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after they raised the speed limit too… Anyone know if that is true?

Yes, but not for the reason you think. It’s speed gradient that is the problem.

We raised the speed limit, but didn’t change the minimum, and even worse, officially have a significantly slower speed for semi-trucks and vehicles with trailers.

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FSD, baloney. So me the stats that show non-home owners have substantially less income.

Median income is the appropriate comparison because it tells you where the middle of the pile is. Similarly, median home price shows you where the middle of the home pile is.

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Santee is a high income zone. 🙂

Chalk it up to the median math. The median county wide will be $250,000. That means places like La Jolla hypotethically are still $700K, Santee is $350K and National City are $150K. Keep in mind the median is a mix of condos, SFHs, townhouses including both the good and bad areas.

Santee has a 2005 median household (family) income of $73.8K

San Diego (City) is lower at $62.1K

San Diego County is a little higher at $64.3K

National city lower still at approx $41K

At least to the local Association of Governments.

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Anybody find any updates on the Bressi Ranch auction or subsequent sales? I’m not seeing anything on UT or SOSD.

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Argh, she bought an apartment conversion for $394,000.

The conversion is only half done… Another 190 units to go.

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Is $1200 for 600 sq ft 1 bedroom sustainable in UTC?

Or is $1200 the current rate because so many units have come off the market on conversions?

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At $250,000, with a 6% loan and 10% down, the annual PITI is just above the recommended 30% of income guideline.

So basically, yes, that’s the point, at current income levels (which are currently inflated by home bubble profits), cutting the current median in half, just barely makes it affordable if the present very low loan rates remain.

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At this point, it looks like we’re 50% through.

Given that it takes 3-6 months before the bank will NOD you and probably another 0-6 months before you can’t make the payments anymore, you get lag of approximately a year from reset to NOD.

With that as a default lag we’ve likely only seen the first 10% which means over the next 6-9 months, we may see as much as a 400% increase in NODs.

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The most recent sale, 1 block away, is a unit only 10 years old with brand new roof and a larger garage, also a corner lot, but smaller (1575 sq ft). Final list price was $440K – $470K

Well, the canary will sing when the numbers post. Hopefully the holder got $400 or more. At $400, they’re only 10% below asking price, a real possibility in today’s market.

The slightly larger place adds some, but that’s partially cancelled by the new roof and garage.

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What are the interest rates and fees for the above loans?

What’s the rate on a 100% Stated/Stated witha 620?

Or the rate on the 100% No Doc with a 680?

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As a side note, in the OC Register on Sunday, there was a little excerpt on the Real Estate licensing exam.

They still have to rent out the convention center to do it, but of more interest was the flat stats:

1 in every 50 Californians is licensed for Real Estate.

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Wow, that’s confusing to beat everything. #3 is 1st, #1 is 3rd, #2 is 2nd.

#1 listed in February, so I think #1 is #3 because #1 last and #3 is first and #2 listed in August and that’s after February.

Now Who, who’s on first. What’s on third …

Care to clean that up a bit PS, maybe making #1 the first seller (lister), #2, 2nd, #3 the 3rd.

While #2 may not think they’re in the price war, their boat has already been torpedoed.

As a side note, I was cruising through a neighborhood by my house last night. Previously 3 homes were for sale, $1.595M, $1.55M and one $1.495M (M as in Million). All are 3 or 4 Bed 3+ baths.)

One is listed for sale still the $1.595M. One is listed sale or lease, one is lease only at $3900/month and one new is lease for $3400/month. Three of the four are vacant.

Now really, who rents out $1.5 million dollar home long term? And if you think it is worth $1.5M, how do you rationalize getting only $45,000.

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PD, you forgot, take off those shoes. Get yerself preggers…

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Sounds like WD and garage which is a tough order as you’re basically renting someone’s townhome or older SFR.

Clairemont to El Cajon seems like a really big swing area.

Since she’s month to month, her best bet is to continue looking now, and lock a place when she finds the deal. I wouldn’t want to do that kind of search on a short timeframe.

I’m assuming she settled on a place that was fixed fairly nice? Probably put her rent around two.

That’s probably the most disconcerting for people returning to rentals is the looked of ‘used-ness’ to places. Particularly if they’ve been dealing with the immaculately dressed homes that have been selling lately.

For example, in HB, two bed-two bath places fall into the following categories:

Livable: $1200-$1400
Okay: $1400-$1600
Nice: $1600-$1800
Nice+: $1800+ (plus being dual masters, garage, etc.)

IMHO, YMMV. What I’ve found with most of the people I know as I get older is our requirement goes from Liveable to Nice or Nice+.

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You still need to tell us what you’re looking for, if your friend has been a home owner, then she isn’t used to the rental market. She may have a bit of adjusting to do.

As for prices being up, they are all over the map. You can find plenty of inexpensive places to rent, if you don’t like them, you’ll pay more for a nicer place.

Kind of like paying more for a new car.

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