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flyer
ParticipantSee below
ParticipantIt is interesting to see the unique caliber of some of the homes coming on the market. Can’t imagine selling any of our properties with all of the benefits to us now, and then to our kids, going forward, but I imagine the sellers have their reasons.
So many articles now trying to second guess the future of the housing market, per:
San Diego is extraordinary, so the results may differ from other locations in the country. Guess we’ll all just have to stay tuned.
ParticipantWe’re seeing the same with our rentals all over North County, and in coastal and slightly inland areas further south. Not selling, but it’s definitely tempting.
ParticipantFor many of us who purchased our primary and investment properties well in the past, the accelerating rate environment is not really a concern, but, along with the great info from Rich, here are some other interesting and opposing takes on the situation that may or may not play out. Also, there are still many all cash buyers out there, with a particular interest in CA, so only time will tell.
https://fortune.com/2022/03/28/mortgage-rate-hike-could-slow-the-housing-market/
Participant[quote=sdrealtor][quote=flyer]With all of my wife’s projects in the entertainment industry, when not Zooming business meetings, we’re in the Los Angeles area once in awhile, and we’re hearing real estate may be cooling off a bit up there as well. Our daughter and her husband live in Malibu, and they are also seeing a slight decline in demand, so, things do seem to be changing in various SoCal and other areas.[/quote]
It’s literally been only the last week and in a small way. If you are hearing things I’d suggest an exorcism or at least a good shrink[/quote]
We were just up there this week, and it came up in conversation, so it will be interesting to see if it actually becomes a “thing.” It will be fun to see how it all goes.
ParticipantWith all of my wife’s projects in the entertainment industry, when not Zooming business meetings, we’re in the Los Angeles area once in awhile, and we’re hearing real estate may be cooling off a bit up there as well. Our daughter and her husband live in Malibu, and they are also seeing a slight decline in demand, so, things do seem to be changing in various SoCal and other areas.
ParticipantWith all of the crises in the world, something has to give eventually, and the winds of change do seem to be in the air.
Barring WW3, whatever happens, we’re all good, but it is going to be very interesting to see how it all plays out.
ParticipantExactly.
ParticipantAgree with your therapist, scaredy. In and of itself money does not make you happy, but, imo, being able to create the life you want for yourself and your family is very rewarding, and money can facilitate the means to that end, for the short time we are all in this world.
Imo, as you discover your own sense of self and what constitutes the core of your being–whatever you may decide that is–then acknowledge that everything on earth is transitory, you’ll stop seeking a sense of security in places it does not exist, and you will find a sense of peace and happiness beyond your expectations.
ParticipantHi Esco, nice to hear from you. Hope all is well.
Totally understand the temptation to sell in this market, and I’m sure you’ll do whatever you feel is best. There are many new factors that are creating a market we have never seen before, so it’s new territory for all of us, and risk should always be a concern to some degree.
Have heard about various commercial developments from my son who has his finger in many pies here and elsewhere. Apple and other projects will definitely be great for the area, and there seems to be quite a bit of development going on around various places in town.
Back in the day, when commercial was hot in San Diego, we were heavily involved, and those were very exciting times. Got out of most prior to any downturns, but still have a few that are doing well.
All the best!
ParticipantTo each, his or her own wrt to their chosen expenditures, scaredy. If that is someone’s choice, that’s their choice. I’m sure there are worse things.
Also, I’ve never mentioned any concerns wrt our net worth in comparison to others, or being knocked out of the top wealthy class. Like most people on this board, it continues to grow more than we ever expected, so we should all be thrilled with that, as should all of the wealthy newbies moving to our area, and we should welcome them with open arms. Hopefully, they will contribute to sustaining our city at a level we may never have seen before.
We have friends and family who have less, and those who have more than we do–including a couple of billionaires–and neither situation has anything to do with the depth of the wonderful relationships we have built with these people over the years.
At any rate, my original post was simply to acknowledge the comment below wrt how mind-blowing the current state of the real estate market is in many locations in San Diego:
“OK, piggs. Are your minds officially blown yet? This C’bad big bomber just closed for $1m over list. Yup. ONE MILLION DOLLARS over list.”
The end.
ParticipantWe’re thrilled to have many very wealthy people moving to San Diego–the more the merrier–all loving life as usual:)
ParticipantAgree, the gains, especially in the past couple of years have been mind-blowing. Like everyone, we’re up substantially on our properties, and even our primary in rsf, which had been fairly flat prior to the pandemic
boom–has seen some gains–especially when compared to what we originally paid.No question this is all phenomenal, and those who have been invested for quite awhile have nothing to be concerned about, but, it will be interesting to see if real estate takes a hit going forward. If you listen to the pundits–it’s looking that way, but, who knows–guess we’ll have to stay tuned.
ParticipantSo true. We’re really into cars too, and, can’t believe what’s going on in that market either. Guess we should all be glad we “stocked up” when things in life were more reasonable.
Looking back, I’m really glad I encouraged friends and family who were sitting on the fence wrt to moving up or relocating to San Diego to do so a few years ago, and, looking at what’s going on now, they are very glad they did.
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