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June 3, 2012 at 11:18 PM in reply to: My next door neighbor was a cop, still under 60, been retired for more than 5 yrs #744941
an
Participant[quote=bearishgurl]AN, I think you would be surprised … I know a few who have +/- $3M in retirement accounts. You might be SHOCKED to learn that they live in an older home they own in central SD, south or east county. I can assure you that they didn’t get this way by attempting to “keep up with the Joneses” throughout life. :=0[/quote]
I can say for certain those people are not your normal average American. We’re not a consumer economy because everyone save.To get $3M, you’d need to save ~$20k a year for 33 years and get 7.5% average return over the last 33 years. That’s well above the max for today’s 401k’s limit. That’s also WAY above the max limit in the past. So, those people you know, must be making some real lucky investment decisions for 33 years.
Participant[quote=bearishgurl]Yes, I also believe that submarkets can change on a dime. They can also fall in popularity on a dime. That dime is only as shiny as the nearby job market is stable and lucrative.[/quote]
Talking about jobs, Mira Mesa’s biggest employers are hiring like mad.[quote=bearishgurl]MM is only “semi-hot” today because of nearby well-paying jobs. There are really no other “redeeming qualities” in MM construction over and above other SD County submarkets. If companies close to MM should relocate or decide to import H1B workers instead, MM will fall in value commensurate.[/quote]
That’s the funniest thing I’ve heard in awhile. This statement alone showed how little you know about the area.Participant[quote=bearishgurl]AN, one need only examine the old downtown courthouse basement records on microfilm to see where all the construction defects were in SD County. Until you do this for yourself, you are talking out of your ear.
As far as the accoustical ceiling, I have personally helped friends remove it on problematic ceilings in MM in houses that did not have enough walls, IMHO. Granted, this was quite some time ago and many more owners may have removed it by now.
btw, MM is not the only area that suffers from heavy acoustical ceiling and “dated” stair rails. There are many other areas where these “appointments” were the norm in ’70’s and ’80’s building. But MM is the only area in SD County where I have seen no walls between the kitchen/LR/FR with only a change in floor covering.[/quote]
You make me laugh BG. I’m talking out of my ears? I lived here for well over 20 years. Have many friends here while I was growing up. Know many people who live here. If any of their houses or my house had major issue, I would have heard about it. Kids tends to whine a lot about nothing. So, how many microfilm have you looked at wrt to MM and what defects are you referring to? Please do tell.I know MM is not the only area with popcorn ceiling. But I’m tell you a lot were also removed. When’s the last time you’ve been in a house in MM?
WRT to no walls between kitchen/LR/FR, please do show which floor plan you’re referring to. I know ALL 2 stories and most 1 story house in MM and I don’t recall anyone of them that don’t have walls between kitchen/LR/FR. All 2 stories don’t have walls between kitchen and FR, but they all have a formal living, which is separate from the kitchen and family room.
BTW, having one great room is not a bad thing (though MM houses don’t have this feature). If it does, that developer would actually have a great future looking floor plan, since most houses being built right now have one big room that combine kitchen, DR, and LR (most forgo formal FR unless you’re talking about 3000+ sq-ft).
Again, you of all people, are complaining about “dated” anything? Who in their right might would be buying a 70s and 80s house and not expect some dated feature. Are we going hear you’re complaining about dated 8′ ceiling next? After all, all the new houses have have 10′ ceiling? How about dated outlets? How about dated glass closet doors? How about dated closets (no walk-in closets)?
Participant[quote=bearishgurl]I have nothing against MM but the avg ’70’s/’80’s MM tract home there is what it is. Most have few walls (or “pony walls”) separating the rooms. The difference in floor coverings in these models are the only thing indicating a “change in room,” LOL. The “open floor plan” was very popular in that era. Acoustical ceilings abound and some are vaulted (some of these with beams covered with accoustical “knockdown”), making the material even more difficult to remove properly. Scaffolding is often needed to remove it from the vaulted two-story models, both in MM and PQ. The walnut/wrought iron stair railings there are very dated looking. IIRC, several tracts there were built with faulty PBT plumbing and dozens of properties there have had slab leaks. This all costs major money to correct for the new “investor.” In addition, most of the streets there are extremely crowded with parked cars.
It all “looks” enticing on the surface but my advice would be “caveat emptor” when considering a “rental quality” property purchase in MM (either SFR or condo). Before placing an offer (as a buyer) the first thing I would do is call my insurance agent and have them thoroughly check out the address on their big “computer in the sky” named CLUE :=0[/quote]
BG, sorry but you’re completely wrong here. I’ve probably been in and know about 60-80% of the houses in Mira Mesa. So, I know most of the floor plan very well. You seriously have no idea what you’re talking about. MM house in general are FAR from the “open floor plan”. Some are more open than others, but they’re no where near open, like the new houses today. If anything, I would say most floor plans in Mira Mesa have way too many walls. I would personally knock down a wall or two.WRT to the acoustic ceilings, they should cost you no more than $2k-4k to remove, depending on the size of your house. Or if you’re a DIY, it’s should be a dusty weekend job. There’s absolutely no need for scaffolding. So you’re blowing this problem way out of proportion. FYI, most 2 stories houses I’ve been in already have popcorn ceiling removed. So, this “problem” you’re talking about doesn’t exist on most house I’ve been in.
