[pemeliza]

Hey cape in the last what 8 years the federal government racked up close to a 10 trillion dollar debt that they have no intention of repaying. Social security, endless wars, nationalized healthcare? No problem, pass a law to raise the debt ceiling to 100 trillion and move on.

I guess I wouldn’t have to print money either if I had a credit card with an unlimited balance that I never had to repay.

[pemeliza]

Hey cape in the last what 8 years the federal government racked up close to a 10 trillion dollar debt that they have no intention of repaying. Social security, endless wars, nationalized healthcare? No problem, pass a law to raise the debt ceiling to 100 trillion and move on.

I guess I wouldn’t have to print money either if I had a credit card with an unlimited balance that I never had to repay.

[pemeliza]

Hey cape in the last what 8 years the federal government racked up close to a 10 trillion dollar debt that they have no intention of repaying. Social security, endless wars, nationalized healthcare? No problem, pass a law to raise the debt ceiling to 100 trillion and move on.

I guess I wouldn’t have to print money either if I had a credit card with an unlimited balance that I never had to repay.

[pemeliza]

“The problem becomes much more unpredictable, especially when those with large reserves start to get involved.”

They are involved. Cash or close to cash transactions seem to be the norm nowadays on the best coastal properties with the best schools. While there have been a few good deals struck on the coast for most of us they are an illusion because we didn’t honestly have much of a shot at buying them. That’s why the normal sellers are holding firm. They know that some buyer is going to get tired of playing games with the banks and come looking for something they can actually buy.

Ten years ago folks that got priced out of Carmel Valley, Del Mar and La Jolla had the option of buying in the sleepy towns called Carlsbad and Encinitas. Those that took the risk and bought up north have now been substantially rewarded as these areas have IMHO now become premier areas to live and most owners have deep equity positions.

Instead of asking the question of what are good affordable areas that have perhaps not yet been discovered, most people on this board seem obsessed with hoping the train comes back to the station. Once the rich folks get involved the train rarely makes a second pass. I have seen this happen with countless areas around the country.

[pemeliza]

“The problem becomes much more unpredictable, especially when those with large reserves start to get involved.”

They are involved. Cash or close to cash transactions seem to be the norm nowadays on the best coastal properties with the best schools. While there have been a few good deals struck on the coast for most of us they are an illusion because we didn’t honestly have much of a shot at buying them. That’s why the normal sellers are holding firm. They know that some buyer is going to get tired of playing games with the banks and come looking for something they can actually buy.

Ten years ago folks that got priced out of Carmel Valley, Del Mar and La Jolla had the option of buying in the sleepy towns called Carlsbad and Encinitas. Those that took the risk and bought up north have now been substantially rewarded as these areas have IMHO now become premier areas to live and most owners have deep equity positions.

Instead of asking the question of what are good affordable areas that have perhaps not yet been discovered, most people on this board seem obsessed with hoping the train comes back to the station. Once the rich folks get involved the train rarely makes a second pass. I have seen this happen with countless areas around the country.

[pemeliza]

“The problem becomes much more unpredictable, especially when those with large reserves start to get involved.”

They are involved. Cash or close to cash transactions seem to be the norm nowadays on the best coastal properties with the best schools. While there have been a few good deals struck on the coast for most of us they are an illusion because we didn’t honestly have much of a shot at buying them. That’s why the normal sellers are holding firm. They know that some buyer is going to get tired of playing games with the banks and come looking for something they can actually buy.

Ten years ago folks that got priced out of Carmel Valley, Del Mar and La Jolla had the option of buying in the sleepy towns called Carlsbad and Encinitas. Those that took the risk and bought up north have now been substantially rewarded as these areas have IMHO now become premier areas to live and most owners have deep equity positions.

Instead of asking the question of what are good affordable areas that have perhaps not yet been discovered, most people on this board seem obsessed with hoping the train comes back to the station. Once the rich folks get involved the train rarely makes a second pass. I have seen this happen with countless areas around the country.

