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Two detached fee simple houses in the OB/MB/PB/LJ region under $1 million. They are both small 2/1s priced in the 900s, 904 Beryl St 92109 and 4884 Del Mar Ave 92107.

Finally, in La Jolla, 453 Westbourne is detached 1-bedroom bungalow condo with no HOA for $750,000.

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That writing is painfully bad, wordy and repetitive.

I couldn’t read past the first few paragraphs.

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I think you should do it now, no question. The new .5% fee is pure loss to you when it kicks in.

The bigger question is if you should accept a higher rate to avoid the $2400 cost you mention.

I calculated the breakeven on paying the fee v higher rate is about 6 years most of the time, and here I am doing a refi 8, 6, and 3 year into each of my mortgages, so it didn’t matter overall.

Just get it done and stop thinking about it.

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Pink, there’s no central database for rentals.

Data on them is not reliable. Various sources on changes to local rents show different numbers, with one source saying, for example, +10%, another +3%, another -1%.

Using something like Zillow, you have to assume the percentage share of total rentals Zillow captures does not change over time. That assumption is probably wrong. Zillow used to scrape rental listings from other sites, I don’t know if that’s still the case.

Here’s some recent data on rents:

Rents Rising in Carlsbad, Encinitas, While National City Is Region’s Most Affordable

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Calculated Risk is tracking this. Large complex on time rent payment declined from
81 to 76% year over year.

The business model of these larger complexes to get people with weaker credit and charge more and have aggressive collections. So small landlords probably have an even smaller decrease in payments.

Being choosy with tenants and not raising rent has probably cost me about $10,000 over many years, which is very little compared to the financial and mental health stress cost of a single really bad tenant who has nothing to lose, is judgement proof, and knows how to work the courts and will lie.

I think the set of such people, and the set of people with 750+ credit scores and a reference from prior landlords, barely overlaps.

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Sweden is less wealthy and more urban than Norway Finland and Denmark.

There’s a big random factor in covid19 too. Belgium and Lombardy got hit very hard compared to similar neighboring areas.

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My Jan 2020 pre-covid prediction was +8% for 2020.

https://www.piggington.com/2019_price_change_san_diego_housing

The current stock and RE bull starting from the covid lows caught me completely by surprise. We have a combination flight to safety of US bonds precious metals and residential RE and flight to garbage by dumb retail momo investors. I can’t think of anything like it. Lots of unsexy stocks that sit between getting left behind.

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Looking at Rich’s charts, last time months of inventory was under 2 for a while was 2013, prices flew almost straight up, +21% in Dec 2013 over Dec 2012.

Such a sudden increase in prices did bring out some (poorly timed!) sellers.

Now we have even lower rates, even lower inventory, only thing holding us back are the huge downpayments needed and conforming loan limits not rising as fast as prices.

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92107 (Ocean Beach/Sunset Cliffs/Point Loma Heights):

36 sales in August, versus inventory of 27. So 0.75 month inventory.

Six of the 22 SFH sales were for 1.5M+, I’ve never seen the high end move so quickly.

Any parts of San Diego that right now with 1.0+ month inventory? Probably just places with a lot of new construction: so downtown, new suburbs, and zips with recently completed large infill projects.

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There are silver mines in Mexico producing silver for $4 an ounce. The reason they don’t crash the price is they are all in terminal decline, and the cost to expand them would raise the price to $20+.

Precious metal mining is an environmentally dirty business, gold in particular. Less of it would be good for both investors and Earth.

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I see now, the anti-AirBNB 30-day minimum rental provision is if you want to use the state law to “force” the right to build an ADU within a single family zone that doesn’t allow them.

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“Because it got classified as an ADU he cant do rentals less than 30 days.”

Most of the “Let’s regulate AirBNB” proposals in San Diego treat ADUs better than condos in terms of short term rental regulation.

What people seem to really hate are the big AirBNB companies that rent out dozens of places or convert apartment complexes to AirBNBs.

An ADU has the owner right on site and able to police noise issues etc.

Anyone know of the new creature called a “Junior ADU” actually existing somewhere?

“Junior Accessory Dwelling Units Law In California

The State of California recently adopted legislation (SB 13, AB 68 and AB 881) that defines the standards local jurisdictions can apply to Accessory Dwelling Units (ADU) and Junior Accessory Dwelling Unit (JADU). This legislation is contained in the California State Government Code Section 65852.2. Read more
Junior Accessory Dwelling Unit (JADU) General Provisions

A. There is a limit of one JADU per lot zoned for single-family residences. The JADU shall be constructed within walls of a proposed or existing single-family residence.
b. Maximum size is 500 square feet, however, an additional 150 square foot expansion beyond the physical dimensions of the existing structure is permitted strictly to accommodate ingress and egress to JADU.
c. The JADU shall include a separate entrance from the main entrance to the proposed or existing single-family residence.
d. The JADU shall include an efficiency kitchen, which includes:
i. Cooking facility with appliances (240-volt service outlets now permitted)
ii. Food preparation counter and storage cabinets that are of reasonable size in relation to the size of the JADU
iii. No restriction on maximum waste line diameter
e. A deed restriction is required and must include the following stipulations:
i. Prohibition on the sale of the JADU separate from the sale of the single-family residence.
ii. Restriction on the size and attributes of the JADU.
iii. If a JADU is rented, the unit shall not be rented for a period of less than 30 consecutive calendar days
iv. Owner occupancy of one of the units on-site is required* *Owner-occupancy is not required if the owner is another governmental agency, land trust, or housing organization.
f. The JADU may share sanitation facilities (i.e. bathroom/shower) with a primary residence.
“

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“but the key long term driver will be mining cost.”

True for nearly all commodities, but not gold.

The reason is that annual gold mining is such a tiny fraction of the above-ground stock.

For gold, the willingness for investment holders and governments to buy versus sell is 97% of the price.

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EconProf,

I have never done a true FSBO because I have never sold RE, but I’d probably give it a shot, and set the buyer’s agent amount to something low like .5 to 1%. It’s a hot market, and if there’s a clueless buyer with a conflicted agent, oh well, there are lots of fish in the sea.

I did, however, do a purchase without any listings or agents. I made a fairly casual and non-serious loball offer to someone planning on moving out of state. To my surprise, it became a deal, and we used a mortgage broker and title company to create all the paperwork, disclosures, etc for a flat fee that was about 0.2% of the price.

I’m just a do-in-yourselfer at heart. I do my business and personal taxes myself as well.

It is odd that we end up seeing seller agents getting squeezed more than buyers, even though in most cases they do more work and have higher expenses.

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Why is the Carlsbad listing overpriced? 5 million for about an acre a block from carlsbad beach seems reasonable and is in line with my area.

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