[an]

[quote=flu][quote=AN][quote=flu]
So AN, as BG use to say “inquiring minds what know know”!!! Since handing over the title to you as “serial refinancer”……when are you planning to refinance again??? And how much in rebates are you milking this time, lol…You totally killed it with the ridiculously low below monthly loan payments, I’m guessing.

As they say in Star Trek. Live long and prosper.[/quote]
I just started 2 more refi on Friday. My primary will be at 3.125% and my SFR rental will be at 3.625% @30 years fixed. Just refi my condo rental 9 months ago @ 4.125% @15 years fixed. I only do either no cost or with extra rebate to cover taxes and insurance. A few years ago, I went several years w/out paying property taxes or insurance, because the refi would cover taxes and insurance for those years.

For my primary residence with the new rate, I’ll be paying less on interest + taxes + insurance than a 1/1 condo around here. I can’t believe I’ll be in this position after just 12 years. Sucks for all the new home buyers, but I’m definitely sitting pretty. Especially with minimum wage go to $15/hr. I think it’s getting close to the point where I can afford my house on a minimum wage salary.

With Trump’s new tax plan, I have to readjust my portfolio. But I can’t complain. Thanks to CA’s strict regulations, rent are sky rocketing. Also, w/ the new rent cap, I’m starting to increase rent on my good tenants. I feel bad for them, but I told them, the State twisted my arms on this one, sorry.

Here’s hoping this “pandemic” continue to get overblown and the Fed will cut rate some more. Would be awesome if I can lock in 30 years fixed at <2%.[/quote]

Great job on the low low loan rates.

Unfortunately,I didn't keep my loans. Drat. I guess I played it too safe. So I'm stuck with very positive cash flow that's sitting in the bank. I'm trying to find another 2 rentals but inventory isnt great, price isn't great... But then again maybe with low rates it might not be a bad option.

Nice job on the refis. Can you PM who you got the loans from. just curious.[/quote]I think you have to be creative in this environment. SFR + 2 Adu might make sense number wise.

[an]

[quote=FlyerInHi][quote=AN]

So, who really cares when the exact statistical bottom is other than economist and internet armchair economist.[/quote]

Somebody predicted the bottom right on the money. Maybe you don’t care. But he’s still right.

You’re deflecting and changing the topic. The fact that you did well and “won’” changes nothing. At this point you’re just bragging in a put down attempt that’s all too familiar these days.[/quote]
Nope Data doesn’t lie.

[an]

[quote=FlyerInHi][quote=DumpsterDiver]
The bottom was simply a moving target. Calling January 2012 the bottom is just a statistical calculation and has nothing to do when was the right time to buy a given house. The house that any particular person wanted was not likely to be available at the exact moment somebody declared a bottom. What matters is buying a house [/quote]

Ha! A moving target! We are talking about the economy statistics do matter.

If you’re talking moving target, then the period after the bottom is just as good. You picked 2009-2011, why?

The topic is the economy. Not individual performance. Bottom is still 2012 no matter what you say. The time to argue “moving target” is during, not years later when everything is laid out for you to see.[/quote]
This is what he said
[quote=Burns]Burns, the economist, believes that the housing market overall is headed back toward 2002 price levels, on grounds that the gains seen over the last year or so will be reversed as a new flood of foreclosures and short sales hit the market.[/quote]
I rather buy a condo in Jan 2009 than Jan 2012.

[an]

[quote=FlyerInHi][quote=AN][quote=FlyerInHi]
It doesn’t matter when the bottom is if there’s nothing you want to buy at the bottom. Also, not all zip code have the same bottom.[/quote]

Read the LA article posted in the header. What you say has no bearing and not the point, especially 10 years later.[/quote]Article doesn’t exist anymore. Back when I was young and foolish, I would believe these articles and economists. If I did, I would have lost out on thousands of $ waiting ’til 2012 and not be able to buy the kinds of house in the area I want. Hindsight is awesome and I’m glad I didn’t listen.

So, who really cares when the exact statistical bottom is other than economist and internet armchair economist.

