[mixxalot]

Miami and Austin sound great

Anyways, I am fluent in Spanish and have a great time when I party with Latinos as long as they are not the ghetto trash kind that are so common here in Cali or the migrant workers. Nothing against hard working latinos from Mexico who come here for a better life. From what I hear and see thus far there are plenty of well educated Cubans in Miami so thats cool. Yes, I love dancing salsa and good healthy latin food.

Ideally a place in Austin (if I like it there) and a pad in Miami would rock.
Both for what an overpriced place in San Diego cost and have the best of both worlds with coastal living and country/shopping. Right now just saving up my cash and excited about the new job and challenges ahead.

[mixxalot]

Americans have the worst saving habits on planet earth

With that said, I have been saving 50% of my income toward a down payment and hopefully in a few years I can score a great deal on a nice condo or home in San Diego.

Cooking meals and eating out less saves a lot of cash!

I see maybe 2-3 movies a year which saves as well.

I do not drink alcohol except rare times. Saves money.

Heck I even am waiting on a plasma big tv to save until plasma tv prices get a lot cheaper. So far they are dropping in prices. I remember when a 60 inch plasma tv cost 20k. Now a top plasma big 60 inch tv sells for 5-10k.

Cars- people overspend this too. Mine is paid off and yes its a BMW but still not bad to maintain every year. I want a new one but thats to wait several years as well. Once loans default people will probably sell their Lexus and BMW at fire sale prices to pay off their home to avoid losses.

[mixxalot]

Someone mentioned Denver, and that is a United hub, so it might also cut down wasted time, although I seem to recall the airport itself, is WAYYYY outside of town.

Yes- I have heard that about Denver. Same with San Francisco and the SFO airport is a long drive between. Dallas may work well. I’ve never seen either Denver nor Dallas so a trip will make it interesting.

How about Utah? Whats it like compared to Denver?

If I were rich I would have an ocean front condo in Miami and party up with latinas on weekends since I love salsa dancing.

[mixxalot]

Yeah 250k-350k is my price limit. I dont make enough to afford 700k+ for a home.

I pay 1k a month for an apartment close to the beach. With my hectic travel schedule moving would be tough at this point. I will wait 5 years and sock cash away into CD accounts.

1990 again will be divine for us first time wise home buyers. Doom for fools and evil greedy swine speculators.

[mixxalot]

Addicted to San Diego and southern California weather

Thanks you folks are great! I am thinking of just renting here for the next year or so until I visit new places. I love San Diego in spite of 4 dollar gas and sky high prices! Mt. Helix is great and will have to check out the areas (Windsor Hills, Eastridge, Serramar) that you mention. Do you by chance have any links to builders or homes for sale in these areas?

One thing I have noticed in Point Loma: prices are dropping! I saw one place listed six months ago for 600k that now lists for 500k! So it is going to be a good time to buy in a couple years. I might just park my cash in CDs for now until the market bottoms out.

Rain sucks otherwise I would live in Washington state or Oregon- both places are gorgeous and friendly people and cheap but I am not a fan of 200 days per year of downpour. Humidity would be a pain but if it is only a few days per year than I can deal with it. Bugs- yuck! Not sure about massive roaches and bugs in Florida. Texas has chiggers nasty bugs that cause disease and sores.

The irony is that I grew up in New England and dealt ok with snow and cold as a kid but we moved to northern California when I was 12 and been in California since so the mediterranean climate has permanently affected me.

I do like Colorado but the cold and snow would be a pain to deal with.
Guess I would have to spend time in winter there on a project to see if I could hang with it. The hiking and outdoor sports would be great and tons of hot single women help.

Right now- besides California top picks to visit are Virginia Beach and Fort Collins, Colorado. If I can hang with cold then Fort Collins looks nice. Maybe a summer home? Rent a room in San Diego until prices drop and then have primary residence in Colorado or Virginia may work well. My parents already told me they would put a home on their land for me to crash at. Once thats ready I am thinking to spend winter their and maybe jet to a small home in Colorado or Virginia for spring and summer unless I go skiing in winter.

Wait for San Diego to fall then buy.

[mixxalot]

I like what I see from Virginia Beach, VA and there is a lot of work for government tech market!! That and much cheaper than San Diego!!

Will make a trip hopefully soon to Virginia, Florida and Raleigh, NC.

Right now these are my top 3 picks for future home purchase and residence as long as work goes well as a traveling computer consultant!

Also check out Tennessee and no, I dont care much for Atlanta. Myrtle Beach sounds nice though.

[mixxalot]

Humidity and I do not mix well. Freezing cold weather and I do not mix well. I will skip Vegas. I admit- since living here in San Diego for almost past 4 years, I’ve been spoiled by the great weather. I probably can get used to humidity with good AC and a swimming pool. I hear that northern panhandle part of Florida- Jacksonville, Clearwater, Gainsville are great towns if you can deal with giant bugs and humid weather and storms.

