Forum Replies Created
-
AuthorPosts
-
February 21, 2014 at 8:20 AM in reply to: Moving money to another country for better interest rates #771144
(former)FormerSanDiegan
ParticipantThe first boomers (born in 1946) turned 65 in ~2011.
We should be seeing a start of some sort of trend if these folks are unloading their assets.
BTW, my father-in-law is one of those leading edge boomers. He retired in place at 65 in a house he bought 10-12 years before retiring. He’s living off social security and a part-time gig. He’s not pulling from his retirement account, not moving, so I have seen no immediate unloading of assets.
Plus, if they were unloading assets, it might even be stimulative to the economy, as they would be unloading for the purpose of consuming. Rather than saving for retirement.
My gut says that the impact of boomers unloading assets is greatly overexaggerated.
Participant14296 Dalia Dr, SOLANA BEACH, CA 92075
Zillow thinks it’s worth $4+ mil
ParticipantI thought people like Patrick Soon-Shiong broke the asian male glass ceiling.
If you don;t know who that guy is, you should.
Participant[quote=afx114]It’s a bit complicated to call it just a currency or just a commodity. Mining is only one part of it (the commodity part). The other part is as a currency.
[/quote]A currency is commonly used as a medium for exchange of goods or services. A commodity is something that is bought and sold with currency.
I believe bitcoin is currently a commodity because people hardly ever use bitcoins to pay for something. They buy bitcoins as a means to someday sell them at a higher value (in some currency such as $) in the future. They then then sell them and use a common currency (like euros or dollars) to buy stuff.
ParticipantBitcoin acts a lot more like a commodity than a currency… a virtual commodity.
ParticipantDuring the previous real estate cycle 5%-down, non-FHA loans were available in the early-to-mid 1990’s.
So it depends what you mean by full circle, but I don’t think loose lending is anywhere close to the mid-2000’s level.
Plenty of additional mechanisms for looser have not been put into play yet.
5% down, full-doc with conservative debt ratios is not necessarily bad by itself. Probably just the first step of 10 towards the next debacle. We have a ways to go.
September 27, 2013 at 12:05 PM in reply to: VIRTUALLY ALL homes I find are in “Backup Offer” #765863Participant[quote=CA renter]
Out of curiosity, will you be having a large cash position, or will you be financing most of your purchase? This does affect whether it’s best to buy in a relatively low rate/high price environment, or a high rate/low price environment.[/quote]You may not really ever have the choice as to whether you buy in a low rate/high price environment, or a high rate/low price environment.
About 6 or 7 years ago plenty of folks said they would wait for the high rate/low price environment to buy, because that would be better for their situation. Rates were supposed to go up, etc….
We haven’t had that environment for 15 years. One could spend your whole adult life or career waiting for that.The only real choice you have is to buy in the current environment and either finance or use large amounts of cash (if you have the cash).
ParticipantThat pic looks like a Carlos Danger message.
Participant[quote=6packscaredy]Temecula is a place of less suffering.
what we think we view as enjoyment or pleasure is actually just a temporary abatement of the fear, anxiety and pain that pervades our lives.
Temecula provides for longer periods of abatement than the surrounding areas.
there, that ought to bring the real-estate buying hordes to us, paramount.[/quote]
It’s great to see scaredy/walter/squat300/6pack back in action. Love it.
Maybe the city/developer can start a new ad campaign.
” Temecula … we suffer less”
or maybe
“You’re gonna suffer anywhere, why not suffer less … Temecula”
or maybe the old classic:
“Temecula… we suck less”
ParticipantYou are being bullied. The landlord cannot charge you for days the unit is not rented due to repairs.
(They can only do that if you break a lease or if they evict you do to damages that you don;t repair). If it’s a normal end of lease they cannot charge that.You might want to review the following tenants rights publication from LA County (maybe a similar one for San Diego):
http://publichealth.lacounty.gov/eh/docs/housing/brochure/tenright.pdfThere are 4 specific things they can charge you for…
California law speciically allows the landlord to
use a tenant’s security deposit for four purposes:
• For unpaid rent;
• For cleaning the rental unit when the tenant
moves out, but only to make the unit as clean
as it was when the tenant irst moved in;214
• For repair of damages, other than normal wear
and tear, caused by the tenant or the tenant’s
guests; and
• if the lease or rental agreement allows it, for
the cost of restoring or replacing furniture,
furnishings, or other items of personal
property (including keys), other than because
of normal wear and tear.A landlord can withhold from the security
deposit only those amounts that are reasonably
necessary for these purposes.ParticipantI think it’s pointless to argue whether a place in Hawaii plus France better, worse, or equivalent to a place in Santa Barbara. Or whether the view in the western US is soulless. These can’t be proven. There’s no data that can be brought that can decide.
But, it is interesting to compare the trade-offs one can make between say a SFR in coastal So Cal versus 1,2, or even 3 properties scattered about various places. You could even consider a more rural SO Cal spot… say a place in SLO plus the place in France or Hawaii…
Anyway, congrats Jazzman on finding what you want for your place(s) to live.
Participant[quote=SDHopes][quote=BoomerAang]You can rent out your existing Temecula home while renting a place in North County.
I was debating between Temecula and North County as well back in 2009, but ended up getting a townhome in Carlsbad. Loving the fact that work is only a little bit away, but wondering how big of a house I could have had. I have a couple friends in Temecula that are trying to get back to a place nearby in North County as well.[/quote]
That’s good advice and we seriously considered doing that. Unfortunately the going rate for rent is 500 dollars less than our mortgage. So renting an apartment back in San Diego County plus the extra 500 dollars would come to more than what we pay now. So frustrating![/quote]
I would stick it out and live in it for two full years so that you can sell without paying any capital gains.
If you sell your primary less than two years after buying it, you’ll pay capital gains tax (15% federal, plus whatever state income tax bracket you are in … likely at least 6% if you have the income to afford a 300+K house).
Participant[quote=paramount]The upside to a new tenant is repricing – hopefully up.
I also wonder if the lease does revert month-to-month, do all other terms of the lease remain in effect?[/quote]
Generally, yes. But you’d have to read the lease to see.
Participant[quote=livinincali][quote=FormerSanDiegan]I agree with Hatfield and HLS here.
Going month-to-month is in your favor.
However, if you really want them to choose a 12-month lease, then don;t ask them, just send them a notice of intent to increase the rent under month-to-month agreement and give them a form with a box to check to give them a choice between the increased month-to-month costs or a new 12-month lease at the same rent (or modest increase).
box 1 – Renew 12 month lease at $X (e.g. no increase in rent).
box 2 – continue month-to-month with $X increase (as of a date far enough in the future that you can give 30 days notice, so e.g. 45 dayd from when you send the letter.).[/quote]
If I received a form like this as a tenant it would probably piss me off a bit. I’d certainly go out and look to see if there might be something better out on the market. The thing about sending out a new 1 year lease is it’s going to make the tenant go look at what’s out there. If you’re at or above current market rates the tenant might decide to leave while if they are on month to month they might not even bother to look. Rents in general have been rising but you never know what’s going on it your particular submarket until you look.[/quote]
If you are at or above market rates, I wouldn’t send the tenant anything. SO I agree with that remark.
I also would not make the new month-to-month rate higher than current market (unless you wanted the tenant to move out for some reason).
The OP wants the tenant to sign a new 12-month lease, this is a way to make that happen (or get a new tenant).
Personally, for my rentals I’ve always just allowed the tenant to continue on the month-to-month. I’ve only raised the rent once after a couple of years of tenancy in one case. In that case I was considerably under market and didn’t care if the tenant had moved out.
-
AuthorPosts
