[PerryChase]

ibjames, i like your outlook on life.

People who have a “show me the money” mentality generally end up with no family or friendship either. They get treated the same way they treat others — show me the money.

[PerryChase]

In case you guys haven’t seen Rich’s chart yet, the last townturn lasted 6 years. I wouldn’t buy anything until we’re 5 years into a buyers’ market.

January Housing Data

As OCrenter pointed out, prices are down… and developers are undercutting resales. You don’t see that if you’re reading about market trends. Look at resale listings over time, compare them to builders’s new units and you’ll see that definite down trend.

[PerryChase]

I LOVE San Diego, but waiting for a $600K house to drop to $400K is insufferable.

No it's not…. patience, patience.  If you leave you'll regret it.  

kicksavedave, you're one of rare ones in San Diego who won't spend all his money on real estate.  Realtors will tell you that you can "afford" a million dollar house.  Get a teaser rate loan and when the market goes back up, you can sell.  Do that a few times then you'll have enough money to pay-off your forever dream house.  Remember, everyone wants to live in San Diego.  You can't loose.  

Seriously, it's like gambling.  Even if the odds are in your favor, unless you have enough cash to stay in the game, long term, you're out.  

 

[PerryChase]

San Francisco is actually a medium city — smaller than San Diego in geography and population.

[PerryChase]

I agree with exeunt for the most part.

The Internet has changed things a lot. In the past, some agents would monopolize certain neighborhoods (especially the better ones) and refuse to show homes that weren’t listed within their informal buddy network. There are less able to control showings since buyers can view them on the Net.

I’ve read SD Realtor’s post for a while now. He’s a full service broker but charges discount prices; and I believe he’s part of the new (rather then the old) paradigm of real estate. I would use someone like SD Realtor to make an offer on a house — full service at discount prices, why not?

[PerryChase]

I visited Sunset Cove. I concur with all the comments about pricing and Clairemont. The townhouses are pretty nice but not for the price they want.

Some units (yet to be constructed) will have nice Bay views. What’s why you should get familiar with neighborboods now, and snatch a good buy (or several) on the resale market half a decade from now.

[PerryChase]

While we’re on stereotypes, I would agree the the cultural snobs generally don’t look too impressive.

However, the “don’t-mess-with-Texas” types don’t look too hot either past age 28. The rich ones have pretty wives but poor ones end up with fat-ass wives.

Personally, I aim to be like Paul Newman or Robert Redford; and collecting social security at age 80, rather than long dead from clogged arteries. And I think that soccer-football players are by far more athletic than American-football players.

Southern Californians are overall the most attractive in the country. Thanks to the weather we aren’t able to cover all the flaws so we have to work hard to correct them.

People like to deride the California body beautiful culture because they are jealous. But there’s a reason people look they way they do on the screen and in magazines.

‘nough of SoCal shallow self-absorption.

[PerryChase]

A friend of mine is an SAP project manager and got transferred, kicking and screaming to Dallas (Frisco, i think). He was living a 1 bd in Mission Valley. Now he still has a 1 bd in Dallas but twice the size and with an attached 2-car garage. He got a big salary increase and a bonus to make it worth his while. Now he’s OK with it and likes it. He says that Dallas is liveable but not as scenic as San Diego.

I like San Diego because I like never having to worry about the weather and what to wear. I also like the diversity of population here.

Never having been to Texas, I imagine it to be like El Cajon or Lakeside, or Campo but flat. I’m sure that it’s better than that.

The church thing happens here also. My dad retired in San Diego because us kids are here. The parents and kids in the neighborhood sometimes ask him to join them in church. I think they mean well, but if you don’t believe in organized religion, then church is the last place you’d want to be.

Overall, I find that San Diego has the best weather in the whole Continental USA. The city is cosmopolitan enough (but still on the redneck side). Culturally, I’d rather live in NYC or Europe, but San Diego has good combination of everything. San Diego is not the most exiting place, but it’s a physically comfortable place to live. I can vacation in the more exciting places.

I applaud your decision to buy a mid-century modern house. I plan to find and rehab one in Point Loma, if I’m lucky. I’m so done with the Spanish/Tuscan style stucco boxes. San Diego would be great with better urban planning, more density and better public transport. I’d like to see a bi-national San Diego/Tijuana metropolitan area develop.

