[an]

Since we’re on a ranting spree, I’ll put in my 2 cents. SF sucks balls. You can’t pay me to live there. Chicago is 100x better than SF.

[an]

[quote=The-Shoveler]I just never used the auto pilot button.

I know most do, I just never did so it’s a little hard for me to relate.[/quote]
I don’t either. So I know what you mean about relating. But you do see many on auto pilot. So for those who are on auto pilot, when they’re born makes a huge difference.

Btw, if you’re not the type who are on auto pilot, you might not make the right choice which will make you crash and burn, but you can also become filthy rich as well. Imagine the two engineers example I gave. The one who graduated in 1995, if s/he got lucky with the .com and make 1-2m, then go buy a modest house to live in and buy a bunch of investment properties in 2000. Then sell all of the properties at the near peak (2004ish). S/he can easily have multimillion by now. There’s very little chance the engineer who graduate in 2001-2003, can amass multimillion in 10 years. Especially after just two general decisions.

[an]

The-Shoveler, what you’re describing is, those people are actively making the wrong choice. I’m talking about people who don’t make those active moves, not those who thinks they can predict the market.

I didn’t say when you’re born guarantee you an easy life and always being in the right place at the right time. However, it does mean you have an opportunity to be in the right place at the right time. Of course, you can also make the wrong decision, but that’s a decision for you to make. Some people don’t have the opportunity to make those decisions (wrong or right) because of when they’re born. Just think of an average person who are not that savvy in finance and try to predict the market. They graduate with an engineering degree, work for 3-5 years while saving for a down payment for a house. That’s your typical progression in life and most people do it w/out think about it. Those who graduate in 1995-1998 will be super lucky (with no need for active decision making). While those who graduate in 2001-2003 will be in a horrible position if they don’t actively think about those decisions.

[an]

[quote=flyer]Glad to hear you held off, AN. Wise move. I’m sure you’re really counting your blessings on that decision.

In the end, life really boils down to the fact that we all have only “X” number of years on earth, and we all want to spend them living our “dream scenario” as long as possible.

That has been my goal since before I finished college, and, it seems to have worked out. Although I know trying to live your dreams is more challenging these days, it can still be done, and I wish you the best![/quote]
Oh, yeah, I’m counting my blessings everyday. Looking back, there’s no way I could be anywhere close to where I am today financially if I would have bought in 2005. However, looking at the past, if I’m 10 years older, my financial position would have been so much better, even if I didn’t do one thing different. I know people who sold their .com stocks during the .com bubble to buy their multi-million dollar home in RSF, just because it’s the right time in their life to move up. They had no idea that .com crash is coming or that we’ll see a RE bubble. They just do it, because they’re at the point in their life to do those things. It’s just their life coincides with the economic cycle. So they reap the benefits. I guess that’s just reiterating your point about being at the right place at the right time. Some people have all the luck while others, would have to constantly avoid being in the wrong place at the wrong time.

[an]

[quote=flyer]I understand how you feel with regard to your comments concerning the fate of your age group, AN. Many younger people I’ve talked to feel the same.

When we’re born, and how that effects the outcome of our lives is definitely one of those “wild cards” in life–since none of us consciously makes that choice.

As I mentioned before, sometimes it’s just a “being at the right place at the right time” sort of thing–and much of that is out of our control.

With the way things are in the world at this point in time, all you can do is exactly what you’re doing, and hope for the best, as well as enjoying all of the many blessings you do have.[/quote]
flyer, I agree that when we’re born is out of our control. I was just whining a little bit that some of us younger just have a much harder time to “be in the right place at the price time”, especially when we’ve been dealt with two “wrong place at the wrong time”. So, for some of us who fell trapped to one or both of the “wrong place at the wrong time”, you’re in a deep hole and have to dig yourself out of that first. I’m just talking for people my age in general and not me specifically. I purposely did not buy in 2005 when some of my friends did. People around me were telling me to buy at the time too. It took quite a bit of conviction for someone in their 20s to go against the grain, especially when housing looks like it’ll never crash in 2005.

[an]

I agree with UCGal. Which is exactly what I’m doing. Maxing out my retirement, 529 for my kids, coverdell ESA is the next step. For wealth transfer, I rather buy investment properties and transfer to them when the time comes, vs opening a Roth IRA for them. You, as a parent, have much more control with investment properties than putting $ in their Roth IRA.

[an]

I haven’t thought about it. Why would one do roth ira over 529? Unless they already max out 529, coverdell esa, and some custodial account.

[an]

[quote=spdrun]There are always opportunities. Let’s say if you bought $10k of F in late ’08 – you’d have $100k in hand now.

