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April 11, 2007 at 9:34 PM in reply to: NY Times..”A Word of Advice During a Housing Slump: Rent “ #49883
sdrealtor
ParticipantSan Marcos east of San Marcos Boulevard might also fit your bill regarding climate. On the fringes of the eastern edge of the city are some nice areas at higher elevations away from crowds. You just have to know where to look.
ParticipantNSR,
The discount is no where near that high at least for the time being. In fact, buying an REO has some sex appeal to many people and it is not that unusual for them to sell for equal prices.ParticipantThats the problem with lendingtree. You have no control and your app can end up lots of places.
ParticipantDON’T use lendingtree or an online shopping service like that! They could run your credit several dozen times and potentially damage your FICO scores. Have your realtor recommend a good local lender (not them!) and make sure to get a quote from a direct lender as well as a broker that will rate shop for you.
ParticipantOnly you can decide what is right for you to do but here is something else to factor into your decision.
A single story home generally lives about 10% to 15% bigger than it is because there is less space lost to hallways/stairs vis a vis a 2 story house. So at the very least you should be comparing a 1900 sq ft home with a 2100 to 2200sq ft home. Also single story homes are in far more limited supply while being in relatively limited demand. Builders hate them because they take up a much bigger footprint and build them because cities force them to. Throw in rising demand from soon to be retired boomers and you have a safer bet with one over the long run.
Not that you should run out and buy because of this but it is very important information to understand and apply to your decision making process.
ParticipantBugs,
Thanks for saying what I wanted to but didnt because I figured I’d get crucified for it.Juice,
If its a house you love and where you want to raise your family how much of a difference is 10K to 20K going to make in your life. My guess is not as much as buying the wrong the wrong house is the wrong neighborhood. If you really want it, come in where ever you may but dont lose it over a several thousand dollars. SOmethings are more improtant than money and from what I remember about your story, you’ll be fine what ever you pay.
SDRParticipantAt 215K figure its gonna cost them about 20K to sell it and move. I’d guess that is probably their threshold of real serious pain is about $240K.
ParticipantMy CPA certificate is probably burried deeper than nancy’s and has been for nearly 20 years.
ParticipantWhile they arent buying everywhere, Carmel Valley is certainly a hotbed for well to do foreign families.
ParticipantPS
I am rolling on the floor laughing my *#%^ off. Last year you ridiculed me for saying the data lies and that the only way to know what was going on was to take an anecdotal approach by talking with realtors knowledgable about an area. You said you had no time for my ridiculous anecdotal approach and data was the only thing that matter. Time for a little mea culpea on your part while standing on the soapbox shouting exactly what you attacked me for.SDR
Participantcawireman,
I agree with everything you said. There forum is fabulous. I have learned an enormous amount from others and hopefully Ive given something back. it is interesting because with some posters I learn by following what they say while other posters I learn by doing the opposite of what they say. Either way, we are fortunate to have such a breadth and depth of individuals here.SDR
ParticipantI thought it was only me
ParticipantThis is a mess. MLS numbers are closer to 16,000. new home numbers cannot be calculated and are many times greater. The realtytrac numbers have numerous duplicates. FSBO number is also impossible to calculate. There are so many problems with this approach its not even worth trying to make it better.
ParticipantAN
Without even realizing it you’ve got a plan B. You should be fine no matter what happens.
SDR -
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