[sdcellar]

Yep, I remember you saying it and thought you stood a good chance of being right, even though I personally just don’t get it (and therefore would never make such a bold prediction myself).

How the heck can credit be so cheap when there’s this supposed credit crunch? I’m told it has something to do with printing trillions of dollars or something…

[sdcellar]

SD R– to answer your question, back when I originally started looking, it was 92127, but that has slowly (quickly?) expanded to include surrounding areas like Poway, Scripps and newer PQ. Then to west CV, CV proper and up the coast as well.

The reason I’ve expanded my search areas isn’t due to a dearth of inventory, but simply because more and more properties are within (or at least approaching) reach. Still stupid in many cases, but heading the right way.

Now, I’m not saying inventory hasn’t decreased because it has, but there’s still a lot out there. I could buy a nice house _today_ that is so much less expensive than it was when I first started looking in 2006. I only need one house.

Also, with regard to your comment that a lot of what I “see” is shorts and REO, I don’t disagree. I also agree that some of them you’re not going to be able to buy tomorrow, but if you’re patient (and why shouldn’t one be), you can just keep pecking away. Some of these that they aren’t taking any more offers on, don’t get sold to anyone, at least not yet. So, like the terminator, they’ll be back.

Finally, what I think, perhaps, you and others are seeing are buyers who just aren’t willing to settle. The house has to be pretty much perfect *and* at the right price. The problem is that the right price is a moving target. That is, for me (for example), there indeed is no inventory.

[sdcellar]

SD R– to answer your question, back when I originally started looking, it was 92127, but that has slowly (quickly?) expanded to include surrounding areas like Poway, Scripps and newer PQ. Then to west CV, CV proper and up the coast as well.

The reason I’ve expanded my search areas isn’t due to a dearth of inventory, but simply because more and more properties are within (or at least approaching) reach. Still stupid in many cases, but heading the right way.

Now, I’m not saying inventory hasn’t decreased because it has, but there’s still a lot out there. I could buy a nice house _today_ that is so much less expensive than it was when I first started looking in 2006. I only need one house.

Also, with regard to your comment that a lot of what I “see” is shorts and REO, I don’t disagree. I also agree that some of them you’re not going to be able to buy tomorrow, but if you’re patient (and why shouldn’t one be), you can just keep pecking away. Some of these that they aren’t taking any more offers on, don’t get sold to anyone, at least not yet. So, like the terminator, they’ll be back.

Finally, what I think, perhaps, you and others are seeing are buyers who just aren’t willing to settle. The house has to be pretty much perfect *and* at the right price. The problem is that the right price is a moving target. That is, for me (for example), there indeed is no inventory.

[sdcellar]

SD R– to answer your question, back when I originally started looking, it was 92127, but that has slowly (quickly?) expanded to include surrounding areas like Poway, Scripps and newer PQ. Then to west CV, CV proper and up the coast as well.

The reason I’ve expanded my search areas isn’t due to a dearth of inventory, but simply because more and more properties are within (or at least approaching) reach. Still stupid in many cases, but heading the right way.

Now, I’m not saying inventory hasn’t decreased because it has, but there’s still a lot out there. I could buy a nice house _today_ that is so much less expensive than it was when I first started looking in 2006. I only need one house.

Also, with regard to your comment that a lot of what I “see” is shorts and REO, I don’t disagree. I also agree that some of them you’re not going to be able to buy tomorrow, but if you’re patient (and why shouldn’t one be), you can just keep pecking away. Some of these that they aren’t taking any more offers on, don’t get sold to anyone, at least not yet. So, like the terminator, they’ll be back.

Finally, what I think, perhaps, you and others are seeing are buyers who just aren’t willing to settle. The house has to be pretty much perfect *and* at the right price. The problem is that the right price is a moving target. That is, for me (for example), there indeed is no inventory.

[sdcellar]

SD R– to answer your question, back when I originally started looking, it was 92127, but that has slowly (quickly?) expanded to include surrounding areas like Poway, Scripps and newer PQ. Then to west CV, CV proper and up the coast as well.

The reason I’ve expanded my search areas isn’t due to a dearth of inventory, but simply because more and more properties are within (or at least approaching) reach. Still stupid in many cases, but heading the right way.

Now, I’m not saying inventory hasn’t decreased because it has, but there’s still a lot out there. I could buy a nice house _today_ that is so much less expensive than it was when I first started looking in 2006. I only need one house.

