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seniormoment
ParticipantCONCHO, your story regarding 92101 got me concerned,
“There are drug dealers within 100 feet of my front door that the police won’t do anything about. Schizophrenics, addicts, and thugs roam the streets unchecked. I have found 9mm cartridges outside my office door. At some point in the last 5 years, I became infected with tuberculosis and had to undergo a 9 month regimen of nasty antibiotics. I recommend a TB test for anyone living or spending time down here, because the infection rate among these transients is very high and you can get it simply by breathing the same air.”
Which district are you living in? Little Italy? East Village? Marina? Columbia? Where?
What you said makes me think hard, the downtown condos range from $400-$800 per square foot, it is like a shoe box as people described, but with that kind of price you’ll expect a better living condition.
So, what makes you still stick to 92101, there must be some good things there to hold you down, care to share some?
ParticipantArticle about the Carmel Valley by Will Carless:
http://www.voiceofsandiego.org/site/apps/nl/content2.asp?c=euLTJbMUKvH&b=312131&ct=2139965
ParticipantZK,
A few weeks back, Will Carless wrote an article about
the Carmel Valley, did you read it?That article points out that about 2000 illegals, all male, camp out there next to all Carmel Valley communities, no running water, garbage piles up, they
stand around the roads waiting for day job calling…Low crime? I won’t move there because there are the 2000, all male illegal immigrants sitting in everyone’s backyard watching you at night…, I am not a brave man, I need a peaceful mind if I have to pay
good price for my home …Go to SandiegoVoice, under the housing section, you’ll see that article, very scary.
April 12, 2006 at 3:34 PM in reply to: The Gold Flush has begun!!! A sampling of downtown condo market: #24174ParticipantDowntown Gold Flush Continues…
Cityfront unit 1705
Listing price on 02/02/06: $595,000
reduced on 03/09/06: $585,000
reduced on 03/22/06: $575,000
reduced on 04/02/06: $569,000
reduced on 04/12/06: $560,000Harbor Club unit 2705
Listing price on 02/02/06: $1,650,000
reduced on 03/03/06: $1,549,000Horizon unit 1605
Listing price on 02/02/06: $849,000
reduced on 03/10/06: $824,900
reduced on 04/07/06: $799,000Pinnacle unit 2603
Listing price on 12/07/05: $1,500,000
reduced on 03/03/06: $1,450,000
reduced on 03/09/06: $1,400,000Renaissance unit 2101
Listing price on 02/02/06: $1,500,000
reduced on 03/03/06: $1,450,000
reduced on 03/22/06: $1,400,000To be continued …
April 12, 2006 at 7:04 AM in reply to: The Gold Flush has begun!!! A sampling of downtown condo market: #24162ParticipantTip of an iceburg:
Downtown condo name: Treo, unit: 2300, was purchased
for $899,900 on 07/2004.Initial asking price: $899,900 on 03/02/06
Today’s asking price: $849,0002 years of HOA, property tax, utility fee, mortgage interest, incoming commision to the realtor (6%), nonstopping anxiety will all be flushed if and only if …
Participant1981, 1991, 2001 were last time that GDP growth rate experienced 2 consecutive quarters of negative growth.
We are sitting at 1.1% as of 4th quarter of 2005.
A cooling housing market will change the USA growth picture, if a new war with IRAN begins…, if a much more busy hurricane season as predicted this year…, if Delphi-GM stike occurs…, we might see gas price shoots over $6 on the West and $5 on the East, GDP may go negative again by the year end or early 2007, but because a recession ‘normally’ occurs every 10 years, the next one should be 2011-2012…
If we get negative GDP growth earlier, say 2007-2008, than should be, the SD housing market should go down
and bottom out around 2010-2011.If we experience normal recession cycle around 2011-2012, then it will be a slow bleeding for SD housing market, a dead-cat bounce around 2009 is possible before sinking though.
What am I talking about here? Too much smoke…
ParticipantSDrealtor,
Following your direction, I went to the DRE site, entered my realtor name into it, I got a line that I don’t understand, would you mind interpretating it for me? Thanks.
“RES DENIED-RIGHT TO RESTRICTED LICENSE PER H-7361 SF
“ParticipantHi, Rich,
I am a secret admirer of your writings, through your articles I have learned quite a lot about the true downtown 92101 condo market.
Do you have an eductaed guess or prediction about a good period to buy in 92101? What is your guts feeling? Should I buy in 2007 or 2008? or later? I plan to retire there.
Thanks a million!
