Forum Replies Created
-
AuthorPosts
-
mydogsarelazy
ParticipantThere are still places in SoCal where things are selling well.
A relative of mine sold a home last month in Hidden Hills/Calabasas for full price — $2.2mil — in about 15 days.
JS
ParticipantThere are still places in SoCal where things are selling well.
A relative of mine sold a home last month in Hidden Hills/Calabasas for full price — $2.2mil — in about 15 days.
JS
ParticipantTwo of the three situations profiled in the show last night had to do with families who had purchased new homes without selling their existing homes. The desperation portrayed was painful, but what blew my mind is that one of the success stories involved a woman who got an offer one day after having her home totally gone over by a feng-shui expert.
Yes, this show adjusts real estate reality in a new direction…
ParticipantI guess that waiting and seeing would be the way to go. I found a “cabin” just under 1,000 sq feet listed in Julian, and it is listed for $299k.
Interesting that both Julian and Big Bear were threatened by fires this past week. That gives me pause. Wonder if people in those areas can get good fire insurance?
JS
ParticipantJust needed to reply to that comment about big homes being inefficient.
We have 2700 sq feet — A KB Home finished 3 years ago — with double paned vinyl windows and extra insulation panels in the roof.
Our electric bill last month, with air-conditioning set at 77 was $315.00.
This house is more efficient, and has a lower power bill than my previous home in Hemet which was around 1700 square feet.
JS
ParticipantHi Cashman,
Since I live ten minutes from Elsinore — in Murrieta — I want to get you to consider looking a bit further south.
If you have kids, you want to be in Murrieta or Temecula for the better schools. Also, the Costco/Lowes/Home Depot complex is helpful, but you would end up at Temecula Mall for the restaurants sooner or later. Temecula is the world capital of chain restaurants.
I would think that you could get some really good deals in these areas as prices fall. How about checking out the repos at Harveston, or seeing what kind of bargains Lennar is offering over there?
My personal “avoid” list includes Elsinore (sorry about that) Menifee (weak schools, one sheriff for the whole area)
and French Valley (good if you are in prison or have a private plane though).Wildomar has some pretty areas, but it won’t be a city for awhile.Why do I say to avoid Elsinore? I am a teacher, last semester one of my students came to an evening class two hours late and told me “Sorry I am late, but I live in Elsinore and a SWAT Team had closed the street to deal with a guy holed up in the 7-Eleven.”
Happy home shopping.
JS
ParticipantI think what essentially happened is that the bubble exaggerated the economic differences between different age groups.
My wife and I both sold properties at good moments. She sold her house for three times what she paid for it, and I sold my weekend home for six times what I had paid for it. So, we are going to be fine financially.
But what about my nephew who earns $90k, is newly married and lives in San Luis Opisbo? Or my niece who with her fiance has an income over $100k but lives in the Bay Area? They are renters and are quite concerned about when, if ever, they might be owners.
People that have owned for awhile are in great shape, maybe better than ever if they hadn’t taken money out of their homes, but young people are just dazed. They are thinking “timing, timing, timing” like no generation before them.
JS
ParticipantMy wife has a close friend among among the editors at the UT.
One editor calls the Union Tribune a “Velvet Coffin.” In other words, nobody ever gets fired.
JS
ParticipantI don’t know about the 1s but the prices will certainly head down.
KB Home is of course partnered with Countrywide for financing, so we know who holds most of those loans.
Shouldn’t Bruce Karatz — the KB prez who left with over 130 million — and Angelo Mozillo be paying to water those lawns?
JS
ParticipantHi JES,
My thought is that if she times the market well — and doing that is tough I know — that she can pay the lowest possible price. Yes, that involves debt, but of a kind she seems interested in taking on secured debt within reason.
Looking at this from the perspective of a 50 year old, investing in property is the only thing that has ever substantially increased my net worth. I know that the era ahead is going to be tricky, but that is still how I see things.
When I was in my 30’s I had way too much unsecured debt. That was a nightmare.
JS
ParticipantHi JES,
My thought is that if she times the market well — and doing that is tough I know — that she can pay the lowest possible price. Yes, that involves debt, but of a kind she seems interested in taking on secured debt within reason.
Looking at this from the perspective of a 50 year old, investing in property is the only thing that has ever substantially increased my net worth. I know that the era ahead is going to be tricky, but that is still how I see things.
When I was in my 30’s I had way too much unsecured debt. That was a nightmare.
JS
ParticipantHi JES,
My thought is that if she times the market well — and doing that is tough I know — that she can pay the lowest possible price. Yes, that involves debt, but of a kind she seems interested in taking on secured debt within reason.
Looking at this from the perspective of a 50 year old, investing in property is the only thing that has ever substantially increased my net worth. I know that the era ahead is going to be tricky, but that is still how I see things.
When I was in my 30’s I had way too much unsecured debt. That was a nightmare.
JS
ParticipantI am not the typical piggintonian, but I can’t resist giving you a piece of advice.
First off all, don’t focus so much on building savings. I would say that you main focus should be avoiding debt. Seriously, debt is what will paralyze you financially. If you have any, work it down as best you can. Buy only used cars for cash, etc.
I see nothing wrong, when home values are lower, with buying a home with little or nothing down.
JS
ParticipantI am not the typical piggintonian, but I can’t resist giving you a piece of advice.
First off all, don’t focus so much on building savings. I would say that you main focus should be avoiding debt. Seriously, debt is what will paralyze you financially. If you have any, work it down as best you can. Buy only used cars for cash, etc.
I see nothing wrong, when home values are lower, with buying a home with little or nothing down.
JS
-
AuthorPosts
