[golfproz]

That was common practice in the last crash, at least in the IE. I had at least a half dozen people on my street do that in the early 90’s. When the builders started selling new homes at 40%-50% off they all bought new bigger homes that cost way less than the ones they were living in. Then they just let the old ones go back to the bank. There credit was toast for a few years, but really, how much does that matter if you have a home and a few credit cards already. You’re gonna get hit with higher rates if you buy a car but other than that there are few problems.

It’s would not surprise me to see it happen again.

[golfproz]

If you take the numbers and do the math you get…

August 57,875 (23 days) is 2516 per day

Sept 51,259 (19 days) is 2697 per day

That works out to roughly a 7% increase per day from August to September.

[golfproz]

If you take the numbers and do the math you get…

August 57,875 (23 days) is 2516 per day

Sept 51,259 (19 days) is 2697 per day

That works out to roughly a 7% increase per day from August to September.

[golfproz]

More media spin.

August had 23 business days while September only had 19. On a “per day” basis foreclosures were up in September.

They are grasping at straws….again.

[golfproz]

More media spin.

August had 23 business days while September only had 19. On a “per day” basis foreclosures were up in September.

They are grasping at straws….again.

[golfproz]

I did not find any sub 100 sq/ft in Temecula. All those listed are north of there. I did find quite a few in Temecula that were in the low $120s a sq/ft. They’re creeping down and I don’t think it will be too long before Temecula joins the club. It’s still big homes though that are sub $100 sq/ft. I still doubt the smaller ones will drop that low.

[golfproz]

I did not find any sub 100 sq/ft in Temecula. All those listed are north of there. I did find quite a few in Temecula that were in the low $120s a sq/ft. They’re creeping down and I don’t think it will be too long before Temecula joins the club. It’s still big homes though that are sub $100 sq/ft. I still doubt the smaller ones will drop that low.

[golfproz]

I took a look around and found quite a few under $100sqft in South IE. Loads and loads of then between $100 sq/ft and $120 sqft. Most of then are the newer homes built in the last 3 or 4 years.

http://housing-kaboom.blogspot.com/2007/10/broken-100-sqft-barrier.html

[golfproz]

I took a look around and found quite a few under $100sqft in South IE. Loads and loads of then between $100 sq/ft and $120 sqft. Most of then are the newer homes built in the last 3 or 4 years.

http://housing-kaboom.blogspot.com/2007/10/broken-100-sqft-barrier.html

[golfproz]

$200K for a 2000sq/ft+ 3 car, that’s very optimistic. As much as I would like to see that (although it would make my current home worth squat), I just can’t see them getting that low. $100 a sq/ft is possible on a big home but on smaller homes I just have a hard time seeing them go that low. Even in Perris or Highland I think that might be hoping for too much. I’d sure like to see them get that cheap though. I could retire, play golf and let the wife work (hope she doesn’t see this).

I picked up one of the cheaper 32″ Vizios at Costco to hold me over. For $600 it’s not a bad TV.

[golfproz]

$200K for a 2000sq/ft+ 3 car, that’s very optimistic. As much as I would like to see that (although it would make my current home worth squat), I just can’t see them getting that low. $100 a sq/ft is possible on a big home but on smaller homes I just have a hard time seeing them go that low. Even in Perris or Highland I think that might be hoping for too much. I’d sure like to see them get that cheap though. I could retire, play golf and let the wife work (hope she doesn’t see this).

I picked up one of the cheaper 32″ Vizios at Costco to hold me over. For $600 it’s not a bad TV.

[golfproz]

Hey, I was naturalized in 1999 and I still only missed one. I only missed that cuz I didn’t read whole the question. I will admit to guessing (correctly) on one though.

The whole naturalization proccess is a joke. Like getting a loan 2 years ago if you could fog a mirror you can get your citizenship. It really should be much harder than it is. There should be a requirement to read, write and speak the language at something more than a basic level. Just think how much money and paper we would save not having to print everything in English, Spanish, and is some cases Chinese or Korean.

[golfproz]

Rustico, if you think that someone making 150K can save 75K your nutz. First off taxes and deductions take damn near 40% of your check. With the AMT you loose most of the deductions you would otherwise claim. Then you have to live. I have a wife and 3 teenage daughters. You should see my clothing bill per month! I have a hard time saving 1k per month after expenses.

I’m not saying you can’t buy a home on 150K. Obviously you can. But at that income level you should be able to buy a nice home in a nice area and still have enough money left over to save some, take vacations and drive decent cars. With today’s prices you can’t. A nice home in a nice area for a family of 5 is $700k minimum. Even in Riverside where I’ve been looking the nicer stuff is over $600k and the ones I like are over $800k. Even with 20% down that payment would be about 50% of my monthly take home (before PITI) and I can’t even come close to affording the 800k house.

[golfproz]

Where I work we’ve lost about 10% of our engineers to less expensive states. I work at a small defense contractor and we cannot find qualified engineers. They are gone, moved away. All that seems to be left are new grads or rejects. 2 of our best left last year. One went to OK and the other went to TX. I also had a self employed friend move to KS. The price of real estate/cost of living is the main reason people are moving. You can spout off about the weather all you want, but when people making 150k a year cannot afford a decent house or can’t afford to take vacations there is a problem. At this rate CA will be nothing but illegals and low income tourist type jobs soon. It will be hard to justify those 800k homes on a Sea World salary.

[golfproz]

100 sq/ft? I have not seen anything close to that, YET. The best deals I seen so far are around $130 sq/ft in Corona/Riverside and those are on big homes 3000-5000 sq/ft. There might be some 100 sq/ft homes in Hemet or Perris but even out there I think they are still higher than that. Give it a year though and things will probably be very different. The smaller homes will usually price out much higher per sq/ft than the larger ones since the land value is the same for a big house or a small house. You gotta keep than in mind too. You can’t just go off price per sq/ft.

wow, dejavu temeculaguy, if I’d known you were typing I would have saved myself 2 minutes

[Author]

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