[cabal]

Definitely a mistake to sell based on the limited info provided. You have 600K equity, a paltry 400K mortgage by CV standards and dual income. What’s the problem? Since neither of you were laid off in 08/09, chances are your employment is reasonably secure. If you still have legitimate job security concerns, consider selling and renting.

If your original loan was large saddling you with high payments, consider refinancing to a 30 yr loan taking advantage of the historical low rates. You can still target paying the loan off in 15-20 yrs by making extra payments, while reserving the option to make the lower 30 yr amortized payment. However, if your current PITI can be covered by rent, I probably wouldn’t do anything. Worst case scenario you both lose your jobs, rent your house out and move the family to a small apt.

Regarding the 1300 sf house, it’s definitely too small for a growing family of four. Maybe ok if you’re a few yrs removed from dorm life and use to a minimalist lifestyle with milk crates for furniture. Realistically, it’s just a glorified apt with small 10’x10’ bedrooms, combo lr/dr/fr and a tiny kitchen. If your children are young, you will become increasingly miserable as your entire house morphs into a mold injection junkyard.

[cabal]

SD R – I don’t know if you agree, but my current belief is that the lowest price home you’ll ever see in the Bougainvillea tract is 1.5M-1.6M via foreclosure. New in 2003, they started at about 1.3M. Some people I’ve talk to are more pessimistic thinking prices may drop below 1.4M due to lack of demand/buyers. I have a hard time envisioning these homes that cheap. It would wipe out the tracts down the hill like Lexington to under 1M!

Regarding freeway noise, you can literally stand on the edge of the bluff directly facing 56 and the noise is almost non discernible. Wind is also normal, unlike the most westerly, elevated CV tracts facing 5.

[cabal]

SD R – I don’t know if you agree, but my current belief is that the lowest price home you’ll ever see in the Bougainvillea tract is 1.5M-1.6M via foreclosure. New in 2003, they started at about 1.3M. Some people I’ve talk to are more pessimistic thinking prices may drop below 1.4M due to lack of demand/buyers. I have a hard time envisioning these homes that cheap. It would wipe out the tracts down the hill like Lexington to under 1M!

Regarding freeway noise, you can literally stand on the edge of the bluff directly facing 56 and the noise is almost non discernible. Wind is also normal, unlike the most westerly, elevated CV tracts facing 5.

[cabal]

SD R – I don’t know if you agree, but my current belief is that the lowest price home you’ll ever see in the Bougainvillea tract is 1.5M-1.6M via foreclosure. New in 2003, they started at about 1.3M. Some people I’ve talk to are more pessimistic thinking prices may drop below 1.4M due to lack of demand/buyers. I have a hard time envisioning these homes that cheap. It would wipe out the tracts down the hill like Lexington to under 1M!

Regarding freeway noise, you can literally stand on the edge of the bluff directly facing 56 and the noise is almost non discernible. Wind is also normal, unlike the most westerly, elevated CV tracts facing 5.

[cabal]

SD R – I don’t know if you agree, but my current belief is that the lowest price home you’ll ever see in the Bougainvillea tract is 1.5M-1.6M via foreclosure. New in 2003, they started at about 1.3M. Some people I’ve talk to are more pessimistic thinking prices may drop below 1.4M due to lack of demand/buyers. I have a hard time envisioning these homes that cheap. It would wipe out the tracts down the hill like Lexington to under 1M!

Regarding freeway noise, you can literally stand on the edge of the bluff directly facing 56 and the noise is almost non discernible. Wind is also normal, unlike the most westerly, elevated CV tracts facing 5.

[cabal]

SD R – I don’t know if you agree, but my current belief is that the lowest price home you’ll ever see in the Bougainvillea tract is 1.5M-1.6M via foreclosure. New in 2003, they started at about 1.3M. Some people I’ve talk to are more pessimistic thinking prices may drop below 1.4M due to lack of demand/buyers. I have a hard time envisioning these homes that cheap. It would wipe out the tracts down the hill like Lexington to under 1M!

Regarding freeway noise, you can literally stand on the edge of the bluff directly facing 56 and the noise is almost non discernible. Wind is also normal, unlike the most westerly, elevated CV tracts facing 5.

[cabal]

Aggregate unemployment numbers lack sufficient granularity to provide any useful insight. The linked data is not perfect, but look at the disparity between cities like Del Mar (5%) versus Escondido (10.5%). This is one reason why high end areas exhibit sticky prices, especially older established neighborhoods with limited new construction during the bubble years.

http://www.sandiegoatwork.com/pdf/lmi/unemployment_stats/dec09_subregion.pdf

[cabal]

Aggregate unemployment numbers lack sufficient granularity to provide any useful insight. The linked data is not perfect, but look at the disparity between cities like Del Mar (5%) versus Escondido (10.5%). This is one reason why high end areas exhibit sticky prices, especially older established neighborhoods with limited new construction during the bubble years.

http://www.sandiegoatwork.com/pdf/lmi/unemployment_stats/dec09_subregion.pdf

[cabal]

Aggregate unemployment numbers lack sufficient granularity to provide any useful insight. The linked data is not perfect, but look at the disparity between cities like Del Mar (5%) versus Escondido (10.5%). This is one reason why high end areas exhibit sticky prices, especially older established neighborhoods with limited new construction during the bubble years.

http://www.sandiegoatwork.com/pdf/lmi/unemployment_stats/dec09_subregion.pdf

[cabal]

Aggregate unemployment numbers lack sufficient granularity to provide any useful insight. The linked data is not perfect, but look at the disparity between cities like Del Mar (5%) versus Escondido (10.5%). This is one reason why high end areas exhibit sticky prices, especially older established neighborhoods with limited new construction during the bubble years.

http://www.sandiegoatwork.com/pdf/lmi/unemployment_stats/dec09_subregion.pdf

[cabal]

Aggregate unemployment numbers lack sufficient granularity to provide any useful insight. The linked data is not perfect, but look at the disparity between cities like Del Mar (5%) versus Escondido (10.5%). This is one reason why high end areas exhibit sticky prices, especially older established neighborhoods with limited new construction during the bubble years.

http://www.sandiegoatwork.com/pdf/lmi/unemployment_stats/dec09_subregion.pdf

[cabal]

[quote=Raybyrnes]Cabal
“My experience with Travelers so far has been great.”