[pemeliza]

“The problem becomes much more unpredictable, especially when those with large reserves start to get involved.”

They are involved. Cash or close to cash transactions seem to be the norm nowadays on the best coastal properties with the best schools. While there have been a few good deals struck on the coast for most of us they are an illusion because we didn’t honestly have much of a shot at buying them. That’s why the normal sellers are holding firm. They know that some buyer is going to get tired of playing games with the banks and come looking for something they can actually buy.

Ten years ago folks that got priced out of Carmel Valley, Del Mar and La Jolla had the option of buying in the sleepy towns called Carlsbad and Encinitas. Those that took the risk and bought up north have now been substantially rewarded as these areas have IMHO now become premier areas to live and most owners have deep equity positions.

Instead of asking the question of what are good affordable areas that have perhaps not yet been discovered, most people on this board seem obsessed with hoping the train comes back to the station. Once the rich folks get involved the train rarely makes a second pass. I have seen this happen with countless areas around the country.

[pemeliza]

“The problem becomes much more unpredictable, especially when those with large reserves start to get involved.”

They are involved. Cash or close to cash transactions seem to be the norm nowadays on the best coastal properties with the best schools. While there have been a few good deals struck on the coast for most of us they are an illusion because we didn’t honestly have much of a shot at buying them. That’s why the normal sellers are holding firm. They know that some buyer is going to get tired of playing games with the banks and come looking for something they can actually buy.

Ten years ago folks that got priced out of Carmel Valley, Del Mar and La Jolla had the option of buying in the sleepy towns called Carlsbad and Encinitas. Those that took the risk and bought up north have now been substantially rewarded as these areas have IMHO now become premier areas to live and most owners have deep equity positions.

Instead of asking the question of what are good affordable areas that have perhaps not yet been discovered, most people on this board seem obsessed with hoping the train comes back to the station. Once the rich folks get involved the train rarely makes a second pass. I have seen this happen with countless areas around the country.

[pemeliza]

“Delusions of grandeur”

I don’t think this is the case. I think it is simply
supply and demand. The area is built out (unless we get
another base conversion).

First off, I have nothing to lose or gain by promoting
point loma real estate. I currently live outside San Diego
and will not move back until I see my price which is frankly
a good bit lower than what the market will currently bear.

I like others on this board think that coastal properties
will take a hit and I believe that from what I have observed, properties in PL/OB that I track are already quite
a bit off the peak.

My point was that relative to what you can get in Encinitas,
Del Mar, etc. South PL/OB real estate is fairly valued.
Now if all of the coast drops than I would certainly expect more drops in PL/OB as well.

BTW, there are some properties that are selling in 92106
and 92107 for WELL below list price. We are talking
low ball offers being accepted:

Example 1: 4455 Monaco St sold for 17% under list
Example 2: 873 Loma Valley Pl sold for 33% under list

The Loma valley place was mentioned in a different
thread. The house on Monaco IMHO is a very good location
and it went for under a million.

[pemeliza]

“Delusions of grandeur”

I don’t think this is the case. I think it is simply
supply and demand. The area is built out (unless we get
another base conversion).

First off, I have nothing to lose or gain by promoting
point loma real estate. I currently live outside San Diego
and will not move back until I see my price which is frankly
a good bit lower than what the market will currently bear.

I like others on this board think that coastal properties
will take a hit and I believe that from what I have observed, properties in PL/OB that I track are already quite
a bit off the peak.

My point was that relative to what you can get in Encinitas,
Del Mar, etc. South PL/OB real estate is fairly valued.
Now if all of the coast drops than I would certainly expect more drops in PL/OB as well.

BTW, there are some properties that are selling in 92106
and 92107 for WELL below list price. We are talking
low ball offers being accepted:

Example 1: 4455 Monaco St sold for 17% under list
Example 2: 873 Loma Valley Pl sold for 33% under list

The Loma valley place was mentioned in a different
thread. The house on Monaco IMHO is a very good location
and it went for under a million.

