[sdduuuude]

Rustico,

I think it’s a better flip than a rent and hold. I’d rather get out of it quickly – before Summer ends – as I suspect there is still room to fall in this area, especially on the canyon lots.

I look at the canyon lots in Clairmont as almost a different market from the non-canyon lots.

The standard clairemont Mt. Street home (3/2, 1250 sq. ft on a 5-6,000 sq. ft lot) has come down quite a bit – maybe 15% from $525K or so. But the canyon lots are behaving more like Carmel Valley than Temecula and have been retaining their value a bit better and there aren’t many up for sale either.

[sdduuuude]

Rustico,

I think it’s a better flip than a rent and hold. I’d rather get out of it quickly – before Summer ends – as I suspect there is still room to fall in this area, especially on the canyon lots.

I look at the canyon lots in Clairmont as almost a different market from the non-canyon lots.

The standard clairemont Mt. Street home (3/2, 1250 sq. ft on a 5-6,000 sq. ft lot) has come down quite a bit – maybe 15% from $525K or so. But the canyon lots are behaving more like Carmel Valley than Temecula and have been retaining their value a bit better and there aren’t many up for sale either.

[sdduuuude]

Rustico,

I think it’s a better flip than a rent and hold. I’d rather get out of it quickly – before Summer ends – as I suspect there is still room to fall in this area, especially on the canyon lots.

I look at the canyon lots in Clairmont as almost a different market from the non-canyon lots.

The standard clairemont Mt. Street home (3/2, 1250 sq. ft on a 5-6,000 sq. ft lot) has come down quite a bit – maybe 15% from $525K or so. But the canyon lots are behaving more like Carmel Valley than Temecula and have been retaining their value a bit better and there aren’t many up for sale either.

[sdduuuude]

Rustico,

I think it’s a better flip than a rent and hold. I’d rather get out of it quickly – before Summer ends – as I suspect there is still room to fall in this area, especially on the canyon lots.

I look at the canyon lots in Clairmont as almost a different market from the non-canyon lots.

The standard clairemont Mt. Street home (3/2, 1250 sq. ft on a 5-6,000 sq. ft lot) has come down quite a bit – maybe 15% from $525K or so. But the canyon lots are behaving more like Carmel Valley than Temecula and have been retaining their value a bit better and there aren’t many up for sale either.

[sdduuuude]

sdnativeson,

While you may have dreams of a lower market, which may come eventually, you aren’t in touch with current reality of the actual market.

Comps on 3/2 1200 sq. ft houses in the neighborhood easily put a non-trashed house in this area at $450K. With a huge lot, on a canyon, adding $100K to that isn’t out of the question. Here’s a similar-sized house on a tiny, near-canyon lot that sold for $500K in Jan.:

http://www.redfin.com/CA/SAN-DIEGO/4621-MOUNT-FORDE-AVE-92117/home/4966642

Here’s one for ya that closed last month. Sure, it’s a greater fool, but it shows the potential of a flip here.

http://www.redfin.com/CA/SAN-DIEGO/4501-MOUNT-HIGHPINE-PL-92117/home/4961413

So, back out $100K for remodelling and $35K for closing costs and will probably go for > $400K to a flipper.

[sdduuuude]

sdnativeson,

While you may have dreams of a lower market, which may come eventually, you aren’t in touch with current reality of the actual market.

Comps on 3/2 1200 sq. ft houses in the neighborhood easily put a non-trashed house in this area at $450K. With a huge lot, on a canyon, adding $100K to that isn’t out of the question. Here’s a similar-sized house on a tiny, near-canyon lot that sold for $500K in Jan.:

http://www.redfin.com/CA/SAN-DIEGO/4621-MOUNT-FORDE-AVE-92117/home/4966642

Here’s one for ya that closed last month. Sure, it’s a greater fool, but it shows the potential of a flip here.

http://www.redfin.com/CA/SAN-DIEGO/4501-MOUNT-HIGHPINE-PL-92117/home/4961413

So, back out $100K for remodelling and $35K for closing costs and will probably go for > $400K to a flipper.

[sdduuuude]

sdnativeson,

While you may have dreams of a lower market, which may come eventually, you aren’t in touch with current reality of the actual market.

Comps on 3/2 1200 sq. ft houses in the neighborhood easily put a non-trashed house in this area at $450K. With a huge lot, on a canyon, adding $100K to that isn’t out of the question. Here’s a similar-sized house on a tiny, near-canyon lot that sold for $500K in Jan.:

http://www.redfin.com/CA/SAN-DIEGO/4621-MOUNT-FORDE-AVE-92117/home/4966642

Here’s one for ya that closed last month. Sure, it’s a greater fool, but it shows the potential of a flip here.

http://www.redfin.com/CA/SAN-DIEGO/4501-MOUNT-HIGHPINE-PL-92117/home/4961413

So, back out $100K for remodelling and $35K for closing costs and will probably go for > $400K to a flipper.

[sdduuuude]

sdnativeson,

While you may have dreams of a lower market, which may come eventually, you aren’t in touch with current reality of the actual market.

