Forum Replies Created
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AuthorPosts
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SD Realtor
ParticipantJimmy can do… it will be a late night property search after the kids are down…
SD Realtor
ParticipantHi Jimmy –
Hey it would be much easier for me to send you the MLS information directly rather then look it up and print it out here. If you can just put your email address on this thread I can send it directly to you. If you like I can post the results on this thread but I would need to do it off hours…
SD Realtor
ParticipantHi Jimmy –
Hey it would be much easier for me to send you the MLS information directly rather then look it up and print it out here. If you can just put your email address on this thread I can send it directly to you. If you like I can post the results on this thread but I would need to do it off hours…
SD Realtor
ParticipantHey it is being offered by our friend Jim Klinge. Jim is a very good guy. Hey has posted on Piggington before. If you called him he could give you all the information you need. Just browsing the MLS this home has been listed before with Prudential at 2.46M. The home on Via Ascenso that is about 1000 sq feet less is in escrow at a list price 2.295 but we will not know the sales price until closing. While it is 1000 sq feet smaller and more expensive it does have much better views while the home you mentioned does not have much of a view at all. This area is out next to The Bridges.
SD Realtor
ParticipantHey it is being offered by our friend Jim Klinge. Jim is a very good guy. Hey has posted on Piggington before. If you called him he could give you all the information you need. Just browsing the MLS this home has been listed before with Prudential at 2.46M. The home on Via Ascenso that is about 1000 sq feet less is in escrow at a list price 2.295 but we will not know the sales price until closing. While it is 1000 sq feet smaller and more expensive it does have much better views while the home you mentioned does not have much of a view at all. This area is out next to The Bridges.
SD Realtor
ParticipantMy thinking is FSD just used the 6.2% as a value to show an example of where and when the crossing point would be. Take the graph as an example of how to do the analysis, use whatever numbers you like. It is clear that real estate won’t appreciate forever. There was a simple question posed and FSD was trying to answer it using a set of assumptions that he selected without any input from the board. I would figure 6.2% was selected because that may have been a valid appreciation rate for that time period for that particular region.
SD Realtor
ParticipantMy thinking is FSD just used the 6.2% as a value to show an example of where and when the crossing point would be. Take the graph as an example of how to do the analysis, use whatever numbers you like. It is clear that real estate won’t appreciate forever. There was a simple question posed and FSD was trying to answer it using a set of assumptions that he selected without any input from the board. I would figure 6.2% was selected because that may have been a valid appreciation rate for that time period for that particular region.
SD Realtor
ParticipantGuys…
I try to confine my answers to the parameters of the original post.
Let’s try again…
The original post mentioned putting the money into the home, or putting it into a mutual fund or Berkshire Hathaway…
So given those parameters I like and still stick with my answer.
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Now given the deviations mentioned since my post let’s see…
lending – I agree that bad things do happen. I do not believe it is prudent to sock every last penny you have into the downpayment of a home. I absolutely agree with you there. No matter what your lifestyle is, you should ALWAYS have at least 6 months MINIMUM cash reserves available to deal with life in case of emergencies. Now the post did not state whether this person stuck every penny he had into the downpayment or not. It said nothing about other reserves he may have. While you assumed he put every penny he had (even outside the sale of his other home) into this house, I assumed opposite. So perhaps both of us our correct given our independent assumptions.
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Regarding putting it in a savings account and getting 5%. Please do not conveniently omit that he will be taxed on that interest. Also again, we don’t know what the difference is in what his payment would be, whether he got a jumbo or not. So again, it is speculative without more data to say if putting the move in a savings account or not would be better.
SD Realtor
ParticipantGuys…
I try to confine my answers to the parameters of the original post.
Let’s try again…
The original post mentioned putting the money into the home, or putting it into a mutual fund or Berkshire Hathaway…
So given those parameters I like and still stick with my answer.
*******
Now given the deviations mentioned since my post let’s see…
lending – I agree that bad things do happen. I do not believe it is prudent to sock every last penny you have into the downpayment of a home. I absolutely agree with you there. No matter what your lifestyle is, you should ALWAYS have at least 6 months MINIMUM cash reserves available to deal with life in case of emergencies. Now the post did not state whether this person stuck every penny he had into the downpayment or not. It said nothing about other reserves he may have. While you assumed he put every penny he had (even outside the sale of his other home) into this house, I assumed opposite. So perhaps both of us our correct given our independent assumptions.
*******
Regarding putting it in a savings account and getting 5%. Please do not conveniently omit that he will be taxed on that interest. Also again, we don’t know what the difference is in what his payment would be, whether he got a jumbo or not. So again, it is speculative without more data to say if putting the move in a savings account or not would be better.
SD Realtor
ParticipantHi Jimmy –
I do recall our conversation. Funny because the area you targetted is the area I rented in last year. We were at 11662 Cheryl Ridge Court which is on the market right now and it is on the second listing cycle.
Gimme a little bit of time and I will produce some numbers on this thread for ya…
SD Realtor
ParticipantHi Jimmy –
I do recall our conversation. Funny because the area you targetted is the area I rented in last year. We were at 11662 Cheryl Ridge Court which is on the market right now and it is on the second listing cycle.
Gimme a little bit of time and I will produce some numbers on this thread for ya…
SD Realtor
ParticipantJimmy if you identify the subdivision I may be able to help if I have time. Mira Mesa has some pretty variable areas. The properties off of Calle Cristobal are going to be a much different strata then some of the homes in other parts of Mira Mesa. Please specify an area and I will see what I can do.
SD Realtor
ParticipantJimmy if you identify the subdivision I may be able to help if I have time. Mira Mesa has some pretty variable areas. The properties off of Calle Cristobal are going to be a much different strata then some of the homes in other parts of Mira Mesa. Please specify an area and I will see what I can do.
SD Realtor
ParticipantIt is simply a risk play. We would all agree that buying the home may not be the best choice given the market conditions etc… Yet he will not have to worry about not paying the mortgage. I am in pretty much the same boat. We will be putting alot of cash down on a home. I cringe when I think about the return I “could” get with that down payment but my wife always reminds me about how much money I “could” lose on the flip side.
Anyways I think the point of the post was to question how you finance the home, not to beat the guy up for buying the home.
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