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daney143
ParticipantIs everyone on this blog into investments or is everyone looking to simply own an affordable home and live in it? If everyone is looking at the market as a short term investment opportunity, then it all make sense. Everyone wants it to go down so they can buy at the bottom so when it goes back up, they can cash out. Kind of like what I did with Cisco and XM Radio stocks back in the late 90’s and what everyone tried to do in 2004 with the housing market.
How many real buyers are out there and when will we hit the saturation level of remaining buyers? Also if prices go back to 2002 values, exluding inflation, we’re talking about a 2bed-2bath condo in Mission Valley for about 150k? Is that cheap or am i smoking? I’d pick up 10 at that price. So what is the saturation value of the market’s bottom where people are going to get back in? How many people are just waiting and waiting for the right time? Who is going to be the first back in the market and why and what will be the sign?
ParticipantCow Tipping, I see your points. So what we need to find out is how much Fake Estate is out there and when all the Fake Estate is re purchased as Real Estate, the bubble will be gone? that is unless, the Real Estate becomes Elastic Estate because everyone that bought a Fake Estate, but it with Elastic Estate Money and at some point the Elastic Money and cost of it will expland (adj rate mortgages), and the house will not have any equity to re-fi?
Hm that simple… So how do you get rich of a falling market? If you are buying it as an investment vs a property? And does it matter when you buy if you are giong to be in it for 30years plus?
ParticipantChula Vista is the La Joya of TJ. It’s not that bad of a place to live. But it is far from the Beach. Outside of that, it’s the same there as it is everywhere in the US now. It has all the big box retail, food, stores and but it does have hot latin ladies… The cost to live there is a joke. You have Melaroos and HOA fees on top of a house that looks just like the neighbors. O yeah, there are a million day-care providers that are super cheap.
The most eastern portion of CV is only 17 miles from Downtown SD, which is closer than Poway and Carmel Valley, where you can find new homes. But it takes about 50-mins to drive into downtown and about 45-min to take the bus to the trolley into downtown.. Plus they have some pretty cool Mass transit lines planned to serve the median of E. Palomar and the I-805 to Downtown, Kearny Mesa, UTC and Sorrento Mesa. http://www.SANDAG.com The commute to TJ isn’t bad either if you like Mexian food or industry..
You’ll find a lot of Koreans living in Chula Vista too because the manage the Maq factories in TJ.
Because of the huge cultural blend of people down there, there isn’t that since of community. I lived there for 4 years and never really got to know any of my neighbors. I’ve lived where I am at now for two months an know everyone on the street. In other words, if your not mexican and you are white, forget about having any kind of social life down there quickly.
ParticipantYeah, this condo villa will be a much needed expansion for San Diego State and their shortage of Student housing. Plus, it will cut back on the number of needed parking spaces because the students will be able to just on the Trolley there at Grantville. Finally some one is using thier brain and developing smart growth.
ParticipantYeah, I usually figure in the property tax too. It’s more important, especially if you live in a Mello Roos area or an area with HOA. That could add an addtional $500 a month to your mortgage above the flat property tax.
ParticipantYeah, i am not sure how many SDers have 90k to put down, unless they sold their town home a year ago and bought it in 2001. Most spend their money at Fashion Valley or at Car Country Carlsbad.
I just have this gut feeling that when the pendulum starts to swing back in the positive growth direction, it’s going to swing harder than it did these past few years. If you’re one of the little guys and you’re not in, forget it. You’ll be renting for the rest of your life. It’s almost like you have to buy when everyone is running and sell when everyone is trying to get back in. But who am I….
There are two places I would never buy in SD. East Chula Vista and Downtown San Diego. These two locations are going to get crushed over the next couple of years.
ParticipantDel Cerro Blvd…. Next to Windmill Farms… Next time any of you have a chance, drive by around there. The area has a ton of potiential. In that area there is little to no inventory. I would wait until the prices came down to $450k or $475k, but then I feel that is too low. With two incomes, that’s about a $2,800. per month mortgage with no mello roos or HOA. It’s hard for me to think that area would go for less than $475k. Come on, housing isn’t suppose to feel like it’s free and everyone has a right. The USA is the only place in the world with as much land and as many single family homes as we have. At some point there just isn’t going to be enough single family homes in SD to support he demand. Downtown highrise living will be the only thing available and all the kids that were born in this city will be scrambling to buy anything they can get their hands on in 10-years when the population explodes and this whole down market syndrom is washed away. Not sure if any of you check out SANDAG projections for population grow, but it’s happening now. Yeah, read the paper and you’ll see that more left than came in to SD last year, but more were born here and live here than did last year. The population grown for all US cities over the next 20-years is going to come from within. America is going to start growing faster again and San Diego is a prime location being that it is a three country economy (USC, Mexico and China.)
Participantlol…. I’ve already got my vegetable garden and chicken feed ready to go…
ParticipantWhat would you offer?
There is a place for sale on Raymar Ave. It’s MLS is 062090871. THey are asking $599k. In the real world, what would you offer? The area around Hill Grove Dr is super nice.
ParticipantYeah, there are homes on the high hill for 1.1 million, but there are also home that are just below the hill, but still have views for mid $500k (along Del Cerro Blvd). I think last year one actually sold for 650k. When I think about its realitive cost to areas like normal heights and Rolando, it seem like a steal given you don’t have to deal with the inner city BS. The community also has carm, with some turn over, could end up like a Kensington? Also, how can an area get hit if there is no property for sale?
ParticipantThe one advantage Chula Vista/Eastlake/Otay Ranch has is the fact that the City of Chula Vista, MTS and SANDAG have planned for the increase of traffic congestion. Within the next 6 years, MTS, SANDAG and Caltrans will be building one of the first state of the art Bus Rapid Transit systems. This system will have its own lane down the median of E. Palomar Street, serving the Otay Ranch Town Center, the future university and will operate down the median of the I-805 fwy. It will extend into downtown and other alighnments will head to Kearny Mesa, UTC and Sorrento Mesa. The travel time on this mode will be better than driving. At each station there will be laundry, coffee and other daily needs. Enjoy it!
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