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SD Realtor
ParticipantHi Murf
Well, the answer to your question is unique for each person. What I would feel comfortable paying is based on my on budget. We are making an offer that would result in a housing payment that would be equivalent to our current rent after you run through the entire year. That would include paying property taxes, homeowners insurance, etc but then getting a refund back. The loss point of view is the interest on the CDs where the cash is currently located.
So suffice it to say that in order to get what I want we will carry a single 417k loan and pay for the rest of the home in cash.
I do project a pretty healthy depreciation on the price of the property but such is life. We will be there at least 18 years and I doubt they will take the offer anyway so it is an appeasement offer more then anything else.
In terms of type of property you pegged it, I want a large lot and neither my wife or myself are fans of new housing, nor will we pay Mello Roos. We also want a cul de sac, we don’t want the back of the home to be against power lines or a busy street…. We would ideally like something with wider easements so your neighbor is not looking into your yard or home. So basically if we can find something in good condition like that in a decent school district we will be okay with it.
Anyways, sorry if that is vague.. Basically our limit is the high 600’s or maybe 700 flat.
SD Realtor
ParticipantHi Murf
Well, the answer to your question is unique for each person. What I would feel comfortable paying is based on my on budget. We are making an offer that would result in a housing payment that would be equivalent to our current rent after you run through the entire year. That would include paying property taxes, homeowners insurance, etc but then getting a refund back. The loss point of view is the interest on the CDs where the cash is currently located.
So suffice it to say that in order to get what I want we will carry a single 417k loan and pay for the rest of the home in cash.
I do project a pretty healthy depreciation on the price of the property but such is life. We will be there at least 18 years and I doubt they will take the offer anyway so it is an appeasement offer more then anything else.
In terms of type of property you pegged it, I want a large lot and neither my wife or myself are fans of new housing, nor will we pay Mello Roos. We also want a cul de sac, we don’t want the back of the home to be against power lines or a busy street…. We would ideally like something with wider easements so your neighbor is not looking into your yard or home. So basically if we can find something in good condition like that in a decent school district we will be okay with it.
Anyways, sorry if that is vague.. Basically our limit is the high 600’s or maybe 700 flat.
SD Realtor
ParticipantHi Murf
Well, the answer to your question is unique for each person. What I would feel comfortable paying is based on my on budget. We are making an offer that would result in a housing payment that would be equivalent to our current rent after you run through the entire year. That would include paying property taxes, homeowners insurance, etc but then getting a refund back. The loss point of view is the interest on the CDs where the cash is currently located.
So suffice it to say that in order to get what I want we will carry a single 417k loan and pay for the rest of the home in cash.
I do project a pretty healthy depreciation on the price of the property but such is life. We will be there at least 18 years and I doubt they will take the offer anyway so it is an appeasement offer more then anything else.
In terms of type of property you pegged it, I want a large lot and neither my wife or myself are fans of new housing, nor will we pay Mello Roos. We also want a cul de sac, we don’t want the back of the home to be against power lines or a busy street…. We would ideally like something with wider easements so your neighbor is not looking into your yard or home. So basically if we can find something in good condition like that in a decent school district we will be okay with it.
Anyways, sorry if that is vague.. Basically our limit is the high 600’s or maybe 700 flat.
SD Realtor
Participantscrenter I would absolutely pass on making a choice of where I am going to plunk down 3/4 of a million dollars based on an internet blog.
Both of the communities you mentioned are a landing point for youger families who have strong income. Both communities are fairly generic from the standpoint of neither having any strong history, and basically both of them being master planned communities. More then likely both of them will hit you with Mello Roos. Both have very good school districts.
My advice would be that if you are relocating then I would absolutely rent in one of them to see if it is a match. Both developments have pros and cons. If someone is saying that 4S by far and away has more character then CV then I would say perhaps… however on a grand scale it they are both similar to having a manufactured master planned community character then say more well established communities in San Diego.
Price is driven by demand so the higher pricing in CV indicates a stronger demand. The primary cause is that CV is much closer to the engineering and biotech firms located in the Golden Triangle.
