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Having just moved back down here from Ventura Cty., we have recently gone through the job search/offers. San Diego jobs definitely DO NOT pay the high salaries as other areas. The employers call it the ‘sunshine factor’. Yeah great, so I get sunshine but pay the same cost of living. This is the reason the housing prices started slipping here first in ’05 when the rest of So Cal hadn’t seen much impact….yet.
The pricing is overpriced here, or you can look at it in the reverse, the employees are underpayed!

Also there was some discussion before on various industries here in SD. We are still believers in the Biotech world. There are companies that provide drugs that can greatly increase a patients quality of life. Hopefully more of the SD start ups will hit on something big to bring more jobs here. With UCSD research as a center to all of this, it is still very likely that over the next 10 years SD will develop some strong home grown Biotech firms. Also, I don’t believe this work will be farmed out so easily to the Asian countries. This avenue has been looked at by the major biotechs and it was deemed NOT favorable. The only slight possibility is that Singapore may be able to come up to the standards that are necessary to manufacture. Other than that, not going to happen. There are many other places that offer enough tax shelters that would offset risks of going to someplace like China where quality is not even in the vocabulary.

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Having just moved back down here from Ventura Cty., we have recently gone through the job search/offers. San Diego jobs definitely DO NOT pay the high salaries as other areas. The employers call it the ‘sunshine factor’. Yeah great, so I get sunshine but pay the same cost of living. This is the reason the housing prices started slipping here first in ’05 when the rest of So Cal hadn’t seen much impact….yet.
The pricing is overpriced here, or you can look at it in the reverse, the employees are underpayed!

Also there was some discussion before on various industries here in SD. We are still believers in the Biotech world. There are companies that provide drugs that can greatly increase a patients quality of life. Hopefully more of the SD start ups will hit on something big to bring more jobs here. With UCSD research as a center to all of this, it is still very likely that over the next 10 years SD will develop some strong home grown Biotech firms. Also, I don’t believe this work will be farmed out so easily to the Asian countries. This avenue has been looked at by the major biotechs and it was deemed NOT favorable. The only slight possibility is that Singapore may be able to come up to the standards that are necessary to manufacture. Other than that, not going to happen. There are many other places that offer enough tax shelters that would offset risks of going to someplace like China where quality is not even in the vocabulary.

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Hipmatt,
Great video…only made it to 4 minutes as it’s unbelievable how many homes are on the market there. We were looking at buying about 1 1/2 years ago in the area…thank god we came to our senses, the prices just were unjustifiable then.

I believe one of the homes you show on there was part of the San Diego/Riverside foreclosure ‘Auction’ by these guys, http://www.ushomeauction.com/index.php. It’s a white capecod looking home a little over 3 minutes into the video.

If this is the case then the bank didn’t take there offer of just over 500K and decided to bet on trying to keep selling it themselves….doesn’t look like that’s going so well for them….

Thanks for the video.

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Hipmatt,
Great video…only made it to 4 minutes as it’s unbelievable how many homes are on the market there. We were looking at buying about 1 1/2 years ago in the area…thank god we came to our senses, the prices just were unjustifiable then.

I believe one of the homes you show on there was part of the San Diego/Riverside foreclosure ‘Auction’ by these guys, http://www.ushomeauction.com/index.php. It’s a white capecod looking home a little over 3 minutes into the video.

If this is the case then the bank didn’t take there offer of just over 500K and decided to bet on trying to keep selling it themselves….doesn’t look like that’s going so well for them….

Thanks for the video.

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you are all educating me on the financial market and debacle that could take place…I do find it worrisome as to how this will affect the overall economy.

JG,
I read the article you posted as I grew up in the Chicago burbs and am very familiar with Barrington area.

Being a Gen Xer, it is very clear to us that job stability/security ‘ain’t what it used to be’. My husband and I both were downsized by the last tech bust (company in Irvine we both worked for went from over 3k employees to about 500-700 within 3 years).

What this article shows is that the majority of people have experienced job instability and you would think this would have a major impact on psychology…even a small hiccup in the economy/wall street markets and spending will pull back-i.e. recession.

Our experience at such a young age taught us many lessons that I am grateful for. This is why we are very conservative with our housing position and hope to pay off a home sooner rather than later…if the worst case scenario plays out in the economy, we would like to weather the storm with a roof over our heads.

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you are all educating me on the financial market and debacle that could take place…I do find it worrisome as to how this will affect the overall economy.

JG,
I read the article you posted as I grew up in the Chicago burbs and am very familiar with Barrington area.