Buying a 2 stories house in MM for a rental is pretty horrible investment. They’re too expensive and the ROI is much better with condos and smaller 3/2 or 4/2. So, only noobs would buy a large 2 stories in MM as a rental.
ParticipantIt seem like there’s disagreement on what “on fire” mean. It seems ltsdd’s definition of on fire is 2004-2005 market. While sdr, SDR, and mine are on fire is when a house listed at fair market value gets bidding war and tend to close at or a little above asking. I don’t think we’re returning to 2004-2005 again. So, maybe, we all are correct.
Participant[quote=ltsdd][quote=AN][quote=ltsdd]You didn’t miss anything. Just call up your agent and tell him to write a full price offer on the ones you like and you’ll have a better than 80% chance to get it. The market is on fire.[/quote]
Is it really that easy? What if there’s nothing you like?[/quote]Then don’t make the offer![/quote]
I’m not, because there’s nothing to offer on.Participant[quote=ltsdd]You didn’t miss anything. Just call up your agent and tell him to write a full price offer on the ones you like and you’ll have a better than 80% chance to get it. The market is on fire.[/quote]
Is it really that easy? What if there’s nothing you like?June 3, 2012 at 6:38 PM in reply to: My next door neighbor was a cop, still under 60, been retired for more than 5 yrs #744892Participant[quote=no_such_reality][quote=SK in CV]Why on earth would you not consider net present value. Is $50K 30 years from now the same as $50K today?[/quote]
Yes, when you have a cola index. 🙂
It’s worth less if it isn’t, hence, NPV.
Luckily we have the gub’ment workers and their union to protect us ig’nant masses from ourselves.[/quote]
Exactly. However, even with NPV, it’s still a lot of money. Hence, I gave a range. It still doesn’t change the main point. How many people, single, making ~$80k have ~$1.5M (assuming NPV) saved up in 401k (not counting saving accounts and brokerage accounts) by age 55ish?June 3, 2012 at 9:52 AM in reply to: My next door neighbor was a cop, still under 60, been retired for more than 5 yrs #744876Participant[quote=sdrealtor]By age 50[/quote]
You’re right, that’s a very point that I missed.June 3, 2012 at 8:39 AM in reply to: My next door neighbor was a cop, still under 60, been retired for more than 5 yrs #744868Participant[quote=CA renter]
The retirees earning $100,000 are an incredibly small portion of those receiving benefits from the govt pension programs. Like I’ve said many times before, the MSM (propaganda machine for the PTB) always uses the outliers to rile up the ignorant masses.[/quote]
So, what would be a large portion of pension receiver then? Show me the number, we’ll run the comparison, and lets see if it still make sense. I’ve shown that for a $50k pension, that’s equivalent to ~$2M in the 401k if you down consider NPV and probably around mid $1M when calculating NPV. How many people making ~$80k/year can amass $1-2M in their 401k.June 2, 2012 at 6:31 PM in reply to: My next door neighbor was a cop, still under 60, been retired for more than 5 yrs #744853ParticipantCAR, you fail to see the main point, which is a $100k yearly pension payout is equivalent yo a $2.4-$3M 401k, assuming 30 years of retirement. How many people do you know making less than $150k have a nest egg of $2.4-$3m?
Participant[quote=mike92104]I’d much rather see a government sponsored education/information campaign rather than banning anything. I think if more people were aware of how much more sugars are being put into processed foods, then most will cut back. This is the best of both worlds to me. Less overweight people, yet preserving freedom of choice.[/quote]
You’re assuming fat people don’t already know the processed and fast food they consume are fattening and are making fat. I think they know and they’re still doing it. All this ban does is make those store richer. My prediction is people will just buy two smaller size, while costs more than one big one.June 1, 2012 at 10:41 PM in reply to: My next door neighbor was a cop, still under 60, been retired for more than 5 yrs #744823Participant[quote=bearishgurl]Well, I think it depends on if you plan on living “indefinitely” … or not.[/quote]
Does it matter how long I live? I have children and hopefully grand children and great grand children some day.June 1, 2012 at 9:57 PM in reply to: My next door neighbor was a cop, still under 60, been retired for more than 5 yrs #744819Participant[quote=bearishgurl][quote=AN]I’m confused, why buy an annuity when you can ladder CD? I used that calculator, assuming $5M nest egg growing at 2% and a withdrawal rate of $100k/year. You should be good indefinitely. But with the annuity, you’ll be depleted after 198 years. Why not ladder CD, get 2% return, live off that 2% indefinitely?[/quote]
LOL, AN! How long is “indefinitely??” ;=P[/quote]
Is there another definition of indefinitely? -
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