Oh, and you wish for home affordability yet you whinge about the housing crash. Contradict yourself much? Personally, I think that the housing correction was one of the BEST things to happen to this country.[/quote]
When did I whine about housing crash? I took advantage of the housing crash, so I don’t know what you’re talking about. As for wishing for home affordability, I think it’s affordable today, so again, I don’t know what your point is. What would have been BEST for the country would not to have the housing bubble, not having the crash.

[an]

[quote=flyer]Good plan, AN.

We just happened to find our “dream home” in our early 30’s, and were in a position to act. We’ve now been in RSF for over 20 years, and have done a complete remodel and expansion–in essence, almost a complete “tear-down”–over that time period. Same story for many of our family and friends.

Just a mere 20+ years ago in San Diego, as some of the other “elders” on the board can verify, it was really pretty easy to find and buy your “dream home” here.

Going back a little further, other examples are family members who bought ocean view properties in Sunset Cliffs and Point Loma in the 70’s and ’80s for between $70K-$100K or less, that are now worth $3M+++, and all were passed on to their kids.

I could tell you story after story along those same lines, because that type of pricing was the “norm,” for upscale housing until San Diego became an employment hub, and then all bets were off. Much like Palo Alto, and other areas that grew exponetially due to business growth, San Diego has followed suit.

I’m not sure we’ll see the same astronomical property value growth those of us who are older saw in past decades in the near future, (I’m sure kids who want to live here hope that’s true) and, although I know you want to take your time, I’d still say, if you do find your “dream home,” sooner rather than later might prove wiser.[/quote]
Oh, I believe you. I wish I’m 20 years older. Not only would I be able to get these dream homes at a much more affordable priced. I would able able to take advantage of the .com bubble, which would allow me to buy a few more quite easily. You older folks had it all pitched to you so perfectly. Us gen Y on the other hand graduated in the .com crash and when we got a job and saved enough money, we got dealt with the housing crash. Now, we have this anemic “recovery”. Nothing is going our way. Will we see a good growth period before we’re too old to work? I hope so.

[an]

[quote=KarlsGood]I have lived up on the hill for 30 years. Outside of Rancho Santa Fe I do not beleive there is any portion of Coastal San Diego County that has more trees in number and maturity. Its also the best run city in the County by a large margin.[/quote]
What do you mean by best run city?

[an]

BG, you’re right that it would be very desirable for me to have the tree-easement. That’s one thing I like about the post 2000 master planned communities and the 50+ years old communities. Too bad the new communities no longer have 2000-2500 sq-ft house and 1/4 acre lots anymore. Anything with 1/4 acre lot in SD seems to have 4000+ sq-ft houses on there now.

Again, this is just for me scope out SD on the computer for areas that I don’t know about that would fit 100% of my desired criteria. Right now, it seems like the UC development I mentioned is the only one that fit 100% of my desires right now. Although, I would definitely trade tree-easement for ocean view.

[an]

[quote=bearishgurl][quote=AN][quote=KarlsGood]How about this?

http://www.zillow.com/homedetails/3470-Hillcrest-Cir-Carlsbad-CA-92008/16618434_zpid/
[/quote]
Looks good. :-)[/quote]

Interesting mid-century, likely with +/- 100′ frontage but likely NOT “tree lined” or with “tree easement.”

You like this, AN, but your “wants” are not all in one pkg.

That’s what I’m saying here.[/quote]
I still think the UC are fit my wants better but this is a decent compromise. Is there something like this with tree easement?

[an]

[quote=KarlsGood]How about this?

http://www.zillow.com/homedetails/3470-Hillcrest-Cir-Carlsbad-CA-92008/16618434_zpid/%5B/quote%5D
Looks good. 🙂

[an]

flyer, I totally agree. Which is why I’m starting my initial search and with no real time table. If I find it, great, but if I don’t, that’s fine too. But the type of place I’m looking for are hard to find in San Diego, I have to be ready and “be at the right place at the right time”.

I myself have no plan on selling my place as well. If or when I do move, my current place will be converted to a rental acting as a source of retirement income as well as being passed on to my kids when the time comes. If the next 50 years is like the last 50 years, even at today’s price, it would look dirt cheap many years down the road. It’s just the nature of inflation and depreciation of our currency.

[an]

[quote=spdrun]

These owners have owned their house for many many years, so they wouldn’t need to sell. If market is up, they might sell, but if it crash, they’ll stay put.

Two words for you: estate. sale. 🙂 They’ll stay put till they croak.[/quote]
Yes, but that has nothing to do with the crash or bubble. They can and do croak any time.

[Author]

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