Also, with regard to your comment that a lot of what I “see” is shorts and REO, I don’t disagree. I also agree that some of them you’re not going to be able to buy tomorrow, but if you’re patient (and why shouldn’t one be), you can just keep pecking away. Some of these that they aren’t taking any more offers on, don’t get sold to anyone, at least not yet. So, like the terminator, they’ll be back.

Finally, what I think, perhaps, you and others are seeing are buyers who just aren’t willing to settle. The house has to be pretty much perfect *and* at the right price. The problem is that the right price is a moving target. That is, for me (for example), there indeed is no inventory.

[sdcellar]

SD R– to answer your question, back when I originally started looking, it was 92127, but that has slowly (quickly?) expanded to include surrounding areas like Poway, Scripps and newer PQ. Then to west CV, CV proper and up the coast as well.

The reason I’ve expanded my search areas isn’t due to a dearth of inventory, but simply because more and more properties are within (or at least approaching) reach. Still stupid in many cases, but heading the right way.

Now, I’m not saying inventory hasn’t decreased because it has, but there’s still a lot out there. I could buy a nice house _today_ that is so much less expensive than it was when I first started looking in 2006. I only need one house.

Also, with regard to your comment that a lot of what I “see” is shorts and REO, I don’t disagree. I also agree that some of them you’re not going to be able to buy tomorrow, but if you’re patient (and why shouldn’t one be), you can just keep pecking away. Some of these that they aren’t taking any more offers on, don’t get sold to anyone, at least not yet. So, like the terminator, they’ll be back.

Finally, what I think, perhaps, you and others are seeing are buyers who just aren’t willing to settle. The house has to be pretty much perfect *and* at the right price. The problem is that the right price is a moving target. That is, for me (for example), there indeed is no inventory.

[sdcellar]

jpinpb–

While I genuinely think AN is trying to give you good advice, don’t overlook his tendency to tweak the numbers to support his arguments (although I suppose we all do). The loan rates will generally be lower than anything you can find, the rents higher and, of course, it all ties to a nifty blue area on a map that tells him he made a good purchase.

However, the odds of losing equity in the near term are still pretty high. Now, I’m fine with that if said buyer is, as I agree there are other personal factors as to why you might decide to buy at any given time in your life, but I just tire of all the rationalization. If you’re okay with it, then be okay with it. Please don’t remind me how shrewd you’ve been. At least not right now. If it should turn out different down the road, then kudos, but the odds are not in one’s favor.

I suppose what put me over the edge is the discussion of 20% down like it’s nothing. I’ll agree that the opportunity cost is about 0% on annual basis right now (see, I’m trying to estimate conservatively), but you don’t need a depreciating asset eating away at that either and jpinpb, you were right to point that out. And I don’t care about whether you’re going to make it back in the long run because in my experience many circumstances can interfere with that and lost money is lost money, you’ll just have more to make up “in the long run”

[sdcellar]

jpinpb–

While I genuinely think AN is trying to give you good advice, don’t overlook his tendency to tweak the numbers to support his arguments (although I suppose we all do). The loan rates will generally be lower than anything you can find, the rents higher and, of course, it all ties to a nifty blue area on a map that tells him he made a good purchase.

However, the odds of losing equity in the near term are still pretty high. Now, I’m fine with that if said buyer is, as I agree there are other personal factors as to why you might decide to buy at any given time in your life, but I just tire of all the rationalization. If you’re okay with it, then be okay with it. Please don’t remind me how shrewd you’ve been. At least not right now. If it should turn out different down the road, then kudos, but the odds are not in one’s favor.

I suppose what put me over the edge is the discussion of 20% down like it’s nothing. I’ll agree that the opportunity cost is about 0% on annual basis right now (see, I’m trying to estimate conservatively), but you don’t need a depreciating asset eating away at that either and jpinpb, you were right to point that out. And I don’t care about whether you’re going to make it back in the long run because in my experience many circumstances can interfere with that and lost money is lost money, you’ll just have more to make up “in the long run”

[sdcellar]

jpinpb–

While I genuinely think AN is trying to give you good advice, don’t overlook his tendency to tweak the numbers to support his arguments (although I suppose we all do). The loan rates will generally be lower than anything you can find, the rents higher and, of course, it all ties to a nifty blue area on a map that tells him he made a good purchase.

