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SD Realtor
ParticipantI gave up trying to predict interest rates. We are inflating but so far it is hidden in basic necessities like food, utilities, etc… For sure nothing happens until after the election. At some point it will happen… could be a year could be 10 years down the road. I just don’t think that anything will happen organically though.
Also all of the programs I am referring to have to do with loan mods, principal reductions, etc… they have nothing to do with the attorneys general.
ParticipantYou seem to be conveniently discounting all of the programs that are gaining alot more traction that are intended to keep people in homes.
I don’t disagree with the walk away events happening however I think the effect will not be substantial and it has already been displayed that the govt is more then prepared to deal with the problem. I don’t believe that midlevel 700k homes in 4S or CV will be affected by 1 or 2 million dollar walkaways.
I have been saying over and over that once rates start moving up rapidly we will then see depreciation. I think it will be across the board for the most part as well. Finally the refinance craze has for the most part gobbled up all of the adjustables you are referring to. The programs now in place will for the most part eat up the remainders as there are no more appraisals needed and even underwater homeowners can refi.
ParticipantWe bought several homes at auction and it worked out very very well for us. We also got lucky.
I have discussed buying from auction many times on the blog.
Treehugger if you want some ideas you can pm me.
ParticipantIt is especially fun to read comments from experts on neighborhoods that they probably have never even visited before.
Participantwow ocr do you need to take a train to work since you live in a far flung zip code?
ParticipantDoc that has been the fastest 3 years ever. Correct me if I am wrong but I recall us talking about Venice Beach and Culver City. Seems like yesterday man. Good to hear you are coming back!
Participantwell put!
Participantkkun I think that the answer is a combination of things. Lets look at some numbers. Drawing a polygon area around the entire highlands area and looking at comps for homes over 2700 sf you get an average of 248 ppsf for sales over the past year. Now looking at “actives” using the same criteria you get an average list price of around 259 ppsf. This is not surprising as list price ppsf is always higher then actual sold price ppsf unless there is a mitigating circumstance such as disrepair or distress (short sale/reo). Now there is a current listing on Aspendell that is contingent at 800k. The ppsf for this home is 218!
While your generalization may or may not be correct about highlands pricing being generally higher I think there are mitigating circumstances. For instance highlands is a better location with regards to commute then Stonebridge. A HUGE monetary advantage lies with NO MR for the San Angelo homes (if I am not mistaken) and like an 86 buck a month HOA fee. (OCR can correct me on all that). Do you realize how much you save in the long run?
Now I am not saying that 11592 Aspendell is not overpriced. However I am saying that based on the numbers alone, I think the lack of recurring charges and the better commute indicates the highlands homes (for that grade/size of house) is a better value.
ParticipantWow I don’t even know where to start… First off I could not agree more with sdr. I would have to check previous posts but I believe that the DRE should absolutely segregate the practice of real estate and financing. Realtors should not engage in financing and mortgage brokers should not engage in real estate. I think most of the problems I have read about seem to occur when a person is doing both. It is a monstrosity of a conflict of interest.
Don’t even get me started on Elegado as well. Many a client has told me horror stories about the guy. I also have first hand experience submitting offers on his short sales awhile back and they received the same sort of black hole treatment that another high volume prominent realtor gave to short sale offers.
Buyers beware… if your mortgage broker offers you realtor services run…. if your realtor says they can do a loan for you run. Now if your realtor has some references for independent mortgage brokers it doesn’t hurt to include those references in your list of potential mortgage providers you intend to interview.
ParticipantHard to say if Stonebridge has bottomed out yet. I think the lower end of Stonebridge has indeed bottomed out or at least most all of the risk has been bled out. High end Stonebridge not so much.
Stonebridge verses 4S has always been an interesting comparison. IMO Stonebridge compares favorably if you only look at the home/lot. For many people however it does not work out as well. Bear in mind the following opinions I have heard over the years when I ask buyers to compare:
– Stonebridge is much harder to get in and out of.
– 4S has alot more infrastructure then Stonebridge
– Convenience of supermarkets etc is better in 4S.
– Commute to high tech is easier. (More Fwy)Again these are simply various opinions and by far the majority of young couples I have worked with preferred 4S over Stonebridge. With that said these are simply opinions and I have not heard many Stonebridge homeowners ever complain. In fact there are a few Stonebridge residents on this blog and they like it.
In terms of the ppsf remember that many homes in older Scripps are much smaller and ppsf goes down as the size of the home goes up. There are some other factors such as proximity to freeways and simply getting in and out of Scripps that contribute to the ppsf as well.
February 15, 2012 at 6:01 PM in reply to: OT: The Weekly Piggington User Forum Report, Issue #1. #738123ParticipantI would also like to see a FLU pick of the week. (stock pick)
February 12, 2012 at 10:24 AM in reply to: 329 Camino Del Postigo Escondido 92029, Anyone know about this development? #737774ParticipantLR Green and I think the other one is named La Costa are (from what I have heard) the two best elementary schools in that district.
Participant“Tsunami V5.0” I think that will happen about the same time as Ron Pauls inauguration.
ParticipantWhat you are missing is that you need to count all of the interest you paid prior to each and every refinance. You don’t seem to be counting that cost.
However if you simply count that interest as paying rent then yes, you are not doing badly.
The selloff in the bond market was pretty substantial today.
In order to gain any measure of whether your plan is successful or not we have to know how long you would own the home
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