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Ex-SD
ParticipantI am not an attorney. This is just my opinion.
I believe that when the lease ends and no new lease is signed, you become a month to month tenant. If I am correct, the landlord can terminate your month to month arrangement with a 30 day notice. You can also terminate the arrangement once you become a month to month tenant with a 30 day notice. Always give notice to your landlord “in writing” and send it via registered mail so you can prove that you tendered notice.
ParticipantToo many people only look at “the monthly payment” rather than what they should really focus on:
i.e., Value for the price, total interest over the life of the loan and how much less they would pay if they simply rented for another two to four years and watched the prices drop further and further………and further.
They just have to have it, NOW and the extra $100’s of thousands of dollars that they will pay when you add it all up doesn’t mean anything to them…………it’s just about the monthly payment to them. It’s not smart (in fact, it’s the epitome of stupidity) but that’s the way it is with too many people.ParticipantToo many people only look at “the monthly payment” rather than what they should really focus on:
i.e., Value for the price, total interest over the life of the loan and how much less they would pay if they simply rented for another two to four years and watched the prices drop further and further………and further.
They just have to have it, NOW and the extra $100’s of thousands of dollars that they will pay when you add it all up doesn’t mean anything to them…………it’s just about the monthly payment to them. It’s not smart (in fact, it’s the epitome of stupidity) but that’s the way it is with too many people.ParticipantIf qualified buyers would stop making offers on these over-priced properties, prices would quickly fall back to 1999 levels. It’s the hysteria that “I’m missing out on something” and “If I don’t buy now, I’ll be priced out of the market” that drives prices up or keeps them where they are. When you consider the fact that you could buy a home like this for around $100k in the majority of the country, you will see the absurdity of CA home prices. I lived in SD for 30 years and I could never understand the mentality of people who took on this kind of debt for these types of homes. Yes, they’re cute, little homes but even with the “weather tax”, I don’t think they’re worth more than $125-$150k when compared to the rest of the country. If there are no takers for over-priced properties, prices fall…..(sooner than later)………that’s a fact.
ParticipantIf qualified buyers would stop making offers on these over-priced properties, prices would quickly fall back to 1999 levels. It’s the hysteria that “I’m missing out on something” and “If I don’t buy now, I’ll be priced out of the market” that drives prices up or keeps them where they are. When you consider the fact that you could buy a home like this for around $100k in the majority of the country, you will see the absurdity of CA home prices. I lived in SD for 30 years and I could never understand the mentality of people who took on this kind of debt for these types of homes. Yes, they’re cute, little homes but even with the “weather tax”, I don’t think they’re worth more than $125-$150k when compared to the rest of the country. If there are no takers for over-priced properties, prices fall…..(sooner than later)………that’s a fact.
ParticipantI am NOT an attorney. Just my opinion.
I think that the unpaid HOA fees will continue to accrue for each month that they have not been paid until the unit is sold. At closing, the outstanding HOA fees must be paid from the proceeds of the sale or escrow cannot close.
ParticipantHe’s buying a McMansion in Santee.
ParticipantThose are not rates for jumbos, are they?
ParticipantUh, Carnac….(sdsundevil)……….If you really believe that this is not a bubble beginning to burst and is just a simple market correction…………….you need to quit thinking so much and start reading more facts about what’s really happening. Prices will fall much further over the next four to six years and if you don’t understand why, there is no reason to explain it to you.
ParticipantOops……forgot to put in the link:
http://www.msnbc.msn.com/id/21103880/site/newsweek/ParticipantThat is absolutely amazing to me! How could they not know the answer to that question?
ParticipantOh, their time in the box is coming. Look at the growth in inventory. Not a pretty picture.
Greater San Jose Inventory (Sales)
Tracking Santa Clara County, California
Population 2006: 1.77 million
1/02/2006 Listing per population ratio 1:708
8/17/2006 Listing per population ratio 1:33501/2006: 2,838 (1,486)___01/2005: (1,862)
02/2006: 2,921 (1,776)___02/2005: (1,882)
03/2006: 3,353 (2,632)___03/2005: (2,823)
04/2006: 3,734 (2,424)___04/2005: (2,830)
05/2006: 4,259 (2,496)___05/2005: (2,838)
06/2006: 4,835 (2,763)___06/2005: (3,220)
07/2006: 5,200 (2,059)___07/2005: (2,764)
08/2006: 5,183 (2,252)___08/2005: (2,832)
09/2006: 5,412 (1,867)___09/2005: 3,500 (2,689)
10/2006: 5,039 (1,971)___10/2005: 3,750 (2,557)
11/2006: 4,402 (1,846)___11/2005: 3,403 (2,394)
12/2006: 3,431 (1,908)___12/2005: 2,638 (2,305)Population 2007: 1.81 million
01/01/2007 Listing per population ratio 1:548
06/10/2007 Listing per population ratio 1:24301/01: 3,229
01/31: 3,575 (1,606)___02/2006: 2,838 (1618)
02/28: 3,774 (1,654)___02/2006: 2,921 (1,776)
03/31: 4,498 (2,052)___03/2006: 3,353 (2,632)
04/30: 5,184 (2,009)___04/2006: 3,734 (2,424)
05/31: 5,866 (2,179)___05/2006: 4,259 (2,496)
06/30: 6,234 (2,163)___06/2006: 4,835 (2,763)
07/31: 6,426 (1,910)___07/2006: 5,200 (2,059)
08/31: 7,053 (1,908)___08/2006: 5,183 (2,252)
09/30: 7,436ParticipantIn addition, don’t you have to add the 5% that went to the auction house? If so, that would lower the discount percentages.
ParticipantWell, it’s certainly interesting to see that there are still a bunch of naive, falling-knife catchers that attended the auction. I added the numbers and divided it by the number of units sold and came up with 30.5% as the average discount. One totally ignorant fool bought for a 14% reduction. If you want a condo in San Diego at the present time, there are plenty of deals that equal or surpass what this auction had to offer.
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