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GoUSC
ParticipantYou can have a Title Report pulled for the property. That will show all information regarding the property including lender information. If you email me the parcel number (or address) I can at least tell you how much your landlord financed on his property.
radelow AT yahoo DOT com
ParticipantYou can have a Title Report pulled for the property. That will show all information regarding the property including lender information. If you email me the parcel number (or address) I can at least tell you how much your landlord financed on his property.
radelow AT yahoo DOT com
ParticipantMy mom lives about 5 houses down from there on Park Row. That is a god awful house.
ParticipantMy mom lives about 5 houses down from there on Park Row. That is a god awful house.
ParticipantIn general I think all these deals are just put together to make a handful of people very very rich and nothing more.
ParticipantIn general I think all these deals are just put together to make a handful of people very very rich and nothing more.
ParticipantSo $788k. Assuming 20% down that’s equal to $4000 per month payment. Subtract your writeoff (approx. $1600) is equal to $2400. Add in taxes & Mello Roos ($1000) and you are at $3400. That would rent you a very nice house in 4S Ranch (or more so areas by the beach). Not to mention the $470 in interest you would earn (after taxes @ 5.5%) on the deposit sitting in a savings account.
ParticipantSo $788k. Assuming 20% down that’s equal to $4000 per month payment. Subtract your writeoff (approx. $1600) is equal to $2400. Add in taxes & Mello Roos ($1000) and you are at $3400. That would rent you a very nice house in 4S Ranch (or more so areas by the beach). Not to mention the $470 in interest you would earn (after taxes @ 5.5%) on the deposit sitting in a savings account.
ParticipantAs stated before, prices are very very sticky on the way down. It will take some time (6+ months…although December should be interesting) before you start really seeing the pricing come down. This down-cycle is really going to hurt methinks.
FYI I am seeing the same thing in central parts of San Diego.
ParticipantAs stated before, prices are very very sticky on the way down. It will take some time (6+ months…although December should be interesting) before you start really seeing the pricing come down. This down-cycle is really going to hurt methinks.
FYI I am seeing the same thing in central parts of San Diego.
ParticipantHLS I agree with you 100%. When I see people here state they will buy when the cost to rent is the same as the cost to buy I just chuckle under my breath knowing that will never happen. However, and it’s a big however, the gap is so bad in places like San Diego. You have what 5% affordability today? I think a more acceptable number is 30-40% percent… I wish there was less discussion on where prices are and have been and more on the underlying fundamental economics. Aka houses cost this much, assuming a 10% down payment would have a mortgage payment of this much, the average household makes this much per month. No one has explained to me why that isn’t the underlying force behind falling prices.
ParticipantHLS I agree with you 100%. When I see people here state they will buy when the cost to rent is the same as the cost to buy I just chuckle under my breath knowing that will never happen. However, and it’s a big however, the gap is so bad in places like San Diego. You have what 5% affordability today? I think a more acceptable number is 30-40% percent… I wish there was less discussion on where prices are and have been and more on the underlying fundamental economics. Aka houses cost this much, assuming a 10% down payment would have a mortgage payment of this much, the average household makes this much per month. No one has explained to me why that isn’t the underlying force behind falling prices.
ParticipantNo one ever addresses the gap between income and what it costs to own a home. People CANNOT afford houses. Yes maybe at 1-2% but you will never see home loans at that rate long term. Investors just won’t accept that rate of return. Home values have to come down across the board to get things in balance. Pure and simple.
So frustrating sometimes 🙁
ParticipantNo one ever addresses the gap between income and what it costs to own a home. People CANNOT afford houses. Yes maybe at 1-2% but you will never see home loans at that rate long term. Investors just won’t accept that rate of return. Home values have to come down across the board to get things in balance. Pure and simple.
So frustrating sometimes 🙁
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