[ctr70]

I think that is some very smart advice to think what you would pay for rent for a house you would be happy living in, and compare to your PITI minus tax advantages(don’t forget water bill + $100-$150/mo maintenance expenses in you PITI!) on the house you are buying.

Right now there is no reason to make a big jump in payment from going from renting to buying (plus lost interest you would get on the down payment investing it somewhere else other than the house). Especially if you think prices will remain flat for many years at the mid to high end.

[ctr70]

I think that is some very smart advice to think what you would pay for rent for a house you would be happy living in, and compare to your PITI minus tax advantages(don’t forget water bill + $100-$150/mo maintenance expenses in you PITI!) on the house you are buying.

Right now there is no reason to make a big jump in payment from going from renting to buying (plus lost interest you would get on the down payment investing it somewhere else other than the house). Especially if you think prices will remain flat for many years at the mid to high end.

[ctr70]

I’m also making offers in central SD on the lower end (planning to eventually move out and turn into rental). I wonder if there is a “mini-bubble” from the tax credit (ends Friday). I’ve waited this long to buy, wondering if waiting another 3 days until the tax credit to expire would be smart:) People have a sense of urgency b/c of the tax credit and are willing to get in bidding wars driving a house up by $30k just to get a $8k credit! FHA buyers get crazy and they are tough to compete with. We have not seen a housing market with NO tax credit in like 2 years, so it may be interesting post tax credit. You couple the strong possibility of more inventory and it seems like the market has a high probability of softening in the 2nd half of 2010.

I’m looking at stuff that is more 2002 price points. I think the better parts of North County have not come down past 2003 yet.

When I study all the sold comps in the areas I’m looking in, you can REALLY see how the low end bottomed in 2009…in early 2009 people were getting stuff for 2000/2001 prices, especially when they paid cash.

[ctr70]

I’m also making offers in central SD on the lower end (planning to eventually move out and turn into rental). I wonder if there is a “mini-bubble” from the tax credit (ends Friday). I’ve waited this long to buy, wondering if waiting another 3 days until the tax credit to expire would be smart:) People have a sense of urgency b/c of the tax credit and are willing to get in bidding wars driving a house up by $30k just to get a $8k credit! FHA buyers get crazy and they are tough to compete with. We have not seen a housing market with NO tax credit in like 2 years, so it may be interesting post tax credit. You couple the strong possibility of more inventory and it seems like the market has a high probability of softening in the 2nd half of 2010.

I’m looking at stuff that is more 2002 price points. I think the better parts of North County have not come down past 2003 yet.

When I study all the sold comps in the areas I’m looking in, you can REALLY see how the low end bottomed in 2009…in early 2009 people were getting stuff for 2000/2001 prices, especially when they paid cash.

[ctr70]

I’m also making offers in central SD on the lower end (planning to eventually move out and turn into rental). I wonder if there is a “mini-bubble” from the tax credit (ends Friday). I’ve waited this long to buy, wondering if waiting another 3 days until the tax credit to expire would be smart:) People have a sense of urgency b/c of the tax credit and are willing to get in bidding wars driving a house up by $30k just to get a $8k credit! FHA buyers get crazy and they are tough to compete with. We have not seen a housing market with NO tax credit in like 2 years, so it may be interesting post tax credit. You couple the strong possibility of more inventory and it seems like the market has a high probability of softening in the 2nd half of 2010.

I’m looking at stuff that is more 2002 price points. I think the better parts of North County have not come down past 2003 yet.

When I study all the sold comps in the areas I’m looking in, you can REALLY see how the low end bottomed in 2009…in early 2009 people were getting stuff for 2000/2001 prices, especially when they paid cash.

[ctr70]

I’m also making offers in central SD on the lower end (planning to eventually move out and turn into rental). I wonder if there is a “mini-bubble” from the tax credit (ends Friday). I’ve waited this long to buy, wondering if waiting another 3 days until the tax credit to expire would be smart:) People have a sense of urgency b/c of the tax credit and are willing to get in bidding wars driving a house up by $30k just to get a $8k credit! FHA buyers get crazy and they are tough to compete with. We have not seen a housing market with NO tax credit in like 2 years, so it may be interesting post tax credit. You couple the strong possibility of more inventory and it seems like the market has a high probability of softening in the 2nd half of 2010.

