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April 16, 2012 at 10:51 AM in reply to: On a refinance with closing costs, would you just add it to your loan balance or not? #741739April 16, 2012 at 9:57 AM in reply to: On a refinance with closing costs, would you just add it to your loan balance or not? #741727
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Participant[quote=bearishgurl]I agree with this, esp since flu was thinking of replacing/upgrading his personal residence if he finds a good deal in the coming months/years. The +/- $3400 is just money down the drain if this happens, IMHO.[/quote]
He did say that he might just rent out his current house, so even if he replace/upgrade, it doesn’t always mean it’s money down the drain. Assuming rate rises from here on out.April 16, 2012 at 9:55 AM in reply to: On a refinance with closing costs, would you just add it to your loan balance or not? #741726ParticipantWelcome back HLS. I totally agree. Which is why I’ve been doing negative cost (getting money back) when I do my refi. When it takes 5-10 years just to recoup the cost, that’s a big risk to me. Especially if rate fall. Which it has been. Since I’ve been going with negative cost, it allow me to refi often. If I went with a 0 point loan, I’d be wasting money (for the cost) if I refi before the break even point. My take is, go with the negative cost if you think rate will fall (even slightly) or go with paying a point or two to get even lower rates if you think rate will rise. A no point loan is kinda middle of the road and just limit you on when you can refi without wasting money on the cost of the prior loan.
Participant[quote=ocrenter]Although when these people put their houses up for sale, will they say Sorrento Valley or MM?[/quote]
Looking at the current for sale listings, I don’t think most sellers would put Sorrento Valley as a selling point. I only saw one that stated it’s in Sorrento Valley. The rest described the location (i.e. it’s near UCSD, Qualcomm, 805, 5, or the beach). Sorrento Valley does not carry the same cache as Carmel Valley, so people don’t put that in the description, since it won’t increase traffic/interest. I’ve seen as many property saying it’s in Sorrento Valley as listings saying it’s on the West side of Mira Mesa.April 16, 2012 at 12:13 AM in reply to: On a refinance with closing costs, would you just add it to your loan balance or not? #741707ParticipantI would go no cost or negative cost (i.e. getting paid to do refi). But if you must go with just no points, then I’d roll the cost into the loan as well. But I’m also in the camp that say we’ll see inflation and the $ will be worth less 10-15 years from now than today. So, no reason on to roll it in. The amount is tiny anyways, so you shouldn’t waste too much time pondering about it.
Participant[quote=ocrenter]There is a separate identity with serrento valley and I doubt MM will be successful in “reclaiming” it so to speak.[/quote]
I think the separate identity is only important and applicable to some resident. I know a couple of people who live off Sorrento Valley Blvd. and they told me they live in Mira Mesa. I was surprised at the time, but now I understand. The miss identification started when they open a new police station over in that area. The City then put Sorrento Valley name on the official map. But now, MM have gotten agreement from both the Police dept. and the City to change all the naming back to Mira Mesa. Also, there’s a very small amount of resident on the 92121 side of Mira Mesa, so I don’t see too big of an objection.Mira Mesa have banners on Mira Mesa Blvd. from the 805 to the 15 on the light post and there’s a big sign saying Welcome to Mira Mesa on MM Blvd. on both the 805 and 15 side. So, I don’t think there’s any identity of Sorrento Valley that’s visible.
Participant[quote=bearishgurl]A 3000 sf house is not the typical remodel for Clairemont. It’s more like enlarging the FR and MBR suite into the backyard. At what cost would a homeowner in Clairemont buy the house next to him/her and tear it down? And why would they do that when their property would then be worth nearly double of the neighbors’ homes??
The avg home in Clairemont is NOT 1100 sf (you might be mixing it up with Linda Vista which is same zip code) :=] The avg home (orig) size there is 1500-1600 sf, has 3-4 br and 1.5 ba, a 2 car gar. and a 6800 sf lot and is approx 47 yrs old.
The avg (orig) home in Linda Vista has about 1100-1150 sf, 2-3 br, 1 bath and 1 – 1.5 car gar and is approx 55 yrs old.[/quote]
You’re missing the point. The average house size today is ~2500 sq-ft. The median house size is ~2100 sq-ft. So, even 1500-1600 sq-ft is well below the median. It was the median size when it was built, but it’s no longer. The main point though is the functionally obsolete layout. Depending on the original layout, it might be cheaper to tear it down and rebuild with a more modern layout.BTW, where did you get those average home size data from?
You said lot size can’t be fixed. I just gave you one instance where you can fix lot size if the location is what you want. I did say it wouldn’t be cheap to fix lot size, didn’t I? But it’s not impossible to do.
Participant[quote=bearishgurl]I understand the meaning of this term but don’t you think it can be fixed? It’s not like Clairemont’s location and lot sizes are inferior to most of the County. In fact, these factors there are superior to most of the County.
Everything except for location and lot size can be fixed.[/quote]
It can be fixed, but at what cost? It’s not always cheap to make addition and make it look like it was built that way. I hate tacky additions.Location is not just back the geographical location. It’s also about the relative location. If you’re surrounded by run down 1000 sq-ft bungalow, your brand new remodeled 3000 sq-ft would look completely out of place. BTW, lot size can be fixed as well, it’s just more expensive to do it. Buy the house next to you and tear it down. Lot size fixed.
ParticipantFirst off, the area you’re referring to is not Sorrento Valley. It’s actually Mira Mesa. It’s the commercial side of Mira Mesa. Go here to read up on Mira Mesa trying to reclaim the name of the area. The reason why I brought that up is because this area (East of the 805) is being controlled by Mira Mesa Community Planning Group. Also building permits have to go through them first. You can go here to read their past meeting minutes to see what is being built.