At this point, I have some time to think about it. I like a good cosmopolitan city with excellent nightlife, restaurants and shopping. I did like Portland and coastal Oregon a lot when I worked up there years ago.

I have heard a lot of really really bad things about the cops in Texas as being dirty and corrupt. So thats not good. I do hear good things about Austin though.

Thanks for the tips on Vegas- will skip it as place to buy- okay to visit I guess.

Looking in San Diego- I predict that areas like La Mesa will become much more affordable. I actually like La Mesa area a lot near SDSU college.

I might wait out this bubble and buy there near Mt. Helix. I have a friend who cannot sell her place for what she wants. May score a deal if she cannot sell it.

Thanks for the great tips! Might still just build home on my parents land in Oroville in save ton of cash for the crash.

Does anyone know how to appraise a 2 acre plot of land with a new home built on it? Do agents use comps for the local area to appraise property that has a home built on it?

[mixxalot]

Thanks folks- I have a year to think about it.

What about Vegas? Great for a young single guy with lots of clubs restaurants and stuff to do. No taxes and cheaper than San Diego and close enough to everything.

[mixxalot]

Texas sounds good. I will have to make some visits. Austin does have a decent economy and WAY cheaper than San Diego.

I should know in a year or so once work firms up at the new job.

Thinking of Vegas too which is half price of San Diego in spite of the boom that Vegas had it did go down.

[mixxalot]

Too funny, ROTFL!
Well I agree. For me, my parents gave me 2 acres of land near Chico up north and so I can put a 3 bedroom modular home on it for 100k and not have a big mortgage payment. If I can keep doing the travel consulting work thats key.

San Diego needs a major crash in real estate before I can stomach a purchase here.

[mixxalot]

Gas spikes above 3 bucks will definitely hurt all those folks commuting from Temecula and North County to San Diego! That Italian meal will cost 35 bucks.

Best to cook own meals and live close to work.

[mixxalot]

Bubbles and value

Well the key is to find a job where you can work from home or travel. That way find a cheap town and place to buy land and build a home. I dont want to throw my cash away.

[mixxalot]

I agree- CPA is much tougher and more respected than used car sales people ahem most realtors and mortgage con artists these days.

Congrats- I am thinking of doing my MBA in finance/accounting and study for CPA to enhance my career prospects. Its a good career path and pays quite well.

A CPA with a law degree is powerful combination for business!!!

[mixxalot]

Yeehaw!! This is WHAT must happen to correct the inflated market.

When we have people going back to basics and saving up with 20 % downpayment then prices will come back to normal.

I cannot wait for the credit bubble to deflate so that I can afford a home with a normal fixed rate loan and at a decent price. To me, San Diego homes should cost no more than 300k in most areas and even ocean front property is not worth 2-5 million either.

[mixxalot]

The costly maintenance I’m referring to are timing belts, tranny, clutch if you drive manual, electrical, suspension, braking system, cooling system. God forbid, if your cooling system fail and you didn’t notice it for 5-10 minute, then you’re talking about damage to your head, or even warped block. Those things can add up to 5-10k in repair easily if you have to do all those repair. Those expenses, I did not add to the price comparison. Even w/out it, the difference is around $60-$70/month. That’s a dinner at a nice restaurant for 2. You’re arguing about semantics but you’re missing the big picture.

In the long run, there may not be much difference. But thats if you plan to keep the used BMW for like over 10 years or so.

However, insurance and vehicle registration costs are much higher on a brand new BMW than a used one. That and the interest that you will pay to finance a new BMW cost more than to maintain a used one that has been well maintained. Thats the key. Few people have 50 grand to pay cash outright on a new car!

Case in point:
I own a 1996 BMW 328is with 92k miles. Bought used with 55k miles for 13k.
Now it has 92k miles. I have done all maintenance. Costs me 3k a year on maintenance (belts, hoses, service, oil changes). Good points on maintenance- do it or the car will eat you alive. I take mine to Cunningham.

I have spent 5k over past 3 years to keep my car in shape. Suspension, coolant, brakes, etc. Yes, it is expensive but still cheaper than a new one.

Now if I paid 46k for a new BMW 3 series, that would cost me 60k over 4 years with finance and interest and additional insurance/registration costs.

My 13k BMW would cost me 13k plus 20k over 4 years for maintenance. So it really is WAY cheaper about 28k cheaper over 4 years to keep up the used BMW. And its paid for.

Yes- the new ones are very nice and much faster but I cannot deal with 1500 monthly payments just to have a brand new one. In fact, my next car may be a new Hyundai Sonata for 17k with a 10 year warranty. Thats a good deal for a new car!

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