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an
Participant[quote=flu]gonna get worse me thinks.[/quote]I think so too. I dunno what to think about it.
Participant[quote=flu]Morale of the story…..borrow as much as you can at these ridiculous fixed term rates. Because in a few years this is gonna look cheap.[/quote]That’s the way I felt when the interest rate I get from a CD drop bellow 3%. It has been working well so far. Here’s to hope that we’ll see a repeat of 1970-80.
ParticipantRight now, there are only 18 SFR and 5 condo for sale. The supply is pretty horrible right now.
http://www.sdlookup.com/MLS-120057099-10823_Deering_St_San_Diego_CA_92126
This one probably would sell in the high $300k this time last year.
http://www.sdlookup.com/MLS-120055820-11326_Porreca_Point_San_Diego_CA_92126
This one probably would sell in the mid-high $400k last year.Participant[quote=flu]AN, you’re really an exception…Millenials are slightly better than Generation X (not much, but slightly better….) Baby boomers by far are the worst when it comes to entitlements :)[/quote]
I’m pretty a lot of us on here are exceptions to our respective generation.Participant[quote=flu]Hell, I’m still working night before new year. Find me a millienial that is. Too darn bad…I tried to care, but I gave up…I’ll just take care of my own kid and be done with it. Everyone else’s kid is everyone else’s problem.[/quote]Don’t worry too much about us Millennial. We’re no different than any other generation. After all, isn’t the boomer’s average retirement account is around $50k?
Participant[quote=flu]Well, I’m sure if prices were adjusted 5%-10% in MM, we’d see a lot more inventory right now….And then people would get use to it, and then if rates dropped another 0.5%, you would have another buying frenzy… I predict that people are kinda still sticker shock with 1/1 going for $150, 2/2 going for $220, and some MM SFH that went for $350 going for $400. Rates fall again, people won’t care (again).[/quote]I’m not so sure. We’ll have to wait and see. The way I see MM, you either have people who bought in the 70s-90s who have no intention of selling or those who bought near peak who are under water and most likely already SS or foreclosed. So, I’m not sure if you see a lot more inventory if price goes up 5-10%. Price did go up around 13% in 2012 and inventory declined drastically. So, I don’t know if another 5-10% would change anything.
Participant[quote=flu]Also, primaries will look like excellent rentals in the forseable future so it would be a good time to upgrade.[/quote]
Yep, my primary is a pretty decent rental today with cap rate around 4-6%. If rates drops some more, that might be 5-8%. There are only a handful of places I want to upgrade to, and they’re not for sale right now and I’m not sure when they’ll go on sale since the owners bought it many many years ago. So, I’m sitting tight waiting for one of them to come online. All the while, I’m trying to scoop up as many rentals as I can.ParticipantI agree about hording cash sucks. I was under that assumption when saving returns dips below 3%. I’m already minimizing my spending as much as possible (well as much as I wanted to) and now, I’m in the accumulating stage for hard assets. The writing is on the wall. We’re not going to see inflation sooner or later and I don’t really care if my income matches inflation (although in our profession, I think it would), as long as hard assets and stocks outpace inflation. Lets hope for high inflation soon. Here’s for a 1970-80 repeat.
WRT to rates falling, I’m betting on that too. I don’t know how much worse inventory will be. In MM, there’s only 20 houses and 5 condos for sale right now. So, it can’t possibly get much worse. Those active ones are over prices as well, which is why they’re there. If it gets worse, that would mean we’d have to see price increase another 20%, because those lingering are 10-20% above market price today.
I’m going to continue this negative points refi for a few more years and hoping we’ll see a 1970 repeat after the $h!t hits the fan.
ParticipantI’m just afraid that price will sky rocket (10%+) in the next year and that would really squeezes out the margin, unless rent rises as well. I don’t think I would ever consider LA. If I can’t find any condo in MM, I might consider small SFR in MM instead. We’ll have to wait and see but cap rate for SFR is not nearly as good and you need more capital per transaction.
ParticipantFlu, i wish its as easy as you make it out to be. Like we’ve been saying, inventory sucks balls right now.
December 31, 2012 at 1:55 PM in reply to: OT: FLU refinances (again)…..15 year conforming 2.5% #757002ParticipantI’ll try that next time. I tried disputing the value with other comps and the appraiser rejected. So, maybe it might work if I’m more proactive.
December 31, 2012 at 9:35 AM in reply to: OT: FLU refinances (again)…..15 year conforming 2.5% #756987Participant[quote=flu]I’ll send you guys a PM but if you search, AN posted it here awhile ago.
Just spoke to the appraiser for the MM investment property.. Lol…Was telling me of a nice appreciation…So looks like I’m gonna end up cashing out more…..
Not bad for 9 months of doing nothing…
RE prices gonna tank??Phhh! Good luck…[/quote]
Good for you flu. I wish my appraiser was a little more aware like yours. Maybe next time.December 31, 2012 at 9:31 AM in reply to: OT: FLU refinances (again)…..15 year conforming 2.5% #756986Participant[quote=squat300]There’s a sink right next to it in a laundry room. How many sinks do we need? This will make the 7th sink in the house.
7 sinks no guns.[/quote]
Are you trying to say, after doing your business and your hands are full of germs, you’d have to open the door and go to the laundry room to wash it? Or do you mean you don’t have or use the door in that bathroom?Participantkeep the punch bowl filled.
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