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Final thoughts for our friend in Escondido. You wanted 50-75k in "equity" five years henceforth, in order to buy a place in Denver. Well, had you rented a nice place for $1750 a month and saved the other $1750 you are going to spend on your mortgage, etc., you'd have saved up $105,000 over the next five years. The loss of tax deductibility of mortgage interest would have some impact here, however, I think it is plain to see that you blew it. Oh well. Someone here said it best: "it's your money" , only I'd have put it like this: "it was your money".

 

Good luck.

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Self-righteous, no.

Smart enough to know that $3500 a month for a house in Escondido is ree-farkin-dick-yuh-liss, yes.

Congratulations…you have just inhaled the equivalent of “housing bubble anthrax”.

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Not to feed the troll but…

The coming implosion of exotic loan products is substantially more important to our case than “reversion to the mean”. Don’t forget that the pendulum nearly always overshoots on the downswing, too, as extreme pessimism sets in.

Anyway, back to being “crazy”…I think I’ll take the wife to Donovan’s tonight to spend some of my hard “earned” cash and continue to eavesdrop on the conversations I have been hearing amongst our citizenry…sundevil–your brethren are becoming quite a bit more nervous of late. It’s been quite enjoyable, actually, watching formerly smug people begin to shit their pants.

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Hi Brooke,

I couldn’t get the links to work. Is it me?

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Nice comment, Peter, whoever you are!

This guest was a complete liar…Dan Holbrook(sp?), AtVantage Realty in SD. He’s a developer–what do you think he might say about the local housing market?

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I’m about to let you all in on a little secret…here’s how WE sold our two houses. (please don’t let the word get out, though) shhh…

We priced them right in the first place. Both of them sold within 5 days of listing and they both sold as a result of the first and only open houses we held.

No statues, no prayer, no nothing…wait a minute…I guess sacrificing the baby sheep on the granite countertops and then drinking the blood did have something to do with it! Oops, sorry- I forgot…sacrificing small barnyard animals was what helped us sell our houses.

Perfectly harmless.

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dalsik-

Peak buying/selling season is over. You need to ask your Realtor that question about “what price” to “pretty much guarantee selling it right now” immediately. If you don’t, you can pretty much guarantee staying in it through the winter and into next spring, when this market’s drop should really begin to accelerate.

good luck

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I guess the problem I have with this nonsense is the belief these sellers must have that God, himself, is going to help them stick it to another “greater fool”. Complete and utter, f*king nonsense.

Pretty damn funny, though!

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Too funny!! Why stop there? Who needs the poppy, anyway? California state flower is now the for sale sign. San Diego’s city flower should be the omnipresent and beautiful “spinning sign” flower.

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From Maisel Presley’s website…

“WIN A FREE YEAR’S MORTGAGE OR RENT!

Maisel Presley announces an August Raffle, where potential buyers can win a free Year’s Mortgage or Rent. Prospective Buyers are encouraged to pre-qualify at any of Maisel Presley’s 17, luxurious communities. Their pre-qualification form will automatically be entered into the Contest. On September 15 the raffle will take place and all the pre-qualified Applicants will have the option to win one year’s free mortgage or one year’s free rent.

Here’s how it works. The lucky Winner has the option to purchase a Maisel Presley Condo & we will pay one Year’s Free Mortgage. However, if the Winner decides not to purchase a Maisel Presley Condo, we will give them Free Rent at one of the Developer’s Project’s for one Year!
DON’T MISS YOUR CHANCE ON THIS TRULY AMAZING DEAL, VISIT US TODAY!”

*Kind of gives me the feeling that EVERYONE will “win” this raffle; like the slips of paper you fill out at the mall to win a “free” vacation (actually a timeshare pitch deal for “free”) that, surprisingly, I always “win”.

Put a fork in these clowns..they will taking it up the “arse” soon.

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The main difference is there are plenty of WMDs to be found here(Warlocks of Marketing Doublespeak)that have been effectively terrorizing our citizenry with proclamations of “buy now or be priced out forever”.

No..I look forward to the day CNN shows footage of Marines pulling a filthy, scruffy David Lereah out of an abandoned condo conversion while shining a flashlight into his mouth and holding an article in front of him that quotes him as saying “soft landing”.

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If I were SDRealtor, I might answer this type of “grandstanding” question with another question like “given that transactions are down dramatically over last year, how’s the family doing eating all that Top Ramen?”

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“Re-partments” will likely continue to drop in price in San Diego and Detroit and everywhere for that matter…would not want to be the bagholder there.

Speaking of suburban Detroit, it seems to me that one should be able to get a mansion for $250K out there, not a condo. What’s up with that? (I know some parts are very nice, but $250K for a condo..c’mon) The answer is this must be a classic “bubble”.

Beyond all this…why not rent a place like the one you want to buy for a year and, with the extra money you were going to throw away on PITI, after learning how, go out and buy some PUTS on companies that should suffer as this thing comes crumbling down? You may come out way ahead or you may just break even…who knows?

Good luck to you…God knows we are all in trouble when the market has become so soft without any real shocks to the financial system, eh?

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Here’s one…from North County San Diego in stucco sh*tbox hell-

I don’t remember how I found this one but MLS#066061047 is in 4S Ranch. Zillow says it sold for $855,000 on 1/19/2005. It just went “inactive” on ZipRealty and I presume it sold for the bottom of his range (or lower) which was $825,000. So he lost $30,000 right off the bat. Assuming 6%, or $49,500, paid to real estate agents, plus the carrying costs of at least $5,000 a month (educated guesstimate) for 17 months, I figure this guy’s gonna walk away having lost roughly $164,500 or 20% of his purchase price. Truly a FB, dontcha think?? (All this..despite the fact that they aren’t making any more land and that we all need to buy now or be priced out forever….f*ck these guys-Chamberlin, Greg Smith, “Hezbo-Le”reah, Gin, etc… they belong to the biggest group of opportunistic liars we have ever seen.)

So yeah…I’d be watching 4S Ranch and San Elijo Hills/San Marcos in the coming months and years for some gems of retardation.

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This is great news. An elected official with a tremendous conflict of interest telling me it’s time to go buy a house in San Diego right now…almost makes me want to do it so that I can sue him for treble damages when my house loses 50% of it’s value over the next few years. I will certainly point my friends (who have recently purchased- to my chagrin) towards his comments and encourage them to archive them for when they decide they made a big mistake.

Perhaps this will be the best way for us to get our revenge on the real estate complex…sue each and every one of these stupid bastards who has effectively given unlawful investment advice the last several years.

Boy, would I love to meet this jerk-off at the neighborhood BBQ…it is time to “pants” these guys publicly, now. Like the guy who coaxed Alan Gin out of his grimy little hole, I will enjoy seeing pricks like this guy squirming the next several years.

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