[PerryChase]

I agree with your wife.

I know people who are just bad examples to their kids. They don’t make up the bed in the morning nor do they cook proper meals. So kids eat spagetti and frozen pizza then run off to play video games. I remember having to ask permission to leave the dining table.

[PerryChase]

I think that cities like gated communities. It shifts the burden of street maintenance onto the private sector.

I hate gated commmunities. But I think that they’re the way new developments are going.

[PerryChase]

lendingbubbleco, I love reading your posts. You convey the feelings well. I wish I could do that. 🙂

[PerryChase]

I believe that in the past people use to be concerned about the amount they paid for an item. Now it’s all about the monthly payment.

People buy $1,000 TVs on installment payments so why not have $100,000 in house upgrades if the monthly payment is only $50 more (until the loan resets, ha.ha).

[PerryChase]

Look at rent near where you work. What area of town do you work in? Living near work will dramatically increase the free time you have available and your quality of life.

Look for properties less than 5 years old if you can find them. A/C and other appliances run better and the insulation is better as well.

You should have plenty of choices in RB. Since you have plenty of time, look on Craigslist and the newspaper and, at your leisure, visit properties and become knowlegeable about what you can get for the money. I believe you’ll get a better deal renting from an individual homeowner rather than in rental complex or through a property manager. However, those good deals are harder to come by.

Best of luck to you.

[PerryChase]

ha.ha very funny! I like your plain spoken style. 🙂

[PerryChase]

BTW this condo is currently on the MLS for $285,000.

[PerryChase]

Chrispy, if i rent to a section 8 tennant, do I have to take a lower rental rate?

[PerryChase]

carlislematthew, you have a good point. I think the median is relevant because that’s that is published in the press and that’s way the average buyer/seller looks at when making a transaction decision.

Until the median (which is the most widely use stats) shows a significant decline, the public will still think that real estate is stable and thus a good buy.

[PerryChase]

What is Section 8?

Look at the “walking on your mortgage thread.” I asked pretty much the same question.

[PerryChase]

sdrealtor, yeah 20k is not much. When i bought years ago, I paid more to get the 2 story house with just a 1-story neighbor on 1 side.

[PerryChase]

As much as I’d like to live in a custom house, I’m not wealthy enough to have that choice.

Realtors can help find that “perfect” house for you. Just like the fashion consultant can find the “perfect” look for you. But the majority of people could dispense from the extra expense.

Honestly, if you buy a track house, any plan 3R, 4R would do just the same. If you buy a downtown condo, the 10th floor might do just a well as the 13th floor. Personally, I would not pay a big premium for small differences.

But taste is in the eyes of the beholder. I know people who spent a lot of money remodeling their houses with crown moulding, custom paint, tile, even the cabinet door knobs, etc… Suddendly, they think that their house is worth $50k more. If I had to buy such house I’d ask for a 50k price reduction to undo the uglyness.

asianautica is right that for track homes, small differences don’t justify the big premiums. If you have resale value in mind, the only thing that really matters is price per square foot.

[PerryChase]

Yeah, looks like Poway is still going strong.

Buyers are not yet fully aware of the state of the market so they are still thinking they can get buy on a small dip. The fact that real estate is way down won’t become widespread knowledge until November when we have YOY mean reported. November 2005 was the all time median high at $518k.

I expect to see the Spring 2007 inventory skyrocket and prices to plunge accordingly.

[PerryChase]

Policy makers keep “the masses drugged with bad information” concerning monetary policy. That makes me wonder about everything else.

Government will never admit to any bad mistakes otherwise it might cause unnecessary panic and dissatisfaction.

[PerryChase]

I agree with Daniel.

If a mortgage borrower walks, he’s not actually “breaking” anything. He’s fulfilling the default clause of the contract. That’s why the default clause is there to begin with. It’s up to the borrower to choose to pay or default.

I believe that it’s best to own real estate and declare bankruptcy in Florida. Remember OJ Simpson?

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