[Ex-SD]

First, I would call the landlord and ask him what he’s doing with the rent money that you’re paying him. Then I would contact the lender and tell them about the conversation with the landlord and ask them what you should do?

[Ex-SD]

First, I would call the landlord and ask him what he’s doing with the rent money that you’re paying him. Then I would contact the lender and tell them about the conversation with the landlord and ask them what you should do?

[Ex-SD]

I believe El Jefe has figured it out. I also read that same article. Now, the correct numbers are being shown.

[Ex-SD]

I believe El Jefe has figured it out. I also read that same article. Now, the correct numbers are being shown.

[Ex-SD]

I believe El Jefe has figured it out. I also read that same article. Now, the correct numbers are being shown.

[Ex-SD]

Alex, I’m not one of those people that you mentioned. I’m just watching the SoCal & NoCal housing markets from South Carolina after leaving my home(s) in SD of 30 years. Whether you want to believe me or not, I was able to predict this mess with good accuracy and timed it just right when I sold my home and cashed out. My purpose in being on this particular forum is that I would hate to see anybody (other than my sworn enemies who wish me harm) lose their hard earned money by either holding on to a home that they already own and that they absolutely will have to sell within the next 10 years or someone who is thinking of buying a home getting stuck with a super high mortgage payment for 30 years when all they have to do is rent and wait a few years and they’ll be able to buy the same type of home in the same area for 30-50% less. I have a son who still lives in SD and he is renting and saving his money until this whole thing bottoms out. BTW: I’m probably going to move back to SD if I’ve figured this correctly. Can anyone absolutely predict that it will bottom out in 2012? NO! But, my guess is late 2011 or 2012 will either be the bottom or darned close to it. But, even then, prices will not spring back overnight. Buyers who wait for the bottom will have their choice of plenty of properties for sale. Even the richest investors will not buy a property in SD at the present prices because they won’t get a decent net return on their money. The majority of markets in the USA have nice single family housing for $175-$250k. Houses above that level are usually luxury homes. CA wages are not that much higher than those in other markets that offer these homes so now that the brokers won’t be selling mortgages for $600k houses to window cleaners and berry pickers and down payments are going to be a normal requirement again, if you factor in all of the foreclosures that have already happened, look at the high number that are expected when loans reset for borrowers who have adjustable ARM mortgages and look at the interest rate on a jumbo loan which is presently required to purchase just about every SFR in CA…………..you don’t have to be a rocket scientist to figure out that this rocket had to crash.
I sincerely hope that you can find what you want within a reasonable timetable but if you’re presently renting and going to stay in CA, I would strongly advise you to continue doing so for a minimum of two more years. If things haven’t gone down as much as the majority of people on this forum (and others) are saying at the end of two years, then you can look at buying but with all of the factors that I mentioned above coming into play, I think you’ll be a very happy camper that you waited.
Good luck to you whatever you decide.

[Ex-SD]

Alex, I’m not one of those people that you mentioned. I’m just watching the SoCal & NoCal housing markets from South Carolina after leaving my home(s) in SD of 30 years. Whether you want to believe me or not, I was able to predict this mess with good accuracy and timed it just right when I sold my home and cashed out. My purpose in being on this particular forum is that I would hate to see anybody (other than my sworn enemies who wish me harm) lose their hard earned money by either holding on to a home that they already own and that they absolutely will have to sell within the next 10 years or someone who is thinking of buying a home getting stuck with a super high mortgage payment for 30 years when all they have to do is rent and wait a few years and they’ll be able to buy the same type of home in the same area for 30-50% less. I have a son who still lives in SD and he is renting and saving his money until this whole thing bottoms out. BTW: I’m probably going to move back to SD if I’ve figured this correctly. Can anyone absolutely predict that it will bottom out in 2012? NO! But, my guess is late 2011 or 2012 will either be the bottom or darned close to it. But, even then, prices will not spring back overnight. Buyers who wait for the bottom will have their choice of plenty of properties for sale. Even the richest investors will not buy a property in SD at the present prices because they won’t get a decent net return on their money. The majority of markets in the USA have nice single family housing for $175-$250k. Houses above that level are usually luxury homes. CA wages are not that much higher than those in other markets that offer these homes so now that the brokers won’t be selling mortgages for $600k houses to window cleaners and berry pickers and down payments are going to be a normal requirement again, if you factor in all of the foreclosures that have already happened, look at the high number that are expected when loans reset for borrowers who have adjustable ARM mortgages and look at the interest rate on a jumbo loan which is presently required to purchase just about every SFR in CA…………..you don’t have to be a rocket scientist to figure out that this rocket had to crash.
I sincerely hope that you can find what you want within a reasonable timetable but if you’re presently renting and going to stay in CA, I would strongly advise you to continue doing so for a minimum of two more years. If things haven’t gone down as much as the majority of people on this forum (and others) are saying at the end of two years, then you can look at buying but with all of the factors that I mentioned above coming into play, I think you’ll be a very happy camper that you waited.
Good luck to you whatever you decide.