[pemeliza]

“Delusions of grandeur”

I don’t think this is the case. I think it is simply
supply and demand. The area is built out (unless we get
another base conversion).

First off, I have nothing to lose or gain by promoting
point loma real estate. I currently live outside San Diego
and will not move back until I see my price which is frankly
a good bit lower than what the market will currently bear.

I like others on this board think that coastal properties
will take a hit and I believe that from what I have observed, properties in PL/OB that I track are already quite
a bit off the peak.

My point was that relative to what you can get in Encinitas,
Del Mar, etc. South PL/OB real estate is fairly valued.
Now if all of the coast drops than I would certainly expect more drops in PL/OB as well.

BTW, there are some properties that are selling in 92106
and 92107 for WELL below list price. We are talking
low ball offers being accepted:

Example 1: 4455 Monaco St sold for 17% under list
Example 2: 873 Loma Valley Pl sold for 33% under list

The Loma valley place was mentioned in a different
thread. The house on Monaco IMHO is a very good location
and it went for under a million.

[pemeliza]

“Delusions of grandeur”

I don’t think this is the case. I think it is simply
supply and demand. The area is built out (unless we get
another base conversion).

First off, I have nothing to lose or gain by promoting
point loma real estate. I currently live outside San Diego
and will not move back until I see my price which is frankly
a good bit lower than what the market will currently bear.

I like others on this board think that coastal properties
will take a hit and I believe that from what I have observed, properties in PL/OB that I track are already quite
a bit off the peak.

My point was that relative to what you can get in Encinitas,
Del Mar, etc. South PL/OB real estate is fairly valued.
Now if all of the coast drops than I would certainly expect more drops in PL/OB as well.

BTW, there are some properties that are selling in 92106
and 92107 for WELL below list price. We are talking
low ball offers being accepted:

Example 1: 4455 Monaco St sold for 17% under list
Example 2: 873 Loma Valley Pl sold for 33% under list

The Loma valley place was mentioned in a different
thread. The house on Monaco IMHO is a very good location
and it went for under a million.

[pemeliza]

“Delusions of grandeur”

I don’t think this is the case. I think it is simply
supply and demand. The area is built out (unless we get
another base conversion).

First off, I have nothing to lose or gain by promoting
point loma real estate. I currently live outside San Diego
and will not move back until I see my price which is frankly
a good bit lower than what the market will currently bear.

I like others on this board think that coastal properties
will take a hit and I believe that from what I have observed, properties in PL/OB that I track are already quite
a bit off the peak.

My point was that relative to what you can get in Encinitas,
Del Mar, etc. South PL/OB real estate is fairly valued.
Now if all of the coast drops than I would certainly expect more drops in PL/OB as well.

BTW, there are some properties that are selling in 92106
and 92107 for WELL below list price. We are talking
low ball offers being accepted:

Example 1: 4455 Monaco St sold for 17% under list
Example 2: 873 Loma Valley Pl sold for 33% under list

The Loma valley place was mentioned in a different
thread. The house on Monaco IMHO is a very good location
and it went for under a million.

[pemeliza]

“SO.. if you have 2-10 million bucks to burn away on a home then yeah you can actually afford a home with an ocean and/or sunset/sunrise view.”

Or you can spend a million and just get the PL/OB
location (south of the flight path).

You can walk to the view or enjoy it on your way to work.

Not bad when you consider what everything else coastal
costs these days. A million isn’t what it used to be.

[pemeliza]

“SO.. if you have 2-10 million bucks to burn away on a home then yeah you can actually afford a home with an ocean and/or sunset/sunrise view.”

Or you can spend a million and just get the PL/OB
location (south of the flight path).

You can walk to the view or enjoy it on your way to work.

Not bad when you consider what everything else coastal
costs these days. A million isn’t what it used to be.

[Author]

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