[Scarlett]

[quote=UCGal][quote=Rustico]It seems like buying something that requires two incomes to “sustain” is always stretching.[/quote]
I have to agree with Russell here. Maybe I come to that perspective because I owned a house before I got married… As did my husband. So the idea of doing it on a single income was natural.

In an ideal world, folks would buy based on one income… which allows the other income to fund savings, etc…[/quote]

Well, UCGal, depends on the income and the house…I don’t share that perspective…When I got married I was a postdoc, earning 30K or so…It was unconceivable then to me to own a house on my income – even later, as a programmer analyst in my mid 30s earning 40k…What kind of house I could have gotten that was 100K then? The bubble was almost full blown…LOL…I had practically no savings at all for a downpayment either. That was not many years ago either mind you – less than 10! – so we were already in the housing bubble… To us it was clear that if we want to have a decent house & life we need both incomes… That was our perspective.

As a note, I am not trying to live on one income and save the other exclusively. Life is short, and we haven’t indulged much so far as student/postdoc as we worked very hard during those times. Sure we would save a good part. But we want to be able to afford the mortgage AND put food on the table IF we will be on ONE income – cutting out non-essentials.

[Scarlett]

[quote=bearishgurl]
http://www.sdlookup.com/MLS-100047943-7772_Cedar_Lake_Ave_San_Diego_CA_92119

Scarlett, I think your Cedarlake Ave listing is well-appointed for the $450K range is it asking (reduced from $475K), esp since it feeds into renowned “communications magnet” Benchley-Wienberger Elem (API 910).

http://www.sandi.net/329320113104425590/site/default.asp

If you don’t mind my asking, are you locked into a lease right now? In other words, is there something preventing you from making an offer on a suitable residence at present? And, if so, is the amount it would take to exit a lease worth waiting for the end of the lease in order to make a deal on a principal residence for you?

If so, my second question is, do you think the RE market will be lower and “less competitive” than it is at present, when you are finally ready to buy??[/quote]

Not that it matters, but yes we have a lease until late spring, after which we’ll go month to month. Right now we are going when we have time – a couple days a month – to advertised open houses or to explore different neighborhoods. We’ll start looking more actively very soon though and if we find something that we like and it’s a good deal, we may break the lease a couple months early, no more. As a matter of fact I am still wondering if we should continue to rent for another year or two- and save more (if we put now 20% down we won’t have any cash reserves) and have a sweet commute in the mean time – and let the house market dust settle. I believe that the housing market will be lower in a couple years, even if rates will be higher. I am not trying to argue this or connvince anybody, just my gut feeling. I am wondering if I should be waiting for a true bottom, not necessarily for the lowest rates, which I believe we’ve seen already. Not that I want to time the bottom, I’d rather have the housing bottom behind us rather than possibly ahead, that’s all. On the other hand, we got to get on with our lives, settle in a nice house with yard and good schools, risks and stretching be damned. And who know with all this government intervention if the true bottom will even be reached in a couple years, if it’s not there already. It could be a slow decline over 10 yers.

But, to your point, in a few months we will be ready to pounce on a good deal that we LIKE as well. So far we haven’t seen something that we both loved as a deal as well as a home. Quite a few ok, but they weren’t calling our names.

[Scarlett]

[quote=bearishgurl]
http://www.sdlookup.com/MLS-100047943-7772_Cedar_Lake_Ave_San_Diego_CA_92119

Scarlett, I think your Cedarlake Ave listing is well-appointed for the $450K range is it asking (reduced from $475K), esp since it feeds into renowned “communications magnet” Benchley-Wienberger Elem (API 910).

http://www.sandi.net/329320113104425590/site/default.asp

If you don’t mind my asking, are you locked into a lease right now? In other words, is there something preventing you from making an offer on a suitable residence at present? And, if so, is the amount it would take to exit a lease worth waiting for the end of the lease in order to make a deal on a principal residence for you?