Cabal I want you to qualify this statement for me. Have you had any claims with Travelers. Why is your experience with Travelers great?

Is it a that the coverage and service has been great or are you simply happy with the current premium vs the old premium and have your fingers crossed that service will be equal with both companies?[/quote]

I’ve had one claim with Travelers associated with the 2007 fires and none with the previous carrier. Damage was mostly collateral – smoke, half inch of ash everywhere, broken fence, snapped trees and thrashed landscaping. Initially, I didn’t file a claim, repaired the fence myself one weekend, vacuumed the pool / drain water / clean filter another weekend. After 2 weeks I threw in the towel as there was still tons of ash in the yard, roof, garage and attic, plus all the landscape damage.

I called on a weekday and 2 adjusters showed up the next day. I wasn’t home, so my wife showed them the house. My deductible was high, so I was just hoping for a few bucks to buy windex, a mop, and some plants from Home Depot. When I came home that night, there was a check sitting on my kitchen table large enough to buy a car. When policy renewal approached, I was expecting a cancellation notice. Instead, I received a renewal offer with a decrease to the premium. I couldn’t believe it – did I accidentally blow the CEO of Travelers or what?

[cabal]

[quote=Raybyrnes]Cabal
“My experience with Travelers so far has been great.”

Cabal I want you to qualify this statement for me. Have you had any claims with Travelers. Why is your experience with Travelers great?

Is it a that the coverage and service has been great or are you simply happy with the current premium vs the old premium and have your fingers crossed that service will be equal with both companies?[/quote]

I’ve had one claim with Travelers associated with the 2007 fires and none with the previous carrier. Damage was mostly collateral – smoke, half inch of ash everywhere, broken fence, snapped trees and thrashed landscaping. Initially, I didn’t file a claim, repaired the fence myself one weekend, vacuumed the pool / drain water / clean filter another weekend. After 2 weeks I threw in the towel as there was still tons of ash in the yard, roof, garage and attic, plus all the landscape damage.

I called on a weekday and 2 adjusters showed up the next day. I wasn’t home, so my wife showed them the house. My deductible was high, so I was just hoping for a few bucks to buy windex, a mop, and some plants from Home Depot. When I came home that night, there was a check sitting on my kitchen table large enough to buy a car. When policy renewal approached, I was expecting a cancellation notice. Instead, I received a renewal offer with a decrease to the premium. I couldn’t believe it – did I accidentally blow the CEO of Travelers or what?

[cabal]

[quote=Raybyrnes]Cabal
“My experience with Travelers so far has been great.”

Cabal I want you to qualify this statement for me. Have you had any claims with Travelers. Why is your experience with Travelers great?

Is it a that the coverage and service has been great or are you simply happy with the current premium vs the old premium and have your fingers crossed that service will be equal with both companies?[/quote]

I’ve had one claim with Travelers associated with the 2007 fires and none with the previous carrier. Damage was mostly collateral – smoke, half inch of ash everywhere, broken fence, snapped trees and thrashed landscaping. Initially, I didn’t file a claim, repaired the fence myself one weekend, vacuumed the pool / drain water / clean filter another weekend. After 2 weeks I threw in the towel as there was still tons of ash in the yard, roof, garage and attic, plus all the landscape damage.

I called on a weekday and 2 adjusters showed up the next day. I wasn’t home, so my wife showed them the house. My deductible was high, so I was just hoping for a few bucks to buy windex, a mop, and some plants from Home Depot. When I came home that night, there was a check sitting on my kitchen table large enough to buy a car. When policy renewal approached, I was expecting a cancellation notice. Instead, I received a renewal offer with a decrease to the premium. I couldn’t believe it – did I accidentally blow the CEO of Travelers or what?

[cabal]

[quote=Raybyrnes]Cabal
“My experience with Travelers so far has been great.”

Cabal I want you to qualify this statement for me. Have you had any claims with Travelers. Why is your experience with Travelers great?

Is it a that the coverage and service has been great or are you simply happy with the current premium vs the old premium and have your fingers crossed that service will be equal with both companies?[/quote]

I’ve had one claim with Travelers associated with the 2007 fires and none with the previous carrier. Damage was mostly collateral – smoke, half inch of ash everywhere, broken fence, snapped trees and thrashed landscaping. Initially, I didn’t file a claim, repaired the fence myself one weekend, vacuumed the pool / drain water / clean filter another weekend. After 2 weeks I threw in the towel as there was still tons of ash in the yard, roof, garage and attic, plus all the landscape damage.

I called on a weekday and 2 adjusters showed up the next day. I wasn’t home, so my wife showed them the house. My deductible was high, so I was just hoping for a few bucks to buy windex, a mop, and some plants from Home Depot. When I came home that night, there was a check sitting on my kitchen table large enough to buy a car. When policy renewal approached, I was expecting a cancellation notice. Instead, I received a renewal offer with a decrease to the premium. I couldn’t believe it – did I accidentally blow the CEO of Travelers or what?

[Author]

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