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CoronitaParticipantOk. If you say so…
CoronitaParticipant[quote=spdrun]You ran all the way to Utah to live in a “planned community” with an HOA who’ll want to control how to live?[/quote]
Is that what a co-op is in NYC?
CoronitaParticipant[quote=EconProf]We just got back from our “walk-through” of the new house and will move in this Friday. Brio is one of many developments this company has done, and they are pros. 400 or so well-designed houses and condos, nearby clubhouse, pools, exercise room, tennis, pickleball, etc. two blocks away. Our 2700 SF single-level has views of snow-capped mountains. Glad we locked in the price last July at approximately $550,000, because the same model is now $57,000 higher.
Talking to the sales manager at Brio and various realtors in town reveals how hot this market is.
New listings are gobbled up in a week and bidding wars are the norm. All the contractors are super busy, and it takes a year to get a house built. One result is that developers of communities no longer quote a fixed price–they realize that waiting until the house is built costs them too much in lost appreciation. Plus they can get hurt by the rising labor and materials costs (lumber has doubled). So they have to build spec homes and then put them on the market, meaning buyers no longer get to chose their colors, options, cabinets, etc., as we did.
Growth in nearby Cedar City (50 minutes up I-15), and Hurricane (20 minutes away) is nearly as frantic as St. George).
So the population is booming, and it is all from an influx of buyers, mainly from California.
Gosh, I wonder why.[/quote]I dont know. The market looks pretty hot here in SD too.
CoronitaParticipantNot sure if i belief in being priced out forever, but I certainly wouldnt want to be a first time home buyer right now here, unless i was one of those Bay Area tech workers paid Bay Area comp packages with the option to work remotely from san diego. I guess some of them figured out spending $1.5+million here is still a better deal than spending $1.5million in a hole-in-the-wall place in Santa Clara. that or maybe banks relaxed lending standards and its easy to get stated alt-a loans again?
CoronitaParticipantI dropped by my old house to drop of some stuff and ran into my old neighbor and had a nice chat with him. One of thing i brought up was I wasnt sure whether i should continue renting out my house out or sell and cash in on the crazy insane home prices right now.
What he said stuck in my mind. His opinion, both China and the US were both beyond the point of no return, the only real option for both was to print their way out and devalue both currency. It was interesting that he said he was doing just about everything except staying in cash. He was curious why I was thinking about selling my house and I mentioned well this one in Carmel V, rent isnt great, tenants are a pain in the ass and dont stay that long, and right now with Carmel V homes costing more than $600+ per square ft, seems like appreciation is way better than rental income will be over many years…He sort of chuckled and said well, just about the worst thing anyone could have done is stayed in cash for so long. If someone did in san diego, counted solely on their wages, never took on higher risk in assets/investments, and stayed renting all these years…there is no doubt…they are most likely priced out of the San Diego housing market right now and probably indefinitely…if you sell your house, you might want to think about doing so to obly buy real estate that cash flows better elseehere in dan diego, otherwise yoi might ever be able to reenter the market again short or something else keeping up with the printing that will happen…
In hindsight. All those people thst boufht houses in say 2005-6. Was it rrally a bad decision if they were able to hold on? Maybe not…
CoronitaParticipantPretty soon, streets in MM will be gentrified and renamed to things like
Rue De Le Lizardo
CoronitaParticipantLizards moving upscale and are now “Les Lizardos” !!!
The up and coming Beverly Lizardo Hills 92126!!!
CoronitaParticipantIn the middle of a cash out refinance…though at these prices maybe its time to sell and trade into rental properties that cash flow better. While home prices in 92130 have gone bonkers, rent prices arent that insane and renting out a sfh in 92130 is a pain in the ass with pain in thr ass well to do people imho.
https://www.redfin.com/CA/San-Diego/4906-Bridle-Ridge-Ct-92130/home/22651331
$250k closing above asking….chump change for bay area folks i guess.
$669/sqft lol.
CoronitaParticipant[quote=gzz]My consumer staples are KHC KMB WBA T and VZ. They’ve done well, mainly because I got them in March and April 2020 when any pick would have done well.
I also have a lot of GO, which I purchased because I adore that store and was an instant convert. They have a changing variety of fancy euro-cheeses at Velveeta prices! I am not the only one, store count is growing about 10% a year and SSS are consistently excellent.[/quote]
I just get an etf XLP
CoronitaParticipantI think besides putting money into international index etfs like vxus, Im going to camp out in boring consumer staples.
I figure if we have more inflation, companies like P&G can get away with charging more for things like diapers and toilet paper…
Meanwhile, Im not so sure tech companies can do the same thing without consumers balking….
I applied for a $750k conforming plus cash out refinance. Will see how it goes….
Interesting times
CoronitaParticipantFunny, I had a conversation with my old neighbor about this. Tongue and cheek. He’s of the opinion that now that both China and US are printing more fiat money, he’s of the opinion to buy as many different kinds of investment as possible (equities, real estate ,etc). Because in his opinion, staying in cash for an extended period of time will be a losing proposition.
So he’s trying to rack and stack more investment properties, even at current prices…Shifting some of his holdings from China to the US.
I asked him if I was crazy wanting to cash out refi my old primary and take the equity to buy more houses. His exact words was. “Yes, because that’s what I’m doing to let the banks eat the depreciating dollar later…”
Feel sorry for the new home buyers that is just starting out…People spending the same amount some of us spent on a SFH years ago for a condo now… That’s pretty sad….
CoronitaParticipantI’m holding out to be a citizen on Mars…. Then there’s lots of sand…
CoronitaParticipant[quote=spdrun]Hot? You bet. St. George, UT gets positively *glowing* recommendations! Come for the alphas, stay for the gammas … and bring a survey meter along!
https://old.reddit.com/r/Utah/comments/lngd5s/downwinders_exposed_to_radioactive_fallout/
Oh, and average high in St. G in high scummer is 102F. Sounds like there’s a reason why it’s cheap. Denying COVID, throwing anyone who’s homeless in jail, and a religious monoculture? More selling points! But, hey, whatever floats your dinghy.
Given the choice of somewhere rural, I’d probably go to Maine. Just as beautiful, briskly cold in winter, and smart people who don’t try to cram their idea of G-d down your gullet.[/quote]
dude. Is there a reason why you need to be an asshole on this thread?
Congrats EconProf. Glad you found Zen in your life .
CoronitaParticipant[quote=svelte][quote=Coronita]I don’t disagree that in the past HP did use to sell high quality hardware products. At least before fiorina days.
[/quote]We never talk HP at home, but my wife out of the blue today said what a piece of crap her new HP printer is as she tried to print something.
I said funny you should mention HP quality, we were just discussing that online![/quote]
For laser….Get a Brother printer. They are so we’ll built, affordable, and supplies are so reasonably priced.
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