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Eugene
ParticipantYour argument was that if owning would cost you the same as rent, then why not buy? Well, my argument to that was if you buy today when prices are steadily dropping rather than waiting a year (or more) that second year and thereafter, you’re gonna lose money. Period.
The argument is this. If we’re back to fundamentals, prices may continue dropping but only at the expense of rising interest rates. You can buy a house today for $500k, agree to pay $3000/month, and live in it for 20 years, and sell it for (let’s say)$1 mil. Alternatively, you can rent for two more years, buy the same house for $400k, end up paying the same $3000/month, live in it for 18 years, and sell it for $1 mil. Net result is the same.
And if you think that you may have to sell after a few years, you should not buy a house in the first place.
Participantesmith, when you quotoed the jumbo fixed 30-year mortgage @ 5.125% , who will pay you the points???
If I’m buying a house for 670k, I’m sure I can afford to pay 12k for 2 points.
Participantesmith, when you quotoed the jumbo fixed 30-year mortgage @ 5.125% , who will pay you the points???
If I’m buying a house for 670k, I’m sure I can afford to pay 12k for 2 points.
Participantesmith, when you quotoed the jumbo fixed 30-year mortgage @ 5.125% , who will pay you the points???
If I’m buying a house for 670k, I’m sure I can afford to pay 12k for 2 points.
Participantesmith, when you quotoed the jumbo fixed 30-year mortgage @ 5.125% , who will pay you the points???
If I’m buying a house for 670k, I’m sure I can afford to pay 12k for 2 points.
Participantesmith, when you quotoed the jumbo fixed 30-year mortgage @ 5.125% , who will pay you the points???
If I’m buying a house for 670k, I’m sure I can afford to pay 12k for 2 points.
Participantthe opportunity cost on $134,000 down payment
Assuming that the guy at 10771 La Alberca Ave put 20% down, he had a down payment of $128,000, and CD interest rates were probably higher back in 2000.
It appears to be in Patina…much, much nicer than 4S Ranch, likely with an ocean view and beautiful upgrades.
It’s called Bernardo Springs. Basically an older version of 4S Ranch. I happen to be renting an apartment in the area and I can assure you that there’s no ocean view there. (Maybe if you climb on top of Black Mountain, you’ll see the ocean.) Can’t speak for upgrades and build quality, I’m too poor to afford a SFR in either one of those two neighborhoods.
Participantthe opportunity cost on $134,000 down payment
Assuming that the guy at 10771 La Alberca Ave put 20% down, he had a down payment of $128,000, and CD interest rates were probably higher back in 2000.
It appears to be in Patina…much, much nicer than 4S Ranch, likely with an ocean view and beautiful upgrades.
It’s called Bernardo Springs. Basically an older version of 4S Ranch. I happen to be renting an apartment in the area and I can assure you that there’s no ocean view there. (Maybe if you climb on top of Black Mountain, you’ll see the ocean.) Can’t speak for upgrades and build quality, I’m too poor to afford a SFR in either one of those two neighborhoods.
Participantthe opportunity cost on $134,000 down payment
Assuming that the guy at 10771 La Alberca Ave put 20% down, he had a down payment of $128,000, and CD interest rates were probably higher back in 2000.
It appears to be in Patina…much, much nicer than 4S Ranch, likely with an ocean view and beautiful upgrades.
It’s called Bernardo Springs. Basically an older version of 4S Ranch. I happen to be renting an apartment in the area and I can assure you that there’s no ocean view there. (Maybe if you climb on top of Black Mountain, you’ll see the ocean.) Can’t speak for upgrades and build quality, I’m too poor to afford a SFR in either one of those two neighborhoods.
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