ParticipantSDrealtor, you are a good salesman, I like what I hear, you sounds honest, do you have a website? Like to know you more so I may acquire you as my agent someday, no website, no hard feeling 🙂
Participantsdrealtor,
I agreed with what you said about owning a house.
How about this? The downtown normally fas 47-55
units available in a monthly inventory for the last few years, well, it perks up a lot since last spring, it has about 570 units now, that is a 1 year supply, your 3 months supply figure must be a different math in a different zip code.Soft market is a sure thing for now, I see a bigger
discount for sold units than last year, bigger reduction from the same listing, sometime multiple reduction within a month, maybe this is only in downtown?As they say about the stock market: “Don’t fight the Fed, don’t fight the trend”, and we all know the Fed is going to continue raise rate for at least 2-3 times to 5.5%, we know that 47% buyers in SD last year using
adjustable or interest-only loan, so the trend in SD real estate is flat to down, for how long? your guess is as good as mine.ParticipantA rule of thumb:
Don’t relocate where your company moves!
That story about SD residents move to Idho? Bad decision.
I read an article not long ago, the onion or ginger producers up in the north CA are now importing the produce from China, why? because it is cheaper to import them than to grow here, well, same labels, can’t tell where exactly they are from.
Now, if you move with your company, what happens when your company sends the order to offshore? Are you stuck at Idho? Bad decision to move near your company because it is more convenient to commute, what happens if you are let go? Passing the company who fired you everyday? Bad to your health.
It is not how well you perform on your job alone to assure your job anymore, it is how much your company wants to save nowaday, so, it is a geese chasing game…
ParticipantHello, this is still going around me, my projects:
Last year, we used PeopleSoft software to develop an
semi in-house product, before it became production, the
total maintainence work for that application had been
bid over by an Indian company, they are now maintain the project from India with a supposed lower fee.This year and now, we are converting a legacy system into something modern, guess what? The entire software
design is led by an Indian team, they are here as consultants but because of their initial involvement and expertise, the end product will also be maintain by them!What a xxxxxxxxxxx…, no fun no more, no save no more.
You are right about staying up front at the technology
but they are catching up fast, the Indian universities
have majoring in every software we are using here according to the offshoring consultants’ confession!Well, the good USA people is going to let Mexican to farm the land, to let Indian to develop the software,
to let Chinese to produce all Wal-Mart goods, pretty soon, you’ll see traffic cops with green faces…
well, what are AMerican doing everyday? Just sitting
back and relax looking out the beautiful ocean …
geeee, life is good …ParticipantHello there, to stretch a bit more on the offshore hiring, not only the high tech jobs are taken away by
‘smart but work cheap’ people from the far east, but as my wife’s firm moving all their account receivable and reporting functions to India and laid off the entire department (but 1), I know the trend is not just
IT jobs.One day, my wife needed some information, she had to wait till 3 PM to call India, the guy over there was sleeping, he was awaken and required 20 minutes so he could ride his bike to his office to check the computer, ain’t that amazing?
I also read news about the big law firms, they charge their clients big hourly fee but their research work is actually done by offshore firms !!!
WOW! I am done with my so-called career, but if you are in a position that the internet can simply acts as
the shipping and handling for your boss or your company then you are not save if you are a young person because the offshore hiring is just begining.ParticipantAs a IT worker for many years, I saw design, redesign, many times, some projects require hiring consultants to provide new skill, most were done through in-house training.
The last 5 years has been very very dramatic in the IT world, mainly the off-shore hiring has become the main stream and trend, I am sitting among Indians who come from India, 12 of them! They are all hired by agencies directly from India, their hourly fee is $20 but my company is paying their agencies with a rate of $45-$60, they are young and knowledgable, they live together in a rental house, drive in with 1 car, they send almost all of their earnings back to India, there is only 1 white American works as a consultant among
20+ others.My questions are:
(1) Companies may still log the hirings as regular hiring because they are paying the agencies with headcounts, but these jobs are not USA jobs, so when we see employment figures every Friday, they might not reflect the true picture.
(2) Companies do not have to move to other states, they just send more business to off shores to save big money, in the meantime, they cut local people to save big, the employment figure of a particular company may not be different.
(3) I don’t think illegal immigrants is a big problem because they only take jobs that locals won’t do, but the high-tech jobs are disappearing daily
(4) I had my kids change majoring in their colleges due to this major job-shiftingDDDDDDDDDDDDDDDDDDDDDDDDDDDaxx.
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