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March 7, 2012 at 9:29 PM in reply to: Serenity Stonebridge Estate Scripps Ranch Home Pricing #739520
sunny88
ParticipantGood post and very instructive.
I don’t know this guy but have seen numerous signs everywhere in Mira Mesa. I wonder how he could go on for so long without getting caught. Perhaps the Philippino customers are less likely to report or he was so shrewd to keep them silent?ParticipantNice story-justice has been served at last!
December 29, 2011 at 11:53 AM in reply to: Refi-are you receiving calls from banks offering 3.875% refinancing? #735151ParticipantIt is true, I just refinanced with Quicken. Amount $510 k, 30 years fixed, no fees for appraisal, @3.875 %.
ParticipantHaven’t seen any postings lately about Santee. How are the homes at Skyranch selling right now? Are they still building new homes up there and what are the prices?
Participant[quote=NewtoSanDiego]Yes, I’m thinking too about moving out of San Diego. Way too liberal here, sick of the Prius driving enviro wackos. Michelle B is my kind of people. She still would make a great President. Too bad this may not be her year. We need leaders like her, I envy Minnesota.
The weather out here is tough to beat though. I’m liking the low heating bills out here have been low, doesn’t offset the higher housing costs but sure helps. When I lived out in the cold climes my older house had oil heat, insulation not great and I was shelling out $500+ month during winter. If we could combine the nice weather with the free market, deregulated climate like Texas, I would be in heaven.
Whet areas would you recommend? I gotta make a trip out there and scope it out.
God speed[/quote]
What does driving Prius have to do with being a liberal wacko? There are many people who like to drive a car that is environmentally friendly who are not liberals. BTW, I’m glad that Michelle B won’t be elected-she will be a disaster for our nation.
October 9, 2011 at 5:45 PM in reply to: Global Financial Meltdown Possible in 2 to 3 Weeks: IMF Robert Shapiro #730367Participant[quote=kev374]I doubt any of that would happen, the Euro is holding stable at 1.35ish, that implies optimism… and both Germany and France are not going to let anything happen as they hold a humungous amount of Greek debt. Everything is looking up right now, stocks are holding quite well…even the Real estate market here in the US has hit bottom and has nowhere to go but up.
Relax and don’t buy into all this doomsday nonsense, good times are back![/quote]
I agree. There will be a lot of volatility in the next few months but eventually the market will recover just like it always has.
Participant[quote=familyguy]I just got the feeling that the homes were “squished” in. Especially the two story; the driveway for example, it looks nice but if you think about actually putting a car in either garage it would have to be a Cooper mini as there simply isn’t enough room to negotiate the turns.
Further, there is little or no space between the pillars and the front door. IMO there needs to be at least 6′ or so between the pillars and front door, the current configuration has about 2.5′ (roughly.) Then, once you get inside the double stair case is beautiful, but again it’s SO close to the front door that you have to stand outside to appreciate it. Great concept, but far to little space for the design. Once inside, there are no bathroom doors installed but if you can imagine the bathrooms with doors in the bedrooms, you’ll find there will be barely enough room to close the door without hitting the toilet. I think someone who hasn’t purchased a brand new home after seeing models might overlook this so it’s something to concider.
I thought the backyards at both places were done nicely, and the finishes were nice as well. When you actuially price out a home with a view and outfit it anywhere close to the models you would easily be in the million+ range which again IMHO, is overpriced.
Just my .02[/quote]
I completely agree. Especially the 2nd model’s stairway is overdone. This just doesn’t belong into that size of house. Other than that, the homes are clearly overpriced given the fact that a lot of options are necessary to make the house nice.
Participant[quote=matula]So what would be a reasonable price let say for the La Jolla model? They are listed at $849K.
Would $750K be a reasonable price?[/quote]I would say $700k would be a fair price given the fact that you need at least $200k for upgrades and landscaping. For this location a price over $ 1 million is too much.
Participant[quote=matula]So the best buys are still the foreclosed/short sale ones then.[/quote]
Absolutely, and there will be more coming…
Participant[quote=AN][quote=sunny88]In this environment renting makes a lot of sense. Let’s do the math:
Home price $700k, down payment $150k, mortgage $550k at 4% (30 yr fixed), property tax $8k, MR 3k. Monthly payments $3,500.
Possible drop in value over next 5 years: 10%=$70k.
Annual drop $14k or about $1,200 a month.Actual cost of owning a $700k over next 5 years $4,700 per month.
Tax credit (25% bracket): $450 per month.
You can rent a comparable home for about $2,500-2,800 per month. Savings at least $1,400 per month or $80 k over 5 years.
Conclusion: Wait and buy a house in 5 years![/quote]
That’s some low rent numbers. Houses in the 400-500k range in Mira Mesa are renting between 2300-2500. Houses in the $700k range in Sorrento Valley with no HOA or MR are renting between 3000-3300/month. Are you sure those are the market rents? To truly afford a $700k house with those HOA + MR, shouldn’t those buyers be in the 28% or 31% bracket? You’d be stretched super thin if you’re in the 25% bracket at buy that type of house.The only good argument to wait in your post is the expectation of a 10% drop in 5 years. Hopefully rates doesn’t go up 10% to offset that 10% decrease in price.[/quote]
Mira Mesa homes rents are between $2,000-2,300.
(http://sandiego.craigslist.org/search/apa?query=mira+mesa&srchType=A&minAsk=&maxAsk=&bedrooms=4&sort=priceasc).Even if renter/buyer belongs to higher tax bracket savings are substantial when renting. Also, I didn’t consider maintenance which could easily add another $ 3,000 a year.
ParticipantIn this environment renting makes a lot of sense. Let’s do the math:
Home price $700k, down payment $150k, mortgage $550k at 4% (30 yr fixed), property tax $8k, MR 3k. Monthly payments $3,500.
Possible drop in value over next 5 years: 10%=$70k.
Annual drop $14k or about $1,200 a month.Actual cost of owning a $700k over next 5 years $4,700 per month.
Tax credit (25% bracket): $450 per month.
You can rent a comparable home for about $2,500-2,800 per month. Savings at least $1,400 per month or $80 k over 5 years.
Conclusion: Wait and buy a house in 5 years!
Participant[quote=matula]Anybody visited the almost finished model homes at Toll Brothers this weekend? Any thoughts on how they look like inside etc etc?[/quote]
Both models are quite nice (I prefer the one story La Jolla model). Base price looks good on paper, but once you add on all the options plus landscaping the home will end up costing you at least $1.1 million.
ParticipantTo all realtors out there-do you think it’s acceptable to contact people who are divorcing based on accessible public documents and market yourself?
Your opinion is much appreciated.ParticipantBack on the market! What a steal…!
http://www.sdlookup.com/MLS-100051901-14661_Old_Creek_Dr_San_Diego_CA_92131
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