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bearishgurl
Participant[quote=scottinob]You are being very very selfish and just downright mean bearishgurl. Your theory that “If you don’t build it, they won’t come” is simplistic and wrong. (Look at San Francisco, they stopped building and people didn’t stop coming.)
I am a millennial that was born and raised in San Diego, and most of my family lives here. I would like to be able to stay here, close to my extended family. Housing costs have been increasing at alarming rate. This year my rent was jacked up $250/mo. My wife and I will have to make some hard choices if more housing supply isn’t added to the region, if you had your way I would be forced to move away from my family.
Please also think about the others around you in this city who are also just trying to get by. You’re weren’t the first one in San Diego, you’re not the only one, and despite your strongest desires: you won’t be the last one.[/quote]Scott, are you currently living in the immediate vicinity of your extended family now? Do you think you could purchase a home in the immediate vicinity of your extended family in the coming years? What about with family help? If you want to settle near them and you presently don’t live around there, why not? Millenials around me that grew up around here get help from relatives to buy a home nearby. One millenial/Gen X just “inherited” a home from her grandmother.
If builders in SD County were still out building subdivisions en masse in lizardland (assuming SD County had any buildable lizardland left), how is that going to better help you rent or buy in the immediate vicinity of your extended family?
You say your rent has gone up $250 month recently. You must be living in an area of the county where the rental market will bear such an increase. Rents don’t go up that much around here.
Real estate is all local … as in “micro area.” If you really want to live near your extended family and it is doable for someone your age (a reasonably priced area), then you should. If your extended family lives in an upscale, “luxury,” coastal (OB??) and/or $1M+ area, then you can’t … and the fact that SD County does or doesn’t have any new construction SFR tracts out in lizardland for millenial buyers to choose from isn’t going to fix this particular problem for you. Your parents and other relatives who may be living in areas of the city/county you can’t currently afford to live in very likely didn’t buy their 1st, 2nd or even 3rd house anywhere near there. They had to start somewhere and it simply isn’t your turn yet to live there on your own. The vast majority of young people have never been able to buy a house/area comparable to their parents straight out (or a few years out) of college. They have to rent/buy where they can afford as I’m sure you are well aware.
As a SD Native, you are not a “newcomer” to SD and thus don’t fall into the category of people I was discussing here (who have no desire to drop down several notches in the type of house/area they will accept in SD due to having owned move-up and luxury homes in much cheaper markets in the US). For this newcomer group (mostly from “flyover country”), they are probably better off not taking employment here and moving here, especially if they still have minor children to raise.
To avoid as many future rent hikes as possible, scott, I’m going to suggest that you should consider saving up a downpayment to buy a SD County home you can afford ASAP …. the closer to your peeps, the better. And again, whether the county grows (or not) in the future will have no bearing whatsoever on the price or availability of homes in the (already established) immediate area (or adjacent area) of your extended family that you will shop in. And Props 13, 58 and 193 most certainly will.
Participant[quote=The-Shoveler]What you have to understand is the largest generation in history is just now coming into the household formation age and we are building like there was a declining population bust for the last 25 years..[/quote]READ MY LIPS, shoveler. There is NO MORE LAND left in SD County for subdivisions! Deal with it.
It has nothing to do with the size of the “upcoming generation” (or anything else, for that matter).
It is not in SD County’s best interest to keep building like there is no tomorrow … even with infill … (assuming permits could be acquired). We don’t have the water, infrastructure or adequate city and county staffs to serve the population we currently have. Due to gross overbuilding, longtime San Diegans’ quality of life has gone down the tubes since the mid-eighties, IMO.
If there is no room here for incoming millenials to accept jobs, they will take a job in another city. Although, I suspect there will always be room for them but the available housing won’t always be to their liking. That’s just too damn bad.
And it is really okay if SD County doesn’t grow (appreciably) going forward.
Participant[quote=sdsurfer]Thanks for posting! I’ll have to read through the whole thing, but skimmed through a bit and there is a ton of data in there relating to demand. It’s interesting what they say about all the job creation in North County without new homes for those people to live in which might lead to longer commutes for some or they’ll have to live in multifamily, but then there seems to be a bit of doubt as to if the multifamily units will actually get built too.[/quote]In cities, any permitted multifamily projects will likely be properly zoned infill (meaning a bldg will have to be demolished to build the project on the same lot).
