[Alex_angel]

In anyones opinion, is this a little too premature to sell off the models when they are only in phase 3 out of 9. Does this sound like they have given up selling or is it typical for developments to do this so early in the selling?

[Alex_angel]

In anyones opinion, is this a little too premature to sell off the models when they are only in phase 3 out of 9. Does this sound like they have given up selling or is it typical for developments to do this so early in the selling?

[Alex_angel]

I guess you just have to be smart about it. Not like these wannabes in San Diego with their BMWs and Mercedes that they bought with the credit line they had.

[Alex_angel]

I guess you just have to be smart about it. Not like these wannabes in San Diego with their BMWs and Mercedes that they bought with the credit line they had.

[Alex_angel]

IO loans are not the devil if you actually are smart enough to make principal payments. Most people though rest on their laurels and don’t realize they are leasing a home as opposed to buying down and owning it. In 10 years when interest rates are 15% and you reset at 5.5% for the remainder 20 years you will be laughing at how low your payment is.

[Alex_angel]

IO loans are not the devil if you actually are smart enough to make principal payments. Most people though rest on their laurels and don’t realize they are leasing a home as opposed to buying down and owning it. In 10 years when interest rates are 15% and you reset at 5.5% for the remainder 20 years you will be laughing at how low your payment is.

[Alex_angel]

Good points rustico. What people don’t get is that sure housing may be down 10-20% over the next few years but interest rates will be up couple percent so what happens? A complete wash. The decrease people will expect for their monthly payments due to a cheaper home won’t happen because the higher interest rates will bring the payments back up.

[Alex_angel]

Good points rustico. What people don’t get is that sure housing may be down 10-20% over the next few years but interest rates will be up couple percent so what happens? A complete wash. The decrease people will expect for their monthly payments due to a cheaper home won’t happen because the higher interest rates will bring the payments back up.

[Alex_angel]

Thanks JWM. Again I am not against a decrease. A lot of people during the run-up had trouble figuring out San Diego because is bucked all the trends so I just want to know why 30% is all of a sudden the magical number.

[Alex_angel]

The correlation I see is that when people made a killing during the .com era homes in Silicon Valley sky rocketed. Once the .commers where done a lot moved out of the SF area and came down to SD right as the run-up in real estate started.

[Alex_angel]

There have been numerous posts by people looking to buy and the typical response has been “wait a year or two” Now what data is this being based on? The ever so accurate crystal ball?

Now I don’t own and can’t afford anything in this city anymore. I make a great income which still puts me into a shitty situation with San Diego real estate. I am not going to buy only because I can’t afford it. What I am saying is that there is too much reinforced negativity towards an ultimate crash. The fact is there is a lot of rich people that moved here over the last couple years. I agree with 23109VC that it does suck for those that bought a bare walled home a couple years ago and that today people can get a fully decked out home for the same price. The key is SAME PRICE. I couldn’t afford a $800k bare walled tract home 2 years ago and I can’t afford a $800k filled to the gills tract home today.

This waiting for the right moment is absurd in that the moment may never come.

I am not stupid to realize that if a $800k home all of a sudden went on sale for $400k that there would be a lineup around the block and someone with lots of money would swoop right in and run the bid up to $600k and take it.

The market here sucks and it is not depreciating as fast as other parts of this country.

[Alex_angel]

the anger you all are throwing towards me further validates the disgruntlement among you. Calling people names for buying today is grade school behavior. Why hate people who can afford something? Is that fair. I don’t hate people who buy Feraris because I can’t afford them. I don’t hate people that eat filet mignon every night because I can’t afford it.

Where will most of you who want a home draw the line? You will wait and wait and wait and do nothing. You will see a home you want for $800k and say that if it goes down to $750k you will buy, then at $750k you will wait for it to go down to $700k and so on and eventually someone else will buy it and you will still be waiting.

As for the accusation that I’m a realtor. Not true at all. I hate those sleaze bags as much as you all do. At least the ones I have used were a bunch of scumbag liars.

I agree that the market is over priced. I don’t argue that. What I don’t agree with is that the bubble has popped and the world of real estate is collapsing. It may be doing that in other parts of the country but from what I see here in San Diego is quite different.

Those of you that ask for facts do me a favor. Get up from behind your computers surfing blogs that cater to your beliefs. Close the Dataquick web site and actually go out on a Saturday to a lot of the builders sites, go to open homes and you will see how supposedly slow this market is.

[Alex_angel]

This wait until next year sentiment is getting old. If everyone was so in tuned with market why didn’t everyone buy in a few years ago before the upturn? My take is that people like to only predict trends after the fact. Its easy to look back now and scoff and say ha you shouldn’t have purchased last year. Then those that are all saying wait a year, next year will all still be saying wait a year. Seeing undesirable areas go down in price doesn’t mean a bubble has popped. Seeing a bubble pop would be homes in areas like Rancho PQ that were $300k 4 years ago that are sitting at $800k go back down to $300k level. Even with inflation they would be at $400k but they are not. People are still buying these homes at the high prices.

[Alex_angel]

I especially love the hookers and sex parlours in NorthPark. Shampoo baths, prostate massages or just plain sex. that place is a slum. The only good thing about North Park is the Turf Club and Lefty’s pizza.

[Alex_angel]

Buffet is partially to blame for this run-up in prices. In 2000 his company purchased Prudential Realty of SoCal. They did so knowingly that there was money to be made here. His company is known for buying undervalued companies.The timing of his purchase and the run up in prices is too coincidental IMO.

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