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bearishgurl
Participant[quote=utcsox]http://www.nytimes.com/2011/05/11/business/11housing.html?pagewanted=1&hp
What’s the effect of potential decline in conforming limit from $697,500 to $546,250 in San Diego Market?[/quote]
…Michael S. Barr, a former assistant Treasury secretary, said the federal government’s retrenchment would be painful for many communities. “There’s always going to be a line, and for the person just over it it’s always going to be an arbitrary line,” said Mr. Barr, who teaches at the University of Michigan Law School. “But there is no entitlement to living in a home that costs $750,000.”…
I agree with this. A FNMA/FDMC conforming limit should NOT be routinely funding luxury properties. That is not its purpose. Perfectly decent houses for families and everyone else are available in SD County for far less than $546,250. Besides, a maximum conforming loan amount of $546,250 will facilitate a purchase of $682,812 with the standard 20% downpayment. This is more than adequate to fund a mainstream purchase of a moderate to mid-upper-tier property in a very nice area.
Participant[quote=utcsox]http://www.nytimes.com/2011/05/11/business/11housing.html?pagewanted=1&hp
What’s the effect of potential decline in conforming limit from $697,500 to $546,250 in San Diego Market?[/quote]
…Michael S. Barr, a former assistant Treasury secretary, said the federal government’s retrenchment would be painful for many communities. “There’s always going to be a line, and for the person just over it it’s always going to be an arbitrary line,” said Mr. Barr, who teaches at the University of Michigan Law School. “But there is no entitlement to living in a home that costs $750,000.”…
I agree with this. A FNMA/FDMC conforming limit should NOT be routinely funding luxury properties. That is not its purpose. Perfectly decent houses for families and everyone else are available in SD County for far less than $546,250. Besides, a maximum conforming loan amount of $546,250 will facilitate a purchase of $682,812 with the standard 20% downpayment. This is more than adequate to fund a mainstream purchase of a moderate to mid-upper-tier property in a very nice area.
ParticipantGreat post, brian. I subscribe this philosophy as well.
scaredy, I have to admit that I have never seen so many overthinkers and agonizers all in one place over a potential RE purchase, who are presumably in the market for either a principal residence or investment property(ies).
If these potential buyers and/or their agents know their area of choice VERY well, there should not be this level of buying hesitation. Since there seems to be, this leads me to believe that these potential buyers and/or their agents are UNfamiliar with their preferred areas, that is, they are NOT able to tell a “good deal” from one they could very well lose equity on after purchase. No offense to any Pigg but this is just my observation.
Many potential buyers seem to be very worried about losing equity after purchase. This chronic worry plus unrealistic expectations in some instances are what’s keeping them on the fence.
ParticipantGreat post, brian. I subscribe this philosophy as well.
scaredy, I have to admit that I have never seen so many overthinkers and agonizers all in one place over a potential RE purchase, who are presumably in the market for either a principal residence or investment property(ies).
If these potential buyers and/or their agents know their area of choice VERY well, there should not be this level of buying hesitation. Since there seems to be, this leads me to believe that these potential buyers and/or their agents are UNfamiliar with their preferred areas, that is, they are NOT able to tell a “good deal” from one they could very well lose equity on after purchase. No offense to any Pigg but this is just my observation.
Many potential buyers seem to be very worried about losing equity after purchase. This chronic worry plus unrealistic expectations in some instances are what’s keeping them on the fence.
ParticipantGreat post, brian. I subscribe this philosophy as well.
scaredy, I have to admit that I have never seen so many overthinkers and agonizers all in one place over a potential RE purchase, who are presumably in the market for either a principal residence or investment property(ies).
If these potential buyers and/or their agents know their area of choice VERY well, there should not be this level of buying hesitation. Since there seems to be, this leads me to believe that these potential buyers and/or their agents are UNfamiliar with their preferred areas, that is, they are NOT able to tell a “good deal” from one they could very well lose equity on after purchase. No offense to any Pigg but this is just my observation.
Many potential buyers seem to be very worried about losing equity after purchase. This chronic worry plus unrealistic expectations in some instances are what’s keeping them on the fence.
ParticipantGreat post, brian. I subscribe this philosophy as well.
scaredy, I have to admit that I have never seen so many overthinkers and agonizers all in one place over a potential RE purchase, who are presumably in the market for either a principal residence or investment property(ies).
If these potential buyers and/or their agents know their area of choice VERY well, there should not be this level of buying hesitation. Since there seems to be, this leads me to believe that these potential buyers and/or their agents are UNfamiliar with their preferred areas, that is, they are NOT able to tell a “good deal” from one they could very well lose equity on after purchase. No offense to any Pigg but this is just my observation.
Many potential buyers seem to be very worried about losing equity after purchase. This chronic worry plus unrealistic expectations in some instances are what’s keeping them on the fence.
ParticipantGreat post, brian. I subscribe this philosophy as well.
scaredy, I have to admit that I have never seen so many overthinkers and agonizers all in one place over a potential RE purchase, who are presumably in the market for either a principal residence or investment property(ies).
