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mgubnyc1
ParticipantI know exactly how you feel Temeculaguy, now seeing as you are still procrastinating as I am, hopefully only until sometime in 2008 but before 2009, how much do you think that 2000-2200sqft detached 3br 3bth in a nice assocation maintained envoirment will fall to?
This seems like a great rental investment property, at what price range is something like this a bargin and time to snap them up?ParticipantI know exactly how you feel Temeculaguy, now seeing as you are still procrastinating as I am, hopefully only until sometime in 2008 but before 2009, how much do you think that 2000-2200sqft detached 3br 3bth in a nice assocation maintained envoirment will fall to?
This seems like a great rental investment property, at what price range is something like this a bargin and time to snap them up?ParticipantAcually WOW!!! there are over 6,000 listings on the MLS for the Temecula/Murrieta area!!!
is this what a realestate bubble looks like? if not then, I wonder what one looks like~!
ParticipantJust based on the amount of homes available for sale and that will be coming onto the market in the Temecula/Murrieta area, you will see 4,000 sq ft homes selling for under $300,000.
I wouldn’t be surprised if several are sold with pools or a 100K worth of upgrades.
Please correct me if I’m wrong but I think just between Temecula and Murrieta alone there are over 4,000 re-sale homes available at this very moment, not to mention the hundreds of homes the builders have available. Based on this and the fact that more homes are coming to market everyday, once the banks decide they have held onto their repo’s long enough and are ready to take the hit, they will price them to sale all hell is going to break loose and you will pick up 4,000 sq ft homes with pool’s and granite kitchen’s for 300K.
In regards to the Temecula and surrounding area’s you haven’t seen nothing yet!!! the best is still to come.ParticipantKev is Right! Probably because the American dollar and the Canadian dollar are par! Our goverment is trying to bail out billions in risky mortgages so there bank buddies don’t lose. This sucks and its only going to get worse.
Isn’t this what Japan tried to do 10 or 12 years ago when there realestate crashed, didn’t they reduce there rates to 0 but still had no effect!
What would have happened if they had raised rates?
I would raise rates in the USA, I would rather have a strong dollar then a temporary jump in the stock market.September 18, 2007 at 9:52 PM in reply to: How to protect against massive inflation and upcoming fall of dollar #85130ParticipantI would ask for Canadian dollars, I know for a fact the Canadians are about to invade the USA. You see once the US dollar falls below .50 per Canadian dollar, (sometime before the end of the week) the canucks will pull a very hostile takeover one like wall street has never seen before and in the end when the dust settles there will be a new country, they will call it CanAm. The good thing will be everyone will have free health care, the bad thing will be gas will be 8.00 a gallon.
September 18, 2007 at 9:26 PM in reply to: How to protect against massive inflation and upcoming fall of dollar #85119ParticipantYes, you had better sell everything, house, car T.V, computer etc… then move all that cash to gold bullion, and you had better hurray because you only about 48 hours until all that cash is worthless. I then strongly suggest you take hike into the N.M dessert and hide out in a canyon with all your other DOOM AND GLOOM buddies and wait out the fall of the U.S.A. When its all over you can trade all of your bullion for a nice house right on the ocean in SD. Dick!
Participantso, the problem is this! after paying this $4,000 a month payment (this is only the mortgage and prop tax payment) for a few months it gets old and they get tired of the pool and they get tired of the pool table, all the other bills keep coming in and it starts to seem like the monthly bills come in faster and faster and they fall behind in their payments. Answer to the problem, simple our fearless leader George W Bush will come to their rescue with our tax dollars and subsidize these families so they can continue to live above their means. Isn’t america a GREAT country.
I refuse to accept this, I do not want to subsidize these overspending over indulging idiots just so the mortgage companies and banks that gave them the loans won’t have thousands of defaults, isn’t that was this is really about George?
Participantnewguy, I didn’t mean to offend you, I am sorry!
But still come on, a family trying to support even 1 child and a 200K mortgage with even 1 car, with small payments is almost imposible. I know because I was in that situation, it’s not fun and as a matter of fact my mortgage was only 165K, granted it was at 7.25% it was hard and I wouldn’t do it again ESPECIALLY IN A DOWNWARD HOUSING MARKET!!
MGU
August 30, 2007 at 11:33 PM in reply to: cannot wait anymore, buying a condo now instead of a house at 4S Ranch, and wait to buy a bigger house later? #82727Participantwanttobuy! then buy, we gave you constructive suggestions, you don’t like them, so buy!
hey by the way, I have a bridge for sale with a tole booth and its just off the 95 tpike going into N.Y.C would you like to buy it? I’ll give you a good deal, as you don’t have any dept, have cash and decent savings your a perfect mark!Participantunless you could find a sucker to buy your house at an inflated price, seems there are still lots of these buyers around
August 30, 2007 at 11:23 PM in reply to: cannot wait anymore, buying a condo now instead of a house at 4S Ranch, and wait to buy a bigger house later? #82718Participantseeing as George is going to have me help this dude pay his mortgage soon, for god sakes someone has to tell it like it is!! oh unless your a realtor and you need the money! they just tell them what they want to hear.
Participantpersonally I don’t people didn’t see this bubble, if you couldn’t see this bubble 6 months to a year before it burst, you are blind.
One thing for sure, I’m not a real-estate expert. when I lived in Murrieta and I saw my neighbor put 70K into his back yard, 25K in land scaping 40K in furniture from Ashleys on the 14 month no payment no intrest then buy a Hummer as a 3rd car!! I took a good look around me and saw alot of the same spending going on. I realized my neighbors were only blue collar at best and no way they could afford this, I took a que from my POT smoking who sold his house to a drug dealer, so I sold my house for over 700K to a FUCKEN PAINTER!!!!!!!!!! who took a Mortage for over 680K and got the fuck out!
now i’m renting on the east coast with lots of cah waiting to get back in, don’t get me wrong I haven’t rented a house for the past 17 years, but now is the time to rent.
CASH IS KING!!!! and will be for a whilecome on logic or stupid
August 30, 2007 at 10:47 PM in reply to: cannot wait anymore, buying a condo now instead of a house at 4S Ranch, and wait to buy a bigger house later? #82704ParticipantI WAS SERIOUS, if anyone gives you a number, there full of shit, no one knows!! all we know for sure is that prices in San Diego are coming down, how far how quick, you could only speculate. the point is prices are on a downward trend.
if you want to pay thousands more then you would 5 months from now then go ahead.
AMAZING even as prices are coming down people want to buy, for some reason they still think ” if i don’t buy now I’ll never be able to”
hold on there are so many homes and condo’s going into repo, in a 3 to 6 months prices will only be lower in San Diego, especially condo’s & THATS A FACT!!!
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