Being a Gen Xer, it is very clear to us that job stability/security ‘ain’t what it used to be’. My husband and I both were downsized by the last tech bust (company in Irvine we both worked for went from over 3k employees to about 500-700 within 3 years).

What this article shows is that the majority of people have experienced job instability and you would think this would have a major impact on psychology…even a small hiccup in the economy/wall street markets and spending will pull back-i.e. recession.

Our experience at such a young age taught us many lessons that I am grateful for. This is why we are very conservative with our housing position and hope to pay off a home sooner rather than later…if the worst case scenario plays out in the economy, we would like to weather the storm with a roof over our heads.

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Neighborhoods Considering: Poway
Condo/House: House with some land
Price Range: under 650K
Size Range: 1700+
Currently (Rent/Own): Rent
Shopping the Market?: I keep looking online as I am watching to see if the inventory for our specific criteria ticks up…it hasn’t yet. If we are unable to find a home with some land than we may settle for a regular SFR with a large lot in the Poway, RB, Rancho Penas. areas. We also had looked at the Temecula area as we have family there, but not convinced the commute is even feasible. So we’ll see how it plays out. We are hoping to find something by end of ’08.

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Neighborhoods Considering: Poway
Condo/House: House with some land
Price Range: under 650K
Size Range: 1700+
Currently (Rent/Own): Rent
Shopping the Market?: I keep looking online as I am watching to see if the inventory for our specific criteria ticks up…it hasn’t yet. If we are unable to find a home with some land than we may settle for a regular SFR with a large lot in the Poway, RB, Rancho Penas. areas. We also had looked at the Temecula area as we have family there, but not convinced the commute is even feasible. So we’ll see how it plays out. We are hoping to find something by end of ’08.

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We are looking in NC inland (Poway, RB area) and will look for something with a bit of land. Probably looking for at least a 20% decrease from current. We’ll see when that happens…so far not much inventory on the market for what we want.

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We are looking in NC inland (Poway, RB area) and will look for something with a bit of land. Probably looking for at least a 20% decrease from current. We’ll see when that happens…so far not much inventory on the market for what we want.

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I am a SAHM too and this is also why we are so price conscientious. I would never want to risk losing the equity we pulled out from the sale of our home last year as this is our safety net that gives us piece of mind in having only one income earner.

We will buy when we’re comfortable with the price…not trying to exactly time the market, just make a wise buying decision based on our circumstances.

That being said, if I had school aged children right now, I think it would be even harder to be renting and waiting on the sidelines. Moving around and trying to stay in the same school district would not be easy…so everyone’s personal situation is different.

I think most people here are in the same boat, just trying to get more insight on the current market conditions…and most are the type that have bought and sold and won’t hesitate to do again when the time is right for them.

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I am a SAHM too and this is also why we are so price conscientious. I would never want to risk losing the equity we pulled out from the sale of our home last year as this is our safety net that gives us piece of mind in having only one income earner.

We will buy when we’re comfortable with the price…not trying to exactly time the market, just make a wise buying decision based on our circumstances.

That being said, if I had school aged children right now, I think it would be even harder to be renting and waiting on the sidelines. Moving around and trying to stay in the same school district would not be easy…so everyone’s personal situation is different.

I think most people here are in the same boat, just trying to get more insight on the current market conditions…and most are the type that have bought and sold and won’t hesitate to do again when the time is right for them.

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On another note, there were a couple other articles discussing good locations to invest…so the media on real estate is a bit all over the place. Just interesting to read some other takes on it.

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On another note, there were a couple other articles discussing good locations to invest…so the media on real estate is a bit all over the place. Just interesting to read some other takes on it.

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Our story is similar to others here. We had bought our home in ’00 and sold in Mar. ’06 in Ventura County. Once we had our first child in ’05 our plan was to move back toward where we have family…San Diego. We sold at the peak up there, although prices haven’t come down that much in the area. We sold as the equity we took out allowed me to immediately quit my job and stay at home with our daughter, the best decision ever.
Also, we still own a rental property in Riverside County so we get the tax benefits of that.

So I am one of the wifes that really wants to “nest” but all my studies of economics and logic tell me to wait….so we are renting for now (even with baby #2 on the way). We just moved to San Diego and found a nice rental home in RB that we move to shortly.

We personally think we’ll be aggressively looking in winter ’07-08, but time will tell if the right opportunity presents itself.

Someone also posted that they spend way too much time looking at listings…I think I have the same issue! It’s hard not too as I have usually found the homes that we buy. I do enjoy everyone’s comments here and will continue to look here for support as a renter vs. former homeowner as this has been harder to transition to than realized.

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