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ParticipantIf you want 3 bed room for around 2k/month, you might want to look into Wateridge Circle Condo/Townhouse area. That’s where we rented last year. The rent there is around 2000-2100 depending on the owner. That’s the going rate right now. I saw one before I moved out listing for 2095/month w/ free water. The sq-ft is 1610, so it’s a decent size. It does have 2 cars garage, so it’s nice. It’s in Sorrento Valley, 5 minutes from the freeway, so getting to UCSD or RB is w/in 5-15 mins away.
ParticipantSD R, thanks for the kind words. I tend to over research anything I buy. I’m currently renting in the condo south of Calle Cristobal right now and I didn’t notice the sound, so I’m not sure why you think there’s a lot of noise in Cheryl Ridge. Maybe because of all the buildings separating me and Calle Cristobal reduced the noise. I walk through all of those development at least 3 times a week as my exercise. I only consider those houses @ the end of the the cul-de-sac further away from Calle Cristobal anyways, so it probably won’t be as bad. I’m also a very heavy sleeper, so noise definitely won’t bother me, hehe. I can sleep through anything.
ParticipantSD R, thanks for the kind words. I tend to over research anything I buy. I’m currently renting in the condo south of Calle Cristobal right now and I didn’t notice the sound, so I’m not sure why you think there’s a lot of noise in Cheryl Ridge. Maybe because of all the buildings separating me and Calle Cristobal reduced the noise. I walk through all of those development at least 3 times a week as my exercise. I only consider those houses @ the end of the the cul-de-sac further away from Calle Cristobal anyways, so it probably won’t be as bad. I’m also a very heavy sleeper, so noise definitely won’t bother me, hehe. I can sleep through anything.
ParticipantSD R,
Can you CC me in that email too? :-). I’m interested in the MM area North of Calle Cristobal and between Camino Santa Fe and Camino Ruiz. I find the newer houses south of Calle Cristobal to have tiny lots and very cramp.
Jimmy, the difference is actually larger in your example than you think it is. the 11360 alvarez meadow ct property has a lot of 4k while the other one has a lot size of 5400 sq-ft. That makes a big difference. That’s the main reason why I don’t like the south area of Calle Cristobal as much. Do you also noticed that the houses are much closer together in the alvarez meadow complex than the one north of Calle Cristobal?
ParticipantSD R,
Can you CC me in that email too? :-). I’m interested in the MM area North of Calle Cristobal and between Camino Santa Fe and Camino Ruiz. I find the newer houses south of Calle Cristobal to have tiny lots and very cramp.
Jimmy, the difference is actually larger in your example than you think it is. the 11360 alvarez meadow ct property has a lot of 4k while the other one has a lot size of 5400 sq-ft. That makes a big difference. That’s the main reason why I don’t like the south area of Calle Cristobal as much. Do you also noticed that the houses are much closer together in the alvarez meadow complex than the one north of Calle Cristobal?
ParticipantSD R, I agree that if this guy have a lot of rainy day money, and are a conservative guy, then definitely, go for it. It’s just not me, I take a little more risks than that.
ParticipantSD R, I agree that if this guy have a lot of rainy day money, and are a conservative guy, then definitely, go for it. It’s just not me, I take a little more risks than that.
Participantthe 5.3% savings rate I’m referring to are from the online banks. They all range between 5.1-5.4%. So I don’t think it’s aggressively high. I might be off base w/ the mortgage rate though. I got that off Zip Realty and a recent loan application I made and they ran my credit. Anything great than savings rate has risk, so no, you can’t get 10% with no risk.
But riddle me this, let say you have to circumstance, one is putting the whole 400k in the down payment and one don’t. Lets assume that the mortgage payment is 5k/month for the one that did and 7k/month for the one that don’t. The house dropped 400k but this person got a fixed loan so he/she doesn’t care and will be staying put for a long while. If this person happen to lose his/her job and not enough cash to may for everything, which situation would you like to be in. With the person w/ 400k in cash, you can draw down that cash while you wait to find another job while the person w/out 400k will have to sell since he/she can’t refinance and the equity is all gone or the rate is at a point where he/she can’t qualify for the new loan. That’s why I think having liquid cash is a better idea for life’s unexpected moments.
Participantthe 5.3% savings rate I’m referring to are from the online banks. They all range between 5.1-5.4%. So I don’t think it’s aggressively high. I might be off base w/ the mortgage rate though. I got that off Zip Realty and a recent loan application I made and they ran my credit. Anything great than savings rate has risk, so no, you can’t get 10% with no risk.
But riddle me this, let say you have to circumstance, one is putting the whole 400k in the down payment and one don’t. Lets assume that the mortgage payment is 5k/month for the one that did and 7k/month for the one that don’t. The house dropped 400k but this person got a fixed loan so he/she doesn’t care and will be staying put for a long while. If this person happen to lose his/her job and not enough cash to may for everything, which situation would you like to be in. With the person w/ 400k in cash, you can draw down that cash while you wait to find another job while the person w/out 400k will have to sell since he/she can’t refinance and the equity is all gone or the rate is at a point where he/she can’t qualify for the new loan. That’s why I think having liquid cash is a better idea for life’s unexpected moments.
ParticipantI wouldn’t personally down anymore than 20%. Why put all your chips on one hand? The interest in the addition $400k in mortgage after tax deduction would be about $1300/month @ 7%. The interest you would make minus taxes in a saving account @ 5.3% would be about $1500/month. So, it’s a wash, but you have that money in cash just in case an opportunity/hardship comes up. If you bump that 5.3% up to 10%, it would make that much more economical sense to not down the whole 400k.
ParticipantI wouldn’t personally down anymore than 20%. Why put all your chips on one hand? The interest in the addition $400k in mortgage after tax deduction would be about $1300/month @ 7%. The interest you would make minus taxes in a saving account @ 5.3% would be about $1500/month. So, it’s a wash, but you have that money in cash just in case an opportunity/hardship comes up. If you bump that 5.3% up to 10%, it would make that much more economical sense to not down the whole 400k.
ParticipantThere have never been a shortage of takers at the right price.
I completely agree. That also goes for anything out there. Even the nastiest edible cookies will be gone if you put it in the office and say it’s free.
ParticipantThere have never been a shortage of takers at the right price.
I completely agree. That also goes for anything out there. Even the nastiest edible cookies will be gone if you put it in the office and say it’s free.
ParticipantHere’s what you said:
There are very few young people in San Diego who have any cash. The only way they would have any significant amount of cash (i.e. over 100k) would be:1. inheritance
2. bought real esate prior to 2003 and cashed out
Did you noticed you said the ONLY WAY people in the 20s can save 100k is by those 2 points? I’m just saying there’s a 3rd way. Oh, and it’s not a theory I’m saying, it’s real and I’m living it everyday and I’m in my mid 20s. I didn’t say saving $2k/month is easy, but it’s doable IF you want to. What do you think is more prevalent, people inheriting $100k or frugal people saving $100k? My bet is on the later.How many people making $100K/year are living in a $1K/month apartment?
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