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gzz
ParticipantJanet and Jerome say NO to high rates, GSE bonds Nom Nom Nom.
Participant2020 volume in OB/PL went way up, even more than prices.
92106: # of SFH sales 2019 to 2020:180 to 226, +25%
$ of sales,$240m to 340m +42%.92107: 143 to 172 SFH sales, $178m to $233m $ sales volume, +20% and +31%.
Participant92107 inventory is a rounding error from zero. Only 6 single family houses, for 1.3, 1.9, and the rest 2+ million. Only 1 condo and 3 townhouses for a total MLS inventory of 10 in an area where a strong month in a normal market has 40 sales.
Another way to look at it is that there are about 15,000 people in rental households in 92107. If only 4% of them are making plans to buy, that’s 600 potential buyers chasing……. 0 houses, 2 townhouses, and a single 1/1 condo under $900,000. And they will compete with investment buyers, out of area buyers, “buy another home and keep the old one as a rental” buyers,” parents buying for their kids, etc.
There certainly could be another covid/9-11/1929 crash scale event in 2021. Outside of that, we’re headed straight up. Lots of buyers, virtually no sellers.
February 10, 2021 at 7:53 AM in reply to: Small Boost in Cal housing prices: homestead exemption increased from 75k to 600k #820546ParticipantHappy to do that research for $$$! If you want to do it, just go to a law library.
The two likely answers are (1) in a foreclosure the court needs to disentangle the value of the owner’s half to determine the homestead exemption (2) it just is all homestead. Courts often have to make simplicity versus fairness determinations like this.
Given that the exemption was so tiny here for so long, I doubt we have any cases on it, and California would simply follow the majority approach of other state courts.
ParticipantSDR, running utilities to your ADU could either be fairly simple or double the project cost, if your current setup is too small to be simply extended to the ADU.
I asked a developer about preserving my house and building a triplex behind it versus just tearing it down for 4 units. He said completely new hookups are needed and building around an existing one is extremely expensive and kills the economic advantage of building 3 instead of 4 units.
ParticipantThe “secondary” insurance is whoever has the 2nd deepest pockets, the primary is the deepest.
If the injury is really bad, the insurance company will try to get out of paying it.
This may be why workers comp is so expensive, it is no fault. Anything short of a deliberate self harm is covered, even if you do something really stupid at no fault to your employer.
How dangerous is being a lawyer/paralegal in an office? One who never has and never will do anything involving criminal or family law, where you get crazies sometimes?
According to what we pay in workers comp, it is slightly safer than being an underwater welder. Just barely.
ParticipantAsk your homeowners insurance agent if this is already covered or can be added.
Workplace accident insurance is obscenely expensive compared to the risk, so you could also just self insure (ie not worry about it).
ParticipantMira Mesa in Nov 2011, just as prices started to go vertical: 129 houses and 87 condos, versus 7 and 9 right now.
In the Nov 2011 inventory, there were a dozen condos under 100k, and zero houses listed above 500k. The most expensive house was 7990 Hollow Mesa Ct, a 5 bedroom that eventually sold for $495k.
Showing how low end condos were the best performers, the cheapest late 2011 condo in Mira Mesa was 9534 Carroll Canyon Rd APT 128, listed at 86k, now with a Zestimate of $327k, making it nearly a 4-bagger. The Hollow Mesa Ct. 5-bedroom house hasn’t even doubled.
ParticipantMy 1-day profit of almost 40k on FIZZ and IRBT evaporated today and I sold roughly at break even (up maybe 8k).
I kept a bit of both, but I am not made for momentum investing on meme stocks.
To make up for the remaining long position in the ultra-shorted sector, I opened a short in the mall reit MAC. It is a really awful business to be in.
ParticipantI have to much dignity to buy gme. But i made 24k today in a brand new position in FIZZ I opened yesterday afternoon plus irbt.
This doesn’t make a lot of sense, but I think will keep going another day or two.
ParticipantAN i feel more comfortable in an old smaller house on big lot as in MM than the newer style I associate with Carmel Valley (I’ve seen similar in Dana Point).
But as long as you’re gonna have big homes on small lots, 3roots seems to have a great design.
When I was in DC i rented in the Foxhall part of Georgetown on a street of 4000+SF tudor townhouses with 3 floors + basement and typically 5-7 beds 4-5 baths, lavish street landscaping, and 15×30 back yards. I liked this better, as long as you’re going to put houses so close together, might as well connect them to lower building costs and increase SF. This wouldn’t be for everybody here, but it is a shame our zoning rules don’t seem to allow or promote this at all. Both DC and SF have newer construction in this basic size and style.
ParticipantPonzi scheme that causes massive environmental destruction as a side benefit. Chinese coal plants are even dirtier than ours and running full speed to power “miners” which themselves become toxic e-waste in 12-16 months after purchase.
Participant3roots looks stunning and well designed.
The prices don’t seem bad either, but it is unclear just how crowded the houses are from a quick look.
I like that they are doing 3 floor homes in a suburban area.
ParticipantNever gets old when Mira Mesa is the topic:
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