[recordsclerk]

I think Stonebridge in general was under valued during 2008-2012 years. I don’t see the area going down in the near future. That being said, it would take a lot of things to happen before we see prices like we did in 2008-2010. I don’t think interest rates will have any micro affect on the area. Maybe rates over 6% will have a larger affect on housing in general. I thought Bellasario was over priced when released. In hindsight I think they priced it just right. Once the distressed inventory worked it’s way through the system, prices have bounced back with a vengence.

[recordsclerk]

Another thread that is only a couple years old, but shows how much the market has changed. I remember thinking that taking your time in 2011 was a good thing. You can’t find a single family home for under $400K in any of the area’s mentioned in this thread. Anything in the low 400’s is junk.

[recordsclerk]

It depends how much appreciation you have on the house. Don’t forget about the tax free appreciation for primary home. You will need to sell before the 3 year (must occupy home 24 out of last 60 months prior to closing) mark to save on taxes. If you don’t have much appreciation the tax benefit doesn’t come into play. Other than the tax implications, I would hold. Don’t see anything but appreciation on the horizon. As the new appreciation numbers get recorded you will see more buying frenzy. That will only stall out once prices get out of line with income.

[recordsclerk]

Not much available under $400k in BG’s area. My friend is having a hard time buying anything with 4 bedrooms under $400K. PUSD is not the only place you can’t buy under $400K. Sure you can by a smaller fixer, but anything with 4 bedrooms over 1700sqft is getting harder to find under $400K.

[recordsclerk]

I wouldn’t sell anything right now. I wouldn’t sell anything for at least a couple years.

[recordsclerk]

If you make your tenant do all the work and pay for repairs, they won’t do the repairs. Never, ever put that in a lease. It’s always in your best interest to have tenants call immediately with problems. Little problems can be costly if ignored. It can lead to law suits when the place becomes inhabitable.

[recordsclerk]

Looks like the cheaper one is a short sale. Originally purchased in the mid 600’s. Listing was lowered from mid 500’s to mid 400’s. Obviously some short sale shenanigans. Almost all low comps are short sale shenanigans. Almost all high comps are VA/FHA flip buyers. These are very consistent trends. The data is not all over the place. Until we clear out all the short sales, we will continue to see large variances in high/low comps.

[recordsclerk]

It was six years ago, get over it.

[recordsclerk]

I was saving for larger home in Stonebridge. Couldn’t save fast enough to catch that boat. Nothing in this market is pointing towards lower prices. Still some good deals on shorts, but getting harder to score. Good luck, I wouldn’t hold out for price corrections, you’ll miss the next boat. By the way prices are going up in all of San Diego, not just desirable locations.

[recordsclerk]

If the owners have not responded to your letters, they probably won’t respond to any future attempts. Send then a letter and have them at least sign off on the repairs or replacement of existing fence at your expense. If they don’t sign the letter allowing you to do repairs, then build a new fence on your side of the existing fence. You don’t want to have any future law suits and this should take care of that. Fence issues are a pain in the butt. My recomendation is to avoid any potential problems and if you want the new fence, you pay for it. Remember you are the one with the dog and potential hazard. I’ve been on both sides of the fence problem and there is no easy solution if one side is not ready to move forward.

[recordsclerk]

That’s how it’s done. What’s more amazing is the property tax assessment. The previous owners ATM’d the heck out of this property.

[recordsclerk]

If the price is good, then it’s worth. I love these situations as a buyer. I’m willing to go the extra mile to get the best deals. Most of the time it’s a waste of time, but you never know. We actually had an excepted offer on a Short Sale prior to seeing a property. In the listing, the house was supposed to be upgraded “no expense spared”. It was the least upgraded house in that tract. The eventual buyer still got a great deal, it just wasn’t what we wanted.

[recordsclerk]

I just bought my primary residence this year with 20% down. I don’t think I have any equity to draw from the primary. I’m looking to draw equity from a rental that is free and clear to purchase another rental. The unit that I want to buy has low owner occupancy. It will probably have to be a cash deal for new property. I like the flexibility of the HELOC, but I can’t find one with a good rate for non-owner occupant.

[recordsclerk]

Flu,

Do you know where the best rates are for HELOC? It would be a non-owner occupied HELOC. Anyone can chime in.

Thanks

[recordsclerk]

This is from the UT. Apparently the Mayor thinks living in Santee is like living in La Jolla. Now if we can get him to say that it’s a ten minute commute.

http://www.utsandiego.com/news/2012/mar/19/fanita-ranch-a-study-in-frustration/

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