Comps on 3/2 1200 sq. ft houses in the neighborhood easily put a non-trashed house in this area at $450K. With a huge lot, on a canyon, adding $100K to that isn’t out of the question. Here’s a similar-sized house on a tiny, near-canyon lot that sold for $500K in Jan.:

http://www.redfin.com/CA/SAN-DIEGO/4621-MOUNT-FORDE-AVE-92117/home/4966642

Here’s one for ya that closed last month. Sure, it’s a greater fool, but it shows the potential of a flip here.

http://www.redfin.com/CA/SAN-DIEGO/4501-MOUNT-HIGHPINE-PL-92117/home/4961413

So, back out $100K for remodelling and $35K for closing costs and will probably go for > $400K to a flipper.

[sdduuuude]

sdnativeson,

While you may have dreams of a lower market, which may come eventually, you aren’t in touch with current reality of the actual market.

Comps on 3/2 1200 sq. ft houses in the neighborhood easily put a non-trashed house in this area at $450K. With a huge lot, on a canyon, adding $100K to that isn’t out of the question. Here’s a similar-sized house on a tiny, near-canyon lot that sold for $500K in Jan.:

http://www.redfin.com/CA/SAN-DIEGO/4621-MOUNT-FORDE-AVE-92117/home/4966642

Here’s one for ya that closed last month. Sure, it’s a greater fool, but it shows the potential of a flip here.

http://www.redfin.com/CA/SAN-DIEGO/4501-MOUNT-HIGHPINE-PL-92117/home/4961413

So, back out $100K for remodelling and $35K for closing costs and will probably go for > $400K to a flipper.

[sdduuuude]

Fri:
Net winnings of $44 playing poker.

Sat:
$0 – Breakfast, Mom paid.
$25 – New router bit at Rockler
$0 – Worked in shop.
$0 – Played chess.

Sun:
$40 – 4x admission to New Childrens Museum.
$100 – Bought crappy old trailer to haul kayaks.
$10 – Rent movies

Mon:
$0 – Surfed web
– hotel reservations
– tickets for future trips.
– Spent money, but technically
not for this weekend.
$4 – treated self to lunch @ Taco Bell.

$179 – TOTAL OUTGO
$44 – TOTAL INCOME
———————–
$135 – NET OUTFLOW

[sdduuuude]

Fri:
Net winnings of $44 playing poker.

Sat:
$0 – Breakfast, Mom paid.
$25 – New router bit at Rockler
$0 – Worked in shop.
$0 – Played chess.

Sun:
$40 – 4x admission to New Childrens Museum.
$100 – Bought crappy old trailer to haul kayaks.
$10 – Rent movies

Mon:
$0 – Surfed web
– hotel reservations
– tickets for future trips.
– Spent money, but technically
not for this weekend.
$4 – treated self to lunch @ Taco Bell.

$179 – TOTAL OUTGO
$44 – TOTAL INCOME
———————–
$135 – NET OUTFLOW

[sdduuuude]

Fri:
Net winnings of $44 playing poker.

Sat:
$0 – Breakfast, Mom paid.
$25 – New router bit at Rockler
$0 – Worked in shop.
$0 – Played chess.

Sun:
$40 – 4x admission to New Childrens Museum.
$100 – Bought crappy old trailer to haul kayaks.
$10 – Rent movies

Mon:
$0 – Surfed web
– hotel reservations
– tickets for future trips.
– Spent money, but technically
not for this weekend.
$4 – treated self to lunch @ Taco Bell.

$179 – TOTAL OUTGO
$44 – TOTAL INCOME
———————–
$135 – NET OUTFLOW

[sdduuuude]

Fri:
Net winnings of $44 playing poker.

Sat:
$0 – Breakfast, Mom paid.
$25 – New router bit at Rockler
$0 – Worked in shop.
$0 – Played chess.

Sun:
$40 – 4x admission to New Childrens Museum.
$100 – Bought crappy old trailer to haul kayaks.
$10 – Rent movies

Mon:
$0 – Surfed web
– hotel reservations
– tickets for future trips.
– Spent money, but technically
not for this weekend.
$4 – treated self to lunch @ Taco Bell.

$179 – TOTAL OUTGO
$44 – TOTAL INCOME
———————–
$135 – NET OUTFLOW

[sdduuuude]

Fri:
Net winnings of $44 playing poker.

Sat:
$0 – Breakfast, Mom paid.
$25 – New router bit at Rockler
$0 – Worked in shop.
$0 – Played chess.

Sun:
$40 – 4x admission to New Childrens Museum.
$100 – Bought crappy old trailer to haul kayaks.
$10 – Rent movies

Mon:
$0 – Surfed web
– hotel reservations
– tickets for future trips.
– Spent money, but technically
not for this weekend.
$4 – treated self to lunch @ Taco Bell.

$179 – TOTAL OUTGO
$44 – TOTAL INCOME
———————–
$135 – NET OUTFLOW

[sdduuuude]

“It’s the weather dude”

You talkin’ to me ?

[Author]

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