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lonestar2000
Participant“Now, my last question is why aren’t they buying the new homes?”
That one is easy to answer:
* Small lots (people like their BBQ parties)
* High taxes (most older homes have already paid their dues)
* Mello Roos (gotta pay for those new streets/schools)
* HOA (your grass is exactly 2.1 inches!)
* Proximity to neighbors (you can spit and bounce it off three roof tops)
* Track homes (do builders have any imagination left at all?)Take a look at any number of new developments and you’ll see my point.
Participant“Now, my last question is why aren’t they buying the new homes?”
That one is easy to answer:
* Small lots (people like their BBQ parties)
* High taxes (most older homes have already paid their dues)
* Mello Roos (gotta pay for those new streets/schools)
* HOA (your grass is exactly 2.1 inches!)
* Proximity to neighbors (you can spit and bounce it off three roof tops)
* Track homes (do builders have any imagination left at all?)Take a look at any number of new developments and you’ll see my point.
Participant“Now, my last question is why aren’t they buying the new homes?”
That one is easy to answer:
* Small lots (people like their BBQ parties)
* High taxes (most older homes have already paid their dues)
* Mello Roos (gotta pay for those new streets/schools)
* HOA (your grass is exactly 2.1 inches!)
* Proximity to neighbors (you can spit and bounce it off three roof tops)
* Track homes (do builders have any imagination left at all?)Take a look at any number of new developments and you’ll see my point.
Participant“Now, my last question is why aren’t they buying the new homes?”
That one is easy to answer:
* Small lots (people like their BBQ parties)
* High taxes (most older homes have already paid their dues)
* Mello Roos (gotta pay for those new streets/schools)
* HOA (your grass is exactly 2.1 inches!)
* Proximity to neighbors (you can spit and bounce it off three roof tops)
* Track homes (do builders have any imagination left at all?)Take a look at any number of new developments and you’ll see my point.
ParticipantWow, these homes look nice, I wish we had similar properties in the San Bernardino area. Unfortunately prices on newer homes are still way above reasonable for the area income, although I’m seeing decent declines.
The price drop on the first linked property is nearly $200k, not bad if you ask me, but whether it will drop futher, and by how much, is not easy to gauge. My gut feeling is, that there are many more like you sitting on the sidelines, ready to catch the falling knife, and if the numbers add up you may just want to catch one sooner or later.
I’m not saying I see any particular bottom in sight, but considering your situation (being forced out of your rental) it may just be in your interest to start making some offers on a few of these properties. With the Christmas/winter season upon us there will be even less buyers in the market, so your bargaining powers are at a premium right now. Come spring, you’re going to start seeing increased competition, and if you MUST be out by Februray then now sounds like a good time to get into the game.
ParticipantWow, these homes look nice, I wish we had similar properties in the San Bernardino area. Unfortunately prices on newer homes are still way above reasonable for the area income, although I’m seeing decent declines.
The price drop on the first linked property is nearly $200k, not bad if you ask me, but whether it will drop futher, and by how much, is not easy to gauge. My gut feeling is, that there are many more like you sitting on the sidelines, ready to catch the falling knife, and if the numbers add up you may just want to catch one sooner or later.
I’m not saying I see any particular bottom in sight, but considering your situation (being forced out of your rental) it may just be in your interest to start making some offers on a few of these properties. With the Christmas/winter season upon us there will be even less buyers in the market, so your bargaining powers are at a premium right now. Come spring, you’re going to start seeing increased competition, and if you MUST be out by Februray then now sounds like a good time to get into the game.
ParticipantWow, these homes look nice, I wish we had similar properties in the San Bernardino area. Unfortunately prices on newer homes are still way above reasonable for the area income, although I’m seeing decent declines.
The price drop on the first linked property is nearly $200k, not bad if you ask me, but whether it will drop futher, and by how much, is not easy to gauge. My gut feeling is, that there are many more like you sitting on the sidelines, ready to catch the falling knife, and if the numbers add up you may just want to catch one sooner or later.
I’m not saying I see any particular bottom in sight, but considering your situation (being forced out of your rental) it may just be in your interest to start making some offers on a few of these properties. With the Christmas/winter season upon us there will be even less buyers in the market, so your bargaining powers are at a premium right now. Come spring, you’re going to start seeing increased competition, and if you MUST be out by Februray then now sounds like a good time to get into the game.
ParticipantWow, these homes look nice, I wish we had similar properties in the San Bernardino area. Unfortunately prices on newer homes are still way above reasonable for the area income, although I’m seeing decent declines.
The price drop on the first linked property is nearly $200k, not bad if you ask me, but whether it will drop futher, and by how much, is not easy to gauge. My gut feeling is, that there are many more like you sitting on the sidelines, ready to catch the falling knife, and if the numbers add up you may just want to catch one sooner or later.
I’m not saying I see any particular bottom in sight, but considering your situation (being forced out of your rental) it may just be in your interest to start making some offers on a few of these properties. With the Christmas/winter season upon us there will be even less buyers in the market, so your bargaining powers are at a premium right now. Come spring, you’re going to start seeing increased competition, and if you MUST be out by Februray then now sounds like a good time to get into the game.
ParticipantDon’t expect a government bailout in leu of earthquake insruance, just look at New Orleans, people are still waiting for that check.
I agree with the general sentiment of the thread, if you have your own money in the balance and it is an older home, by all means get the insurance. If you bought with 100% financing and the home has newer earthquake avoidance techniques incorporated then you are probably ok without it.
It also matters what the home is built on. Loose sand makes for liquid like movement in an earthquake, not much survives that. In contrast, if the home is built on bedrock it will probably have much more limited movement during an earthquake and has a better chance of surviving intact.
In the end you have to weigh all the pros and cons and decide based on your tolerance of risk…kind of like investing in stocks, climbing rope, quality parachutes, filtered water, condoms, etc. 😛
ParticipantDon’t expect a government bailout in leu of earthquake insruance, just look at New Orleans, people are still waiting for that check.
I agree with the general sentiment of the thread, if you have your own money in the balance and it is an older home, by all means get the insurance. If you bought with 100% financing and the home has newer earthquake avoidance techniques incorporated then you are probably ok without it.
It also matters what the home is built on. Loose sand makes for liquid like movement in an earthquake, not much survives that. In contrast, if the home is built on bedrock it will probably have much more limited movement during an earthquake and has a better chance of surviving intact.
In the end you have to weigh all the pros and cons and decide based on your tolerance of risk…kind of like investing in stocks, climbing rope, quality parachutes, filtered water, condoms, etc. 😛
October 17, 2007 at 12:35 PM in reply to: Ask for disclosures before settling on a final price. #89641ParticipantExcellent comments and observations, thank you!
Also, don’t forget to check/insisit on termite and ground water inspections. Finding mercury in your ground water (which has a way of seepeing into basements/foundations can be expensive/impossible to remedy.October 17, 2007 at 12:35 PM in reply to: Ask for disclosures before settling on a final price. #89648ParticipantExcellent comments and observations, thank you!
Also, don’t forget to check/insisit on termite and ground water inspections. Finding mercury in your ground water (which has a way of seepeing into basements/foundations can be expensive/impossible to remedy.Participant“can you say, “Ponzi Scheme?””
It already has been said, by some Church of God or some such. 😛
Participant“can you say, “Ponzi Scheme?””
It already has been said, by some Church of God or some such. 😛
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