SD Realtor
Participantscrenter I would absolutely pass on making a choice of where I am going to plunk down 3/4 of a million dollars based on an internet blog.
Both of the communities you mentioned are a landing point for youger families who have strong income. Both communities are fairly generic from the standpoint of neither having any strong history, and basically both of them being master planned communities. More then likely both of them will hit you with Mello Roos. Both have very good school districts.
My advice would be that if you are relocating then I would absolutely rent in one of them to see if it is a match. Both developments have pros and cons. If someone is saying that 4S by far and away has more character then CV then I would say perhaps… however on a grand scale it they are both similar to having a manufactured master planned community character then say more well established communities in San Diego.
Price is driven by demand so the higher pricing in CV indicates a stronger demand. The primary cause is that CV is much closer to the engineering and biotech firms located in the Golden Triangle.
SD Realtor
Participantscrenter I would absolutely pass on making a choice of where I am going to plunk down 3/4 of a million dollars based on an internet blog.
Both of the communities you mentioned are a landing point for youger families who have strong income. Both communities are fairly generic from the standpoint of neither having any strong history, and basically both of them being master planned communities. More then likely both of them will hit you with Mello Roos. Both have very good school districts.
My advice would be that if you are relocating then I would absolutely rent in one of them to see if it is a match. Both developments have pros and cons. If someone is saying that 4S by far and away has more character then CV then I would say perhaps… however on a grand scale it they are both similar to having a manufactured master planned community character then say more well established communities in San Diego.
Price is driven by demand so the higher pricing in CV indicates a stronger demand. The primary cause is that CV is much closer to the engineering and biotech firms located in the Golden Triangle.
SD Realtor
Participantscrenter I would absolutely pass on making a choice of where I am going to plunk down 3/4 of a million dollars based on an internet blog.
Both of the communities you mentioned are a landing point for youger families who have strong income. Both communities are fairly generic from the standpoint of neither having any strong history, and basically both of them being master planned communities. More then likely both of them will hit you with Mello Roos. Both have very good school districts.
My advice would be that if you are relocating then I would absolutely rent in one of them to see if it is a match. Both developments have pros and cons. If someone is saying that 4S by far and away has more character then CV then I would say perhaps… however on a grand scale it they are both similar to having a manufactured master planned community character then say more well established communities in San Diego.
Price is driven by demand so the higher pricing in CV indicates a stronger demand. The primary cause is that CV is much closer to the engineering and biotech firms located in the Golden Triangle.
SD Realtor
Participantscrenter I would absolutely pass on making a choice of where I am going to plunk down 3/4 of a million dollars based on an internet blog.
Both of the communities you mentioned are a landing point for youger families who have strong income. Both communities are fairly generic from the standpoint of neither having any strong history, and basically both of them being master planned communities. More then likely both of them will hit you with Mello Roos. Both have very good school districts.
My advice would be that if you are relocating then I would absolutely rent in one of them to see if it is a match. Both developments have pros and cons. If someone is saying that 4S by far and away has more character then CV then I would say perhaps… however on a grand scale it they are both similar to having a manufactured master planned community character then say more well established communities in San Diego.
Price is driven by demand so the higher pricing in CV indicates a stronger demand. The primary cause is that CV is much closer to the engineering and biotech firms located in the Golden Triangle.
SD Realtor
ParticipantGuitar those are good comments. I am not sure how readily available bulk purchases are and on the other hand, bulk purchases are generally made by investors who then want to flip the properties. For Joe homebuyer just looking to purchase a home and get a smokin deal obtaining more obscure data such as how much an REO went for at auction is manual… Pretty much digging through the tax roll…Grinder….
One thing that is absolutely happening is that yes REO pricing does seem to be adjusting to reality a bit more. Again most REO properties do indeed hit the MLS. At any rate as more and more properties that sell do so as a result of a distress sale, the LESS you will have to adjust the median. Indeed, I do think the markedly lower median of November was due to the result of a much larger distress component.
