[garysears]

I can’t believe my good fortune. I recently bought a 2000 Jaguar XJ8. Looks like I can save my money for things other than speeding tickets.

[garysears]

I felt the need to close out my comments on El Cajon condo complexes. The floor seems to be in on prices at 745 Bradley at late 2000 values. More than 75% off the 2005 peak! That’s right. People were paying 3-4x what they could have if only they would have been patient.

A few knife catchers that bought at 50% off peak, thinking they were getting a good deal, saw multiple units sell for less than half within a few months. Here is the graph.

Watching the declines these past two years has been nothing short of spectacular. Tracking these listings and sales has been a rewarding pursuit but I’m looking at SFRs now that owning makes sense in some areas. For the 2bd condo conversions not yet under 100K in El Cajon I would assume prices will continue to fall.

And to think we were once debating whether 120K was even possible for these units.

Nothing to see here…move along.

[garysears]

I felt the need to close out my comments on El Cajon condo complexes. The floor seems to be in on prices at 745 Bradley at late 2000 values. More than 75% off the 2005 peak! That’s right. People were paying 3-4x what they could have if only they would have been patient.

A few knife catchers that bought at 50% off peak, thinking they were getting a good deal, saw multiple units sell for less than half within a few months. Here is the graph.

Watching the declines these past two years has been nothing short of spectacular. Tracking these listings and sales has been a rewarding pursuit but I’m looking at SFRs now that owning makes sense in some areas. For the 2bd condo conversions not yet under 100K in El Cajon I would assume prices will continue to fall.

And to think we were once debating whether 120K was even possible for these units.

Nothing to see here…move along.

[garysears]

I felt the need to close out my comments on El Cajon condo complexes. The floor seems to be in on prices at 745 Bradley at late 2000 values. More than 75% off the 2005 peak! That’s right. People were paying 3-4x what they could have if only they would have been patient.

A few knife catchers that bought at 50% off peak, thinking they were getting a good deal, saw multiple units sell for less than half within a few months. Here is the graph.

Watching the declines these past two years has been nothing short of spectacular. Tracking these listings and sales has been a rewarding pursuit but I’m looking at SFRs now that owning makes sense in some areas. For the 2bd condo conversions not yet under 100K in El Cajon I would assume prices will continue to fall.

And to think we were once debating whether 120K was even possible for these units.

Nothing to see here…move along.

[garysears]

I felt the need to close out my comments on El Cajon condo complexes. The floor seems to be in on prices at 745 Bradley at late 2000 values. More than 75% off the 2005 peak! That’s right. People were paying 3-4x what they could have if only they would have been patient.

A few knife catchers that bought at 50% off peak, thinking they were getting a good deal, saw multiple units sell for less than half within a few months. Here is the graph.

Watching the declines these past two years has been nothing short of spectacular. Tracking these listings and sales has been a rewarding pursuit but I’m looking at SFRs now that owning makes sense in some areas. For the 2bd condo conversions not yet under 100K in El Cajon I would assume prices will continue to fall.

And to think we were once debating whether 120K was even possible for these units.

Nothing to see here…move along.

[garysears]

I felt the need to close out my comments on El Cajon condo complexes. The floor seems to be in on prices at 745 Bradley at late 2000 values. More than 75% off the 2005 peak! That’s right. People were paying 3-4x what they could have if only they would have been patient.

A few knife catchers that bought at 50% off peak, thinking they were getting a good deal, saw multiple units sell for less than half within a few months. Here is the graph.

Watching the declines these past two years has been nothing short of spectacular. Tracking these listings and sales has been a rewarding pursuit but I’m looking at SFRs now that owning makes sense in some areas. For the 2bd condo conversions not yet under 100K in El Cajon I would assume prices will continue to fall.

And to think we were once debating whether 120K was even possible for these units.

Nothing to see here…move along.

[garysears]

I don’t think it is necessarily stupid to pay off low interest debt today. I’m in a situation now where I’m debating jumping in on the low end of the market with a 3-4 year mortgage payoff goal. My plan would be to be debt free and have a greatly reduced cost of living which would free me up to do what I really want in life without depending on my current income. I’d rather not pay rent or a mortgage. That would cut my monthly income requirement in half.

To each his own, but I see a huge attraction to debt free living. I don’t want to be tied to my current job and income and feel reducing liabilities would be greatly liberating.

I predict the response to this way of thinking would be that I should save my extra money now instead of paying down low interest debt so I can invest it in the future at a rate of return greater than my mortgage once CD rates rise.

At some point it comes down to what you value in life. Right now I feel I would value debt free living today over higher savings rate at some unknown future date.

[garysears]

I don’t think it is necessarily stupid to pay off low interest debt today. I’m in a situation now where I’m debating jumping in on the low end of the market with a 3-4 year mortgage payoff goal. My plan would be to be debt free and have a greatly reduced cost of living which would free me up to do what I really want in life without depending on my current income. I’d rather not pay rent or a mortgage. That would cut my monthly income requirement in half.

To each his own, but I see a huge attraction to debt free living. I don’t want to be tied to my current job and income and feel reducing liabilities would be greatly liberating.