If an area is already zoned residential for SFRs, I don’t see multifamily projects getting built in that area/subdivision, unless it was permitted long ago and the land was reserved for this use.
No single family homeowner in CA (especially one whose residence is in a coastal county) is going to vote to approve a multifamily project in their immediate neighborhood/subdivision. Nor should they. That’s not what they signed up for when they bought their SFR in an area zoned SFR only. They will all revolt and waste the developer’s and bureaucrats’ time in hearing after hearing and the developer will walk away hundreds of thousands of dollars poorer with his/her tail between their legs. That’s the way the laws are set up in this regard. It’s never going to change …. nor should it.
We’re all wasting our time here lamenting over the end of the “Build ’em and they will come era,” and we need to seriously just get over it. Big Development’s glory days are now over in SD County, folks. Life will go on even if its population drastically shrinks. And this will only happen if there are ever mass deportations of “unauthorized immigrants.”
ParticipantI quickly read thru pages 1-6 of the report and I really don’t see the same problems coming to fruition that the report talks about. “Newcomers” (or any prospective buyer/renter, for that matter) aren’t “entitled” to live in new construction. Especially in CA coastal counties. It warns that SD companies will pack up and leave if their prospective employees can’t find “affordable” housing. Well, the truth is that SD’s “sunshine tax” will no longer prevail and SD companies will finally be forced to pay their employees a living wage if they want to retain them for any length of time (or retain them at all). It’s about time.
“Affordable” neighborhoods will always be present in SD County, yes even within 20 miles of job centers. Yes, most of these areas have available housing which is 50 to 90 years old and people accepting jobs here will be forced to accept older housing in these “affordable” established areas if they want to move here and those areas are all they can afford. That’s the way its been in SF, SM and SC Counties (on the SF peninsula) for over 15 years now.
The report goes on to say that “boomers” are “hoarding” houses in SD County. Well boomers, seniors AS WELL AS their younger “heirs” all over the state have every right to “hoard” as many houses as their families own. I personally know boomers and seniors who own between 4 and 44 (yeah, I said 44) SFR’s in San Diego County, the vast majority of them rentals. Perhaps most of these (older) houses might not suit the “sensibilities” of entitled millenials and beyond who are attempting a job transfer here from their mcmansion situated on a man-made lake on a prairie in the middle of TX but that’s just too bad. Again, San Diegans don’t owe newcomers a damn thing. Just like the available housing in tiny Milbrae and Burlingame (SM County), SD’s available housing inventory is what it is. I don’t understand why the report is accusing longtime SD residents of “aging in place” as if that is somehow a crime. The current crop of first-time buyers don’t want these boomers’ and seniors’ houses. They don’t even want to rent them! What exactly is the problem, here?
As long as Props 13, 58 and 193 remain on CA’s books as the law of the land, ALL GENERATIONS will continue to “hoard” houses in CA (ESP along the pricey coast) into perpetuity. And why wouldn’t they? A repeal of these laws are the only events that will change the behavior of longtime CA homeowners in this regard.
The report is a lot of fluff and bluster and nothing will ever be done to house these hundreds of thousands of “newcomers” which are “expected” to move here. The (over)building party is over so now prospective buyers/renters have to actually face reality if they wish to move here and remain here. It’s as it should be.
If “newcomers” can’t find housing in SD County that they can afford AND are willing to accept, they won’t move here. It’s that simple (active-duty military personnel excepted). Why is it so hard for so many to envision SD County NOT growing, or growing only a tiny bit (<1%)? What is so wrong with that?
Participant[quote=HLS] . . .
He didn’t have to mention HELOC. I’m 99.5% sure it’s a HELOC based on the details.
MM…. If the HELOC is left in 2nd position, it’s going to require a subordination whether it is at zero, maxed out or any balance in between. It’s probably going to cost $250 to subordinate.
Another recent issue recently is Solar lien subordinations, which can also delay loan fundings. . . .Self employed people with a 680 credit score and lots of debt can get approved for 97% LTV loans.
