[San Diego RE Bear]

Sorry – just editing a typo in an old post (yes, I am that OCD.) Didn’t mean to bump this up.

[San Diego RE Bear]

Sorry – just editing a typo in an old post (yes, I am that OCD.) Didn’t mean to bump this up.

[San Diego RE Bear]

Sorry – just editing a typo in an old post (yes, I am that OCD.) Didn’t mean to bump this up.

[San Diego RE Bear]

Sorry – just editing a typo in an old post (yes, I am that OCD.) Didn’t mean to bump this up.

[San Diego RE Bear]

Sorry – just editing a typo in an old post (yes, I am that OCD.) Didn’t mean to bump this up.

[San Diego RE Bear]

Yes, we all know that he who yells the loudest and is the biggest bully is always right. It’s not about facts, it’s about sheer force of will keeping real estate at completely unaffordable levels.

[San Diego RE Bear]

Yes, we all know that he who yells the loudest and is the biggest bully is always right. It’s not about facts, it’s about sheer force of will keeping real estate at completely unaffordable levels.

[San Diego RE Bear]

I recommend waiting too. This is going to be a very interesting year as the Option, Alt-A and Prime ARMs start adjusting in earnest and the high end begins to fall. My guess is that in the next six months the banks start capitulating and pricing the foreclosures in a more realistic manner. (Or at least start releasing the darn things.)

And you really need to think about buying a condo. 1.) HOA’s are a landmine – do you know how well funded it is? How many owners are no longer paying? The possibility of a “special assessment” for thousands, possibly even tens of thousands?
2.) Condos do not hold value or increase in value like SFR’s do. Long-term not as good an investment. Yes, it’s cheaper now but if SFR’s drop and become more affordable do you really want to be stuck in a condo.
3.) Rent a condo in the complex you are looking at – you might find have people all around you a bit of a culture shock after your own (granted tiny) home.

Hope that helps and best of luck!

[San Diego RE Bear]

I recommend waiting too. This is going to be a very interesting year as the Option, Alt-A and Prime ARMs start adjusting in earnest and the high end begins to fall. My guess is that in the next six months the banks start capitulating and pricing the foreclosures in a more realistic manner. (Or at least start releasing the darn things.)

And you really need to think about buying a condo. 1.) HOA’s are a landmine – do you know how well funded it is? How many owners are no longer paying? The possibility of a “special assessment” for thousands, possibly even tens of thousands?
2.) Condos do not hold value or increase in value like SFR’s do. Long-term not as good an investment. Yes, it’s cheaper now but if SFR’s drop and become more affordable do you really want to be stuck in a condo.
3.) Rent a condo in the complex you are looking at – you might find have people all around you a bit of a culture shock after your own (granted tiny) home.

Hope that helps and best of luck!

[San Diego RE Bear]

I recommend waiting too. This is going to be a very interesting year as the Option, Alt-A and Prime ARMs start adjusting in earnest and the high end begins to fall. My guess is that in the next six months the banks start capitulating and pricing the foreclosures in a more realistic manner. (Or at least start releasing the darn things.)

And you really need to think about buying a condo. 1.) HOA’s are a landmine – do you know how well funded it is? How many owners are no longer paying? The possibility of a “special assessment” for thousands, possibly even tens of thousands?
2.) Condos do not hold value or increase in value like SFR’s do. Long-term not as good an investment. Yes, it’s cheaper now but if SFR’s drop and become more affordable do you really want to be stuck in a condo.
3.) Rent a condo in the complex you are looking at – you might find have people all around you a bit of a culture shock after your own (granted tiny) home.

Hope that helps and best of luck!

[San Diego RE Bear]

I recommend waiting too. This is going to be a very interesting year as the Option, Alt-A and Prime ARMs start adjusting in earnest and the high end begins to fall. My guess is that in the next six months the banks start capitulating and pricing the foreclosures in a more realistic manner. (Or at least start releasing the darn things.)

And you really need to think about buying a condo. 1.) HOA’s are a landmine – do you know how well funded it is? How many owners are no longer paying? The possibility of a “special assessment” for thousands, possibly even tens of thousands?
2.) Condos do not hold value or increase in value like SFR’s do. Long-term not as good an investment. Yes, it’s cheaper now but if SFR’s drop and become more affordable do you really want to be stuck in a condo.
3.) Rent a condo in the complex you are looking at – you might find have people all around you a bit of a culture shock after your own (granted tiny) home.

Hope that helps and best of luck!

[San Diego RE Bear]

I recommend waiting too. This is going to be a very interesting year as the Option, Alt-A and Prime ARMs start adjusting in earnest and the high end begins to fall. My guess is that in the next six months the banks start capitulating and pricing the foreclosures in a more realistic manner. (Or at least start releasing the darn things.)

And you really need to think about buying a condo. 1.) HOA’s are a landmine – do you know how well funded it is? How many owners are no longer paying? The possibility of a “special assessment” for thousands, possibly even tens of thousands?
2.) Condos do not hold value or increase in value like SFR’s do. Long-term not as good an investment. Yes, it’s cheaper now but if SFR’s drop and become more affordable do you really want to be stuck in a condo.
3.) Rent a condo in the complex you are looking at – you might find have people all around you a bit of a culture shock after your own (granted tiny) home.

Hope that helps and best of luck!

[San Diego RE Bear]

I would start with Fund 0030 – Vanguard Prime Money Market. It’s fairly safe (would probably be the last MMF to fail) and pays a decent interest rate. Later it will allow you to set up a Dollar Cost Averaging plan into a fund of your choice either with Vanguard or outside through their Brokerage Services. But you don’t have to do that yet – maybe wait for the DOW to hit a certain point before buying back in. (I’m looking for under 7,000 and think it may drop more but that’s when I’ll start buying.)

By all means fund the Roth – You don’t have to invest it now. And with 40 years to go even if you did you would be fine.

Good Luck!

[San Diego RE Bear]

I would start with Fund 0030 – Vanguard Prime Money Market. It’s fairly safe (would probably be the last MMF to fail) and pays a decent interest rate. Later it will allow you to set up a Dollar Cost Averaging plan into a fund of your choice either with Vanguard or outside through their Brokerage Services. But you don’t have to do that yet – maybe wait for the DOW to hit a certain point before buying back in. (I’m looking for under 7,000 and think it may drop more but that’s when I’ll start buying.)

By all means fund the Roth – You don’t have to invest it now. And with 40 years to go even if you did you would be fine.

Good Luck!

[San Diego RE Bear]

I would start with Fund 0030 – Vanguard Prime Money Market. It’s fairly safe (would probably be the last MMF to fail) and pays a decent interest rate. Later it will allow you to set up a Dollar Cost Averaging plan into a fund of your choice either with Vanguard or outside through their Brokerage Services. But you don’t have to do that yet – maybe wait for the DOW to hit a certain point before buying back in. (I’m looking for under 7,000 and think it may drop more but that’s when I’ll start buying.)

By all means fund the Roth – You don’t have to invest it now. And with 40 years to go even if you did you would be fine.

Good Luck!

[Author]

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