If these potential buyers and/or their agents know their area of choice VERY well, there should not be this level of buying hesitation. Since there seems to be, this leads me to believe that these potential buyers and/or their agents are UNfamiliar with their preferred areas, that is, they are NOT able to tell a “good deal” from one they could very well lose equity on after purchase. No offense to any Pigg but this is just my observation.
Many potential buyers seem to be very worried about losing equity after purchase. This chronic worry plus unrealistic expectations in some instances are what’s keeping them on the fence.
May 10, 2011 at 2:56 PM in reply to: OT: holy crap…. Schwarzenegger and Shriver splitting up? #694172ParticipantAccording to this new piece, it sounds like Maria has wanted to leave Arnold for quite some time.
I’m not a psychologist, but from this piece, it sounds like Arnold suffers from narcissistic personality disorder (NPD). These persons so afficted are very difficult to live with and there is no cure for this problem. It can only be “managed,” usually unsuccessfully as the sufferer cannot help themselves and see nothing wrong with themselves or the way they treat people :={
May 10, 2011 at 2:56 PM in reply to: OT: holy crap…. Schwarzenegger and Shriver splitting up? #694255ParticipantAccording to this new piece, it sounds like Maria has wanted to leave Arnold for quite some time.
I’m not a psychologist, but from this piece, it sounds like Arnold suffers from narcissistic personality disorder (NPD). These persons so afficted are very difficult to live with and there is no cure for this problem. It can only be “managed,” usually unsuccessfully as the sufferer cannot help themselves and see nothing wrong with themselves or the way they treat people :={
May 10, 2011 at 2:56 PM in reply to: OT: holy crap…. Schwarzenegger and Shriver splitting up? #694859ParticipantAccording to this new piece, it sounds like Maria has wanted to leave Arnold for quite some time.
I’m not a psychologist, but from this piece, it sounds like Arnold suffers from narcissistic personality disorder (NPD). These persons so afficted are very difficult to live with and there is no cure for this problem. It can only be “managed,” usually unsuccessfully as the sufferer cannot help themselves and see nothing wrong with themselves or the way they treat people :={
May 10, 2011 at 2:56 PM in reply to: OT: holy crap…. Schwarzenegger and Shriver splitting up? #695007ParticipantAccording to this new piece, it sounds like Maria has wanted to leave Arnold for quite some time.
I’m not a psychologist, but from this piece, it sounds like Arnold suffers from narcissistic personality disorder (NPD). These persons so afficted are very difficult to live with and there is no cure for this problem. It can only be “managed,” usually unsuccessfully as the sufferer cannot help themselves and see nothing wrong with themselves or the way they treat people :={
May 10, 2011 at 2:56 PM in reply to: OT: holy crap…. Schwarzenegger and Shriver splitting up? #695362ParticipantAccording to this new piece, it sounds like Maria has wanted to leave Arnold for quite some time.
I’m not a psychologist, but from this piece, it sounds like Arnold suffers from narcissistic personality disorder (NPD). These persons so afficted are very difficult to live with and there is no cure for this problem. It can only be “managed,” usually unsuccessfully as the sufferer cannot help themselves and see nothing wrong with themselves or the way they treat people :={
ParticipantI want to add that a young family (3 kids) whom one of my kids went to school with in here Chula Vista was from Pacifica, where they had inherited a house (bought long ago). They leased it and moved here for a job. After about five years in SD County, they returned to Pacifica and are still there. The parents DID tell me that the schools were very good in Pacifica but of course it is more pricey than the other areas I mentioned.
I also thought of mentioning Sunnyvale for schools but feel it will usually be out of your 45 min commute range, in traffic. The housing inventory in Sunnyvale includes 60’s and 70’s two-stories, mostly on 5000 sf lots.
In addition, I feel a commute from Union City on south (East Bay) will hit the 45-min mark on most days.
Like some other posters, I vote for the City or San Bruno and other close surrounds simply because life is short and commuting takes away so much from the worker’s already long day. Proximity is far more important than size in this instance.
Former SD resident, it would help a lot if you posted your price range.
ParticipantI want to add that a young family (3 kids) whom one of my kids went to school with in here Chula Vista was from Pacifica, where they had inherited a house (bought long ago). They leased it and moved here for a job. After about five years in SD County, they returned to Pacifica and are still there. The parents DID tell me that the schools were very good in Pacifica but of course it is more pricey than the other areas I mentioned.
I also thought of mentioning Sunnyvale for schools but feel it will usually be out of your 45 min commute range, in traffic. The housing inventory in Sunnyvale includes 60’s and 70’s two-stories, mostly on 5000 sf lots.
In addition, I feel a commute from Union City on south (East Bay) will hit the 45-min mark on most days.
Like some other posters, I vote for the City or San Bruno and other close surrounds simply because life is short and commuting takes away so much from the worker’s already long day. Proximity is far more important than size in this instance.
Former SD resident, it would help a lot if you posted your price range.
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