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surveyor
Participantdifferent thoughts
actually i think one reason why many want larger homes is because many of us spend more time indoors now.
Participantcalcing
according to my calculations, the price for the condo at which it would be set at neutral cash flow is $160k.
assuming rent at $1750 per month:
ROE = (cash flow + appreciation + loan reduction + tax deduction)/downpayment.
At $250k, ROE = 17%.
ROE=(-651.50+(250k*4%)+2169+(250k*0.7/27.5)*0.3)/50k
ROE = about 17%(this assumes fixed amortized payments, not interest only. other numbers and assumptions may vary).
At $160k, ROE = 26%.
As for its worth, who the hell knows. 🙂
August 31, 2007 at 12:49 PM in reply to: cannot wait anymore, buying a condo now instead of a house at 4S Ranch, and wait to buy a bigger house later? #82825Participantwanttobuy:
My return on equity calculations for your RB condo is returning a -23% a year, which in real estate is VERY bad. That is about 30% below what I can usually get in other places. This is also assuming a $2100 rent, which in truth may be lower.
So if you are thinking to use your RB condo as an investment, just realize that it is returning you -23% a year and a $350/mo. negative cash flow.
August 30, 2007 at 7:53 PM in reply to: San Diego area zips in “Top 500” foreclosure zip codes in US #82662Participant🙂
The upper 20% of the income earners are still spending, and supporting the rest of the economy. You think if these 20% people get hit, that the remaining 80% will be in any better shape then they are now? I don’t. It’s going to hit them even harder.
Well, to be fair, saying that the rich will be doing better than the poor in bad times is kind of like saying San Diego is sunny…
Still, point taken.
Participantseniors
Actually considering how many senior citizens frequent casinos (just a personal observation), I can see them seeing a boom when the boomers retire.
August 30, 2007 at 8:53 AM in reply to: San Diego area zips in “Top 500” foreclosure zip codes in US #82560ParticipantRichest Urban Areas
A somewhat incoherent article, but it does say that San Diego is one of the top three richest urban centers of the U.S. It certainly gives a lot of weight to the argument that San Diego incomes can hold up some of the housing prices…
“SAN JOSE, Calif. — Northern California’s largest city is also the wealthiest urban center in the nation, with a median household income of $74,000.
Two other California cities, San Francisco and San Diego, finished in the top three as well, according to newly released data by the U.S. Census Bureau’s Current Population Survey. Seattle and Las Vegas rounded out the top five richest cities of 500,000 people or more.
Santa Clara County, epicenter of Silicon Valley and home to some of the world’s most successful technology companies, was California’s second richest. Santa Clara County’s median household income last year was $80,838, while Marin County, just north of San Francisco, topped the list at
$81,761.
Economists said rising median income reflects the improving fortunes of white-collar Silicon Valley workers since 2000, when the dot-com stock market bubble burst and tens of thousands of workers lost jobs. But some public policy experts said the high median masked a growing inequality between rich and poor and failed to take into account the exorbitant cost of living in the greater San Francisco Bay area.
Deborah Reed of the nonpartisan Public Policy Institute of California said Santa Clara County’s 9 percent poverty rate would be 12.2 percent if the rate included the local cost of living. The national poverty rate is about 12 percent.
Few homes in Silicon Valley cost less than $500,000, and rents have surged in the past year.”
From 10news.com…
August 29, 2007 at 12:49 PM in reply to: Why is Texas dirt cheap compared to California for real estate? #82434ParticipantPrices, dirt
I’ve made this comment before in other threads, but will say it again:
Basically in Texas, it is cheaper to build a house there than in California, New York, and New Jersey. More availability of developable land and light land use regulations and restrictions.
As for the other states (Arizona, Nevada, Colorado, Florida), I do not know why they cost more than Texas. Nevada and Arizona have similar land use regulations and have traditionally been low cost like Texas. However, the migration of California money into Nevada and Arizona has been one factor.
ParticipantFees Fees Fees
Alex: when you factor in the HOA fees and the mello-roos fees, and the god knows how many other fees 4S Ranch has, you’ll find that the resale home is actually cheaper or the difference is at least negligible.
Also, 4S Ranch has small lot sizes.
Participantdupe
Participantdupe
Participantdupe
ParticipantMy statement was to compare the amount of regulations for a location like La Jolla vs. Bakersfield and Fresno. La Jolla, with its coastal location, is subject to countless regulations, environmental restrictions, lot size rules, and public hearings as opposed to Bakersfield and Fresno, where the regulations there are nowhere near as onerous.
ParticipantMy statement was to compare the amount of regulations for a location like La Jolla vs. Bakersfield and Fresno. La Jolla, with its coastal location, is subject to countless regulations, environmental restrictions, lot size rules, and public hearings as opposed to Bakersfield and Fresno, where the regulations there are nowhere near as onerous.
ParticipantMy statement was to compare the amount of regulations for a location like La Jolla vs. Bakersfield and Fresno. La Jolla, with its coastal location, is subject to countless regulations, environmental restrictions, lot size rules, and public hearings as opposed to Bakersfield and Fresno, where the regulations there are nowhere near as onerous.
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