If so, my second question is, do you think the RE market will be lower and “less competitive” than it is at present, when you are finally ready to buy??[/quote]

Not that it matters, but yes we have a lease until late spring, after which we’ll go month to month. Right now we are going when we have time – a couple days a month – to advertised open houses or to explore different neighborhoods. We’ll start looking more actively very soon though and if we find something that we like and it’s a good deal, we may break the lease a couple months early, no more. As a matter of fact I am still wondering if we should continue to rent for another year or two- and save more (if we put now 20% down we won’t have any cash reserves) and have a sweet commute in the mean time – and let the house market dust settle. I believe that the housing market will be lower in a couple years, even if rates will be higher. I am not trying to argue this or connvince anybody, just my gut feeling. I am wondering if I should be waiting for a true bottom, not necessarily for the lowest rates, which I believe we’ve seen already. Not that I want to time the bottom, I’d rather have the housing bottom behind us rather than possibly ahead, that’s all. On the other hand, we got to get on with our lives, settle in a nice house with yard and good schools, risks and stretching be damned. And who know with all this government intervention if the true bottom will even be reached in a couple years, if it’s not there already. It could be a slow decline over 10 yers.

But, to your point, in a few months we will be ready to pounce on a good deal that we LIKE as well. So far we haven’t seen something that we both loved as a deal as well as a home. Quite a few ok, but they weren’t calling our names.

[Scarlett]

[quote=bearishgurl]
http://www.sdlookup.com/MLS-100047943-7772_Cedar_Lake_Ave_San_Diego_CA_92119

Scarlett, I think your Cedarlake Ave listing is well-appointed for the $450K range is it asking (reduced from $475K), esp since it feeds into renowned “communications magnet” Benchley-Wienberger Elem (API 910).

http://www.sandi.net/329320113104425590/site/default.asp

If you don’t mind my asking, are you locked into a lease right now? In other words, is there something preventing you from making an offer on a suitable residence at present? And, if so, is the amount it would take to exit a lease worth waiting for the end of the lease in order to make a deal on a principal residence for you?

If so, my second question is, do you think the RE market will be lower and “less competitive” than it is at present, when you are finally ready to buy??[/quote]

Not that it matters, but yes we have a lease until late spring, after which we’ll go month to month. Right now we are going when we have time – a couple days a month – to advertised open houses or to explore different neighborhoods. We’ll start looking more actively very soon though and if we find something that we like and it’s a good deal, we may break the lease a couple months early, no more. As a matter of fact I am still wondering if we should continue to rent for another year or two- and save more (if we put now 20% down we won’t have any cash reserves) and have a sweet commute in the mean time – and let the house market dust settle. I believe that the housing market will be lower in a couple years, even if rates will be higher. I am not trying to argue this or connvince anybody, just my gut feeling. I am wondering if I should be waiting for a true bottom, not necessarily for the lowest rates, which I believe we’ve seen already. Not that I want to time the bottom, I’d rather have the housing bottom behind us rather than possibly ahead, that’s all. On the other hand, we got to get on with our lives, settle in a nice house with yard and good schools, risks and stretching be damned. And who know with all this government intervention if the true bottom will even be reached in a couple years, if it’s not there already. It could be a slow decline over 10 yers.

But, to your point, in a few months we will be ready to pounce on a good deal that we LIKE as well. So far we haven’t seen something that we both loved as a deal as well as a home. Quite a few ok, but they weren’t calling our names.

[Scarlett]

[quote=bearishgurl]
http://www.sdlookup.com/MLS-100047943-7772_Cedar_Lake_Ave_San_Diego_CA_92119

Scarlett, I think your Cedarlake Ave listing is well-appointed for the $450K range is it asking (reduced from $475K), esp since it feeds into renowned “communications magnet” Benchley-Wienberger Elem (API 910).

http://www.sandi.net/329320113104425590/site/default.asp

If you don’t mind my asking, are you locked into a lease right now? In other words, is there something preventing you from making an offer on a suitable residence at present? And, if so, is the amount it would take to exit a lease worth waiting for the end of the lease in order to make a deal on a principal residence for you?

