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temeculaguy
ParticipantDivorce is complicated and all situations are different but this is about the worse case scenario. More than likely they will lose the place because they will each be living on half their income now since he will be paying alimony and child support to the tune of half or more. It is doubtful either can swing the place with a 50% cut in pay. California does not recognize individual income, the family income is what it is and it gets divided based on a number of factors. If the divorce is contested the legal fees can exceed 40k. Marriage is grand, divorce is 40 grand.
Staying with her until the kid gets older and she starts working is the only way to fly, divorcing a stay at home mom will leave him with barely enough to eat on, let alone pay a mortgage.
A place in San Diego purchased in 2006 is toast for a decade, so hanging on for a year or two won’t help, that downpayment is gone even if they stay together.
ParticipantDivorce is complicated and all situations are different but this is about the worse case scenario. More than likely they will lose the place because they will each be living on half their income now since he will be paying alimony and child support to the tune of half or more. It is doubtful either can swing the place with a 50% cut in pay. California does not recognize individual income, the family income is what it is and it gets divided based on a number of factors. If the divorce is contested the legal fees can exceed 40k. Marriage is grand, divorce is 40 grand.
Staying with her until the kid gets older and she starts working is the only way to fly, divorcing a stay at home mom will leave him with barely enough to eat on, let alone pay a mortgage.
A place in San Diego purchased in 2006 is toast for a decade, so hanging on for a year or two won’t help, that downpayment is gone even if they stay together.
ParticipantDivorce is complicated and all situations are different but this is about the worse case scenario. More than likely they will lose the place because they will each be living on half their income now since he will be paying alimony and child support to the tune of half or more. It is doubtful either can swing the place with a 50% cut in pay. California does not recognize individual income, the family income is what it is and it gets divided based on a number of factors. If the divorce is contested the legal fees can exceed 40k. Marriage is grand, divorce is 40 grand.
Staying with her until the kid gets older and she starts working is the only way to fly, divorcing a stay at home mom will leave him with barely enough to eat on, let alone pay a mortgage.
A place in San Diego purchased in 2006 is toast for a decade, so hanging on for a year or two won’t help, that downpayment is gone even if they stay together.
ParticipantI think it falls further because it was actually inflated more. Depending on where the land is, some areas got real silly. The wine country and the “in town” areas of meadowview, los ranchitos and santiago saw a huge influx of rich people and the prices went with them. The dumpy, older places next door thought their values rose as well. In the last month about half of the significant drops have been those with land and high carry costs and significant work needed. I’ve seen places reduce their ask from a mil to 500k in months. They are usually dated, low sq ft and on dirt roads.
However, your rent is so low on the rent multiplier scale, you should keep renting. It needs to be between 170k and 250k before it comes in line with rent. You are getting quite a deal, enjoy it and bank the change. If it goes below 250k (which I kinda doubt but I don’t know the specifics) then buy. It seems the stuff further out, the long dirt roads and the stuff in the scrub that does not produce wine will get hit the hardest. Redfin is down right now, otherwise I’d link some examples and their reductions, they still command higher prices, always will, but the percentage drops are as high if not higher.
There is another thing that us “townies” look at. Temecula is a weird microclimate. The southern hills are naturally green year round, west of the freeway in deluz also seems to be always green but get much more than a few miles east of butterfield or anything north of rancho cal and you are in the sahara desert. The grapes like it from rancho cal and south but not too far east, the temp goes up a degree every mile a lot of the time using pechanga as a starting point. dont get too far away, the water is under the ground near pechanga and becomes ess as you go further. Sure you can drill for it but the natural stuff and the green along 79 from the creek makes things just look nicer. That is why the indians settles there, that is why the oldest oak tree in the country is there and that is why Callaway started growing where he did in the 60’s. If you want land stay as close to those areas as you can. Trouble is, you gotta pay.
I know some of it is landscaping but look at the background of the pictures where the land is not irrigates, some areas just look better. these three look like they are roadside on the way to vegas.
And these look like they are in a different country
a couple of miles can make a huge difference out here.
