[rb_engineer]

From what I heard from people who are from there, prices in bay area are 2X the SD prices. That is, a townhouse in a Mira Mesa type of area is 700K-800K. A single family tract house in CV type of area is 1.5M to 2M.

[rb_engineer]

vrudny,

I apologize for being a bit confrontational. I just wanted to point out the other of the story since I believe that the decision is not so black and white.

So, from the $432 in savings you mention, you have not subtracted the principle being paid off every month, right? This will get you even closer. I guess unless you had an I/O which I don’t think you did.

Personally, I think you made pretty good moves. You made $30K in 1 year after taxes! But I also believe that there are people who’ll trade that 30K to keep the home.

[rb_engineer]

vrudny,

I apologize for being a bit confrontational. I just wanted to point out the other of the story since I believe that the decision is not so black and white.

So, from the $432 in savings you mention, you have not subtracted the principle being paid off every month, right? This will get you even closer. I guess unless you had an I/O which I don’t think you did.

Personally, I think you made pretty good moves. You made $30K in 1 year after taxes! But I also believe that there are people who’ll trade that 30K to keep the home.

[rb_engineer]

Clearly, I don’t agree with the conclusion with this specific situation. What did I miss?

[rb_engineer]

Clearly, I don’t agree with the conclusion with this specific situation. What did I miss?

[rb_engineer]

Hmm…

Say you had 20% down payment. In 2004-2005, you can get 30yr fixed for ~5%. That’s $1481 per month which $300 goes to your principle. Even with property taxes and HOA you are probably under $2000. If you then count tax deduction and the principle you are paying off (>$500), aren’t you financially better off than paying $1500 for rent? I guess you can argue that the house has lost in value but that was paper gain anyways. Also, since you held the house for less than 2yrs and with fees you probably netted less than 30K, right?

[rb_engineer]

Hmm…

Say you had 20% down payment. In 2004-2005, you can get 30yr fixed for ~5%. That’s $1481 per month which $300 goes to your principle. Even with property taxes and HOA you are probably under $2000. If you then count tax deduction and the principle you are paying off (>$500), aren’t you financially better off than paying $1500 for rent? I guess you can argue that the house has lost in value but that was paper gain anyways. Also, since you held the house for less than 2yrs and with fees you probably netted less than 30K, right?

[rb_engineer]

For 670k portico house
20% (134k) down
6.5% 30yr fixed = $3388/month
prop taxes~=savings in deduction
$300 in fees (HOA +)
Total=$3688/month
Equiv Rent?=~$3000+

[rb_engineer]

For 670k portico house
20% (134k) down
6.5% 30yr fixed = $3388/month
prop taxes~=savings in deduction
$300 in fees (HOA +)
Total=$3688/month
Equiv Rent?=~$3000+

[rb_engineer]

fromnj,

I would say ~10%. One caveat about bargain hunting is that you’ll probably need to settle for a less than perfect house.

I guess Santaluz has a love/hate type of community plan. They are in a much nicer (visually) location compared to 4S/Del Sur/CV in my opinion.

[rb_engineer]

fromnj,

I would say ~10%. One caveat about bargain hunting is that you’ll probably need to settle for a less than perfect house.

I guess Santaluz has a love/hate type of community plan. They are in a much nicer (visually) location compared to 4S/Del Sur/CV in my opinion.

[rb_engineer]

If you really have to buy this year, I would say buy in Oct/Nov timeframe since market is slower then. I also would concentrate on markets with the most inventory to get the best deals. Right now this seems to be the new 92127 area (Santaluz?) and RSF. You can probably find a steal if you can stretch your budget some.

[rb_engineer]

If you really have to buy this year, I would say buy in Oct/Nov timeframe since market is slower then. I also would concentrate on markets with the most inventory to get the best deals. Right now this seems to be the new 92127 area (Santaluz?) and RSF. You can probably find a steal if you can stretch your budget some.

[rb_engineer]

lniles,

I see what you are saying. For me, I’m pretty satisfied with the stock performance so far this year. Hopefully, the 2nd half is just as good.

JWM,

I’m just saying its a scenario because it has happened yet. Whatever you are predicting at least.

[rb_engineer]

lniles,

I see what you are saying. For me, I’m pretty satisfied with the stock performance so far this year. Hopefully, the 2nd half is just as good.

JWM,

I’m just saying its a scenario because it has happened yet. Whatever you are predicting at least.

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