If so, my second question is, do you think the RE market will be lower and “less competitive” than it is at present, when you are finally ready to buy??[/quote]

Not that it matters, but yes we have a lease until late spring, after which we’ll go month to month. Right now we are going when we have time – a couple days a month – to advertised open houses or to explore different neighborhoods. We’ll start looking more actively very soon though and if we find something that we like and it’s a good deal, we may break the lease a couple months early, no more. As a matter of fact I am still wondering if we should continue to rent for another year or two- and save more (if we put now 20% down we won’t have any cash reserves) and have a sweet commute in the mean time – and let the house market dust settle. I believe that the housing market will be lower in a couple years, even if rates will be higher. I am not trying to argue this or connvince anybody, just my gut feeling. I am wondering if I should be waiting for a true bottom, not necessarily for the lowest rates, which I believe we’ve seen already. Not that I want to time the bottom, I’d rather have the housing bottom behind us rather than possibly ahead, that’s all. On the other hand, we got to get on with our lives, settle in a nice house with yard and good schools, risks and stretching be damned. And who know with all this government intervention if the true bottom will even be reached in a couple years, if it’s not there already. It could be a slow decline over 10 yers.

But, to your point, in a few months we will be ready to pounce on a good deal that we LIKE as well. So far we haven’t seen something that we both loved as a deal as well as a home. Quite a few ok, but they weren’t calling our names.

[Scarlett]

[quote=bearishgurl]
http://www.sdlookup.com/MLS-100047943-7772_Cedar_Lake_Ave_San_Diego_CA_92119

Scarlett, I think your Cedarlake Ave listing is well-appointed for the $450K range is it asking (reduced from $475K), esp since it feeds into renowned “communications magnet” Benchley-Wienberger Elem (API 910).

http://www.sandi.net/329320113104425590/site/default.asp

If you don’t mind my asking, are you locked into a lease right now? In other words, is there something preventing you from making an offer on a suitable residence at present? And, if so, is the amount it would take to exit a lease worth waiting for the end of the lease in order to make a deal on a principal residence for you?

If so, my second question is, do you think the RE market will be lower and “less competitive” than it is at present, when you are finally ready to buy??[/quote]

Not that it matters, but yes we have a lease until late spring, after which we’ll go month to month. Right now we are going when we have time – a couple days a month – to advertised open houses or to explore different neighborhoods. We’ll start looking more actively very soon though and if we find something that we like and it’s a good deal, we may break the lease a couple months early, no more. As a matter of fact I am still wondering if we should continue to rent for another year or two- and save more (if we put now 20% down we won’t have any cash reserves) and have a sweet commute in the mean time – and let the house market dust settle. I believe that the housing market will be lower in a couple years, even if rates will be higher. I am not trying to argue this or connvince anybody, just my gut feeling. I am wondering if I should be waiting for a true bottom, not necessarily for the lowest rates, which I believe we’ve seen already. Not that I want to time the bottom, I’d rather have the housing bottom behind us rather than possibly ahead, that’s all. On the other hand, we got to get on with our lives, settle in a nice house with yard and good schools, risks and stretching be damned. And who know with all this government intervention if the true bottom will even be reached in a couple years, if it’s not there already. It could be a slow decline over 10 yers.

But, to your point, in a few months we will be ready to pounce on a good deal that we LIKE as well. So far we haven’t seen something that we both loved as a deal as well as a home. Quite a few ok, but they weren’t calling our names.

[Scarlett]

[quote=SD Realtor]So I am not sure about the statement about San Carlos being the same distance to La Jolla as PQ or Scripps. That said the TIME from Scripps or PQ to La Jolla may not appreciably differ because those commutes suck as well. I am very familar with them.[/quote]

You have a good point there. It seems, based on speed sensors data, that the rush hour = slow traffic on 52 is not as spread out as let’s say 5 or 56 (which are like, 3 hrs), in other words allows more flexibility. From the LJ end of 52 to Mission Gorge takes 15′ at non rush and 25-30′ at rush hour, if I believe the sensor data. Add 10′ on each end on city streets for the commute. So commute wise San Carlos is not that bad. But PQ commute via 52 is better.

[Scarlett]

[quote=SD Realtor]So I am not sure about the statement about San Carlos being the same distance to La Jolla as PQ or Scripps. That said the TIME from Scripps or PQ to La Jolla may not appreciably differ because those commutes suck as well. I am very familar with them.[/quote]

You have a good point there. It seems, based on speed sensors data, that the rush hour = slow traffic on 52 is not as spread out as let’s say 5 or 56 (which are like, 3 hrs), in other words allows more flexibility. From the LJ end of 52 to Mission Gorge takes 15′ at non rush and 25-30′ at rush hour, if I believe the sensor data. Add 10′ on each end on city streets for the commute. So commute wise San Carlos is not that bad. But PQ commute via 52 is better.

