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CoronitaParticipantIt's really amazing to me how well Saratoga and Derby Hill are holding up. Of the 6 Saratoga's available in the last couple of months, two have closed, two are pending, and two are available. The available homes have only been on the market a couple of weeks.
Of the two Derby Hill resales available, one was removed from the market and the other is pending after less than two weeks on the market. The 2/08 release of DH sold out and another release is scheduled for April.
I knew you would post about how well "Saratoga and DH are holding up." You work for Pardee?
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantIt's really amazing to me how well Saratoga and Derby Hill are holding up. Of the 6 Saratoga's available in the last couple of months, two have closed, two are pending, and two are available. The available homes have only been on the market a couple of weeks.
Of the two Derby Hill resales available, one was removed from the market and the other is pending after less than two weeks on the market. The 2/08 release of DH sold out and another release is scheduled for April.
I knew you would post about how well "Saratoga and DH are holding up." You work for Pardee?
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantIt's really amazing to me how well Saratoga and Derby Hill are holding up. Of the 6 Saratoga's available in the last couple of months, two have closed, two are pending, and two are available. The available homes have only been on the market a couple of weeks.
Of the two Derby Hill resales available, one was removed from the market and the other is pending after less than two weeks on the market. The 2/08 release of DH sold out and another release is scheduled for April.
I knew you would post about how well "Saratoga and DH are holding up." You work for Pardee?
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantBorat- Too late. Too many people…
Original poster. You really have to ask yourself. Why do you want to be a lawyer?… If it's a money thing. Think again. There are many careers that school/background doesn't make a huge difference (engineering might be one where say a UCLA or USCD won't make a huge difference). Talking to friends, it's completely different for lawyers. Top pay, school does matter. And a few lawyer friends from sh!tty law schools don't quite do quite as well as some of the geek types (could also be in their line of work). Also, I hope you like to read…a lot…
Patent law was something that I was interested in. But after thinking about things, I wouldn't like to be reading about what everyone else did. But that's just me.
That's why when I look at other careers, engineering isn't that bad. Yes, it's average pay, but you really don't have that sort of pecking order you do in other professions. The pay disparity between lawyers from different schools and finance people from different MBA's is astounding.
You think (no offense to USD/SDSU MBA holders) those folks would be able to get jobs on Wall Street pulling in 7 figures? If it were the case, it would be more the exception than the rule.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantBorat- Too late. Too many people…
Original poster. You really have to ask yourself. Why do you want to be a lawyer?… If it's a money thing. Think again. There are many careers that school/background doesn't make a huge difference (engineering might be one where say a UCLA or USCD won't make a huge difference). Talking to friends, it's completely different for lawyers. Top pay, school does matter. And a few lawyer friends from sh!tty law schools don't quite do quite as well as some of the geek types (could also be in their line of work). Also, I hope you like to read…a lot…
Patent law was something that I was interested in. But after thinking about things, I wouldn't like to be reading about what everyone else did. But that's just me.
That's why when I look at other careers, engineering isn't that bad. Yes, it's average pay, but you really don't have that sort of pecking order you do in other professions. The pay disparity between lawyers from different schools and finance people from different MBA's is astounding.
You think (no offense to USD/SDSU MBA holders) those folks would be able to get jobs on Wall Street pulling in 7 figures? If it were the case, it would be more the exception than the rule.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantBorat- Too late. Too many people…
Original poster. You really have to ask yourself. Why do you want to be a lawyer?… If it's a money thing. Think again. There are many careers that school/background doesn't make a huge difference (engineering might be one where say a UCLA or USCD won't make a huge difference). Talking to friends, it's completely different for lawyers. Top pay, school does matter. And a few lawyer friends from sh!tty law schools don't quite do quite as well as some of the geek types (could also be in their line of work). Also, I hope you like to read…a lot…
Patent law was something that I was interested in. But after thinking about things, I wouldn't like to be reading about what everyone else did. But that's just me.
That's why when I look at other careers, engineering isn't that bad. Yes, it's average pay, but you really don't have that sort of pecking order you do in other professions. The pay disparity between lawyers from different schools and finance people from different MBA's is astounding.
