[Coronita]

[quote=bearishgurl]Folks, I want to know exactly how much $$ your kid(s) right to attend particular public schools is worth to you (per kid). Let’s assume one in first grade, one in K and and any other kids are not in school yet so let’s assume 2 kids, for discussion purposes.

Let’s break it down here:

What is a “good school” . . . say 9 to 10 on Great Schools) “worth” to a parent today (over and above a similar-sized home situated in an area costing much less with a 7 – 8 school score on Great Schools)?

Another option is: where should a parent of two school-age children today put their homebuying funds based upon what they can afford? Examples:

Elem school 10
Middle school 9
High school 8

House cost will be $850K, rent will be $3500 mo;

Elem school 9
Middle school 8
High school 8

Same house will cost $650K; rent will be $3000 mo, OR:

Elem school 8
Middle school 7
High school 8

Same house will cost $550K; rent will be $2500 mo.

******

Food for thought: What would the right to attend a particular HS with a “9” score be worth to a parent who has, say, only a 13 and 14 yo the time of home purchase?

Use money, please, i.e. “I would spend $150K more ($75K per kid for two kids) for a home located in an “8” high school attendance area than I would pay for a similar home situated in “7” HS attendance area” (all other factors being equal). Thanks.[/quote]

None of your business. Even if someone did truthfully answer, you wouldn’t like it anyway because anything anyone else wants/does for their kids that you didn’t do yourself for your own kids, you would immediately criticize that being a waste/unnecessary, because in your mind your way of parenting and viewpoint any anyone else that shares your viewpoint is the only right way. So why bother even “discussing” it. It’s not a discussion. It’s going to be another argument, for which you are setting up, which eventually a lot of people will probably disagree with you on, and then you’ll try to bend over backwards to argue, just for the sake of arguing or maybe in some twisted way try to convince yourself you made all the best decisions and that everyone else that doesn’t agree with you is wrong, and how smart you are… It’s you’re MO.

Usually, “normal” people ask other people what they do and what they are doing for things like finance, education, kids care, etc because they want to compare notes to see what/if anything they are missing they should be doing. And usually people that do that, shut up and listen, and digest, and think, and evaluate, and then make informed decisions appropriately. I think in your case, you ask just because you want to argue and try to convince yourself you are always right. There’s no point in this “discussion”, because it’s not a discussion. It’s a pissing match, one which chances are you’re going to be really bad at.

[Coronita]

http://www.sdlookup.com/MLS-150017513-15576_Cobble_Creek_San_Diego_CA_92131

15,000 sqft lot… That’s just not acceptable. Too damn close to the next door neighbors. What’s up with all these tract homes?

[Coronita]

[quote=FlyerInHi]
If there’s a crash, wouldn’t it happen in China first? Or maybe in the UK? Or New Zealand or Canada?

We should have some warning before the crash hits our shores?[/quote]

Maybe that’s why you have a lot some foreign buyers buying here (for both economic and political reasons)?

[Coronita]

This is awesome. I’m glad the pigg resident real estate experts are now finally talking about homes in San Gabriel Valley, with equal conviction as homes in North County without (1) living there (2) doing business there and (3) having purchased/rented there. I’ll now watch and learn what experts on SGV say now. and learn from it……by thinking completely the opposite. That appears to be more an accurate pulse of what really happens, based on previous track records of expert advice from LETDLITA’s!!!… Carry on !

[Coronita]

[quote=harvey][quote=flu]what about all that looting? Where’s the prosecution for all those that burned down businesses and looted?[/quote]

No one is denying that the looting is a crime.

The Baltimore police are claiming that killing a man for sport is a not a crime – when they do it.[/quote]

And it’s great they are going to jail

[Coronita]

[quote=spdrun]Not evaluating a primary home as compared to market conditions (i.e. rents for a similar home) is making a bad investment. Why not buy a few better investments, then rent the same home with the income?

And if you’re doing to buy, why not buy closer to the beach for the same price, which is a more attractive area?[/quote]

Bluntly put. Because there come a point in life that you realize you can’t take everything with you when you are dead and provided you arent financially ruining yourself and your heirs or screwing someone else intentionally over in the process, you can afford to indulge in things once in awhile. The only difference is what level of indulgence can one afford.

[Coronita]

Have not tried, but….

If it doesn’t workout, I guess you can always return it with prime….

