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doublewide
ParticipantCount us in the 3% column !
ParticipantCount us in the 3% column !
ParticipantHey PerryChase,
No shame in having that mcmansion, we had a great time in ours with lots of family parties and you can’t beat owning a home if you bought at a great time. We’d bought our place in 2004 for 555K so we had a bear of a property tax bill especially when you tacked on “special assessments” and little things within the house were nickle and diming us to death so we got out, thanks to this site filling us in on the coming market conditions.
We thought we might rent for year then buy again but during this year we’ve learned we love our freedom. We took a road trip across the US w/ our dogs over Christmas that was a once in a lifetime event and not too long ago we got to go to the U.K. There is no more stress about paying the property tax bill or the homeowners insurance and no more worries about losing the 25% we’d put down on the house back in 2004, instead it’s earning money for us now in a CD.
I’m just so tired of “renter” having a stigma attached to it as if we’re all “unstable” and our kids don’t have roots.
You enjoy that mcmansion till you don’t need it any more. By the time you want to sell it you’ll still have plenty of equity because you got in at a good time unlike people who are just hell bent on buying this year.
doublewide
ParticipantHey PerryChase,
No shame in having that mcmansion, we had a great time in ours with lots of family parties and you can’t beat owning a home if you bought at a great time. We’d bought our place in 2004 for 555K so we had a bear of a property tax bill especially when you tacked on “special assessments” and little things within the house were nickle and diming us to death so we got out, thanks to this site filling us in on the coming market conditions.
We thought we might rent for year then buy again but during this year we’ve learned we love our freedom. We took a road trip across the US w/ our dogs over Christmas that was a once in a lifetime event and not too long ago we got to go to the U.K. There is no more stress about paying the property tax bill or the homeowners insurance and no more worries about losing the 25% we’d put down on the house back in 2004, instead it’s earning money for us now in a CD.
I’m just so tired of “renter” having a stigma attached to it as if we’re all “unstable” and our kids don’t have roots.
You enjoy that mcmansion till you don’t need it any more. By the time you want to sell it you’ll still have plenty of equity because you got in at a good time unlike people who are just hell bent on buying this year.
doublewide
ParticipantRegarding the OP:
Jason I can give you one example of a current buyer. My Mother-in-law just bought a SFR in Carmel Mt. Ranch. All the advice she got from her son who is a CPA, her other son who is very frugal and even her mortgage broker could not stop the train. She was obsessed w/ owning. One reason seems to be psychological – she’d been renting Downtown for a year and felt she was throwing away money, I think it’s a generational thing, her generation bases a lot of self worth on owning. Another reason was her obsession with moving her tax basis. The place she’d sold before renting had a tax basis of 350K and she had until Feb. ’09 to move it so she was in full blown panic mode to buy because it was that or sign a 6 mo. long lease somewhere and have to pay rent and a mortgage if she bought in the Fall. She paid about 625K for a 1600sf place so the way I figure it she’s saving about 3k in property taxes a year. I’m afraid she’s going to lose that much and more over the next couple of years as things “adjust” but hey she’s now one less renter w/ whom I’ll have to compete for a rental home.
As to Myito:
Why does it seem the buyers are always trying to justify their purchases? Hey, if you want to buy you’ll get no argument from me. One less renter with whom to compete. You’ll be paying a nice property tax on that inflated price supporting our public services. I’m a renter and proud of it. It’s a personal choice to buy vs. rent. We’ve done the 3000 sf SFR w/ pool and granite and all that rot – was not our cup of tea! Too much dusting, too many expenses. We have a kid and love to travel so renting works for us and will for many years to come. My beef is with the rotten Realtors and Flippers – I hope they sink like stones during this “correction”. To the average Joe who wants to buy and put down roots, be my guest. For us, security is watching our money grow slowing in our 5% CD and knowing we can up and scoot at the first wiff of adventure. If security for buyers is having that deed right now and taking the risk of watching your home depreciate, while paying property taxes, repair costs, homeowners insurance, etc. have at it.
Doublewide
ParticipantRegarding the OP:
Jason I can give you one example of a current buyer. My Mother-in-law just bought a SFR in Carmel Mt. Ranch. All the advice she got from her son who is a CPA, her other son who is very frugal and even her mortgage broker could not stop the train. She was obsessed w/ owning. One reason seems to be psychological – she’d been renting Downtown for a year and felt she was throwing away money, I think it’s a generational thing, her generation bases a lot of self worth on owning. Another reason was her obsession with moving her tax basis. The place she’d sold before renting had a tax basis of 350K and she had until Feb. ’09 to move it so she was in full blown panic mode to buy because it was that or sign a 6 mo. long lease somewhere and have to pay rent and a mortgage if she bought in the Fall. She paid about 625K for a 1600sf place so the way I figure it she’s saving about 3k in property taxes a year. I’m afraid she’s going to lose that much and more over the next couple of years as things “adjust” but hey she’s now one less renter w/ whom I’ll have to compete for a rental home.
