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dup

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[quote=Jazzman]I guess we owe you a big thanks for bringing to our attention that Mira Mesa is clearly a place for buyers to avoid like the plague.[/quote]
If only other buyers agree with you. Then I’d owe sdr a huge thank you.

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[quote=flu]…Definitely do not look in mira mesa and carmel valley. Just check the public records for widespread construction defects….

(There AN, one less potential MM and CV buyer we need worry about in a bidding war).,..[/quote]
Totally agree. Stay away from these two far flung areas. They’re nothing but trouble and are full of nothing but TRACT homes.

[an]

[quote=ocrenter][quote=svtechie]

My question: what areas have well-built houses? I’m looking for solid structure, good plumbing, no shortcuts, the stuff that makes for a hassle-free residence or rental.

![/quote]

Chula Vista![/quote]
Also, everything that were built before 1960 and is not a tract home.

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[quote=UCGal]Pensions have problems – but so do 401ks. That was why I entered this thread – to point out the riskiness of putting your entire retirement plan in the stock market. [/quote]
Of course it’s risky to put 100% of your 401k into the market. I don’t think anyone is suggesting that. However, if you don’t do that, then your return will be less, which means you have to save even more per year during the working year or live with less during the retired years. Also, if you want to stick with majority safe investment during the retired years (CD), you’re being screwed right now with the interest rate at around 1%.

The riskiness of the 401k is not a problem. It’s only a “problem” if you’re depended on its “average return” to hit your number, in order to retire. If you’re conservative in your investment, it’s quite hard to be able to have early retirement in the private sector, unless you make well above $100k/year. That’s no so if you’re in the public sector and have a pension.

I’ve ran the numbers several times in the other thread, showing what the equivalent 401k + SS would have to be, in order to match just your average pension. It’s quite hard for a single person making ~$40k/year today to amass ~$800k in 401k. But, that’s how much he/she would have to amass to match the average public pension payout of ~$3k/month. That’s also assume you have to die after 30 years of retirement. If you happen to live longer, there’s a huge risk of not having enough money beyond 30 years if you have the 401k, but if you have a pension, you’re sitting pretty and your life style won’t need to change one bit. With so much risk in the market and the 401k system, you’d expect the value should be that much larger to compensate for those risks. Which means, the number would need to be >$800k to compensate.

[an]

Agree, there’s no such thing as a free lunch. I’m sure both side get what they want out of this deal. For a 20 years lease, it’s almost like they own it. They also mentioned they have the right to extend the lease after 20 years. They might also built into the lease the buy out of the land (kinda like lease cars?) after 20 years?

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[quote=sdrealtor]Poor MarkMax. Its probably better he’s not around to take a beating here as he must be pretty despondent. RP out and Zynga down under $5 from when he has touting it at $14.[/quote]
I wonder how many times he double down on ZNGA. He gave us under 35 a bad name.

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Who own the land? It could be possible that the “company” that own the land is owned by the same people, but they keep it separate for tax reason? I’m just guessing. If not, maybe this is just how commercial RE work… Any commercial RE expert willing to shed some light?

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[quote=sdrealtor]Feller turned down $445k from my client. They didnt lose anything. They financed 100% in a single loan which means short sale should go qicker and easier. They were in default for over 2 years which means close to 3 years of free rent. No tears to shed here[/quote]
That’s close to $90k saved by not paying rent for 3 years.

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[quote=sdrealtor][quote=AN]Talking about jobs in MM, looks like good time is here again: http://www.utsandiego.com/news/2012/jun/11/shire-add-several-hundred-biotech-jobs/?sciquest

Here’s another one, a block away: http://www.sdlookup.com/MLS-120028338-7815_Dancy_Rd_San_Diego_CA_92126. Went pending after a few days with multiple offers. Take a look at the interior. That’s straight out of the 80s. Take a look at the asking price too, that’s $50k more than the Feller Cv house. I guess that’s the difference between short sale and equity sale.[/quote]

Its a range price on Dancy from 450 to 500K. My guess would be closer to 450K but we will have to see. Shouldnt be much of a difference on final sales prices.[/quote]
The Feller cv house also have a range too. $415-450k. Would be interesting to see where both closes at. I always assume it closes at the top of the range when it goes pending in less than 30 days with multiple offers.

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[quote=flu]
I don’t understand the big deal about piping. So even if pipe sucks. We’re looking at $5-8k to have the home repiped, right? What’s the big deal with that? It’s like putting in new berber carpets or something like that..[/quote]
I don’t understand it either. I’ve seen an add for as cheap as $3-5k for a complete repipe. That’s cheaper than some carpet.

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[quote=bearishgurl][quote=sdrealtor]9 offers and counting on this one. BTW, the photos are more surgically enhanced than the house.

http://www.redfin.com/CA/San-Diego/10504-Feller-Cv-92126/home/4587879

….[/quote]

Another wonderful candidate for being built with polybutylene plumbing :=0

“Caveat emptor” on this one.[/quote]
I can say for certain that you’re 100% wrong on this one. The houses in this part of Mira Mesa have 100% copper piping. So, please, don’t add “caveat emptor” when it doesn’t apply…

[an]

Talking about jobs in MM, looks like good time is here again: http://www.utsandiego.com/news/2012/jun/11/shire-add-several-hundred-biotech-jobs/?sciquest

Here’s another one, a block away: http://www.sdlookup.com/MLS-120028338-7815_Dancy_Rd_San_Diego_CA_92126. Went pending after a few days with multiple offers. Take a look at the interior. That’s straight out of the 80s. Take a look at the asking price too, that’s $50k more than the Feller Cv house. I guess that’s the difference between short sale and equity sale.

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[quote=UCGal]FYI – you can retire at 50 in the private sector too – just takes a lot of saving/planning/debt reduction and a Live Below Your Means lifestyle.

I’m private sector and am working hard to retire at or before age 55.

I do have a private sector defined benefit pension that was frozen a decade ago, along with a private sector defined contribution “portable” pension that was frozen a few years ago and is now underfunded and non-portable… They add up to a whoppin’ $400/month at age 60. Obviously the bulk of my income stream will be from savings.

Check out http://www.early-retirement.org/forums/ and http://earlyretirementextreme.com/
Lots of non-public employees retire at or before the age of the OPs neighbor. It’s a choice to be frugal and get out early.[/quote]
I don’t think anyone will disagree that you can reitre at 50 in the private sector. It’s just much harder and you can’t live the same life style as you could have with the public sector pension. Beyond that, people who get public sector pension can also live below their means during the working years, save, plan, debt reduction and they’ll have a decent savings on to of the pension as well.

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[quote=The-Shoveler]In places where land is expensive I would think you would see two types of housing being built.
Condos and McMansions,
You need cheap land to build small single family homes and make a profit IMO.[/quote]
Which is not most part of San Diego. Too bad there’s no new development with 5k sq-ft average lot and house size of 1100-1400 sq-ft single story house.

My house is one of the larger house in my area and it’s smaller than your average home today.

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