[Coronita]

I really hope folks here betting the farm against 1 stock really have the stomach to digest things IF CFC really does get bailed out. I mean, a lot of you folks have been talking about how you are spending the effort to "save" for when home prices become affordable.

I no longer have any interest in CFC itself (I bought and sold on a $2 spread), as i think there really is too much uncertainty on this one, but I'd really would hate to see it if folks here take on a huge position one way or the other thinking of making "easy money", only to see their savings pissed away if things don't work to the direction you want.

 

Please don't make the same mistakes that I have back in the dot com days when "saving" meant "gambling" on stock pick or short. Example.

I originally wanted to buy a car that cost $30k. Instead of buying the car, I decided, why not hold of 1 month and put the $30k into the market, so I could by the "S" version of the car? Result: Stocks went up and then came down. Was not a happy camper.

[Coronita]

Submitted by gn on August 22, 2007 – 12:53pm.

Navydoc, very well said.

And this is the point that a guy named Cyphire (who has a lot of money, but decided to rent in La Jolla instead of buying) was making too.

For most people, whose assets is less than $5M. Losing a few hundred thousands dollars is going to hurt them.

 

It would be an interesting study to figure out out of those people who saved, want percentage ended up losing money anyway on other things, such as bad investments (shorts or longs at the wrong time), spending on frivolous things, etc.

 

[Coronita]

Submitted by gn on August 22, 2007 – 12:53pm.

Navydoc, very well said.

And this is the point that a guy named Cyphire (who has a lot of money, but decided to rent in La Jolla instead of buying) was making too.

For most people, whose assets is less than $5M. Losing a few hundred thousands dollars is going to hurt them.

 

It would be an interesting study to figure out out of those people who saved, want percentage ended up losing money anyway on other things, such as bad investments (shorts or longs at the wrong time), spending on frivolous things, etc.

 

[Coronita]

Submitted by gn on August 22, 2007 – 12:53pm.

Navydoc, very well said.

And this is the point that a guy named Cyphire (who has a lot of money, but decided to rent in La Jolla instead of buying) was making too.

For most people, whose assets is less than $5M. Losing a few hundred thousands dollars is going to hurt them.

 

It would be an interesting study to figure out out of those people who saved, want percentage ended up losing money anyway on other things, such as bad investments (shorts or longs at the wrong time), spending on frivolous things, etc.

 

[Coronita]

Perterk2001,

 

Here's my take. And perhaps I'm going to piss people off by saying this. I personally like the DerbyHills home. And at some point or another I was on the wait list. My favorite is the large plan (4 i think), with the optional attic loft. It's a nice area, away from the power lines views of other homes on the side of Torrey Hills.

That said, if we could "afford" it, I would definitely would have remained on the list and at least wait until I was called to see if I could select a unit on a nice cul-de-sac. Unfortunately, my wife and I have very strict definition of "afford", which includes having not to sell our existing SFH in CV purchased in 2004, having XXXX in reserves, having XX dollars in a children's fund, having a budget to replace an 8 year-old car in 2 years. It simply wasn't an option for us. We stayed on the waitlist for awhile, in case our financial situation would drastically change, but it became a pain for us to keep track of the available lots, since we also have particular fong-shui requirements and we couldn't agree on everything So we gave up.

However, If I remember correctly, being on the list, you had the option to defer to the next phase if you were called.

That said, keep in mind also that the sales office is probably telling you things are sold out…BUT, I believe there are several more phases that they haven't started (or delayed) to control interest. If you really like this development, at least you should wait for the location you want.

Can't comment on if prices will go down. Probably so. But not everyone will care. It depends on your own situation.

My only advice to you is that you need to make sure

(1) your not in over your head if you do this

(2) you don't mind taking a hit on your current place.

However, despite what other may be saying here. I don't think a majority of these people moving in are really "stretched with arms and etc." Some, perhaps. Most…I doubt it.. I personally know some people who had existing homes were waiting for this specific new development to trade up, some were ex-qualcomm coworkers moving from other developments and putting down a lot more than 20%. The only time I recall a discount in this development was back in feb/march. There was a weeding out of the people that had contingencies that fell through. I recall several plan 2-3 were being sold with big rebates and incentives (close to 200k off). But it lasted for about 3-4 weeks.

If you do purchase, just make sure you aren't one of these that are stretched thin, otherwise I might pick your place up if you go into foreclosure

🙂

 

 

 

[Coronita]

Perterk2001,

 

Here's my take. And perhaps I'm going to piss people off by saying this. I personally like the DerbyHills home. And at some point or another I was on the wait list. My favorite is the large plan (4 i think), with the optional attic loft. It's a nice area, away from the power lines views of other homes on the side of Torrey Hills.

That said, if we could "afford" it, I would definitely would have remained on the list and at least wait until I was called to see if I could select a unit on a nice cul-de-sac. Unfortunately, my wife and I have very strict definition of "afford", which includes having not to sell our existing SFH in CV purchased in 2004, having XXXX in reserves, having XX dollars in a children's fund, having a budget to replace an 8 year-old car in 2 years. It simply wasn't an option for us. We stayed on the waitlist for awhile, in case our financial situation would drastically change, but it became a pain for us to keep track of the available lots, since we also have particular fong-shui requirements and we couldn't agree on everything So we gave up.

However, If I remember correctly, being on the list, you had the option to defer to the next phase if you were called.

That said, keep in mind also that the sales office is probably telling you things are sold out…BUT, I believe there are several more phases that they haven't started (or delayed) to control interest. If you really like this development, at least you should wait for the location you want.

Can't comment on if prices will go down. Probably so. But not everyone will care. It depends on your own situation.

My only advice to you is that you need to make sure

(1) your not in over your head if you do this

(2) you don't mind taking a hit on your current place.