[an]

[quote=flu]
So AN, as BG use to say “inquiring minds what know know”!!! Since handing over the title to you as “serial refinancer”……when are you planning to refinance again??? And how much in rebates are you milking this time, lol…You totally killed it with the ridiculously low below monthly loan payments, I’m guessing.

As they say in Star Trek. Live long and prosper.[/quote]
I just started 2 more refi on Friday. My primary will be at 3.125% and my SFR rental will be at 3.625% @30 years fixed. Just refi my condo rental 9 months ago @ 4.125% @15 years fixed. I only do either no cost or with extra rebate to cover taxes and insurance. A few years ago, I went several years w/out paying property taxes or insurance, because the refi would cover taxes and insurance for those years.

For my primary residence with the new rate, I’ll be paying less on interest + taxes + insurance than a 1/1 condo around here. I can’t believe I’ll be in this position after just 12 years. Sucks for all the new home buyers, but I’m definitely sitting pretty. Especially with minimum wage go to $15/hr. I think it’s getting close to the point where I can afford my house on a minimum wage salary.

With Trump’s new tax plan, I have to readjust my portfolio. But I can’t complain. Thanks to CA’s strict regulations, rent are sky rocketing. Also, w/ the new rent cap, I’m starting to increase rent on my good tenants. I feel bad for them, but I told them, the State twisted my arms on this one, sorry.

Here’s hoping this “pandemic” continue to get overblown and the Fed will cut rate some more. Would be awesome if I can lock in 30 years fixed at <2%.

[an]

[quote=flu]
True, it’s more expensive than the rest of texas. But lots of high tech jobs and the employees aren’t really paying that much lower than here in sd. One of my last tenant that moved there before the QC layoffs happened a year or two ago( I forget when, short term memory with old age is failing lol) . He ended up doing pretty well because I think a company out their paid him San Diego embedded software engineer wages sponsored his green card and started the process right away, and last he sent to me was a pix of his beautiful gnormous house there that I think he paid $700k for, but it’s supposedly in the best area with the best school distric. His property taxes are much larger, but no state income tax I think.

I think he had an offer from Bay Area company too and had asked where he should go, and I mentioned Austin wasn’t bad if you can stand the heat and SF is overrated especially with a family,.and you won’t be able to buy a decent SFH for sometime unless you hit the stock/rsu bandwagon. And apparently once he moved there he felt pretty good about it since there are a lot of people exactly like him that did the same thing.Glad it worked out for him , his wife, and his newborn. He was tired of paying me rent for a 1/1 the past 4 years.[/quote]This is why I don’t understand why people would rather living in places like Fresno than Austin. Same goes for people who are struggling on at 40k-ish salary. You could be buying your own home on that salary vs having to be on food stamp because you’re well below the poverty level here.

[an]

[quote=FlyerInHi]AN, someone cares enough you resurrect this old thread.
He has he benefit of hindsight. He should have known what the bottom was yet he argued that 2012 was not the bottom.

The person who wrote the article was accurate in his prediction. Simple.

Maybe you don’t care but that’s besides the point. Ok, you’re successful, you made your own bottom whenever. The bottom was still 2012.[/quote]
It doesn’t matter when the bottom is if there’s nothing you want to buy at the bottom. Also, not all zip code have the same bottom.

[an]

[quote=FlyerInHi]I don’t have time to read old stuff. Feel free to quote context if you wish.

Bottom line is that the bottom was 2012. No amount of individual anecdotes of success will change that the bottom was 2012. I didn’t even remember exactly until Rich confirmed. But 2009 or even 2010 as the bottom is laughable.

I do remember all the hyperinflation and dollar debasement talk after the recession. That was a monumental wrong that resulted in wrong policies that cost the American economy and American people dearly in lost opportunity.

While you’re dumpster diving, why not read some of Paul Krugman’s old articles. He was right on the money.