You think (no offense to USD/SDSU MBA holders) those folks would be able to get jobs on Wall Street pulling in 7 figures? If it were the case, it would be more the exception than the rule.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantBorat- Too late. Too many people…
Original poster. You really have to ask yourself. Why do you want to be a lawyer?… If it's a money thing. Think again. There are many careers that school/background doesn't make a huge difference (engineering might be one where say a UCLA or USCD won't make a huge difference). Talking to friends, it's completely different for lawyers. Top pay, school does matter. And a few lawyer friends from sh!tty law schools don't quite do quite as well as some of the geek types (could also be in their line of work). Also, I hope you like to read…a lot…
Patent law was something that I was interested in. But after thinking about things, I wouldn't like to be reading about what everyone else did. But that's just me.
That's why when I look at other careers, engineering isn't that bad. Yes, it's average pay, but you really don't have that sort of pecking order you do in other professions. The pay disparity between lawyers from different schools and finance people from different MBA's is astounding.
You think (no offense to USD/SDSU MBA holders) those folks would be able to get jobs on Wall Street pulling in 7 figures? If it were the case, it would be more the exception than the rule.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantBorat- Too late. Too many people…
Original poster. You really have to ask yourself. Why do you want to be a lawyer?… If it's a money thing. Think again. There are many careers that school/background doesn't make a huge difference (engineering might be one where say a UCLA or USCD won't make a huge difference). Talking to friends, it's completely different for lawyers. Top pay, school does matter. And a few lawyer friends from sh!tty law schools don't quite do quite as well as some of the geek types (could also be in their line of work). Also, I hope you like to read…a lot…
Patent law was something that I was interested in. But after thinking about things, I wouldn't like to be reading about what everyone else did. But that's just me.
That's why when I look at other careers, engineering isn't that bad. Yes, it's average pay, but you really don't have that sort of pecking order you do in other professions. The pay disparity between lawyers from different schools and finance people from different MBA's is astounding.
You think (no offense to USD/SDSU MBA holders) those folks would be able to get jobs on Wall Street pulling in 7 figures? If it were the case, it would be more the exception than the rule.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantThat'll teach you guys for buying at the peak. You'll be stuck with the high base no matter what. Lowering assessment is only temporary. That's a big lesson to take from the bubble.
patientlywaiting ,
Who gives a sh!t really about a few hundred dollars difference, when your mortgage is a balloon 🙂
But really, I'm not sure if I follow "you'll be stuck with a higher base". You can always request a reassessement, and yes counties do reassess downward..It's just a pain in the ass to do.
Plus I'd even venture to say, sitting it out for 5-6-7-8 years and renting might end up being a wash in my particular situation. Rent in CV isn't exactly cheap either. Plus where are the assumptions that everyone bought at peak peak? Assessments went up whether you bought at peak or not. Only in CA, they are capped, so obviously it's more advantegeous if you been an earlier, pre-peak buyer. Duh!
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantThat'll teach you guys for buying at the peak. You'll be stuck with the high base no matter what. Lowering assessment is only temporary. That's a big lesson to take from the bubble.
patientlywaiting ,
Who gives a sh!t really about a few hundred dollars difference, when your mortgage is a balloon 🙂
But really, I'm not sure if I follow "you'll be stuck with a higher base". You can always request a reassessement, and yes counties do reassess downward..It's just a pain in the ass to do.
Plus I'd even venture to say, sitting it out for 5-6-7-8 years and renting might end up being a wash in my particular situation. Rent in CV isn't exactly cheap either. Plus where are the assumptions that everyone bought at peak peak? Assessments went up whether you bought at peak or not. Only in CA, they are capped, so obviously it's more advantegeous if you been an earlier, pre-peak buyer. Duh!
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantThat'll teach you guys for buying at the peak. You'll be stuck with the high base no matter what. Lowering assessment is only temporary. That's a big lesson to take from the bubble.
patientlywaiting ,
Who gives a sh!t really about a few hundred dollars difference, when your mortgage is a balloon 🙂
But really, I'm not sure if I follow "you'll be stuck with a higher base". You can always request a reassessement, and yes counties do reassess downward..It's just a pain in the ass to do.
Plus I'd even venture to say, sitting it out for 5-6-7-8 years and renting might end up being a wash in my particular situation. Rent in CV isn't exactly cheap either. Plus where are the assumptions that everyone bought at peak peak? Assessments went up whether you bought at peak or not. Only in CA, they are capped, so obviously it's more advantegeous if you been an earlier, pre-peak buyer. Duh!