However, despite what other may be saying here. I don't think a majority of these people moving in are really "stretched with arms and etc." Some, perhaps. Most…I doubt it.. I personally know some people who had existing homes were waiting for this specific new development to trade up, some were ex-qualcomm coworkers moving from other developments and putting down a lot more than 20%. The only time I recall a discount in this development was back in feb/march. There was a weeding out of the people that had contingencies that fell through. I recall several plan 2-3 were being sold with big rebates and incentives (close to 200k off). But it lasted for about 3-4 weeks.

If you do purchase, just make sure you aren't one of these that are stretched thin, otherwise I might pick your place up if you go into foreclosure

🙂

 

 

 

[Coronita]

Perterk2001,

 

Here's my take. And perhaps I'm going to piss people off by saying this. I personally like the DerbyHills home. And at some point or another I was on the wait list. My favorite is the large plan (4 i think), with the optional attic loft. It's a nice area, away from the power lines views of other homes on the side of Torrey Hills.

That said, if we could "afford" it, I would definitely would have remained on the list and at least wait until I was called to see if I could select a unit on a nice cul-de-sac. Unfortunately, my wife and I have very strict definition of "afford", which includes having not to sell our existing SFH in CV purchased in 2004, having XXXX in reserves, having XX dollars in a children's fund, having a budget to replace an 8 year-old car in 2 years. It simply wasn't an option for us. We stayed on the waitlist for awhile, in case our financial situation would drastically change, but it became a pain for us to keep track of the available lots, since we also have particular fong-shui requirements and we couldn't agree on everything So we gave up.

However, If I remember correctly, being on the list, you had the option to defer to the next phase if you were called.

That said, keep in mind also that the sales office is probably telling you things are sold out…BUT, I believe there are several more phases that they haven't started (or delayed) to control interest. If you really like this development, at least you should wait for the location you want.

Can't comment on if prices will go down. Probably so. But not everyone will care. It depends on your own situation.

My only advice to you is that you need to make sure

(1) your not in over your head if you do this

(2) you don't mind taking a hit on your current place.

However, despite what other may be saying here. I don't think a majority of these people moving in are really "stretched with arms and etc." Some, perhaps. Most…I doubt it.. I personally know some people who had existing homes were waiting for this specific new development to trade up, some were ex-qualcomm coworkers moving from other developments and putting down a lot more than 20%. The only time I recall a discount in this development was back in feb/march. There was a weeding out of the people that had contingencies that fell through. I recall several plan 2-3 were being sold with big rebates and incentives (close to 200k off). But it lasted for about 3-4 weeks.

If you do purchase, just make sure you aren't one of these that are stretched thin, otherwise I might pick your place up if you go into foreclosure

🙂

 

 

 

[Coronita]

Woot!

Nikkei is up 3.7% at midday.

http://finance.yahoo.com/q?s=%5En225

Hopefully, it sustains and the positive momentum spills over into the next trading session here.

[Coronita]

Woot!

Nikkei is up 3.7% at midday.

http://finance.yahoo.com/q?s=%5En225

Hopefully, it sustains and the positive momentum spills over into the next trading session here.

[Coronita]

Woot!

Nikkei is up 3.7% at midday.

http://finance.yahoo.com/q?s=%5En225

Hopefully, it sustains and the positive momentum spills over into the next trading session here.

[Coronita]

SDR and Rustico,

Thanks for the info. I’m planning on getting a license, mainly for the future. My days as an engineer are numbered imho (about 10 more good years). Plus, i figure a RE license might come in handy in the the month/years ahead. If I was more motivated, I’d want to get a firm understanding of real estate law too. But I hate to read a lot 🙂

As far as my username. I guess I’m starting to get old, and slightly less cocky. I’m considering toning it down a bit, as it might be sort of offensive. Maybe I’ll just change it to FLU for short…

[Coronita]

SDR and Rustico,

Thanks for the info. I’m planning on getting a license, mainly for the future. My days as an engineer are numbered imho (about 10 more good years). Plus, i figure a RE license might come in handy in the the month/years ahead. If I was more motivated, I’d want to get a firm understanding of real estate law too. But I hate to read a lot 🙂

As far as my username. I guess I’m starting to get old, and slightly less cocky. I’m considering toning it down a bit, as it might be sort of offensive. Maybe I’ll just change it to FLU for short…

[Coronita]

SDR and Rustico,

Thanks for the info. I’m planning on getting a license, mainly for the future. My days as an engineer are numbered imho (about 10 more good years). Plus, i figure a RE license might come in handy in the the month/years ahead. If I was more motivated, I’d want to get a firm understanding of real estate law too. But I hate to read a lot 🙂

As far as my username. I guess I’m starting to get old, and slightly less cocky. I’m considering toning it down a bit, as it might be sort of offensive. Maybe I’ll just change it to FLU for short…

[Coronita]

fat_lazy, you're correct jumbo loans aren't going to "vanish"..I don't think anyone is saying that, but demand is going to contract by probably 95+% to a trickle. This will virtually halt activity in the region, infact that is what is happening before our eyes right now.

 

I guess my vision is warped. Out of all the people I know, I can only think of 1 couple that might not qualify for a jumbo. But then again, most of the people I know have already bought and aren't really looking to buy again. 

[Coronita]

fat_lazy, you're correct jumbo loans aren't going to "vanish"..I don't think anyone is saying that, but demand is going to contract by probably 95+% to a trickle. This will virtually halt activity in the region, infact that is what is happening before our eyes right now.

 

I guess my vision is warped. Out of all the people I know, I can only think of 1 couple that might not qualify for a jumbo. But then again, most of the people I know have already bought and aren't really looking to buy again. 

[Author]

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