[SD Realtor]

Those of you who said they will sit you are correct in my opinion. I think the vast majority of them will simply stay where they are at. If that means it will semi-permanently postpone a relocation or downsize of sometype then so be it. Again most of these people can afford to sit and they will. Their mistake is an emotional attachment coupled with some sort of self entitlement that they deserve simply because of what their neighbors got in the recent years. I think most of them believe a short adjustment is here rather then a prolonged secular change that will run for several years. What is even more disturbing is in some cases (few but some) they will get a sale… there are buyers out there… less then what there were, but there are some and they are spending money here and there.

SD Realtor

[SD Realtor]

NSR even if it is the slums of La Jolla your point is well taken…

SD Realtor

[SD Realtor]

Damn good post Dr. Chaos.

Don’t forget Norv Turner, Ted Cotrell and Quentin Jammer.

SD Realtor

[SD Realtor]

Don’t know if a NOD has been served. Also SFR 1 is on MT Soledad and SFR 2 and 3 are Ridgegate which is that development that sits at the 5/52 intersection.

SD Realtor

[SD Realtor]

Larry it is almost comical but I have seen 7 figure transactions go south for spats of thousands of dollars. Usually it is because of underlying emotion rather then the economics of the situation. No matter what either party says, they always both fall back on the same line, “it is the principle of the situation” or something of that nature.

If this is a home you really do love and will be staying there for a long long time then between all parties and agents involved, somebody should just say “let’s get it done.” HLS really captured it right. Alot of people are making alot of money.

Now regarding earnest money, yes escrow is holding the deposit but as indicated by Rustico, escrow will need to receive authorization by both parties to cancel escrow if you cannot reach a resolution. Similarly escrow will also need to be authorized by the seller to release the entire deposit back to you. If there is a dispute (such as the seller keeping part of the deposit) then there are avenues you can take to try to retreive it. Consult with your realtor and they can discuss your options.

BTW it is certainly well within the sellers right to ask for a second opinion for inspections that you have had performed. Again, consult your realtor on this request. Perhaps having your inspector present while the sellers inspector performs their own inspection would be an amiable way to make sure everyone is on the same page?

SD Realtor

[SD Realtor]

Correct Rus… I would imagine that a number of people who post here who have jobs as engineers, or nice 6 figure income jobs with large corporations. In fact I am one of them. I have said it before and will say it again, I would also imagine many a poster here has not been through a severe recession yet. Once again, my post is simply one of those be careful what you wish for posts. Obviously the steps you have taken are prudent to insulate yourself.

Now of course many here are not in a situation where they have to worry. Let’s face it, this entire board does not represent what we would call even median income folks. The fact is (I would guess) that the income level of most who post or lurk here, is higher, perhaps much higher, then the median. Also that many who post are much more highly educated then the average person.

Your words are sage advice…

With respect to a bail out, if there is a sh-tstorm that some predict, there will be no bailout…there will not be any money for a bailout.

*******

Good reading for people… The Forgotten Man. This book brings up good points about how the government made the depression much worse then it had to be… (IMO)…

SD Realtor

[SD Realtor]

In line with what temeculaguy said… my analogy is the buffalo – jets game… You know they both suck… you know someone will score sometime…we just are not positive when and how much it will be… so we have to watch the whole cruddy game or most of it until we know the outcome…

or something better comes along…

SD Realtor

[SD Realtor]

I would agree about the great deals being everywhere. As long has everyone also has there own job then it is a slam dunk to buy… For people to espouse a sh-tstorm and not acknowledge extreme unemployment in non related sectors is a total fallacy. I like how it is conveniently sidestepped. I guess nobody really worries about it…I guess everyone must be a nurse or have a total recession proof job.

SD Realtor

[SD Realtor]

Actually in the upcoming housing induced recession small businesses will be driven out of the market first. Mega’s like Walmart will survive by continuing to slash pricing for goods.

Unfortunately we cannot have our cake and eat it to. If the housing induced recession is as large as some people portray it to be many jobs will be lost. Engineers and realtors alike will be looking for jobs.

[SD Realtor]

Little Lady sit tight if you can. Your earlier post about having loan approval in hand and such was alarming…I am sure you know better then to think of buying now.

I have a client who is chomping at the bit for a place in Santee as well. She is very excited because of the price drops there and I keep telling her to sit tight for another 2 years if possible. She wants to buy so bad… I can hear it in her voice every time we talk… I don’t think she will hold out for 2 years but if I can get her to sit until at least next fall that would be good.

SD Realtor

[SD Realtor]

Yes Raptor Camino de Arriba is one of the “high” streets… I don’t know if it is the highest, but if I were going to live out there then I would get one of the homes on the top of the hill as opposed to the ones down near the clubhouse… Agreed though, it would not be a fun road to travel on a rainy day… However the rain we have here in SD pales in comparison to bay area rain.

San Diego Native really made a good point… I think that over a very short period of time you would find that the drive to basically ANYWHERE from Cielo or even most all of the Covenent would get really old really fast. Especially if you want your relatives to come over alot or if you visit them alot.

[SD Realtor]

gn you are correct… they really pump up the cost of the upgrades…. it is crazy how much they charge per upgrade.

SD Realtor

[SD Realtor]

Alex maybe it is like that Seinfeld episode where the AMA has a file on Elaine…

Perhaps all of the agents have a file on you…

SD Realtor

[SD Realtor]

raptorduck I don’t want to plug Cielo to much. I do have a listing up there, (a lot) not a finished home… and you are indeed correct that the views are incredible. This one lot in particular has a southwest view that is spectacular and cannot be matched in any of the areas you mentioned.

I cannot argue with that one for a second. However I just stick to my guns for FB and areas down in the valley so to speak. Also Cielo is just about as inconvenient a location as anywhere out that way. To get ANYWHERE you have to travel a ways just to hit the freeway. To get to 15 you have to trek back up through Lake Hodges. You cannot even make it across to 56 because you have to be a member of the Crosby to cut across… so that means you have to go west to get to the 5… not easy….

Also many of the view lots at the top of Cielo on Camino de Arriba are great view lots, but alot of the lot sq footage is on unusable slope so you will not have a huge backyard given the size of the lot. Again though, the view lots up top have smoking views, you cannot argue with that…. just a wild guess here but is your agent a Prudential Realtor?

SD Realtor

[SD Realtor]

My sentiment is kind of with Rich’s… The credit collapse was swift but for people to not acknowledge that the secondary market has already loosened is denial. There still are financing vehicles out there that provide easy money. The fundamental sacrificing of traditional limits for FHA will exascerbate the problem.

My biggest miscalculation was the significant reluctance of people in power (both political and economic) to actually let this country endure what it needs to go through to become strong again. In my estimation this will only serve to prolong the current condition rather then let it run the desired and much healthier natural course.

From the housing standpoint I am satisified with the pace of depreciation of speculative areas, condominiums and lower/middle neighborhoods. I am very disappointed with the pace depreciation of the more desireable neighborhoods. My second biggest miscalculation was that even in conditions like this, many people still will buy homes in these areas. Perhaps not as many as there used to be, but way more then I thought would be.

SD Realtor

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