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CoronitaParticipant[quote=an][quote=sdrealtor]Inflation reported this morning is highest in 13 years. Who would’ve guessed? Get ready for more. Holders of hard assets gonna be the winners[/quote]
Lets go!!![/quote]Go Joe Go!
CoronitaParticipant[quote=scaredyclassic][quote=Coronita][quote=gzz]Escoguy, I agree with what you said, especially about how conservative underwriting has been the ENTIRE TIME the market has been rising starting around 2010.[/quote]
Thats what i was wondering. Hows the loan quality now versus circa 2006[/quote]
Must be better. How could it be worse?
Odd thing pricing a refi yesterday. It was significantly cheaper to do a large cash out refi than just the balance of the mortgage.
Not sure what this means. We will give you a lower rate for more money, please, just take this damn icky money? Is cash really trash? It made me not want the money. Why would I want something they have to give me more of to cart away?
I’d be curious if Americans are taking lots of $ out for consumption.[/quote]
Well,I do see a lot of people driving newer cool cars!!!
CoronitaParticipant[quote=gzz]Escoguy, I agree with what you said, especially about how conservative underwriting has been the ENTIRE TIME the market has been rising starting around 2010.[/quote]
Thats what i was wondering. Hows the loan quality now versus circa 2006
CoronitaParticipant[quote=sdrealtor]That’s the one! And they don’t over oak the wine. I’ve had it at 10 years and it’s a whole norther level. Maybe compared to an 87 Dunn hm but that wine is the best thing coming out of Napa plus they are making constellation look foolish to boot. Wait list is around 20 years to get on that list now[/quote]
Can I land my helicopter at the winery there?
CoronitaParticipant[quote=scaredyclassic][quote=Coronita][quote=scaredyclassic]The people making a fortune in crypto are really smart or really dumb…no one in the middle…[/quote]
MEME STOCKS!!!!
AMC and GME ….TO THE MOON!!!!!
MOVIE THEATERS ARE OPENING!!!![/quote]
Sorry flu. Ya can’t fake it. Either you’re a genius/moron, or you’re not. And you’re just…not.[/quote]
Damn scardey. That hurts…I think….You could be a little more constructive…
I mean, since genius is unobtainable for me…..What does it take to be the next best thing and be a moron?
CoronitaParticipant[quote=scaredyclassic]The people making a fortune in crypto are really smart or really dumb…no one in the middle…[/quote]
MEME STOCKS!!!!
AMC and GME ….TO THE MOON!!!!!
MOVIE THEATERS ARE OPENING!!!!
CoronitaParticipantI am sure i am wrong some of the time.
Murphy law of investing:
The correct decision often times seem to be the decision I did not take after trying to rationalize the decision I did take as the most intuitive decision….
My Solution:
Therefore, if i continue to do the exact same thing in rationalizing every investment decision I make, but for 50% of the time, do exactly the opposite of what I would have done, then on average, I probably will be correct 25-50% of the time instead of being consistently 100% wrong.
Corrollary to this: as smart as engineers like to think we are, there are a lot less nerdie people in this world that have made a lot more money making irrationale decisions versus our tendency of analysis to paralysis and doing nothing in the end…
Some of you guys need to do something crazy..like buy dogecoins…makes no sense whatsoever…but thats exactly the point….
CoronitaParticipanthttps://www.cnn.com/2021/05/09/investing/stocks-week-ahead/index.html
“Prices rising eveeywhere”
Oh please eat away at that 3% 30 year loan….
CoronitaParticipant[quote=an][quote=Coronita]Could be worse I guess.. $876/sqft for a condo in sunnyvale lol
https://www.zillow.com/homedetails/483-Torrey-Pine-Ter-Sunnyvale-CA-94086/2071154061_zpid/
Or $900/sqft for a SFH
https://www.zillow.com/homedetails/850-Iris-Ave-Sunnyvale-CA-94086/19546732_zpid/%5B/quote%5D
Look at those school scores. Better school area of Sunnyvale is over $1300/sqft https://www.zillow.com/homedetails/764-Cascade-Dr-Sunnyvale-CA-94087/19623645_zpid/?utm_campaign=androidappmessage&utm_medium=referral&utm_source=txtshare%5B/quote%5DYes, side closer to mountain view, 94087 is considerably more than 94086.But in general sunnyvale picked up once the apple built a campus there and they modernize a good part of sunnyvale, clearing cherry orchards and industrial scrapyards along the train track for housing..