As to Myito:
Why does it seem the buyers are always trying to justify their purchases? Hey, if you want to buy you’ll get no argument from me. One less renter with whom to compete. You’ll be paying a nice property tax on that inflated price supporting our public services. I’m a renter and proud of it. It’s a personal choice to buy vs. rent. We’ve done the 3000 sf SFR w/ pool and granite and all that rot – was not our cup of tea! Too much dusting, too many expenses. We have a kid and love to travel so renting works for us and will for many years to come. My beef is with the rotten Realtors and Flippers – I hope they sink like stones during this “correction”. To the average Joe who wants to buy and put down roots, be my guest. For us, security is watching our money grow slowing in our 5% CD and knowing we can up and scoot at the first wiff of adventure. If security for buyers is having that deed right now and taking the risk of watching your home depreciate, while paying property taxes, repair costs, homeowners insurance, etc. have at it.
Doublewide
ParticipantThx FSD and SD R,
Don’t know how I screwed that up. I typed the Mango address into the county property tax database search field and that was all that came up – a property tax for a boat !
Guess I’ll try the Realist, if it’s available to non-realtors, in the future.
doublewide
ParticipantThx FSD and SD R,
Don’t know how I screwed that up. I typed the Mango address into the county property tax database search field and that was all that came up – a property tax for a boat !
Guess I’ll try the Realist, if it’s available to non-realtors, in the future.
doublewide
ParticipantSo I “yahoo-ed” the owner of this property – James Pathman and came up w/ this link.
http://www.forbes.com/finance/mktguideapps/
personinfo/FromPersonIdPersonTearsheet.jhtml?passedPersonId=918296Wonder if Mr. Pathman of Mango Way is the same Mr. Pathman of Accredited Home Lenders?
doublewide
ParticipantSo I “yahoo-ed” the owner of this property – James Pathman and came up w/ this link.
http://www.forbes.com/finance/mktguideapps/
personinfo/FromPersonIdPersonTearsheet.jhtml?passedPersonId=918296Wonder if Mr. Pathman of Mango Way is the same Mr. Pathman of Accredited Home Lenders?
doublewide
ParticipantAdd us to the list of people to whom this has happened.
The first offer we got on our place in Temecula last year was for 10K over asking w/ a 20K cash back to buyer request. Since we were not in a rush to sell we allowed our anger at the agent to prevent us from making a bad decision and accepting this offer. Not only would the buyers have gotten what we called a “booby prize” of 20K the agent dude, escrow babe, title chick would have recived extra too since they are all paid on percentage commissions.
Granted the buyers would have “technically” paid all these things since it was their lender “technically” loaning them the money to inflate prices and pay commissions, but we were so annoyed by the sleeze factor we took a pass on the deal…glad we did now that I learn it’s also ILLEGAL !You can add my Mother-in-Law to the list too…she was advised by her San Diego RE agent to offer over the asking price for a place in RB she wanted, then ask for cash back to upgrade the place….M-I-L asked the woman, “why would I want to have a bigger mortgage and higher property taxes when I can just ask the seller to come down in price 20K and use my own money to do the upgrades?” The RE agent just stared at her for a good 10 seconds…it was quite classic !
Renting Rocks – for now..If we see Spring ’01 prices again we’ll buy again…until then 4.5% earnings on our CD and a fully funded 401K just can’t be beat !
Doublewide
ParticipantSorry little lady, I should have been more clear.
Late last Summer/Fall we’d drive from Scripps Ranch to say Target in Poway and every corner would be filled w/ For Sale and Open Home signs. It all tapered off in Dec. as one would expect with the holiday season and people pulling off the market or choosing not to list, but now that listings are coming back on the market and we’re heading towards the number of active listings we had in Dec. ’06 it just surprised me that there is virtually no signage in an area where the signs used to multiply like rabbits every weekend.
Doublewide
ParticipantOops !
I should have said “the web site gives you a snapshot of units sold per month and AVERAGE price”.
Gotta get my vocabulary right around here…
Doublewide
ParticipantThanks Perry and jg…
I admit I missed a day or two of posts and this graph slipped right by me. It’s nice to see a graph/picture confirming what I was thinking…it’s nice to know you’re not crazy and that there are others out there who see the insanity too :>) -
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