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Lee? Lee Sterling is that you? Reveal yourself!!!

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davidpeace, I’m in almost the same situation you are with a baby on the way. I am currently renting a nice big 2 bed condo in mission valley for $1250 a month. Let me repeat that – $1250 a month. Between my wife and I we could afford to pay much more but we are enjoying saving the extra money and now we can sit back and watch housing prices fall and jump in anytime we are ready. I too get frustrated at not having my own home but then again I make up for it by buying motorcycles, taking road trips and whatever I want with the extra money we have. Its really about what makes you happy. If you have the option you might want to get out of that contract and wait a little longer.

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I think Rich kicked a little ass. Like another poster pointed out – he was up against a professional sales guy who is used to putting a rosy spin on things. Hell, Lee is there defending his career and his way of life so I would imagine he would put up quite a fight. But still the way I saw it Rich’s argument held up much better than Lee’s old tired lines about how SD is running out of housing etc etc.

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1. Slow drivers that think they are the only people on the road.

2. Loud people that think everything they say is interesting because they said it.

3. Realtors that don’t know how to tell their clients to clean the house and yard before snapping photos for the MLS. I don’t want to see your dirty laundry in the bedroom and box of cereal on the table!

4. Guys that shake hands with a limp wrist. What the hell is up with that?

Actually I’m a very irritable person so these are just a few.

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$3150 for a 417K loan? A 30 yr fixed rate is around $2400 for the same thing right now. Who ever falls for this is going to be in deep sheet in five years. Pus the house may be worth half of what its selling for now. I guess I’m just currious to see how many take the bait.

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Yeah maybe this is a little weird. Clearing the plates shouldnt be a big deal but maybe its the fact that now you feel rushed to hurry up and leave so the next guest can use your table thats really annoying you.

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bgates, your passionate about your views but you still havent explained how Bush’s take on things have been an improvement over anything ells we have had. the way i see it a lot of money and good American lives wasted on a pipe dream. If we had not gone to Iraq would things be different for us? And dont give me that crap that all of a sudden you care about the poor helpless people there. You never gave the people there a second thought before Bush decided to invade, and probably still dont. Yes Saddom was mean but I can name 10 or more leaders that are as bad or worse than him. You have to do better bgates, tell me how bush has improved something. thats what i need to hear.

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So all of a sudden Bush takes office and he’s ready to go to war with Iraq “there’s WMD’s there” and he tries to convince the world. The evidence is weak at best but he’s on a mission and pulls the patriot card. Next thing you know your either for the war or a terrorist. Then all of a sudden there we are involved in a major war in Iraq but to date no proof of WMD’s has been found but guess what? While Bush was wrapped up in Iraq north Korea goes ahead and develops the very thing Bush was trying to prevent. I’m waiting still for the logic? I’m prior military so I know a clusterf**k when I see one and this administration is the epitome of clusterf**k.

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For something to do today my Wife and I drove out to Campo to see the Campo Hills community they are currently building.
I was actually surprised at how many people have already bought homes there but then again there were a lot of for sale signs stuck in the lawns of homes that had already sold. The homes are more modest than some of the McMansions we are used to seeing but sort of nice too. They range from 355k to 420k per the signonsandiego.com website. The main problem I had was that there is nothing in Campo to do. You would have to drive 30 miles to do anything or even go to the hospital. I didn’t even ask if they are offering any incentives because I had no intention of buying but I think the price alone is maybe some of the lowest in the area at the moment.

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At this stage I wouldn’t even worry about what someone would like to get for their home, those days are gone. Do a little research on rents for the area and figure out what your mortgage would cost compared to rents. Offer that amount and don’t budge. Sellers that can’t sell cheap will lose their homes eventually and the others that want to sell will fall in line. Don’t let realtors dictate a price, you decide what you want to spend and stick to it.

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Hey NSR,

yeah I’m sure I’m being labeled a vulture or bottom feeder or whatever. My response to that is. Sellers would have no issue with taking my money from me if decided to over pay for a property so why should I worry about them losing money now. right? Current sellers have found themselves on the wrong side of the coin. On one hand I feel bad for maybe causing undue stress with my low offers but on the other hand I just want a place of my own for a reasonable price. I’m not trying to buy an ATM machine like so many have I just want a house for me and my family. At this stage I’m not worried about comps or anything like that to me its all skewed anyway. I’ll come in at what I can afford plain and simple.

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To answer your question, no I’m not sure if I want to buy now but if the right deal presents itself than I will be open to going through with it. I’m in a great rental situation at the moment in a nice area so I’m in no hurry to buy. Actually the criteria on my offers are that the home price along with HOA is comparable with what rents are. Of course this usually means shaving 60 to 100k off the asking price right off the bat. Most sellers are under water on their loans but a quick check of their tax records usually show when they bought and for how much. I usually use eloan or other services to get quotes on current mortgage rates then add HOA to get my figure. Right now I’m shooting for $1200-$1400 range so this means I can borrow about 200k for a two bed condo. Anything higher is out of my price range. Sellers receiving an offer from me is the wake up call.

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Quite a few realtors are in denial as well. I happen to have my RE license but I’m not a carreer realtor so I think I have a whole different perspective on this market. I’m currently considering buying a condo that I plan to live in at least until single family homes become more affordable. I’m dropping some serious low ball offers on condo’s that have sat on the market way too long. You should hear some of the voice mails I get from rabid realtors that just can’t believe I would make such a low offer. Trust me they are still competitive offers just not by todays “standards”. I actually feel like I’m doing them a favor by helping them unload it but they dont see it that way yet. I have two offers out that have not been rejected yet, I’ll let you know if one pans out.

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I too have a friend that is trying to sell her home. She’s around 60 and her and her husband were planning on selling it to help supplement their retirement that is coming up soon.
Its a very nice 3/2 in Rancho SD but its been on the market for three months now with only one sort of sketchy offer that they declined. My friend has often tried to sell me this home but at over 500k there is no way I want to shoulder a mortgage that big. I’m in my 30’s and between my wife and I we clear about 80k a yr so I’m not sure if I could even qualify.
When she first put it on the market she asked us to come out and look at it. After stating that it was higher than I intended to spend I got the “oh I see, don’t lose hope ok” I hated the attitude I was seeing when I know darn well this market has run its course. I had tried to explain why she has not gotten any offers in the last three months and it just falls on deaf ears. They honestly can’t fathom the thought of not being able to unload their house for some ridiculous price. Recently her attitude has changed though, I noticed when I see her she’s more upset about the house and actually a little spiteful towards me because of what I was saying about the market I guess.
In short, I too feel that most Americans live in a dreamy world that often keeps reality out if it doesn’t fit their dream criteria. It bothers me because I wonder what the next big scam will be that will heard the masses into another terrible decision.

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I live two blocks from that construction by the fashion valley mall. My first concern was the way they carved into the side of the hill and blocked it up with cement. Mission Valley is technically a flood zone and after seeing hill sides give away in the last big rain I dont think I would want to be anywhere near that place during a heavy rain season or earthquake.

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