[Scarlett]

[quote=SD Realtor]So I am not sure about the statement about San Carlos being the same distance to La Jolla as PQ or Scripps. That said the TIME from Scripps or PQ to La Jolla may not appreciably differ because those commutes suck as well. I am very familar with them.[/quote]

You have a good point there. It seems, based on speed sensors data, that the rush hour = slow traffic on 52 is not as spread out as let’s say 5 or 56 (which are like, 3 hrs), in other words allows more flexibility. From the LJ end of 52 to Mission Gorge takes 15′ at non rush and 25-30′ at rush hour, if I believe the sensor data. Add 10′ on each end on city streets for the commute. So commute wise San Carlos is not that bad. But PQ commute via 52 is better.

[Scarlett]

[quote=SD Realtor]So I am not sure about the statement about San Carlos being the same distance to La Jolla as PQ or Scripps. That said the TIME from Scripps or PQ to La Jolla may not appreciably differ because those commutes suck as well. I am very familar with them.[/quote]

You have a good point there. It seems, based on speed sensors data, that the rush hour = slow traffic on 52 is not as spread out as let’s say 5 or 56 (which are like, 3 hrs), in other words allows more flexibility. From the LJ end of 52 to Mission Gorge takes 15′ at non rush and 25-30′ at rush hour, if I believe the sensor data. Add 10′ on each end on city streets for the commute. So commute wise San Carlos is not that bad. But PQ commute via 52 is better.

[Scarlett]

[quote=SD Realtor]So I am not sure about the statement about San Carlos being the same distance to La Jolla as PQ or Scripps. That said the TIME from Scripps or PQ to La Jolla may not appreciably differ because those commutes suck as well. I am very familar with them.[/quote]

You have a good point there. It seems, based on speed sensors data, that the rush hour = slow traffic on 52 is not as spread out as let’s say 5 or 56 (which are like, 3 hrs), in other words allows more flexibility. From the LJ end of 52 to Mission Gorge takes 15′ at non rush and 25-30′ at rush hour, if I believe the sensor data. Add 10′ on each end on city streets for the commute. So commute wise San Carlos is not that bad. But PQ commute via 52 is better.

[Scarlett]

Thanks SDR, that was very informative. Your explanations make a lot of sense – the time of the year, the short sales and the unmotivated sellers. I think, looking at another well established community numbers – UC (92122)- that where there are a significant number of retirees that bought LONG time ago, the majority will not be very motivated, or willing to lower their prices. Hence, the increase in time on the market.

We plan to first see some open houses there, see if we are ok with the neighborhood and with old houses (haven’t been in many old houses), then we will ask our agent to do some legwork.

[Scarlett]

Thanks SDR, that was very informative. Your explanations make a lot of sense – the time of the year, the short sales and the unmotivated sellers. I think, looking at another well established community numbers – UC (92122)- that where there are a significant number of retirees that bought LONG time ago, the majority will not be very motivated, or willing to lower their prices. Hence, the increase in time on the market.

We plan to first see some open houses there, see if we are ok with the neighborhood and with old houses (haven’t been in many old houses), then we will ask our agent to do some legwork.

[Scarlett]

Thanks SDR, that was very informative. Your explanations make a lot of sense – the time of the year, the short sales and the unmotivated sellers. I think, looking at another well established community numbers – UC (92122)- that where there are a significant number of retirees that bought LONG time ago, the majority will not be very motivated, or willing to lower their prices. Hence, the increase in time on the market.

We plan to first see some open houses there, see if we are ok with the neighborhood and with old houses (haven’t been in many old houses), then we will ask our agent to do some legwork.

[Scarlett]

Thanks SDR, that was very informative. Your explanations make a lot of sense – the time of the year, the short sales and the unmotivated sellers. I think, looking at another well established community numbers – UC (92122)- that where there are a significant number of retirees that bought LONG time ago, the majority will not be very motivated, or willing to lower their prices. Hence, the increase in time on the market.

We plan to first see some open houses there, see if we are ok with the neighborhood and with old houses (haven’t been in many old houses), then we will ask our agent to do some legwork.

[Author]

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