Loans are approved on income & expenses.
They are priced on a combination of credit score & equity.Lots & lots of people get approved with 3% equity.
Lots of people with 800+ credit scores and 50% equity get turned down, even if they have $1 million dollars in the bank. . . .There are people with $1,000,000 homes with an 800 credit score, $1M in the bank and no mortgage who don’t qualify for a $200,000 refi loan . . . .[/quote]
HLS, I glanced at the OP when there were no responses to it on Friday and my first thought was that he would be required to subordinate, regardless of the balance (or no balance) on his HELOC. I’ve seen this scenario played out dozens of times and I have never been a loan officer or broker. I didn’t have time to respond at the time but you responded in much more infinite detail than I could ever explain it. Thanks for reiterating the nonsensical gubment lending regulations arising out of the “mortgage crisis” of the aughts. Now that there are few to zero “portfolio lenders” to choose from, stupid reigns over common sense. Stupid is as stupid does but it’s “good enough for gubment work.”Yeah, everything you posted here about high-asset, “low-income” individuals (even those with stellar credit) not being able to qualify for a small (“conforming,” in gubmentese) mortgage is now true since virtually *all* mortgages offered today are gubment-backed in some fashion. Of course, these high-asset people can always pay cash for a RE purchase. I actually know people who fit your description of owning a residence (free and clear) worth >$1M with a 740+ credit score and plenty of other assets (both liquid and illiquid) who cannot qualify for even a $150K mortgage today!
Instead, they get mailers every week advertising (usurious) “reverse mortgages” . . . LOL.
Our gubment’s nuevo-“organized” secondary mortgage markets have now decided they will “categorize” potential borrowers into meaningless little groups solely based upon their current income (but not taking into account their YUGE monthly childcare expenses, for example) in calculating their back-end ratios for a mortgage. Their ridiculous underwriting methods contribute to financial suicide for young families … especially those who are buying with FHA/VA or 95% conventional mortgages with hefty up-front and/or monthly MIP/PMI premiums or an up-front (100% financed) VA funding fee and thus are underwater the day after escrow closes.
In recent years, the NAR has been pushing the Obama Administration relentlessly to increase homeownership among the masses when the masses actually have no business being homeowners. And it has worked. Witness the sheer amount of recent homeowners who can’t afford their water bills or to repair their broken down vehicles parked on the street just months after purchasing their first homes. And this is in areas where no MR/HOA exists!
It’s unconscionable.
ParticipantFIH, there is nothing wrong with Americans who were born here and continued to live in the area they were born into adulthood and who trained for jobs in industries in their region/area and who went to work in that industry decades ago to have the expectation that they can remain in that same industry (if competent) and retire from that industry.
Yeah, a run-on sentence … I know, but I’m trying to get the message across that Americans deserve to make a living for their families … wherever they live in the USA. If they trained in a field in 1974 and are still able-bodied and competent in that field today, then they should still be able to work in it until they retire.
Do software engineers in CA need more people (ex: former auto workers and former ag workers) to train in their fields and begin competing with them for jobs nationwide? Don’t you people have enough competition with H1B workers and off-shoring of some of your jobs?
FIH, why are your posts frequently condemning people who only want to make a living IN their respective regions until they retire? It’s no skin off your back if they get to work and stay off unemployment and SNAP.
That’s how I’ve been reading your posts.
ParticipantAt least I have actually made considerable contributions to this forum. Whether the reader considers them informational or valuable … or not … is up to them. If I saw a poster who was asking for help/advice and I saw it and had the time to offer it in attempt to help them, I did. Whoever doesn’t want to read my posts is free to block me.
All I can say as to the flippant comments of other posters (ie zk and harvey [aka pri_dk]) re: MY posts is to “consider the source.” Good L@rd! Pot meet kettle, lol ….
Participant[quote=bearishgurl][quote=sdgrrl]Wow. I don’t know who said it, but someone thought the realtor was an investor. His brother is the seller.[/quote]sdgrrl, this is typical with flipper teams. Many of them are family affairs, with an “in-house” (related) agent or broker among them. However, the listing agent in your MLS pfl is shown as Kristi Stevens, a female. Have you ever actually met her?
