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kev374
Participant200/sqft is my target point.
That is around 40-60% off todays prices. I have a budget of around $300-350k for a 1500-1600sqft in Mission Viejo/Aliso Viejo/Laguna Niguel.Even for a $300k property the affordability metrics are quite steep, one would need $40,000 cash to bring to the table for down and closing costs, at least 3 months reserves of $10,000 and furnishing/moving in expenses are going to be there for a new home..let’s not kid ourselves. $60,000 cash minimum is required. In addition a typical family with 2 kids, $120,000/yr income is needed. Not many have these attributes.
Participant200/sqft is my target point.
That is around 40-60% off todays prices. I have a budget of around $300-350k for a 1500-1600sqft in Mission Viejo/Aliso Viejo/Laguna Niguel.Even for a $300k property the affordability metrics are quite steep, one would need $40,000 cash to bring to the table for down and closing costs, at least 3 months reserves of $10,000 and furnishing/moving in expenses are going to be there for a new home..let’s not kid ourselves. $60,000 cash minimum is required. In addition a typical family with 2 kids, $120,000/yr income is needed. Not many have these attributes.
ParticipantPD, the problem with adjusting for inflation is that incomes are generally not keeping up with local inflation rates. OC has an inflation rate of 4.3%, most wage increases I have heard of are in the 1-3.5% range, that is not even sufficient to keep pace with local inflation.
The problem is that the prices of certain items like gas, rents, energy, health insurance etc. is skyrocketing. Rents in my area went up 6%-9% last year. So prices may be lower inflation adjusted but incomes are even lower than that!
ParticipantPD, the problem with adjusting for inflation is that incomes are generally not keeping up with local inflation rates. OC has an inflation rate of 4.3%, most wage increases I have heard of are in the 1-3.5% range, that is not even sufficient to keep pace with local inflation.
The problem is that the prices of certain items like gas, rents, energy, health insurance etc. is skyrocketing. Rents in my area went up 6%-9% last year. So prices may be lower inflation adjusted but incomes are even lower than that!
Participant2.5%
All raises in our company were between 1 and 3% which is quite lousy!Participant2.5%
All raises in our company were between 1 and 3% which is quite lousy!Participantunmarried, I’m 33 and my girlfriend is 30, combined income is $213,000/yr. including bonuses. Currently renting a 1bd for $1350/mo. Will not consider buying until the prices go down such that a household making $75-80k/yr can buy a decent place.
Participantunmarried, I’m 33 and my girlfriend is 30, combined income is $213,000/yr. including bonuses. Currently renting a 1bd for $1350/mo. Will not consider buying until the prices go down such that a household making $75-80k/yr can buy a decent place.
ParticipantFat_lazy_union wrote:
The rule applies to individuals who place antenna that meet size limitations on property that they own or rent and that is within their exclusive use or control, including condominium owners and cooperative owners, and tenants
The rule applies to the patio but you cannot affix the dish to the building or it’s components. For instance I have a patio but to get a clear signal DirecTV needs to affix the dish to the overhead beams above my patio but that is considered part of the building, not part of the area I am renting, and the apt. regulations do not allow it, they say due to their insurance regulations. I can’t use a stand because the overhead beams obstruct the signal.
ParticipantFat_lazy_union wrote:
The rule applies to individuals who place antenna that meet size limitations on property that they own or rent and that is within their exclusive use or control, including condominium owners and cooperative owners, and tenants
The rule applies to the patio but you cannot affix the dish to the building or it’s components. For instance I have a patio but to get a clear signal DirecTV needs to affix the dish to the overhead beams above my patio but that is considered part of the building, not part of the area I am renting, and the apt. regulations do not allow it, they say due to their insurance regulations. I can’t use a stand because the overhead beams obstruct the signal.
ParticipantCable…Spending $100/month on cable is absurd. Besides TV being a mental drain, it’s also a pocket drain..Sorry, hope it’s worth it.
My cable bill is $70/month for basic cable, this is with Cox. Cable is just a total rip off. I watch about 7-8 channels that I really like – NGC, Travel channel, Discovery, Discovery Health, History, TLC and CNBC. Unfortunately some of the channels are spread between packages purposely to maximize revenue. Heck, I miss my DirecTV for $49.99/mo for all the channels I want but the stupid apt. I live in will not allow a dish 🙁
All TV is not a mental drain, I agree that some of these sitcoms cater to the lower IQ crowd but the documentaries on the channels I mentioned have tremendous educational value, I totally enjoy watching them and feel all the knowledge gained is worth the expense. Education is always worth the $$ 🙂
ParticipantCable…Spending $100/month on cable is absurd. Besides TV being a mental drain, it’s also a pocket drain..Sorry, hope it’s worth it.
My cable bill is $70/month for basic cable, this is with Cox. Cable is just a total rip off. I watch about 7-8 channels that I really like – NGC, Travel channel, Discovery, Discovery Health, History, TLC and CNBC. Unfortunately some of the channels are spread between packages purposely to maximize revenue. Heck, I miss my DirecTV for $49.99/mo for all the channels I want but the stupid apt. I live in will not allow a dish 🙁
All TV is not a mental drain, I agree that some of these sitcoms cater to the lower IQ crowd but the documentaries on the channels I mentioned have tremendous educational value, I totally enjoy watching them and feel all the knowledge gained is worth the expense. Education is always worth the $$ 🙂
June 4, 2007 at 7:47 PM in reply to: Here is your motivation TO WAIT!!!!! $200/sqft in Mission Viejo! #56604Participantlooks like still no interested parties after a month on the market. I guess the idea of creating a bidding frenzy just didn’t pan out! LOL!
June 4, 2007 at 7:47 PM in reply to: Here is your motivation TO WAIT!!!!! $200/sqft in Mission Viejo! #56627Participantlooks like still no interested parties after a month on the market. I guess the idea of creating a bidding frenzy just didn’t pan out! LOL!
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