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantThat'll teach you guys for buying at the peak. You'll be stuck with the high base no matter what. Lowering assessment is only temporary. That's a big lesson to take from the bubble.
patientlywaiting ,
Who gives a sh!t really about a few hundred dollars difference, when your mortgage is a balloon 🙂
But really, I'm not sure if I follow "you'll be stuck with a higher base". You can always request a reassessement, and yes counties do reassess downward..It's just a pain in the ass to do.
Plus I'd even venture to say, sitting it out for 5-6-7-8 years and renting might end up being a wash in my particular situation. Rent in CV isn't exactly cheap either. Plus where are the assumptions that everyone bought at peak peak? Assessments went up whether you bought at peak or not. Only in CA, they are capped, so obviously it's more advantegeous if you been an earlier, pre-peak buyer. Duh!
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantThat'll teach you guys for buying at the peak. You'll be stuck with the high base no matter what. Lowering assessment is only temporary. That's a big lesson to take from the bubble.
patientlywaiting ,
Who gives a sh!t really about a few hundred dollars difference, when your mortgage is a balloon 🙂
But really, I'm not sure if I follow "you'll be stuck with a higher base". You can always request a reassessement, and yes counties do reassess downward..It's just a pain in the ass to do.
Plus I'd even venture to say, sitting it out for 5-6-7-8 years and renting might end up being a wash in my particular situation. Rent in CV isn't exactly cheap either. Plus where are the assumptions that everyone bought at peak peak? Assessments went up whether you bought at peak or not. Only in CA, they are capped, so obviously it's more advantegeous if you been an earlier, pre-peak buyer. Duh!
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantTo add to my comments.
From ocrenter's blog.
http://bubbletracking.blogspot.com/search/label/Carmel%20Valley
Del Mar Mesa REO's. It's just a matter of time….Perhaps if we start seeing $1.5/$1.4/$1.3/$1.2 mill for some of these homes ON A REAL BACKYARD, we might motivate to get off the sideline. We're still a long way away, but it seems like there is hope these days :).
Still think that $2mil Pardee Derby Hills plan 3 tract home is worth it???? I think not 🙂
To use an old adage spoken here so much :"we've definitely got time on our side"….Now if only both of our jobs will survive through a recession, and/or my company takes off…hmmm….
6508 Mesa Norte Dr., Carmel Valley, CA 92130
–4 beds, 4.0 baths, 4,258 sqft on 1.4 acres
–11/2005: purchased for $1.978 million
–11/2006: was entertaining offers from $2.490 to $2.690 million
–06/2007: aggressively dropped his wish price and sold for $1.975 millionThe next two decided to keep their asking price. Afterall, they didn't want to 'give it away.' Well, what you don't 'give away' will be 'taken away' these days…
6473 Mesa Norte Dr., Carmel Valley, CA 92130
–5 beds, 5.5 baths, 5,417 sqft on 3.7 acres
–11/2005: purchased for $2.275 million
–11/2006: was entertaining offers from $2.3 to 2.6 million
–06/2007: REO to bank for $1.9 million
–03/2008: sold for $1.775 million ($500,000 loss club member)6515 Caminito Stella, Carmel Valley, CA 92130
–4 beds, 5.0 baths, 4,879 sqft on 1.1 acres
–07/2005: purchased for $2.035 million
–11/2006: was asking for $2.225 million
–01/2008: REO to bank for $1.514 million
–02/2008: sold for $1.625 millionAnd lastly, we have the lone hold out. Back in November of '06, the home has been empty for 14 months as the flipper waited and waited for his payday. As he was unable to find a buyer, the home was pulled off the market, presumeably to wait out the market some more.
6532 Mesa Norte Dr., Carmel Valley, CA 92130
–4 beds, 4.5 baths, 4,879 sqft on 25,000 sqft lot
–09/2005: purchased for $1.982 million
–11/2006: was entertaining offers from $2.395 to $2.495 millionSo who is the biggest loser? The dump? The two foreclosures? Actually, try the hold out. The foreclosed floppers at least stopped bleeding. Meanwhile, the hold out continues to bleed thousands of dollars month after months on a property that is now only 80% of its initial purchased value.
Going back to the intial questions… to keep, to rent, or to dump… the answer seems pretty clear here, doesn't it?
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
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