ParticipantI think it falls further because it was actually inflated more. Depending on where the land is, some areas got real silly. The wine country and the “in town” areas of meadowview, los ranchitos and santiago saw a huge influx of rich people and the prices went with them. The dumpy, older places next door thought their values rose as well. In the last month about half of the significant drops have been those with land and high carry costs and significant work needed. I’ve seen places reduce their ask from a mil to 500k in months. They are usually dated, low sq ft and on dirt roads.
However, your rent is so low on the rent multiplier scale, you should keep renting. It needs to be between 170k and 250k before it comes in line with rent. You are getting quite a deal, enjoy it and bank the change. If it goes below 250k (which I kinda doubt but I don’t know the specifics) then buy. It seems the stuff further out, the long dirt roads and the stuff in the scrub that does not produce wine will get hit the hardest. Redfin is down right now, otherwise I’d link some examples and their reductions, they still command higher prices, always will, but the percentage drops are as high if not higher.
There is another thing that us “townies” look at. Temecula is a weird microclimate. The southern hills are naturally green year round, west of the freeway in deluz also seems to be always green but get much more than a few miles east of butterfield or anything north of rancho cal and you are in the sahara desert. The grapes like it from rancho cal and south but not too far east, the temp goes up a degree every mile a lot of the time using pechanga as a starting point. dont get too far away, the water is under the ground near pechanga and becomes ess as you go further. Sure you can drill for it but the natural stuff and the green along 79 from the creek makes things just look nicer. That is why the indians settles there, that is why the oldest oak tree in the country is there and that is why Callaway started growing where he did in the 60’s. If you want land stay as close to those areas as you can. Trouble is, you gotta pay.
I know some of it is landscaping but look at the background of the pictures where the land is not irrigates, some areas just look better. these three look like they are roadside on the way to vegas.
And these look like they are in a different country
a couple of miles can make a huge difference out here.
ParticipantI think it falls further because it was actually inflated more. Depending on where the land is, some areas got real silly. The wine country and the “in town” areas of meadowview, los ranchitos and santiago saw a huge influx of rich people and the prices went with them. The dumpy, older places next door thought their values rose as well. In the last month about half of the significant drops have been those with land and high carry costs and significant work needed. I’ve seen places reduce their ask from a mil to 500k in months. They are usually dated, low sq ft and on dirt roads.
However, your rent is so low on the rent multiplier scale, you should keep renting. It needs to be between 170k and 250k before it comes in line with rent. You are getting quite a deal, enjoy it and bank the change. If it goes below 250k (which I kinda doubt but I don’t know the specifics) then buy. It seems the stuff further out, the long dirt roads and the stuff in the scrub that does not produce wine will get hit the hardest. Redfin is down right now, otherwise I’d link some examples and their reductions, they still command higher prices, always will, but the percentage drops are as high if not higher.
There is another thing that us “townies” look at. Temecula is a weird microclimate. The southern hills are naturally green year round, west of the freeway in deluz also seems to be always green but get much more than a few miles east of butterfield or anything north of rancho cal and you are in the sahara desert. The grapes like it from rancho cal and south but not too far east, the temp goes up a degree every mile a lot of the time using pechanga as a starting point. dont get too far away, the water is under the ground near pechanga and becomes ess as you go further. Sure you can drill for it but the natural stuff and the green along 79 from the creek makes things just look nicer. That is why the indians settles there, that is why the oldest oak tree in the country is there and that is why Callaway started growing where he did in the 60’s. If you want land stay as close to those areas as you can. Trouble is, you gotta pay.
I know some of it is landscaping but look at the background of the pictures where the land is not irrigates, some areas just look better. these three look like they are roadside on the way to vegas.
And these look like they are in a different country
a couple of miles can make a huge difference out here.
ParticipantI think it falls further because it was actually inflated more. Depending on where the land is, some areas got real silly. The wine country and the “in town” areas of meadowview, los ranchitos and santiago saw a huge influx of rich people and the prices went with them. The dumpy, older places next door thought their values rose as well. In the last month about half of the significant drops have been those with land and high carry costs and significant work needed. I’ve seen places reduce their ask from a mil to 500k in months. They are usually dated, low sq ft and on dirt roads.