I don’t like the new request. It seems they want to ensure that they have a few thousand in case you walk, for whatever reason. They want you to hang in there as long as it takes your lender to order your VA appraisal, the appraisal to be completed and the report to come back. Think about that. That could take well beyond your 17-day (or 12-day, as the case may be) contingency period.
It appears that you were trying to buy it with a very low downpayment (fraction of the closing costs) or as a VA no no. What does your agent advise you to do?[/quote]Earlier, the OP posted that the (listing) realtor was the brother of the seller. This is the way I understood it.
If this is the case, do you (OP) know why are they used a “straw agent” to list the property on the MLS? She is licensed …. NOT an unlicensed “assistant.”
Participant[quote=sdgrrl] . . . Someone on this thread made a statement that the agent sounds like he is an investor in it. Our realtor tells us the buyer and agent are brothers….[/quote]
I don’t think the OP’s agent is a relative of the seller or his agent. I think she meant to say “seller,” not buyer.
OP, are you saying here that your agent told you that seller and his agent are brothers?
Who is “Kristi Stevens” of Coldwell Banker in Santee? What is her role in your transaction? She is listed in your Sandicor MLS pfl as the listing agent for your listing. I’m going to ask you again, have you ever actually met her? Has your agent ever met her??
Participant[quote=sdgrrl]Wow. I don’t know who said it, but someone thought the realtor was an investor. His brother is the seller.[/quote]sdgrrl, this is typical with flipper teams. Many of them are family affairs, with an “in-house” (related) agent or broker among them. However, the listing agent in your MLS pfl is shown as Kristi Stevens, a female. Have you ever actually met her?
I don’t like the new request. It seems they want to ensure that they have a few thousand in case you walk, for whatever reason. They want you to hang in there as long as it takes your lender to order your VA appraisal, the appraisal to be completed and the report to come back. Think about that. That could take well beyond your 17-day (or 12-day, as the case may be) contingency period.
It appears that you were trying to buy it with a very low downpayment (fraction of the closing costs) or as a VA no no. What does your agent advise you to do?
ParticipantYeah, ucodegen, I also thought the trailer (Conex) may have been used to store things in because the house had been flooded. I do agree that a “roll on” with an open-top (with one end open, if desired) would be better to use to get rid of debris. However, with county parcels which are lower than the street (as this one is), I’ve seen multiple instances where a gravel or dirt … or even muddy half-circle driveway made it impossible for a tractor trailer to deliver a roll-on and set it down on the property. The driveway was too steep, too slippery, a weird angle, etc and there was a danger that the tractor trailer would end up inadvertently backing into the house. I feel the previous homeowner brought that thing down with his own vehicles and it was still there when the flipper bought it. It is possible that the property was vacant for some or all of years between when the google street view photo was taken and when the flipper bought it in November 2015.
I completely agree with the lack of building codes in SD County in 1947 … especially in unincorporated areas as we are discussing here. The City of Chula Vista was long incorporated by then and had few building codes at that time. Yes, the soil was not compacted before pouring a foundation or driveway/patio and no rebar or “big rock” beds were used. In addition, there was really no code enforcement in place until the late ’60’s. Homeowners built all kinds of things on their lots … even garages … all the way to the lot lines and these structures are mostly all still standing today (“grandfathered”).
I agree that the flippers could have “fixed” that short retaining wall in less than one day, but you’re right, it likely has an inadequate or no foundation and has likely moved closer to the house over the years. More lipstick on the pig.
Thanks for panning the street in google to see the continuation of the crack. I didn’t bother to do that.
The prior tax roll value on the current supplemental tax bill is only $75,949. For that area, this indicates an approximate late ’70’s purchase by one or more of the owners (or their benefactors).
I’m interested to hear what the OP’s (or former buyer principal’s) inspection report(s) turn up.
Participant[quote=mixxalot]Uh oh, BG is baaaaack![/quote]I tried to help you here on the forum to find a house to make an offer on, mixxalot, on at least two occasions, if my memory serves me correctly. So did several other Piggs.