My point is that perhaps you will not need to adjust the median numbers at all, you can simply use it because it may be composed of a heavy dose of distress sales.
It all depends on the neighborhood you are looking at. (I suppose)
SD Realtor
ParticipantGuitar those are good comments. I am not sure how readily available bulk purchases are and on the other hand, bulk purchases are generally made by investors who then want to flip the properties. For Joe homebuyer just looking to purchase a home and get a smokin deal obtaining more obscure data such as how much an REO went for at auction is manual… Pretty much digging through the tax roll…Grinder….
One thing that is absolutely happening is that yes REO pricing does seem to be adjusting to reality a bit more. Again most REO properties do indeed hit the MLS. At any rate as more and more properties that sell do so as a result of a distress sale, the LESS you will have to adjust the median. Indeed, I do think the markedly lower median of November was due to the result of a much larger distress component.
My point is that perhaps you will not need to adjust the median numbers at all, you can simply use it because it may be composed of a heavy dose of distress sales.
It all depends on the neighborhood you are looking at. (I suppose)
SD Realtor
ParticipantGuitar those are good comments. I am not sure how readily available bulk purchases are and on the other hand, bulk purchases are generally made by investors who then want to flip the properties. For Joe homebuyer just looking to purchase a home and get a smokin deal obtaining more obscure data such as how much an REO went for at auction is manual… Pretty much digging through the tax roll…Grinder….
One thing that is absolutely happening is that yes REO pricing does seem to be adjusting to reality a bit more. Again most REO properties do indeed hit the MLS. At any rate as more and more properties that sell do so as a result of a distress sale, the LESS you will have to adjust the median. Indeed, I do think the markedly lower median of November was due to the result of a much larger distress component.
My point is that perhaps you will not need to adjust the median numbers at all, you can simply use it because it may be composed of a heavy dose of distress sales.
It all depends on the neighborhood you are looking at. (I suppose)
SD Realtor
ParticipantGuitar those are good comments. I am not sure how readily available bulk purchases are and on the other hand, bulk purchases are generally made by investors who then want to flip the properties. For Joe homebuyer just looking to purchase a home and get a smokin deal obtaining more obscure data such as how much an REO went for at auction is manual… Pretty much digging through the tax roll…Grinder….
One thing that is absolutely happening is that yes REO pricing does seem to be adjusting to reality a bit more. Again most REO properties do indeed hit the MLS. At any rate as more and more properties that sell do so as a result of a distress sale, the LESS you will have to adjust the median. Indeed, I do think the markedly lower median of November was due to the result of a much larger distress component.
My point is that perhaps you will not need to adjust the median numbers at all, you can simply use it because it may be composed of a heavy dose of distress sales.
It all depends on the neighborhood you are looking at. (I suppose)
SD Realtor
ParticipantGuitar those are good comments. I am not sure how readily available bulk purchases are and on the other hand, bulk purchases are generally made by investors who then want to flip the properties. For Joe homebuyer just looking to purchase a home and get a smokin deal obtaining more obscure data such as how much an REO went for at auction is manual… Pretty much digging through the tax roll…Grinder….
One thing that is absolutely happening is that yes REO pricing does seem to be adjusting to reality a bit more. Again most REO properties do indeed hit the MLS. At any rate as more and more properties that sell do so as a result of a distress sale, the LESS you will have to adjust the median. Indeed, I do think the markedly lower median of November was due to the result of a much larger distress component.
My point is that perhaps you will not need to adjust the median numbers at all, you can simply use it because it may be composed of a heavy dose of distress sales.
It all depends on the neighborhood you are looking at. (I suppose)
SD Realtor
ParticipantHey murf2222 that sounds pretty cool.
We may all have to start a support group… We can call it spouses united for economic sanity. Seriously though I threw a lowball offer at the home up the street that is a FSBO. We have been eyeballing it for awhile as the owner told us he was going to sell it several months ago. So a few weeks ago he put a sign out front. I doubt he will take the offer but I have appeased my wife although tonite we had a good row about the topic in general….. a road we have travelled down many times.
Anyways have strength.
SD Realtor
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