I’m looking at stuff that is more 2002 price points. I think the better parts of North County have not come down past 2003 yet.

When I study all the sold comps in the areas I’m looking in, you can REALLY see how the low end bottomed in 2009…in early 2009 people were getting stuff for 2000/2001 prices, especially when they paid cash.

[ctr70]

I’m also making offers in central SD on the lower end (planning to eventually move out and turn into rental). I wonder if there is a “mini-bubble” from the tax credit (ends Friday). I’ve waited this long to buy, wondering if waiting another 3 days until the tax credit to expire would be smart:) People have a sense of urgency b/c of the tax credit and are willing to get in bidding wars driving a house up by $30k just to get a $8k credit! FHA buyers get crazy and they are tough to compete with. We have not seen a housing market with NO tax credit in like 2 years, so it may be interesting post tax credit. You couple the strong possibility of more inventory and it seems like the market has a high probability of softening in the 2nd half of 2010.

I’m looking at stuff that is more 2002 price points. I think the better parts of North County have not come down past 2003 yet.

When I study all the sold comps in the areas I’m looking in, you can REALLY see how the low end bottomed in 2009…in early 2009 people were getting stuff for 2000/2001 prices, especially when they paid cash.

[ctr70]

I think briansd1 makes a great point. SD has great weather and an interesting topography, I don’t think anything else is that great about it. Take away the perfect climate and it’s kind of a an average city. The architecture is kind either dumpy in the central and south or cookie cutter in the north. And despite the crash, it is still terribly expenseive. You still need $500k to get a entry level SFR in a decent nieghborhood.

You can get a near new built 2,500sf bank owned house in Orlando for $100k! Sometimes for even $80k! No typo, $80k-$100k. They were going for $300k at the peak. You get a 1 bed 400sf dumpy condo conversion in SD for $100k (with 20 cash offers on it bidding it up to $140k!).

There is much more plentiful and cheaper golf in ORL. I personally like the Florida beaches better as well because you can swim in the water! In SD the water is too cold to swim about 11.5 mos out of the year (and even that 1/2 month in late Aug is pretty fridgid). So in SD you just kind of “look” at the water when you go to the beach. I like the type of white sand better on the FL beaches as well. I also prefer the winter weather in Florida (Dec-March) over SD, esp South FL.

But I would absoltely HAVE to get out of FL in the summers, and have a summer house in Maine or Vermont! I couldn’t survive FL summers!

[ctr70]

I think briansd1 makes a great point. SD has great weather and an interesting topography, I don’t think anything else is that great about it. Take away the perfect climate and it’s kind of a an average city. The architecture is kind either dumpy in the central and south or cookie cutter in the north. And despite the crash, it is still terribly expenseive. You still need $500k to get a entry level SFR in a decent nieghborhood.

You can get a near new built 2,500sf bank owned house in Orlando for $100k! Sometimes for even $80k! No typo, $80k-$100k. They were going for $300k at the peak. You get a 1 bed 400sf dumpy condo conversion in SD for $100k (with 20 cash offers on it bidding it up to $140k!).

There is much more plentiful and cheaper golf in ORL. I personally like the Florida beaches better as well because you can swim in the water! In SD the water is too cold to swim about 11.5 mos out of the year (and even that 1/2 month in late Aug is pretty fridgid). So in SD you just kind of “look” at the water when you go to the beach. I like the type of white sand better on the FL beaches as well. I also prefer the winter weather in Florida (Dec-March) over SD, esp South FL.

But I would absoltely HAVE to get out of FL in the summers, and have a summer house in Maine or Vermont! I couldn’t survive FL summers!

[ctr70]

I think briansd1 makes a great point. SD has great weather and an interesting topography, I don’t think anything else is that great about it. Take away the perfect climate and it’s kind of a an average city. The architecture is kind either dumpy in the central and south or cookie cutter in the north. And despite the crash, it is still terribly expenseive. You still need $500k to get a entry level SFR in a decent nieghborhood.