[Coronita]

[quote=spdrun]No one is saying that it’s a terrible decision (so long as costs can be supported), but that there are much better option from an investment standpoint.[/quote]

#1. Many people don’t evaluate their primary home the same way that one evaluates a cash flow+ rental. I don’t see why people don’t get this

#2. I don’t understand why BG is so fixated on 8 digit net worth people and tract homes. She keeps wondering why an 8digit net worth people would be even looking at a tract home, and trying to argue as if I stated everyone in Carmel V has an 8 digit net worth and everyone looking for a tract home up here has an 8 digit net worth, despite I repeatedly saying that wasn’t the case. I have no idea, except for maybe a few friends that I suspect are 8 digit net worth.

Do you people like to argue for just arguing sake?

I’m guessing some people with 8 digit net worth would be looking tract home, because it appears that way. And there’s probably some that don’t. Don’t ask me why because I’m not in that category. BG, if you really are curious, why don’t you ask someone in that category. Maybe the OP? . I’m simply putting what folks says on different threads… and was curious why?

Let me put a poll for people ok? There.

http://piggington.com/if_you_have_8_digit_net_worth_have_you_considered_buying_tract

Can we now delete the previous 30+ posts on this thread?

[Coronita]

You win BG. I give up. You are always correct. Since $1million seems unobtainable, they must be unobtainable for everyone.
And every one of the ones that spend $1million+ in Carmel V have made terrible financial decisions throughout their life, and a reason why everyone in Carmel V must depend on welfare and foodstamps….Time for me to go to the local Jimbos and use my EBT check that I just got.

[Coronita]

[quote=spdrun]

I think until we see less stringent loan requirements I dont think the lower end will move as fast up and as far up.

Speaking to San Diego, I think the lower end HAS already moved up much further than the higher end. No need to give loans to idiots who can’t handle them.[/quote]

The lower end also fell much lower than the higher end.

[Coronita]

[quote=The-Shoveler]IMO I think there will be a big push to get the more lower end moving as well but seeing the same type of thing happening up where I am (the more ghetto north county “just kidding”). There is an Eclectic mix of older smaller custom homes (even some mobile homes) and really big (talking 10-12 thousand sqf custom mansions with landscaping to match).

Seems these days they are starting a new custom mansion about once a week (these are on lots with several acre minimums). (You know they somehow screwed up and let you into the wrong area when you start seeing homes with their own helipad).

But IMO I see a push coming to the lower end (good or bad I am not sure).[/quote]

I’m not so sure. I think until we see less stringent loan requirements I dont think the lower end will move as fast up and as far up. I’d be curious to see on the high end his many homes had mortgages that people really needed to get.

[Coronita]

While foreign purchases do make up some part of the high end purchases, I don’t think it’s the majority. The bulk of the purchases still appear to be domestic.

Maybe it’s just the economy is doing better for some. With the exception of enginerd salaried employees, maybe small biz, doctors, lawyers, and other professions have been seeing better times. Maybe people’s investments have been going through the roof, and maybe those same people psychologically feel more comfortable buying now. Maybe folks are trading up because their current property has gone up, rates are low, and for them, there source(s) of income are more or less stable…

I think during the past few years, there’s been so much pessimism about the economy, but there appears to be folks that emerged from all this stronger. These tiny condos I bought are all cute and such. But hardly something that really is exploding the bank. My problem was I played it way too safe. And I’m sure there are plenty of people that did well just by being less fearful.

[Coronita]

FWIW: let’s look at some other places that are high cost areas…

https://www.redfin.com/city/5844/CA/Encinitas-San-Diego-County-CA

Median List Price $1.37M
Median List $/Sq Ft $472
Median Sale Price $827K
Median Sale $/Sq Ft $437
Median Sale / List 97.6%
Avg. Number of Offers 3.1
Avg. Down Payment 34.7%
Number of Homes Sold 208

Some similiar to CarmelV… Average downpayment 34.7% for example

[Coronita]

FWIW: I really haven’t been checking out Carmel Valley stats recently, simply because prices 2 years ago reached a point above which I personally could feel comfortable affording, so I stopped looking and keeping in touch (the same philosophy why i don’t go to auto-shows. Why bother looking at things that you cannot obtain)….

Anyway, this thread made me interested on looking at what’s going on again in this area…. I found this stat interesting posted by Redfin.

Past 90 days
Median List Price: $1.25M
Median List $/Sqft: $428
Median Sale Price: $950k
Median Sale $/Sqft: $406k
Median Sale/List: 98%
Average # of Offers: 2.4
Average Down Payment: 32.1%
Number of Homes Sold: 187

I don’t think people are struggling or necessarily stretching that much.

[Coronita]

[quote=spdrun]Agreed, it’s a matter of opinion. But I maintain that for that price (or anything over $1 million), I better be able to walk and take a swim and be on the “proper” side of I-5 :)[/quote]

That’s wishful thinking.

[Author]

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