Mira Mesa in a lot of ways will become similiar imho… Which is why im hell bent on racking and stacking in mira mesa. Its just too bad Im probably too late. New construction in 3roots might be the way to go…i regret laughing at the pardee new construction homes in Mira Mesa a new years ago. Totally underestimated the future demand. One of my other realtor friends tried to convince me to buys new construction there, but then it was a bit of a financial stretch for me back then. I was too busy trying to be free and clear sooner in case my health failed and/or i became quickly obsolete in tech. maybe i played it too safe because i am going back from free and clear to having a mortgage and its been 5-6 years and I havent become obsolete yet…(though this time, i think i am, lol)…
CoronitaParticipanthttps://www.sacbee.com/news/politics-government/capitol-alert/article251233624.html
The interactive map shows in 2020 San Diego County lost 0.48% people, whereas riverside saw an increase of 0.56%
Hardly a mass exodus.
CoronitaParticipant[quote=Reality]This place barely went for more than it did in 2005.
https://www.sdlookup.com/MLS-200054657-4260_Eastridge_Dr_La_Mesa_CA_91941%5B/quote%5D
La Mesa is interesting.. I had a property there that I did a 1031 exchange on 2 years ago. Yes, 2 years ago, prices were not that much more than 2005/6.
Then again, home prices also tanked there much more severely during the great recession, than say North County. I would say that given that area, there was a lot more sketchy borrowing by unqualified people versus say North County Coastal…So when the music stopped, things crashed pretty hard there.. It’s just a guess, based on my personal experience.
The short sales I picked up with about 57% off what the previous buyer paid in 2006.
I sold it 2 years ago about 2% above what the previous buy paid, or about 151% gain from my purchase price.
FWIW: today, similar units on in the same complex in less desirable locations have sold for 202% of what I paid for my unit. Compared to peak 2006 price, that would be about 21% above peak.
In just 2 years….Should have held onto a little longer…Oops. I guess one can’t win them all.
Fortunately, I did a 1031 exchange to a property in mira mesa… Had the location been more convenient and the tenant quality pool down there been better, I would have kept it and wouldn’t be trying to find another rental in this crazy market.
I don’t think even Mira Mesa crashed that hard during the great recession.
CoronitaParticipantCould be worse I guess.. $876/sqft for a condo in sunnyvale lol
https://www.zillow.com/homedetails/483-Torrey-Pine-Ter-Sunnyvale-CA-94086/2071154061_zpid/
Or $900/sqft for a SFH
https://www.zillow.com/homedetails/850-Iris-Ave-Sunnyvale-CA-94086/19546732_zpid/
CoronitaParticipantBack in 2004, it was already quite a stretch to pay mid 800s for a 5/3, and I was already balking about it (well it was still way cheaper than bay area)…Never thought that today, that today that would afford a 3/3 townhome.
CoronitaParticipant[quote=deadzone][quote=sdrealtor] We are a magnet to people from all over the world now[/quote]
Classic Realtor talk. As if San Diego wasn’t popular before Covid. This is the same type of realtor talk we heard back in the 2000s to justify the crazy prices in San Diego.
The Covid/Remote work related distortion is just a temporary blip. The main factors for price appreciation are crazy amount of Fed induced money, which has been going on since 2009. The Fed Balance sheet chart is all you need to look at. And for Covid, the rent and mortgage moratoriums are a major factor. As I understand, if you are a landloard and wanted to sell your house at today’s crazy prices, you couldn’t do it.
Fact is, RE prices are at all time highs and inventory at all time lows ALL around the country, certainly not just San Diego or CA. Look at St George Ut from the other thread, its everywhere (except Cleveland). Suggesting this is primarily due to rich folks moving down from Bay Area is non-sensical. If that were the case, then Bay Area prices would be going down with all these folks leaving to come to San Diego.[/quote]
The irony is that even if you bought a house in 2004, and were able to hold on, it would be pretty good now. I remember when we sold a 3/3 crest delmar townhome and thought it was crazy people were paying $620k for the townhome..My coworker sold the same townhome floorplan in the same complex a 2-3 months ago for $840k. I was shocked.
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