[pczonie]

Thanks again, SD Realtor, for you polite and useful comments. Just to note however, the 4 houses on Sequoia all sold recently. I’m wondering if in the future I will be able to find new construction again at (hopefully) post bubble deflation prices on such a nice street. I guess other older homes could be bought out by some developer at the lower prices several years later, torn down and similar construction could occur at more reasonable prices. I was both disappointed when they sold and at the same time happy that I didn’t buy because of the snowballing problems with housing, especially in SD.

[pczonie]

Thanks again, SD Realtor, for you polite and useful comments. Just to note however, the 4 houses on Sequoia all sold recently. I’m wondering if in the future I will be able to find new construction again at (hopefully) post bubble deflation prices on such a nice street. I guess other older homes could be bought out by some developer at the lower prices several years later, torn down and similar construction could occur at more reasonable prices. I was both disappointed when they sold and at the same time happy that I didn’t buy because of the snowballing problems with housing, especially in SD.

[pczonie]

Thank you both for your comments and the link to sdlookup. I will certainly take your advice.

[pczonie]

Thank you both for your comments and the link to sdlookup. I will certainly take your advice.

[pczonie]

Thanks to all of you for the good advice and well thought out answers. I needed a good slap in the face to bring me back to reality. We’re just tired of renting and it was a moment of weakness. One more question. In the previous bubble did the beach and bayside property also depreciate as far as the list prices or did they just “stagnate” until inflation caught up with the bubble prices?

[pczonie]

Thanks to all of you for the good advice and well thought out answers. I needed a good slap in the face to bring me back to reality. We’re just tired of renting and it was a moment of weakness. One more question. In the previous bubble did the beach and bayside property also depreciate as far as the list prices or did they just “stagnate” until inflation caught up with the bubble prices?

[pczonie]

Hi! I’m new to this forum but have been lurking for a while. Would appreciate your thoughts on our situation. We are from Arizona and are looking for a vacation home in S.D. (Its 106 degrees in AZ). We looked at the above property and we actually like it alot- enough to have placed a bid in June. Negotiations stalled and we decided to wait as there were 4 houses of the same plan with only one “sold” in escrow but with a contingincy to sell their house. Incidentally, the buyer is a friend of the seller.
Suddenly, over the weekend two of the houses sold and are in escrow and the only one left is the one we like.
I know this is a terrible time to buy and am fully aware of the bubble. However, we haven’t found anything else that we like so much and also love the location and street. Financially, we would be able to put down 30% and the monthly payment would not strain our budget.
The question is should we bite the bullet and get what we want or should we wait for the market to fall further and risk losing the home? Also, how likely is it that two of these homes would sell so quickly in today’s market?
I have been reading alot of the discussions on this forum and respect your opinions. Thanks.

[pczonie]

Hi! I’m new to this forum but have been lurking for a while. Would appreciate your thoughts on our situation. We are from Arizona and are looking for a vacation home in S.D. (Its 106 degrees in AZ). We looked at the above property and we actually like it alot- enough to have placed a bid in June. Negotiations stalled and we decided to wait as there were 4 houses of the same plan with only one “sold” in escrow but with a contingincy to sell their house. Incidentally, the buyer is a friend of the seller.
Suddenly, over the weekend two of the houses sold and are in escrow and the only one left is the one we like.
I know this is a terrible time to buy and am fully aware of the bubble. However, we haven’t found anything else that we like so much and also love the location and street. Financially, we would be able to put down 30% and the monthly payment would not strain our budget.
The question is should we bite the bullet and get what we want or should we wait for the market to fall further and risk losing the home? Also, how likely is it that two of these homes would sell so quickly in today’s market?
I have been reading alot of the discussions on this forum and respect your opinions. Thanks.

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