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Jazzman
Participant[quote=SDEaves]BG,
Just as you said last month, homes in our price range are getting snatched up by cash buyers.
Since last month’s post, we have put in 2 offers in LM but to no avail. One was taken by an investor; the other we were outbid.
We are still searching. As you and other Piggs have said, inventory is extremely low in our price range. So this all should come as no surprise to you 😉 Your last post implies some sort of impatience at us taking our time with buying and asking questions in the meantime. Perhaps I read into your last post wrong? We will gladly update you once we close escrow on a home. Please send us good luck with our search- we need it![/quote]With inventory so low, and the frustration of being out-bid, why don’t you put your search on hold until things improve. Look at these numbers. Things aren’t improving. http://www.deptofnumbers.com/asking-prices/california/san-diego/
Never, ever bow to pressure from a Realtor. As far as your OP is concerned, you may be a little over-concerned in respect of values. Although some appraisers may be initially confused, it seems pretty clear cut that the two values are not interconnected, which would be made clear to any prospecting buyers, just as you yourself found out.
I personally wouldn’t hold out for any appreciation down the road anyway. The best investments in this market are not based on future potential, but on how well you managed to negotiate the seller down on price. If that is not possible due to shortage of supply, you run the risk of your investment remaining flat. A great time to borrow doth not a great time to buy maketh.
ParticipantAccording to a fairly recent Redfin survey, buyers’ main concern is lack of inventory. However, a majority of sellers still think it is a buyer’s market. So something doesn’t quite tie up here. Inventory may be low but some of the reports like this make is seem like bidding wars are going on everywhere and forcing prices up. As much as some corners would like us to believe this is true, the reality is more likely that many buyers hold off, just give up, or don’t bother at all when faced with over-competition. If you’ve made 80-100 offers (an offer every four days) it may be your strategy needs reviewing. There is only one strategy when faced with a scenario like this, and that is “don’t buy!”
November 12, 2012 at 12:15 AM in reply to: OT-Why Did CIA Director Petraeus Suddenly Resign … And Why Was the U.S. Ambassador to Libya Murdered? #754433ParticipantI can go along with funneling arms to Syria and wishing to keep quiet about it, not that the Russians wouldn’t find out and tell all. But to sacrifice a high ranking official? I also can’t see a strong connection with the resignation of the CIA chief. If deception is one of the tools of their trade, wouldn’t denying any involvement be fairly routine? And sacrificing yet another highly regarded professional? That’s a big price to pay and a huge gamble IMO that it wouldn’t come out anyway.
More important I believe is the lack of support for the Syrian cause. We are led to believe this is due to the complex mix of elements involved. When has that stopped the US in the past? And if it is the case, then the fact the US is using its enemy (as the above suggests), would be fanning the flames they appear so eager to avoid doing? I think the key here is probably Iran, and a confrontation the US doesn’t want right now.
November 11, 2012 at 11:29 PM in reply to: Big government and absurdly strong unions destroyed Greece and Spain. Expect no less for California. #754415ParticipantLast time I looked at the map Spain and Greece were still there. There’s a case to argue government wasn’t big enough to collect taxes due.
ParticipantWell it looks very much like global warming is now shouting at the top of its voice, and it still looks very much like the subject remains taboo, at least on the media. Did one commentary examine the increased frequency of droughts, floods, storms, hurricanes, tornadoes, and heat waves. No. You can see everyone is just too scared to come right out and say it. Why? I think you are going to start to see a migration from east to west.
ParticipantDoes an intellectual make the best president? If he expressed his deeper intellectual thoughts, would the general public understand him. I think he is a good communicator, which is probably more important that intellectual ability for many.
His most honest statement regarding management is that there are so many moving parts to running a country, that for much of the time you fix retrospectively. While not a solution to disasters, it helps ensure the same problem doesn’t reoccur. That is a kind of plain speaking, that underscores a deeper understanding undaunted by expressing a universal truth.
ParticipantI’m only repeating what a Realtor told me, who was selling a house with the Mills Act in place. It may depend on the city. I believe some cities don’t even acknowledge the act. I’d want to be rock solid sure that the terms cannot be revoked other than for the obvious above-mentioned.
ParticipantMills Act sounds great, but renewal is not guaranteed I believe. Quite why a home suddenly no longer qualifies as historically significant is a mystery. One woukd assume with the passing if time, the significance is greater. I guess diminishing tax revenues are more significant.
ParticipantI have been using apple TV and Netlix for two years. The user interface in much easier to use than cable, making selective watching better. Since it’s all on demand, TV viewing is more flexible. However, Netflix has not been updating online movies frequently so regular watchers can run out of good new movies quickly. Overall it’s a much better system than cable, which suffers from quantity at the expense of quality, and a clumsy interface, but it loses out on live coverage such as news. There used to be good news podcasts but they’ve nearly all gone. Hulu doesn’t offer much in my view. Apple iTunes has a good selection of new movies. There’s tons of radio stations, and you can stream photos and music.
ParticipantIt’s ironic America fought to rid itself of its colonial shackles, shaped by centuries of monarchic and class rule, only to continue the battle of class within its free-spirited, egalitarian borders, in spite of decades of social and humanitarian development. Perhaps it never went away, and is only appearing to emerge as a result of a growing awareness of it. Every American will be asking themselves was it all a lie? The term “middle-class” is a euphemism for socialism, and therein lies the contradiction, which has cleverly masked the truth, of what we are and what we aspire to be. There is no changing human nature, but neither are aspirations to be abandoned, as long as they’re accompanied by a bit of humility.
ParticipantMy understanding is entitlements have actually increased 8% more under Republicans, no doubt in efforts to win over the 47%. Politicians are so absorbed with votes they don’t have time for causes.
ParticipantYou could buy 2-3 properties out is state for $300k, and if your investment is to be managed there’s another reason to look elsewhere. Why settle for 3% when you could get 10%?
September 15, 2012 at 12:22 PM in reply to: QE3 Away!: (EDIT: Now on the special unlimited nights and weekend spending plan)… #751484Participant[quote=SD Realtor]Agreed FLU… I almost feel compelled to buy something just because the money is so damn cheap. Looking at another 4plex this weekend out of state.[/quote]
Out of state? Why, I thought CA was the place to buy. Just yankin’ ya chain 🙂Begging your pardon sir, I mistook you for your lower case name’s sake.
August 31, 2012 at 10:59 AM in reply to: Awesome front page LA Times article on the severe state pension issues #750998ParticipantDeflate everything back to zero, start printing money like crazy and tell everyone to lop off a zero on dollar bills each year.
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