[biggoldbear]

My guess is that prices have simply come down enough to where more people that have wanted to buy a house for a long time, can now finally afford to, not for an investment, to flip, etc.. but just to live in and enjoy. Maybe not the smartest thing right now in case their current income falters, since you can’t cover the mortgage with rent or sell within the next 7+ years without taking a loss, but that is a cost that a lot of people are willing to take to own a home. These are not stocks, and have an intrinsic and sentimental value beyond market price, and I’d guess the majority of those buying now are not doing so because they foresee a huge rise in prices as before, they simply want to own a house and can now finally afford it.

Just my 2 cents (a self admitted knife catcher… in escrow as we speak)

[biggoldbear]

My guess is that prices have simply come down enough to where more people that have wanted to buy a house for a long time, can now finally afford to, not for an investment, to flip, etc.. but just to live in and enjoy. Maybe not the smartest thing right now in case their current income falters, since you can’t cover the mortgage with rent or sell within the next 7+ years without taking a loss, but that is a cost that a lot of people are willing to take to own a home. These are not stocks, and have an intrinsic and sentimental value beyond market price, and I’d guess the majority of those buying now are not doing so because they foresee a huge rise in prices as before, they simply want to own a house and can now finally afford it.

Just my 2 cents (a self admitted knife catcher… in escrow as we speak)

[biggoldbear]

My guess is that prices have simply come down enough to where more people that have wanted to buy a house for a long time, can now finally afford to, not for an investment, to flip, etc.. but just to live in and enjoy. Maybe not the smartest thing right now in case their current income falters, since you can’t cover the mortgage with rent or sell within the next 7+ years without taking a loss, but that is a cost that a lot of people are willing to take to own a home. These are not stocks, and have an intrinsic and sentimental value beyond market price, and I’d guess the majority of those buying now are not doing so because they foresee a huge rise in prices as before, they simply want to own a house and can now finally afford it.

Just my 2 cents (a self admitted knife catcher… in escrow as we speak)

[biggoldbear]

My guess is that prices have simply come down enough to where more people that have wanted to buy a house for a long time, can now finally afford to, not for an investment, to flip, etc.. but just to live in and enjoy. Maybe not the smartest thing right now in case their current income falters, since you can’t cover the mortgage with rent or sell within the next 7+ years without taking a loss, but that is a cost that a lot of people are willing to take to own a home. These are not stocks, and have an intrinsic and sentimental value beyond market price, and I’d guess the majority of those buying now are not doing so because they foresee a huge rise in prices as before, they simply want to own a house and can now finally afford it.

Just my 2 cents (a self admitted knife catcher… in escrow as we speak)

[biggoldbear]

I am primarily looking in the southeast portion of Poway (near the bend in Poway Rd). What do you guys see as a good price or where you expect it to go in the next year or so. I feel like the 325-350 range brings in a lot more buyers and may represent the bottom (kind of like what we are seeing in Mira Mesa). Do you guys expect it to go lower than that? I don’t really foresee prices under 300k for a 1300+ sf house… maybe I’m being too optimistic?

[biggoldbear]

I am primarily looking in the southeast portion of Poway (near the bend in Poway Rd). What do you guys see as a good price or where you expect it to go in the next year or so. I feel like the 325-350 range brings in a lot more buyers and may represent the bottom (kind of like what we are seeing in Mira Mesa). Do you guys expect it to go lower than that? I don’t really foresee prices under 300k for a 1300+ sf house… maybe I’m being too optimistic?

[biggoldbear]

I am primarily looking in the southeast portion of Poway (near the bend in Poway Rd). What do you guys see as a good price or where you expect it to go in the next year or so. I feel like the 325-350 range brings in a lot more buyers and may represent the bottom (kind of like what we are seeing in Mira Mesa). Do you guys expect it to go lower than that? I don’t really foresee prices under 300k for a 1300+ sf house… maybe I’m being too optimistic?

[biggoldbear]

I am primarily looking in the southeast portion of Poway (near the bend in Poway Rd). What do you guys see as a good price or where you expect it to go in the next year or so. I feel like the 325-350 range brings in a lot more buyers and may represent the bottom (kind of like what we are seeing in Mira Mesa). Do you guys expect it to go lower than that? I don’t really foresee prices under 300k for a 1300+ sf house… maybe I’m being too optimistic?

[biggoldbear]

I am primarily looking in the southeast portion of Poway (near the bend in Poway Rd). What do you guys see as a good price or where you expect it to go in the next year or so. I feel like the 325-350 range brings in a lot more buyers and may represent the bottom (kind of like what we are seeing in Mira Mesa). Do you guys expect it to go lower than that? I don’t really foresee prices under 300k for a 1300+ sf house… maybe I’m being too optimistic?

[biggoldbear]

Thanks… I agree completely with your assessment, and we are definitely thinking long term, not just investment. I figure it would be better to wait, but hopefully not a long term liability if we want to upgrade 7-10yrs down the line.

Thanks to everyone for their input… I know I’m setting myself up to catch a knife, just trying to minimize the bleeding ;-), any help (besides just wait… that’s a given) i.e. rent/price ratios, specific areas to go to/avoid, anything I haven’t thought of…?

Anybody have advice on trolling for foreclosures… good resources etc?

[biggoldbear]

Thanks… I agree completely with your assessment, and we are definitely thinking long term, not just investment. I figure it would be better to wait, but hopefully not a long term liability if we want to upgrade 7-10yrs down the line.

Thanks to everyone for their input… I know I’m setting myself up to catch a knife, just trying to minimize the bleeding ;-), any help (besides just wait… that’s a given) i.e. rent/price ratios, specific areas to go to/avoid, anything I haven’t thought of…?

Anybody have advice on trolling for foreclosures… good resources etc?

[biggoldbear]

Thanks… I agree completely with your assessment, and we are definitely thinking long term, not just investment. I figure it would be better to wait, but hopefully not a long term liability if we want to upgrade 7-10yrs down the line.

Thanks to everyone for their input… I know I’m setting myself up to catch a knife, just trying to minimize the bleeding ;-), any help (besides just wait… that’s a given) i.e. rent/price ratios, specific areas to go to/avoid, anything I haven’t thought of…?

Anybody have advice on trolling for foreclosures… good resources etc?

[biggoldbear]

Thanks… I agree completely with your assessment, and we are definitely thinking long term, not just investment. I figure it would be better to wait, but hopefully not a long term liability if we want to upgrade 7-10yrs down the line.

Thanks to everyone for their input… I know I’m setting myself up to catch a knife, just trying to minimize the bleeding ;-), any help (besides just wait… that’s a given) i.e. rent/price ratios, specific areas to go to/avoid, anything I haven’t thought of…?

Anybody have advice on trolling for foreclosures… good resources etc?

[biggoldbear]

Thanks… I agree completely with your assessment, and we are definitely thinking long term, not just investment. I figure it would be better to wait, but hopefully not a long term liability if we want to upgrade 7-10yrs down the line.

Thanks to everyone for their input… I know I’m setting myself up to catch a knife, just trying to minimize the bleeding ;-), any help (besides just wait… that’s a given) i.e. rent/price ratios, specific areas to go to/avoid, anything I haven’t thought of…?

Anybody have advice on trolling for foreclosures… good resources etc?

[biggoldbear]

I feel like the rent fall back plan is getting close. I was looking on craigslist and 3/4 br 2 bath houses @1500 sf in Poway look like they rent for ~$2000+ (Any more information on this would be greatly appreciated!)

I’ll try to hold my wife back until the fall buying season (this may be tough ;-)), but I think we’re going to put our feelers out there and might jump at something in the sub $350 range…

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