If you read their past minutes and docs, you’ll see QCOM is currently expanding both out and up in Mira Mesa. Their build Q got approved to be renovated. They’re adding a few more stories to that building. Also, the old 7-up building on the corner of Morehouse and Lusk was bought up by QCOM. They’re in the process of getting permits to build 2 high rises on that lot. They originally wanted to build 2 15-20 stories buildings (I don’t remember exactly), but due to Miramar, they have to lower that down to something like 10-15 stories instead. They’re also consolidating in Mira Mesa. They currently have buildings in both Sorrento Valley (West of the 805) and Mira Mesa (East of the 805), but they’re consolidating around their main campus, which is on Morehouse. So, in the foreseeable future, I don’t expect them to move anywhere near the 15 corridor. At least not until they take up the entire Mira Mesa.
QCOM is not the only company in Mira Mesa. There are companies like Gen-Probe, Motorola, SDCCU, Sharps urgent care, and Scripps’ new $185M Proton Therapy Center (linky). Keep in mind that MM’s commercial area cover all the areas between Miramar to the South, Penasquitos Canyon to the North, 805 to the West and 15 to the East. That entire area is being controlled by Mira Mesa Community Planning Group. If you look at the map, you’ll see that’s a HUGE area with a lot of businesses of all different shape and sizes (but obviously, QCOM is the biggest). The there are the new Stone Creek Master plan community w/in Mira Mesa. They’re planning commercial buildings there too.
When comparing Mira Mesa to Rancho Bernardo, I think infrastructure wise, Mira Mesa is much more well positioned to get more large corporation in the long term. I term of space, Mira Mesa is much bigger than Rancho Bernardo. In term of transportation, MM has more freeways leading to it (5/805/56) vs just the 15 for RB. I the longer term, SD is talking about extend the train up from DT through UTC and through Mira Mesa.
Participant[quote=flu]I don’t know but I’m sure the Kinderhouse Montessori school over on of Flanders will be excited.[/quote]
Kinderhouse is trying to get approval to have kids up to 3rd grade. Currently, they’re only allowed to have kids under 6. If they get this approved, it wouldn’t surprise me if they’ll try to expand later to be preK-6th grade like other elementary Montessori.Participant[quote=sdrealtor]FWIW I don’t think it has anything to do with quality of construction or plumbing (whic can easily be repaired). It’s about functional obsolescence[/quote]
Agree, it’s cheaper to repipe your entire house vs trying to change the layout of a house. Depending on the original layout, it might be cheaper just to tear it down and rebuild.Participant[quote=bearishgurl]AN, I haven’t looked at the map really close but it seems to me that houses situated off whichever streets are more backed up with traffic due to this new project would be worth less in the future – simply because of more local traffic and it being harder to get in/out of the area onto a thoroughfare. Also, perhaps a few local schools will be MUCH more crowded after buildout until new schools are actually up and running to serve the residents of this project.[/quote]
Camino Ruiz is that main street. Most of the housing off that street near the new development are apartments. So its value shouldn’t matter to most the current residences. I was referring to SFR in MM as a whole. Will increase density help or hurt the area?Increase density will always mean more traffic. However, they’re doing the traffic study right now and they’re expanding Carroll Canyon Rd. to be a 3rd east/west feeder road (along with MM Blvd. and Miramar Rd.). So, I’m not too concern about traffic. In the medium/long term, they’re also talking about adding light rail near Carroll Canyon Rd that would connect to UTC and on down to Downtown.
WRT to schools, they’re building another elementary school in MM. I’m not sure what they’ll do about Middle and HS though. I’m sure they can expand them. The schools would be old enough by the time this development gets built out, that it’s probably time to rebuild anyways (since there are quite a few bungalows).
ParticipantTalking about the future of different areas, what do you guys/gals think will happen to Mira Mesa when they start & finish the Stone Creek master planned community w/in Mira Mesa? The project contains (5481 units) multi-family, office, retail, light industrial, and business park uses. This is what it’ll look like: http://www.ktua.com/live/project.php?sector_id=2&id=178
More info about the project: http://www.miramesatowncouncil.org/doc/Stone%20Creek%20Subcommittee%2020061023.pdfThis, along with the current 1800 apartment unit being built behind Best Buy in MM will greatly increase the density of this area. What would happen to SFR in the area in term of value over time?
April 11, 2012 at 11:41 AM in reply to: OT – Who will run for President on the Republican side? #741469Participant[quote=flu]I would agree. Short of something of a disaster in the current economy, Obama will win over Romney. I’d say if the economy goes to the crapper, Obama’s got a big problem then, because people are gonna wonder where did all the spending go. Things like the GSA wates are going to be blown out of proportion. I know it’s probably overblown. But it really doesn’t set the mood right.
For your reference….
If the economy craters, the GOP is going to plaster these and every other dirt they dug up on every attack add possible about “big government waste”.
It’s really not Obama’s fault imho. But perception will be reality.[/quote]
Totally agree. Which is why I actually am hoping Obama would win.Participant[quote=burghMan]What kind of apps are corporations developing that is driving the need for mobile developers? Are they mostly smaller companies trying to be the next Instagram, or are big corporations staffing projects for Android apps? Many mobile apps seem like they would be rather small projects, compared to something like desktop or enterprise software.
Thanks![/quote]
It really depend on which corporation. There are large corporations that have apps. Google, Qualcomm, Microsoft, Apple, Etrade, Bank of America, Citi, Chase, etc., just to name a few. -
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