You can get a near new built 2,500sf bank owned house in Orlando for $100k! Sometimes for even $80k! No typo, $80k-$100k. They were going for $300k at the peak. You get a 1 bed 400sf dumpy condo conversion in SD for $100k (with 20 cash offers on it bidding it up to $140k!).

There is much more plentiful and cheaper golf in ORL. I personally like the Florida beaches better as well because you can swim in the water! In SD the water is too cold to swim about 11.5 mos out of the year (and even that 1/2 month in late Aug is pretty fridgid). So in SD you just kind of “look” at the water when you go to the beach. I like the type of white sand better on the FL beaches as well. I also prefer the winter weather in Florida (Dec-March) over SD, esp South FL.

But I would absoltely HAVE to get out of FL in the summers, and have a summer house in Maine or Vermont! I couldn’t survive FL summers!

[ctr70]

I think briansd1 makes a great point. SD has great weather and an interesting topography, I don’t think anything else is that great about it. Take away the perfect climate and it’s kind of a an average city. The architecture is kind either dumpy in the central and south or cookie cutter in the north. And despite the crash, it is still terribly expenseive. You still need $500k to get a entry level SFR in a decent nieghborhood.

You can get a near new built 2,500sf bank owned house in Orlando for $100k! Sometimes for even $80k! No typo, $80k-$100k. They were going for $300k at the peak. You get a 1 bed 400sf dumpy condo conversion in SD for $100k (with 20 cash offers on it bidding it up to $140k!).

There is much more plentiful and cheaper golf in ORL. I personally like the Florida beaches better as well because you can swim in the water! In SD the water is too cold to swim about 11.5 mos out of the year (and even that 1/2 month in late Aug is pretty fridgid). So in SD you just kind of “look” at the water when you go to the beach. I like the type of white sand better on the FL beaches as well. I also prefer the winter weather in Florida (Dec-March) over SD, esp South FL.

But I would absoltely HAVE to get out of FL in the summers, and have a summer house in Maine or Vermont! I couldn’t survive FL summers!

[ctr70]

I think briansd1 makes a great point. SD has great weather and an interesting topography, I don’t think anything else is that great about it. Take away the perfect climate and it’s kind of a an average city. The architecture is kind either dumpy in the central and south or cookie cutter in the north. And despite the crash, it is still terribly expenseive. You still need $500k to get a entry level SFR in a decent nieghborhood.

You can get a near new built 2,500sf bank owned house in Orlando for $100k! Sometimes for even $80k! No typo, $80k-$100k. They were going for $300k at the peak. You get a 1 bed 400sf dumpy condo conversion in SD for $100k (with 20 cash offers on it bidding it up to $140k!).

There is much more plentiful and cheaper golf in ORL. I personally like the Florida beaches better as well because you can swim in the water! In SD the water is too cold to swim about 11.5 mos out of the year (and even that 1/2 month in late Aug is pretty fridgid). So in SD you just kind of “look” at the water when you go to the beach. I like the type of white sand better on the FL beaches as well. I also prefer the winter weather in Florida (Dec-March) over SD, esp South FL.

But I would absoltely HAVE to get out of FL in the summers, and have a summer house in Maine or Vermont! I couldn’t survive FL summers!

[ctr70]

People with prime and alt-a 5/1’s and 3/1’s with fairly low margin’s have been resetting to LOWER rates than their original rates the last 2+ years.

The option ARM servicers are also being very aggressive with modifications and doing principle reductions. Wachovia (from their World Savings loans) is the most aggressive from what I’ve heard reducing principle on the options ARM’s.

[ctr70]

People with prime and alt-a 5/1’s and 3/1’s with fairly low margin’s have been resetting to LOWER rates than their original rates the last 2+ years.

The option ARM servicers are also being very aggressive with modifications and doing principle reductions. Wachovia (from their World Savings loans) is the most aggressive from what I’ve heard reducing principle on the options ARM’s.

[ctr70]

People with prime and alt-a 5/1’s and 3/1’s with fairly low margin’s have been resetting to LOWER rates than their original rates the last 2+ years.

The option ARM servicers are also being very aggressive with modifications and doing principle reductions. Wachovia (from their World Savings loans) is the most aggressive from what I’ve heard reducing principle on the options ARM’s.

[Author]

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