However, your rent is so low on the rent multiplier scale, you should keep renting. It needs to be between 170k and 250k before it comes in line with rent. You are getting quite a deal, enjoy it and bank the change. If it goes below 250k (which I kinda doubt but I don’t know the specifics) then buy. It seems the stuff further out, the long dirt roads and the stuff in the scrub that does not produce wine will get hit the hardest. Redfin is down right now, otherwise I’d link some examples and their reductions, they still command higher prices, always will, but the percentage drops are as high if not higher.
There is another thing that us “townies” look at. Temecula is a weird microclimate. The southern hills are naturally green year round, west of the freeway in deluz also seems to be always green but get much more than a few miles east of butterfield or anything north of rancho cal and you are in the sahara desert. The grapes like it from rancho cal and south but not too far east, the temp goes up a degree every mile a lot of the time using pechanga as a starting point. dont get too far away, the water is under the ground near pechanga and becomes ess as you go further. Sure you can drill for it but the natural stuff and the green along 79 from the creek makes things just look nicer. That is why the indians settles there, that is why the oldest oak tree in the country is there and that is why Callaway started growing where he did in the 60’s. If you want land stay as close to those areas as you can. Trouble is, you gotta pay.
I know some of it is landscaping but look at the background of the pictures where the land is not irrigates, some areas just look better. these three look like they are roadside on the way to vegas.
And these look like they are in a different country
a couple of miles can make a huge difference out here.
ParticipantI think it falls further because it was actually inflated more. Depending on where the land is, some areas got real silly. The wine country and the “in town” areas of meadowview, los ranchitos and santiago saw a huge influx of rich people and the prices went with them. The dumpy, older places next door thought their values rose as well. In the last month about half of the significant drops have been those with land and high carry costs and significant work needed. I’ve seen places reduce their ask from a mil to 500k in months. They are usually dated, low sq ft and on dirt roads.
However, your rent is so low on the rent multiplier scale, you should keep renting. It needs to be between 170k and 250k before it comes in line with rent. You are getting quite a deal, enjoy it and bank the change. If it goes below 250k (which I kinda doubt but I don’t know the specifics) then buy. It seems the stuff further out, the long dirt roads and the stuff in the scrub that does not produce wine will get hit the hardest. Redfin is down right now, otherwise I’d link some examples and their reductions, they still command higher prices, always will, but the percentage drops are as high if not higher.
There is another thing that us “townies” look at. Temecula is a weird microclimate. The southern hills are naturally green year round, west of the freeway in deluz also seems to be always green but get much more than a few miles east of butterfield or anything north of rancho cal and you are in the sahara desert. The grapes like it from rancho cal and south but not too far east, the temp goes up a degree every mile a lot of the time using pechanga as a starting point. dont get too far away, the water is under the ground near pechanga and becomes ess as you go further. Sure you can drill for it but the natural stuff and the green along 79 from the creek makes things just look nicer. That is why the indians settles there, that is why the oldest oak tree in the country is there and that is why Callaway started growing where he did in the 60’s. If you want land stay as close to those areas as you can. Trouble is, you gotta pay.
I know some of it is landscaping but look at the background of the pictures where the land is not irrigates, some areas just look better. these three look like they are roadside on the way to vegas.
And these look like they are in a different country
a couple of miles can make a huge difference out here.
ParticipantIssa is a good dude. Unfortunately there aren’t very many lawmakers who aren’t lawyers and are business owners.
ParticipantIssa is a good dude. Unfortunately there aren’t very many lawmakers who aren’t lawyers and are business owners.
ParticipantIssa is a good dude. Unfortunately there aren’t very many lawmakers who aren’t lawyers and are business owners.
ParticipantIssa is a good dude. Unfortunately there aren’t very many lawmakers who aren’t lawyers and are business owners.
ParticipantIssa is a good dude. Unfortunately there aren’t very many lawmakers who aren’t lawyers and are business owners.