I predict the response to this way of thinking would be that I should save my extra money now instead of paying down low interest debt so I can invest it in the future at a rate of return greater than my mortgage once CD rates rise.

At some point it comes down to what you value in life. Right now I feel I would value debt free living today over higher savings rate at some unknown future date.

[garysears]

I don’t think it is necessarily stupid to pay off low interest debt today. I’m in a situation now where I’m debating jumping in on the low end of the market with a 3-4 year mortgage payoff goal. My plan would be to be debt free and have a greatly reduced cost of living which would free me up to do what I really want in life without depending on my current income. I’d rather not pay rent or a mortgage. That would cut my monthly income requirement in half.

To each his own, but I see a huge attraction to debt free living. I don’t want to be tied to my current job and income and feel reducing liabilities would be greatly liberating.

I predict the response to this way of thinking would be that I should save my extra money now instead of paying down low interest debt so I can invest it in the future at a rate of return greater than my mortgage once CD rates rise.

At some point it comes down to what you value in life. Right now I feel I would value debt free living today over higher savings rate at some unknown future date.

[garysears]

I don’t think it is necessarily stupid to pay off low interest debt today. I’m in a situation now where I’m debating jumping in on the low end of the market with a 3-4 year mortgage payoff goal. My plan would be to be debt free and have a greatly reduced cost of living which would free me up to do what I really want in life without depending on my current income. I’d rather not pay rent or a mortgage. That would cut my monthly income requirement in half.

To each his own, but I see a huge attraction to debt free living. I don’t want to be tied to my current job and income and feel reducing liabilities would be greatly liberating.

I predict the response to this way of thinking would be that I should save my extra money now instead of paying down low interest debt so I can invest it in the future at a rate of return greater than my mortgage once CD rates rise.

At some point it comes down to what you value in life. Right now I feel I would value debt free living today over higher savings rate at some unknown future date.

[garysears]

I don’t think it is necessarily stupid to pay off low interest debt today. I’m in a situation now where I’m debating jumping in on the low end of the market with a 3-4 year mortgage payoff goal. My plan would be to be debt free and have a greatly reduced cost of living which would free me up to do what I really want in life without depending on my current income. I’d rather not pay rent or a mortgage. That would cut my monthly income requirement in half.

To each his own, but I see a huge attraction to debt free living. I don’t want to be tied to my current job and income and feel reducing liabilities would be greatly liberating.

I predict the response to this way of thinking would be that I should save my extra money now instead of paying down low interest debt so I can invest it in the future at a rate of return greater than my mortgage once CD rates rise.

At some point it comes down to what you value in life. Right now I feel I would value debt free living today over higher savings rate at some unknown future date.

[garysears]

Thanks Jim! That is an incredible amount of information in just a few numbers. I don’t know what else the low tax base could imply other than a massive HELOC. It also explains why the asking rent had to be reduced.

Foreclosure prices in 92114 seem certain to soon be under 200k for similar sized places. It definitely seems like a foreclosure driven zipcode. I would consider buying but I just don’t see prices stabilizing. Every month I don’t buy I know I am saving thousands of dollars.

I wonder how long the owners here will bleed money before they give up on the market coming back. It is hard to not be tempted to buy when for the same payment with 20 percent down I could have a 15 year fixed loan.

I just think I’ll have buyer’s remorse if I buy now.

[garysears]

Thanks Jim! That is an incredible amount of information in just a few numbers. I don’t know what else the low tax base could imply other than a massive HELOC. It also explains why the asking rent had to be reduced.

Foreclosure prices in 92114 seem certain to soon be under 200k for similar sized places. It definitely seems like a foreclosure driven zipcode. I would consider buying but I just don’t see prices stabilizing. Every month I don’t buy I know I am saving thousands of dollars.

I wonder how long the owners here will bleed money before they give up on the market coming back. It is hard to not be tempted to buy when for the same payment with 20 percent down I could have a 15 year fixed loan.

I just think I’ll have buyer’s remorse if I buy now.

[garysears]

Thanks Jim! That is an incredible amount of information in just a few numbers. I don’t know what else the low tax base could imply other than a massive HELOC. It also explains why the asking rent had to be reduced.

Foreclosure prices in 92114 seem certain to soon be under 200k for similar sized places. It definitely seems like a foreclosure driven zipcode. I would consider buying but I just don’t see prices stabilizing. Every month I don’t buy I know I am saving thousands of dollars.

I wonder how long the owners here will bleed money before they give up on the market coming back. It is hard to not be tempted to buy when for the same payment with 20 percent down I could have a 15 year fixed loan.

I just think I’ll have buyer’s remorse if I buy now.

[garysears]

Thanks Jim! That is an incredible amount of information in just a few numbers. I don’t know what else the low tax base could imply other than a massive HELOC. It also explains why the asking rent had to be reduced.

Foreclosure prices in 92114 seem certain to soon be under 200k for similar sized places. It definitely seems like a foreclosure driven zipcode. I would consider buying but I just don’t see prices stabilizing. Every month I don’t buy I know I am saving thousands of dollars.

I wonder how long the owners here will bleed money before they give up on the market coming back. It is hard to not be tempted to buy when for the same payment with 20 percent down I could have a 15 year fixed loan.

I just think I’ll have buyer’s remorse if I buy now.

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