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ParticipantWould make sense — I always thought that was a duplex… Still not a great deal for only 1050sf…
ParticipantHmmmm, just checking that one here on Zillow. I think I once knew someone who rented that place! It’s in 92103, right? Do you know if it’s the red one or the yellow one? There are two little stucco houses right next to each other there on the North side of Robinson. That would be an amazing loss. $470K is still too much for a 1050sf 2/2 in a noisy area like that, but it’s a start in the right direction. Certainly it sounds like a deal but it’s probably an error. Zillow shows that it just sold on 4/26/2007 for $642K, 4/29/2005 for $780K, and 10/01/2004 for $722K. Seems fishy, those are extremely high $/sf values for such a tiny place…
ParticipantHmmmm, just checking that one here on Zillow. I think I once knew someone who rented that place! It’s in 92103, right? Do you know if it’s the red one or the yellow one? There are two little stucco houses right next to each other there on the North side of Robinson. That would be an amazing loss. $470K is still too much for a 1050sf 2/2 in a noisy area like that, but it’s a start in the right direction. Certainly it sounds like a deal but it’s probably an error. Zillow shows that it just sold on 4/26/2007 for $642K, 4/29/2005 for $780K, and 10/01/2004 for $722K. Seems fishy, those are extremely high $/sf values for such a tiny place…
ParticipantI predict that the banks will end up with at least a couple of entire buildings downtown (from the stock being built now) and that they will be converted to apartments and vacation rentals. Some buildings will also end up with a 50/50 structure between condos and apartments/rentals. There are simply not enough buyers for these units at $400/sf+ and probably not even at $300/sf+ once the funny money voodoo loans are removed from the equation. These buildings could probably be turned into profitable operations if they were renting 1000sf units for $2000/mo or so, especially if they were able to keep some of the amenities like the gym and pool operating.
ParticipantI predict that the banks will end up with at least a couple of entire buildings downtown (from the stock being built now) and that they will be converted to apartments and vacation rentals. Some buildings will also end up with a 50/50 structure between condos and apartments/rentals. There are simply not enough buyers for these units at $400/sf+ and probably not even at $300/sf+ once the funny money voodoo loans are removed from the equation. These buildings could probably be turned into profitable operations if they were renting 1000sf units for $2000/mo or so, especially if they were able to keep some of the amenities like the gym and pool operating.
ParticipantMine has gone up 4% per year in the last 2 years. I get more than that in my savings account now.
ParticipantMine has gone up 4% per year in the last 2 years. I get more than that in my savings account now.
Participantnsr is right, and those HOA fees are calculated too low to begin with — almost every new building has to increase them within the first year. Also, just think what those fees are going to look like when half the building is empty. And of course there are all sorts of weird maintenance issues that will crop up. In the last “luxury” condo building I lived in, my supposedly high-end neighbors started stealing lightbulbs from the common areas rather than pay to replace the ones in their own units. The rest of us of course had to pitch in to cover this…
Participantnsr is right, and those HOA fees are calculated too low to begin with — almost every new building has to increase them within the first year. Also, just think what those fees are going to look like when half the building is empty. And of course there are all sorts of weird maintenance issues that will crop up. In the last “luxury” condo building I lived in, my supposedly high-end neighbors started stealing lightbulbs from the common areas rather than pay to replace the ones in their own units. The rest of us of course had to pitch in to cover this…
ParticipantShe is lucky to get out at all. I’ll bet that the person buying this gem financed it 100%. The buildings are still going up down here, there are at least five within a few blocks of my place in various stages of completion. Who on earth is going to buy these things?
ParticipantShe is lucky to get out at all. I’ll bet that the person buying this gem financed it 100%. The buildings are still going up down here, there are at least five within a few blocks of my place in various stages of completion. Who on earth is going to buy these things?
Participantby then, all the jobs will be outsourced to mexico anyway. californians will be border jumping to work in the maquiladoras.
Many of the maquiladoras will be gone by then because of even cheaper competitors from China. The only jobs left in Mexico will be unloading Chinese container ships and driving trucks, just as soon as the SPP/NAU goes through. I’m sure everyone on this board will be allright, though — your jobs could never be outsourced, after all…
Participantby then, all the jobs will be outsourced to mexico anyway. californians will be border jumping to work in the maquiladoras.
Many of the maquiladoras will be gone by then because of even cheaper competitors from China. The only jobs left in Mexico will be unloading Chinese container ships and driving trucks, just as soon as the SPP/NAU goes through. I’m sure everyone on this board will be allright, though — your jobs could never be outsourced, after all…
ParticipantCurrently renting, but would like to buy. Using an 80/20 fixed rate loan, I’ll pay up to $2700/mo (PITI in 2007 dollars) to live in a nice house 1800sf or larger, in the following neighborhoods:
Mission Hills/Hillcrest
Nice parts of North/South Park
Solana Beach/Del Mar
Encinitas/LeucadiaNeeds to be at least a 2/2 with a 2-car garage. If this is never possible, I’ll just rent for less. Already get a business expense deduction for part of the rent so the MID is not a factor.
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