But you didn’t respond to any of our suggestions, except to post weeks/months later that you were still looking for a house. So I gave up. And so did you, apparently.
Your later preferred locations were all over the map, as I recall. Did you actually ever purchase a residence for yourself in SD County?
Participant[quote=Rich Toscano][quote=bearishgurl]For whatever reason, flu, your animosity and bitterness (currently towards me) has been shining on high beam around here in recent weeks. I thinks its well past time that you block me so you aren’t bothered by my posts … especially during the business day when you are supposedly “working.” You’ve turned into the “Champion Thread Polluter” extraordinaire.[/quote]
Don’t worry bg, you’re still the reigning champ!
Well, I was going to just leave it at that, but it feels too snarky to just make a comment like that without explaining the grievance behind it.
Speaking not as the site owner here, but just an observer — a guy who reads the comments. I’m hard pressed to find any significant thread where you have not written epic length posts, a good proportion of which fall into one (or more!) of the following categories:
– barely relevant
– even less relevant than that
– not even understandable, really
– wild speculation presented as factAnd I’ll admit to some personal bias here, but it doesn’t help that so many of your novel-length comments these days are impassioned defenses of that goose-stepping canned ham who you inexplicably think would be a good president.
So, when you actually accuse someone else of being a Champion(!) Thread Polluter… boy, I just can’t sit back and watch that without saying something.
To end on a positive note, I do appreciate that you usually keep things polite and positive, and you are a good citizen in following the “no political threadjacks” rule. But with that said, if you think “Thread Pollution” is a problem… you should take a look at your own posts and consider how you might be contributing to it.[/quote]Well, Rich, I actually haven’t commented on why anyone would make a good president so I don’t know where you are seeing that. I’ve only commented on the process (delegate count, prediction thread, etc) and that I was a one-issue voter this year. That issue was to abolish the ACA. If anything, I have been attacked by others here and accused of being a “racist” and “woman-hater” because I posted that I changed my longtime voter registration from Dem to Rep back in April. Other longtime Piggs have also stated that they intended to vote Rep this year for President but quickly shut down and stopped posting after that, no doubt when they saw all the hateful comments directed at me.
I honestly don’t care if anyone reading my posts “believes” them or not. They are welcome to find out for themselves whether they are accurate, semi-accurate … or not accurate. In this particular case, I understand the geography of the area, I understand the demographics/culture of the area. I understand why the infrastructure around there is a bit “scanty” (even though CPW proposed to make more improvements around there). In this particular instance, I get it all, Rich. No one can take that away from me.
Every now and then, we get a prospective buyer on the forum that, based upon their posts and linked listings, they (and often their agent) appear to the reader to have absolutely no idea what it is that they are actually looking at. If I see the thread and I can offer any useful suggestions, I often do. They can take it or leave it.
Caveat emptor, as they say in real-estate speak!
Pigg flu has acted ridiculous in recent weeks, trolling around after my posts and not adding anything useful to the thread but instead taking every opportunity to insert a little barb or insult directed at me. Most of the time (if I see them), I just brush them off. In the past, he’s posted dozens of solid rows of “hieroglyphics” and other symbols to block others’ posts and even pulled this stunt to pollute his own thread (at least one). If you don’t mind your bandwidth used up in this manner, than neither do I. At the very least, it’s immature and detracts from the reading pleasure of this forum.
Rich, are you saying that you would rather read “tweets” from me? I type 85-90 wpm so typing a 4-paragraph post probably doesn’t take me as long as it would another Pigg to type one paragraph. In addition, I only visit this site when I am at my desk, on a desktop computer. I do not visit it from devices.
ParticipantIt appears that my huge body of local RE knowledge bothers you, flu. If you don’t like reading it, then block me. Do it now, please.
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sdgrrl, it appears that once again, Pigg flu has tried to hijack and pollute another thread with his personal insults. It’s not the first time and likely won’t be the last. Just ignore him.
In no way were my comments trying to “kill” your deal. They were intended to offer you insight as to common problems to look for in the area of the listing you made a recent offer on. I hope upon hope that that if your offer is accepted, there are no structural problems with the flipped older home you have placed an offer on and that you are satisfied with the price you will pay for it.
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