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SD Realtor
ParticipantSometimes just posting facts gets interpreted as being bullish…
SD Realtor
ParticipantThanks kaycee –
The point was to point out to the forum that there is 100% financing available.
I don’t advocate it, I would never do it personally, nor would I ever recommend for any of my clients to do it. It is also true that many fewer lenders are offering 100% programs and they are harder to find. However I would never post they are “all gone” until they really are all gone.
Hopefully people will not think this is a bullish post or anything like that.
SD Realtor
ParticipantThanks kaycee –
The point was to point out to the forum that there is 100% financing available.
I don’t advocate it, I would never do it personally, nor would I ever recommend for any of my clients to do it. It is also true that many fewer lenders are offering 100% programs and they are harder to find. However I would never post they are “all gone” until they really are all gone.
Hopefully people will not think this is a bullish post or anything like that.
SD Realtor
ParticipantThanks kaycee –
The point was to point out to the forum that there is 100% financing available.
I don’t advocate it, I would never do it personally, nor would I ever recommend for any of my clients to do it. It is also true that many fewer lenders are offering 100% programs and they are harder to find. However I would never post they are “all gone” until they really are all gone.
Hopefully people will not think this is a bullish post or anything like that.
SD Realtor
ParticipantMy advice is go ask a tax professional…
My unofficial advice would be to run through an example.
Lets say you bought a property for 300k. Let’s say you owned it for 5 years and you depreciated it say 3k per year. So after 5 years you have a total of 15k to recapture. Your new basis is essentially 285k. So whatever you sell the home for whether it is 350k or 250k, you need to use that adjusted basis to perform your gain or loss.
Again, verify this with your tax professional.
SD Realtor
ParticipantMy advice is go ask a tax professional…
My unofficial advice would be to run through an example.
Lets say you bought a property for 300k. Let’s say you owned it for 5 years and you depreciated it say 3k per year. So after 5 years you have a total of 15k to recapture. Your new basis is essentially 285k. So whatever you sell the home for whether it is 350k or 250k, you need to use that adjusted basis to perform your gain or loss.
Again, verify this with your tax professional.
SD Realtor
ParticipantMy advice is go ask a tax professional…
My unofficial advice would be to run through an example.
Lets say you bought a property for 300k. Let’s say you owned it for 5 years and you depreciated it say 3k per year. So after 5 years you have a total of 15k to recapture. Your new basis is essentially 285k. So whatever you sell the home for whether it is 350k or 250k, you need to use that adjusted basis to perform your gain or loss.
Again, verify this with your tax professional.
SD Realtor
ParticipantPeter the developers have done an excellent job maintaining demand by squeezing supply and offering incentives. Many people really enjoy the newly built homes and regardless of the market conditions, will continue to buy in these new subdivisions.
I would absolutely wait for a resale in the development if you can. I would absolutely wait for anything anywhere if you can. If your down is going to be 100% based on the proceeds from your sale then I would sell now, then rent, then buy later if at all possible. That way the nut you make on your sale will be safe and locked in, just don’t fritter it away anywhere.
The developers will always be able to offer better deals then resale property regardless of the market conditions because of the margins they make.
SD Realtor
ParticipantPeter the developers have done an excellent job maintaining demand by squeezing supply and offering incentives. Many people really enjoy the newly built homes and regardless of the market conditions, will continue to buy in these new subdivisions.
I would absolutely wait for a resale in the development if you can. I would absolutely wait for anything anywhere if you can. If your down is going to be 100% based on the proceeds from your sale then I would sell now, then rent, then buy later if at all possible. That way the nut you make on your sale will be safe and locked in, just don’t fritter it away anywhere.
The developers will always be able to offer better deals then resale property regardless of the market conditions because of the margins they make.
SD Realtor
ParticipantPeter the developers have done an excellent job maintaining demand by squeezing supply and offering incentives. Many people really enjoy the newly built homes and regardless of the market conditions, will continue to buy in these new subdivisions.
I would absolutely wait for a resale in the development if you can. I would absolutely wait for anything anywhere if you can. If your down is going to be 100% based on the proceeds from your sale then I would sell now, then rent, then buy later if at all possible. That way the nut you make on your sale will be safe and locked in, just don’t fritter it away anywhere.
The developers will always be able to offer better deals then resale property regardless of the market conditions because of the margins they make.
SD Realtor
ParticipantGotcha –
It will be interesting to see how long the trend line stays exponential. I am still bummed about the locales of the homes… For instance at the REDC auction just about every home was in a POS area…not really what I want. I do see a few of them in nicer areas and I think it was you or 4plex who posted the 92037 foreclosures as well…
They are coming….
SD Realtor
ParticipantGotcha –
It will be interesting to see how long the trend line stays exponential. I am still bummed about the locales of the homes… For instance at the REDC auction just about every home was in a POS area…not really what I want. I do see a few of them in nicer areas and I think it was you or 4plex who posted the 92037 foreclosures as well…
They are coming….
SD Realtor
ParticipantGotcha –
It will be interesting to see how long the trend line stays exponential. I am still bummed about the locales of the homes… For instance at the REDC auction just about every home was in a POS area…not really what I want. I do see a few of them in nicer areas and I think it was you or 4plex who posted the 92037 foreclosures as well…
They are coming….
SD Realtor
ParticipantHi Amy
SD Realtor here (as opposed to sdr). sdr is smack in the middle of that north county coastal and he is quite adept with those neighborhoods. I know them and have done work in them but have nowhere near the daily background that he does with those areas. I am more familiar as you head south down and also out on the I15 corridor east.
I agree with the assessment of Del Sur and Santa Luz. They are nice areas and IMO nicer then say the 4S Ranch bucket of homes. However as sdr said, they have hefty overhead with Mello Roos and HOA fees. Also for the price range you have mentioned I think you can get closer to the coast. The size of the yard and the school districts will be challenging. Solana Beach has older housing stock. If you are selective you will be able to find something you like in your price range with a large lot. My wife and I frequently look there but only in our dreams because of the prices. At your price range you can definitely find something there. The view thing is a possibility. In Carmel Valley so much of it is cookie cutter but there are older parts of CV to the west and north that may indeed fit your criteria. To be more specific there is a nice subdivision off of El Camino Real, north of Del Mar Heights road known as the Heights. These homes average about 2500 square feet but have no Mello Roos and about a 70 per month HOA. Lots sizes are okay, anywhere from 6000-9000 sf..not huge but you get a fair sized yard depending on the orientation of the home. Schools are good, and proximity to the coast blows away anything like Del Sur, or Santa Luz. Finally in that price range you have there is a possibility of getting something like Cardiff as well… again, the lot size (specially on the west of 5) is speculative.
sdr – what about something for here down towards the open space where El Camino dumps to Manchester? I don’t know that area to well. I am sure you know it better but it seems like there is some cool stuff tucked away back there that has more personality then Olivenhain… or am I mistaken.
SD Realtor
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