[ocrenter]

excuse my lateness as I just came across this thread now.

the question for George is a simple one,

the county record shows the sale of his condo was $705,000,
the MLS shows the sale at $555,000,
the buyer of his condo happens to be a developer,
no one in the history of that complex has ever sold for above $573,000 for the same unit,

so please explain why the county record shows $705,000?

there’s no need for a public forum to debate this. he just need to give us some clarifications. maybe all this is is an honest mistake by a clerk at the county.

[ocrenter]

the Chinese are coming…
the Chinese are coming…
the Chinese are coming…

good grief.

what proportion of your average Asian buyer in SoCal are really foreign buyers using $RMB, Won, Yen, or $NT?

the vast majority of your “Chinese invasion” is really Asian Americans with their American jobs getting paid $US dollar. The drive to live in good school districts, the drive to outcompeting fellow Korean or fellow Taiwanese or fellow Chinese, and the desire to live in areas with lots of Asian food choices cause the clustering that you see there in Diamond Bar/Rowland heights/HH.

And in general there is a strong desire for homeownership, so you will get a lot of Asian buyers still ignoring the bubble and jumping in. They will pay for their mistake. Just like everybody else that have caught the falling knife. It’ll just occur SLOWER. But fall they will.

and for the record, renting does sux, but it beats losing $200k in equity in 1-2 years!

[ocrenter]

thanks ex-SD for the link.

we are so close to 2003 prices I can taste it!

remember folks, it was all just a false spike, real RE up and down cycles don’t look like this.

[ocrenter]

raptorduck,

I second the renting idea. Rent where you are most likely to want to live. Get the wife and the kids familiar with the area. After a year the whole family can make the decision together as to where is the best spot for that permanent family home. (it doesn’t hurt that prices would be quite a bit lower in a year compared to now either).

when we first moved from OC to SD, everything looked great, the idea that a 3700 sqft golf course home can be had for $650,000 was unreal (was in Valley Center). good thing we rented because we can’t imagine being trapped in Valley Center for the next 15 years. A bit different than your situation, but similar idea.

[ocrenter]

i don’t know what asphalt costs these days, but seems like they should have it covered for those kind of fees.

according the the amount of mello roos they charge now compared to 2002, the price of asphalt should have increased by at least 2-3x.

[ocrenter]

sdcellar, you mean that apartment at the end of paseo del sur (on your left hand side as you drive west on Camino del Norte) is actually section 8?

BMIT posts on Del Sur

[ocrenter]

SDR, this is one of the developments out there that will have a real possibility of builders changing plans mid-stream and down size to 2500 sqft homes on smaller lots to push sales. (if the zoning allow for it)

[ocrenter]

SD Realtor, yup, stonebridge is so toast. did you ever get a chance to see the master plan map? one of the developments Calabria is only on phase 3 of a planned 12-15 phases. The 4000-5000 sqft homes sold for as much as 1.8 million in phase 1, recently I have seen 5000 sqft models going for $1 million flat on ziprealty.

[ocrenter]

note: I just provided a link to poway seller’s latest article in my post. I echo the sentiment she expressed in her post.

here’s the link: http://www.californiahousingforecast.com/commentary/mortgage-rates-headed-higher-as-dollar-is-devalued.html

[ocrenter]

just do it yourself, I have all the tools a San Diegan need to dig things up.

this is a great site that gives sales price and organized by zip code and streets
http://users.ixpres.com/~gtriphan/

then use zillow or domania to find sqft information
if unable, try the county assessor
http://arcc.co.san-diego.ca.us/services/propsales/propsales_search.aspx

let me know if you do decide to start one, I’ll link you up!

if anyone what to start a Vegas site, here’s the link to a site that has owner info, pricing, and sqft.
http://gisgate.co.clark.nv.us/openweb/asp/openweb.asp

[ocrenter]

maybe work out something where you’ll still be represented by the same agency but by a different agent. so if the home do sell the current agent still gets a cut for work already done.

[ocrenter]

not to brag, but just find it a little funny…

if you google “stanpac mission possible”, the top two links go directly to related BMIT posts.

if you google “standard pacific mission possible”, the fifth and sixth links also go directly to BMIT, the seventh link goes to the LA Times article.

[ocrenter]

“Where do people get this kind of money?”

two sources, either trading up with profit from prior sale, or lax lending.

I wonder if SD/sd realtors and bugs can look into these prior sales and see how these were financed.

would this be a good example of the effect after the credit crunch?

[ocrenter]

Travaille (plan 2)
–homesite 27, 4,948 sqft, on 12,391 sqft lot. Including $131,670 in options and upgrades. asking price: $1,299,000.
–homesite 30, 4,689 sqft, on 13,836 sqft lot. Including $109,870 in options and upgrades. asking price: $1,395,000.

–15621 Rising River Place North (plan 2), sold $1.69 million in 12/2006.
–15626 Rising River Place North (plan 2), sold $1.49 million in 04/2007.
–15558 Rising River Place South (plan 2), sold $1.77 million in 04/2007.

[ocrenter]

but quite a bit of these homeowners ALREADY robbed the banks with their cash back at purchase from inflated appraisals.

[Author]

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