If anybody is a revisionist, you are. You have 20/20 hindsight, yet you resurrect an old thread to argue that the technical bottom is not the “real” bottom. That’s what fake new is all about.
Even with 20/20, you were wrong, so you call people to post their success stories. Nobody’s success story will change the fact 2012 was the bottom.[/quote]not in my zip code. Even if I didn’t hit the exact bottom, who the heck care? I hit it close enough. BTW, there were no house I wanted to buy at the bottom.

[an]

¯_(ツ)_/¯

[an]

[quote=flu]Austin and Dallas ain’t bad. But they ain’t exactly cheap living there now too. I kinda like it when I was there a few times. I dunno but I somehow always end up with a lot of friends from Texas, maybe being born and lived there had something to do with it. Hey, maybe that explains it. Maybe I really do have a cousin named Bubba with a missing front tooth. That would be awesome. Yeeehaw![/quote]
Austin is still hella cheap. https://www.tollbrothers.com/luxury-homes-for-sale/Texas/Belterra/Estate-Collection. 4200 sq-ft luxury house for $575k? That’s a lot cheaper than Fresno, much less San Diego.

[an]

[quote=flu]This is what old soon to be retiring old farts do. First world problems 🙂

How are you doing , old friend? Hopefully life has been good for you as it’s been for several of us.[/quote]Life has been great. Got off the perma-bear train in 2008 and never looked back. Lucky I got off that train, else, there’s no way I would be in the place I am today. Although I say I would love to retire early, I’m not sure if I can. Enjoying running 100 MPH.

[an]

[quote=flu][quote=AN][quote=DumpsterDiver]Excellent so one year after this thread. Looking at the graphs the differences between 2009 to the end of 2011 looked pretty marginal? Looks like the time this thread took place was a spectacular time to buy as the rocket ship launched again early 2012. Any way to reach out to the participants? Would be great to hear how they all fared.[/quote]I bought my primary residence on Christmas eve 2008. It essentially stayed flat for the next 4 years. Which means, I was saving $ every month because my PITI – tax deduction was less than comparable rent. Then it sky rocket (it’s now almost 2x the price). All the while, mortgage rate keeps on dropping. I’m about to refi again at no cost for 3.125%. My new PITI will be less than rent of a 2 bedroom apartment nearby. No longer count tax deduction since the now crazy high standard deduction.

I just had to deal w/ living in a non-neighborhood with lots of lizards and walls.[/quote]

Welcome back, Pigg Emeritus. We missed you.[/quote]
LoL, you’re doing a fine job holding down the fort.

[an]

[quote=flu]
Yeah yeah I admit. I was wrong about Santee. It’s actually pretty nice up on the hills. I got a friend that has a ridiculous gated private house sitting on an acre with an awesome view. Plus only 15 minutes to La Jolla, lol.[/quote]It is nice up the hill. The house was awesome and the view is fantastic. We went to the model homes and loved it. I just can’t pull the trigger because I just can’t deal w/ the commute.

[an]

[quote=DumpsterDiver]Excellent so one year after this thread. Looking at the graphs the differences between 2009 to the end of 2011 looked pretty marginal? Looks like the time this thread took place was a spectacular time to buy as the rocket ship launched again early 2012. Any way to reach out to the participants? Would be great to hear how they all fared.[/quote]I bought my primary residence on Christmas eve 2008. It essentially stayed flat for the next 4 years. Which means, I was saving $ every month because my PITI – tax deduction was less than comparable rent. Then it sky rocket (it’s now almost 2x the price). All the while, mortgage rate keeps on dropping. I’m about to refi again at no cost for 3.125%. My new PITI will be less than rent of a 2 bedroom apartment nearby. No longer count tax deduction since the now crazy high standard deduction.

I just had to deal w/ living in a non-neighborhood with lots of lizards and walls.

[an]

[quote=AN][quote=jstoesz]That 40k number I assume includes appreciation. Just like to point out that buying a decade ago was a better time for appreciation than today. Then again, who knows maybe we are on the precipice of another leg up![/quote]
Hind sight will be 20/20. We maybe on a precipice of a melt down too.[/quote]
Hot damn, should have bought 10 in point Loma 10 years ago… Or anywhere for that matter.

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