[PerryChase]

Thanks for posting. Great info. 🙂

[PerryChase]

I agree with the psychology thing. I’m been looking at houses on ZipRealty for a while and I’ve been desensitized to what “real value” is. I now tend to spot “relative value,” that is value relative to other listings.

Then one my friends relocated to Indianapolis. So I looked at real estate there just for the heck of it. Well, in Indianapolis (a big foreclosure market) you can get houses for less then $100/sf, even in the toniest neighborhoods. That’s what brought me back to reality of how way, way, way overpriced San Diego is.

[PerryChase]

Looks like this development was “investment” central.

2636 VILLAS WAY, SD – Mission Valley, CA 92108**

List Price: $599,900 – $619,900

Sales History
Date Price
11/29/2004 $625,630

Bedrooms: 3
Full Baths: 2
Partial Baths: 1
Square Feet: 1,422
Lot Size: N/A
Year Built: 2004
Listing Date: 12/13/06
On Market: 59 days
Type: SFR
Status: ACTIVE
MLS #: 066101527

http://www.ziprealty.com/buy_a_home/logged_in/search/home_detail.jsp?listing_num=066101527&page=1&property_type=SFR&mls=mls_sandiego&cKey=69bsd3ls&source=SANDICOR
http://sdlookup.com/PropertyDetails/tabid/53/forumid/1/view/topics/pid/9CA5A3F3/Default.aspx

[PerryChase]

Flip Flop on condo conversion near Downtown La Jolla.
Looks like a well done condo conversion.

525 MARINE #4, La Jolla, CA 92037**
List Price: $595,000 – $595,000

Bedrooms: 2
Full Baths: 2
Partial Baths: 0
Square Feet: 1,000
Lot Size: N/A
Year Built: 1963
Listing Date: 12/04/06
On Market: 67 days
Type: CONDO/TH
Status: ACTIVE
MLS #: 066099564

Description
Completely remodeled loft style condo within walking distance to la jolla village and one block to the exclusive marine street beach. Trendy interior includes wet bar, stackable washer and dryer, cherrywood cabinets, travertine floors, crown mouldings, and charming courtyard. Furnished or unfurnished.

——————–

If exclusive La Jolla is getting hit, how much of a proportional price cut should UTC take?

http://www.ziprealty.com/buy_a_home/logged_in/search/home_detail.jsp?listing_num=066099564&page=1&property_type=CONDO&mls=mls_sandiego&cKey=3fcmrwp2&source=SANDICOR
http://sdlookup.com/PropertyDetails/tabid/53/forumid/1/view/topics/pid/5EC43D06/Default.aspx

[PerryChase]

Much of the housing stock here is old and decrepit.

I don't think it's very smart to pay a lot of money to live in old decrepit houses.  

There some really nice areas in the Bay Area.  But "Bay Area" has been expanded so much that it's become meaningless to me.   I don't consider San Jose the Bay Area.  I would call it Silicon Valley.  

To me, the Bay Area sucks unless you have the money to enjoy what it's got to offer.  For many, the commute is horrendous and the weather is dreadful compared to San Diego.   The Bay Area has more glamour than San Diego but only for the well-to-do.  San Diego is overall a more pleasant place to live. 

 

[PerryChase]

Here’s a Santa Rosa flip trying to come out unscathed. Let’s see what he eventually sells for.

http://www.ziprealty.com/buy_a_home/logged_in/search/home_detail.jsp?listing_num=071011460&mls=mls_sandiego&cKey=l4t247zp&source=SANDICOR
http://sdlookup.com/PropertyDetails/tabid/53/forumid/1/view/topics/pid/C213395E/Default.aspx

List Price: $1,099,000 – $1,099,000
Sales History
Date Price
08/04/2006 $982,593

Bedrooms: 4
Full Baths: 3
Partial Baths: 0
Square Feet: 2,961
Lot Size: N/A
Year Built: 2006
Listing Date: 02/09/07
On Market: 0 day
Type: SFR
Status: ACTIVE
MLS #: 071011460

Description
$1,099,000. Sellers loss is your gain! Santa rosa plan 1, priced far below any other including builder! Meticulous detail & design! Loaded; surround sound,stainless steel,granite,brailian walnut floors,custom mantle,chandeliers,solar panels,tankless h2o heater, upgraded bathrooms,approved landscape design! Must see!

[PerryChase]

Real Buyer, how are the people in the former Soviet states doing? I hear the the RE bubble there is several the magniture of San Diego’s (in relation to wages).

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