ParticipantI’ll try to address the various posts:
DWCAP-compared to last year, it’s a whole different world. 400k was my target last year and pickings were slim, I could get a 2,000 sq ft, 2 car garage on a small lot. Today, 300k gets you 3000 sq and a 3 car, but you have to fight for them and hit them on the day they are listed. I don’t even look at the smaller ones and I want a view, with a certain orientatio to the sun, not near busy roads and whole bunch of other things that i am suddenly picky about. The area is the same, I only look in small 3 mile radius and only a few tracts, I refuse to settle at this point.
Enorah-I always listen to my spirit guides, they have yet to fail me and are the only opinion I trust.
Running Bear-I’ve already taken that into account and don’t plan to tie up all of my cash, just enough for it to make sense. When financing time comes, I weigh the cost of going with less than 20% vs. the yield of that cash in another instrument vs. the pmi, then factor the comfort of keeping at least a year of mortgage banked and liquid, can’t say what I’ll do until the numbers of that day are analyzed because they fluctuate in these volatile times. As far as having or needing the ability to pack up and move to another area, it’s not a possibility or a necessity. Without going into too much detail I’m recession proof with local roots so deep I’m never leaving (4 generations of family in the same zip code, I’m never leaving).
Nor-La- No, You da man, none of have a crystal ball and you will be fine because you pay attention.
EX-SD, thanks brother, you summed up my reasoning perfectly.
FLU- you have earned the right to be jackass, so enjoy it, we all laugh anyway. I read the details of the indymac fdic reworks (which will be the model for all gov’t owned mort. reworks), nobody gets a free ride, they lien the property and get the forebearance back when you sell so nothing is really forgiven, they get to pay too much monthly and don’t ever get equity, some call that “rent.” They get to stay in their homes, but it never becomes theirs, so it’s a crappy deal, your method is still better, always will be.
Former-It is a no brainer, it’s just about finding the house that speaks to me.
Carlsbadworker-It’s damn close and as ren pointed out, examples are starting to show themselves. keep in mind that you will have to fix some things, turnkey homes go quick but labor and materials are cheap now, go with the best hood and just fix it. I have also noticed the quality of the repos is improving as we get to the alt a folks, the subprimers put no options or improvements in, they get better every day.
REN- you are the bomb, your examples and analysis mimmic mine, when I do go and if I fade away into home improvement and yardwork hell as opposed to playing on the computer, you get the torch.
Aecitia-I may miss the christmas deadline with this latest setback but I appreciate the sentiment. You of all people should know that I could care less about the debate, it’s all crap and pandering, blah, blah.
Peter-it isn’t a rationalation, it’s rational. No offense but my market is so different than S.D., it almost can’t be compared. Place the same formula on your market, if you could get buy in your favorite hood for half peak, 2001 prices that are no impact on your household economics, you would do it, regardless of the national economy, in fact it will be possible because of national economy, wait till the economy gets going and you will too late. Rewards require risks, for me there is no risk so I don’t need to talk myself into it.
mortgage3- we have never chatted unless you using a new moniker but I appreciate your words and agree with them because they feed my maniacal ego. That aside, I agree that 2001 is the target, less is better but I’m happy with 2001 prices.
cash- you are right, but my absence also has to do with other things, mostly personal. It looks like I was wrong, I was seeing things slow down but still got sucker punched by another buyer. Meadowview is awesome, stay with it, it will slow down, the high end in santiago and ranchitos has been taking huge markdowns (always a sign of no bids) my knowledge of anything outside of 92592 is weak since it is out of my zone and horse property is it’s own animal, pun intended.
Threadkiller, 3% is dead, 5% is still possible with FHA but limits, MI and condition are involved. regardless of area, you still need a lender and that is fluid situation right now. Credit score, income and downpayment is the new mantra.
Former-I couldn’t have said it better, fundamentals are fundamental and it’s nice to see them crawl back out from under that rock.
In summary, I will likely not get this exact one but mine will come, I was stubborn and the market was kind enough to come down to where I wanted it, I didn’t have to meet it half way, it is as simple as that. You San Diegans will see the same thing, just a year later. Bugs called it two years ago and it has been happening exactly as he predicted.
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