However, the odds of losing equity in the near term are still pretty high. Now, I’m fine with that if said buyer is, as I agree there are other personal factors as to why you might decide to buy at any given time in your life, but I just tire of all the rationalization. If you’re okay with it, then be okay with it. Please don’t remind me how shrewd you’ve been. At least not right now. If it should turn out different down the road, then kudos, but the odds are not in one’s favor.

I suppose what put me over the edge is the discussion of 20% down like it’s nothing. I’ll agree that the opportunity cost is about 0% on annual basis right now (see, I’m trying to estimate conservatively), but you don’t need a depreciating asset eating away at that either and jpinpb, you were right to point that out. And I don’t care about whether you’re going to make it back in the long run because in my experience many circumstances can interfere with that and lost money is lost money, you’ll just have more to make up “in the long run”

[sdcellar]

jpinpb–

While I genuinely think AN is trying to give you good advice, don’t overlook his tendency to tweak the numbers to support his arguments (although I suppose we all do). The loan rates will generally be lower than anything you can find, the rents higher and, of course, it all ties to a nifty blue area on a map that tells him he made a good purchase.

However, the odds of losing equity in the near term are still pretty high. Now, I’m fine with that if said buyer is, as I agree there are other personal factors as to why you might decide to buy at any given time in your life, but I just tire of all the rationalization. If you’re okay with it, then be okay with it. Please don’t remind me how shrewd you’ve been. At least not right now. If it should turn out different down the road, then kudos, but the odds are not in one’s favor.

I suppose what put me over the edge is the discussion of 20% down like it’s nothing. I’ll agree that the opportunity cost is about 0% on annual basis right now (see, I’m trying to estimate conservatively), but you don’t need a depreciating asset eating away at that either and jpinpb, you were right to point that out. And I don’t care about whether you’re going to make it back in the long run because in my experience many circumstances can interfere with that and lost money is lost money, you’ll just have more to make up “in the long run”

[sdcellar]

jpinpb–

While I genuinely think AN is trying to give you good advice, don’t overlook his tendency to tweak the numbers to support his arguments (although I suppose we all do). The loan rates will generally be lower than anything you can find, the rents higher and, of course, it all ties to a nifty blue area on a map that tells him he made a good purchase.

However, the odds of losing equity in the near term are still pretty high. Now, I’m fine with that if said buyer is, as I agree there are other personal factors as to why you might decide to buy at any given time in your life, but I just tire of all the rationalization. If you’re okay with it, then be okay with it. Please don’t remind me how shrewd you’ve been. At least not right now. If it should turn out different down the road, then kudos, but the odds are not in one’s favor.

I suppose what put me over the edge is the discussion of 20% down like it’s nothing. I’ll agree that the opportunity cost is about 0% on annual basis right now (see, I’m trying to estimate conservatively), but you don’t need a depreciating asset eating away at that either and jpinpb, you were right to point that out. And I don’t care about whether you’re going to make it back in the long run because in my experience many circumstances can interfere with that and lost money is lost money, you’ll just have more to make up “in the long run”

[sdcellar]

you know, I don’t know what all the hub-bub is about. Maybe it’s just the areas I follow and the price ranges I’m looking at, but I see *plenty* of inventory and many nice properties within that. And the prices continue to tick downward.

According to some of our “men in the street”, it’s real slim pickin’s out there, but I just don’t see it.

It might be near the bottom at the lower end, but the rest is still falling.

[sdcellar]

you know, I don’t know what all the hub-bub is about. Maybe it’s just the areas I follow and the price ranges I’m looking at, but I see *plenty* of inventory and many nice properties within that. And the prices continue to tick downward.

According to some of our “men in the street”, it’s real slim pickin’s out there, but I just don’t see it.

It might be near the bottom at the lower end, but the rest is still falling.

[sdcellar]

you know, I don’t know what all the hub-bub is about. Maybe it’s just the areas I follow and the price ranges I’m looking at, but I see *plenty* of inventory and many nice properties within that. And the prices continue to tick downward.

According to some of our “men in the street”, it’s real slim pickin’s out there, but I just don’t see it.

It might be near the bottom at the lower end, but the rest is still falling.

[sdcellar]

you know, I don’t know what all the hub-bub is about. Maybe it’s just the areas I follow and the price ranges I’m looking at, but I see *plenty* of inventory and many nice properties within that. And the prices continue to tick downward.

According to some of our “men in the street”, it’s real slim pickin’s out there, but I just don’t see it.

It might be near the bottom at the lower end, but the rest is still falling.

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