[Ex-SD]

Alex, I’m not one of those people that you mentioned. I’m just watching the SoCal & NoCal housing markets from South Carolina after leaving my home(s) in SD of 30 years. Whether you want to believe me or not, I was able to predict this mess with good accuracy and timed it just right when I sold my home and cashed out. My purpose in being on this particular forum is that I would hate to see anybody (other than my sworn enemies who wish me harm) lose their hard earned money by either holding on to a home that they already own and that they absolutely will have to sell within the next 10 years or someone who is thinking of buying a home getting stuck with a super high mortgage payment for 30 years when all they have to do is rent and wait a few years and they’ll be able to buy the same type of home in the same area for 30-50% less. I have a son who still lives in SD and he is renting and saving his money until this whole thing bottoms out. BTW: I’m probably going to move back to SD if I’ve figured this correctly. Can anyone absolutely predict that it will bottom out in 2012? NO! But, my guess is late 2011 or 2012 will either be the bottom or darned close to it. But, even then, prices will not spring back overnight. Buyers who wait for the bottom will have their choice of plenty of properties for sale. Even the richest investors will not buy a property in SD at the present prices because they won’t get a decent net return on their money. The majority of markets in the USA have nice single family housing for $175-$250k. Houses above that level are usually luxury homes. CA wages are not that much higher than those in other markets that offer these homes so now that the brokers won’t be selling mortgages for $600k houses to window cleaners and berry pickers and down payments are going to be a normal requirement again, if you factor in all of the foreclosures that have already happened, look at the high number that are expected when loans reset for borrowers who have adjustable ARM mortgages and look at the interest rate on a jumbo loan which is presently required to purchase just about every SFR in CA…………..you don’t have to be a rocket scientist to figure out that this rocket had to crash.
I sincerely hope that you can find what you want within a reasonable timetable but if you’re presently renting and going to stay in CA, I would strongly advise you to continue doing so for a minimum of two more years. If things haven’t gone down as much as the majority of people on this forum (and others) are saying at the end of two years, then you can look at buying but with all of the factors that I mentioned above coming into play, I think you’ll be a very happy camper that you waited.
Good luck to you whatever you decide.

[Ex-SD]

Alex, it appears that you simply want to argue……..not learn from someone who predicted this mess with a pretty good degree of accuracy, then cashed out for a big profit. You can be a smart ass all you like and you can go out and buy some property in SoCal right now if you wish…………neither will help you in the long run.

[Ex-SD]

Alex, it appears that you simply want to argue……..not learn from someone who predicted this mess with a pretty good degree of accuracy, then cashed out for a big profit. You can be a smart ass all you like and you can go out and buy some property in SoCal right now if you wish…………neither will help you in the long run.

[Ex-SD]

Alex, it appears that you simply want to argue……..not learn from someone who predicted this mess with a pretty good degree of accuracy, then cashed out for a big profit. You can be a smart ass all you like and you can go out and buy some property in SoCal right now if you wish…………neither will help you in the long run.

[Ex-SD]

It’s no skin off my butt whether you believe us or not………..but it can cost you a lot of money. Yes, I did predict the run-up that occurred. I went through the run-up in prices between 1988-1992 and the subsequent drop that happened after that. When things starting warming up in early 1998, I predicted that we were in for another run-up and by 2001, I told my friends that due to the rate that it was ramping up, it would probably have to blow up by 2005 or 2006 because nobody would be able to continue paying for the crazy mortgages that they were getting. We sold our house in early 2005, cashed out and left CA. I’m waiting for the mess to bottom out and then we’ll move back. If you look at all the facts and figures, it’s not hard to predict these things, especially if you’ve been through one before.

[Ex-SD]

It’s no skin off my butt whether you believe us or not………..but it can cost you a lot of money. Yes, I did predict the run-up that occurred. I went through the run-up in prices between 1988-1992 and the subsequent drop that happened after that. When things starting warming up in early 1998, I predicted that we were in for another run-up and by 2001, I told my friends that due to the rate that it was ramping up, it would probably have to blow up by 2005 or 2006 because nobody would be able to continue paying for the crazy mortgages that they were getting. We sold our house in early 2005, cashed out and left CA. I’m waiting for the mess to bottom out and then we’ll move back. If you look at all the facts and figures, it’s not hard to predict these things, especially if you’ve been through one before.

[Ex-SD]

It’s no skin off my butt whether you believe us or not………..but it can cost you a lot of money. Yes, I did predict the run-up that occurred. I went through the run-up in prices between 1988-1992 and the subsequent drop that happened after that. When things starting warming up in early 1998, I predicted that we were in for another run-up and by 2001, I told my friends that due to the rate that it was ramping up, it would probably have to blow up by 2005 or 2006 because nobody would be able to continue paying for the crazy mortgages that they were getting. We sold our house in early 2005, cashed out and left CA. I’m waiting for the mess to bottom out and then we’ll move back. If you look at all the facts and figures, it’s not hard to predict these things, especially if you’ve been through one before.

[Ex-SD]

I spent a couple of hours looking at pictures on sdlookup.com at houses and condos for sale in San Diego. Many of them are empty (even more than I suspected) and when you look at the “days on the market” statistics, it really gives you a clear picture of what’s going to happen if sellers don’t get realistic with their pricing. All had mortgages and it’s hard for me to comprehend that a seller would continue to pay the costs associated with carrying these properties each month without taking some kind of aggressive action to get them off their backs, NOW!

From a buyers perspective, frankly, I’m amazed that anyone would buy a home in SoCal or any bubble market at the present time but there are still those that don’t believe that prices will be driven down much further than the present asking prices. But since there are still buyers in the market, wouldn’t you think that the sellers who really need to move these unoccupied properties would do something more than sit on their hands and wait for an idiot to wander in their property with a wallet in their mouth? Dumb…….dumb…………dumb! Obviously, many of these sellers have never had any experience with selling a big ticket item of any sort or they have become too used to the ridiculous mindset that has prevailed in CA for far too long that properties sell for full list price (or more). Surprise!

[Author]

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