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the dingo
ParticipantSdrealtor knows their stuff. That is correct, that we don’t have HOA in La Costa. Plus, no pmi. My loan is 40 year fixed with a 10 year interest only period. My loan is held by BOFA (Full Doc).
My only point earlier being that for most people working and clearing 80-110k, (which by the way are a lot of familes) home ownership is not that far off from affordability.
Would most of you agree that if you could get a single fam home in an area like Encinitas for 550k (and if they are listed at 550, you know that you can get one for 510-525) and a payment of between $3500-$3800 (tax included) that many people would see that as affordable?ParticipantHey Everyone,
Thanks for all of the comments. It has been fun to have a post responded to so well. My thoughts are that the market will start to stabilize early next year. While there are lots of reasons not to buy, the market is affordable to many. Encinitas now has a lot of really nice single families in the 550k range see realtor.com 92024zip. I have 6 friends, including myself who have bought homes in the last 4 months. We got a great duplex in La Costa 445k after (buyer paid 17k in points)1500 sq ft and good size yard that we are really happy with, and even qualified for a sweet fed loan see acornhousing.org at 6.1% 100% financing with no PMI. All that to say, my $2400 payment is more then affordable and with a 10 year plan, why do I care what the market does. We were sick of waiting, the price was $65k off its 2005 peak. Everyone who I know who bought is in the same boat. New babies, new spouses and new jobs. Not all of us are looking for the deal of the century, just a place to live that is affordable and 550k with lowering interest rates is very affordable (Granted, I live and work in North County).ParticipantHey Everyone,
Thanks for all of the comments. It has been fun to have a post responded to so well. My thoughts are that the market will start to stabilize early next year. While there are lots of reasons not to buy, the market is affordable to many. Encinitas now has a lot of really nice single families in the 550k range see realtor.com 92024zip. I have 6 friends, including myself who have bought homes in the last 4 months. We got a great duplex in La Costa 445k after (buyer paid 17k in points)1500 sq ft and good size yard that we are really happy with, and even qualified for a sweet fed loan see acornhousing.org at 6.1% 100% financing with no PMI. All that to say, my $2400 payment is more then affordable and with a 10 year plan, why do I care what the market does. We were sick of waiting, the price was $65k off its 2005 peak. Everyone who I know who bought is in the same boat. New babies, new spouses and new jobs. Not all of us are looking for the deal of the century, just a place to live that is affordable and 550k with lowering interest rates is very affordable (Granted, I live and work in North County).ParticipantHey Everyone,
Thanks for all of the comments. It has been fun to have a post responded to so well. My thoughts are that the market will start to stabilize early next year. While there are lots of reasons not to buy, the market is affordable to many. Encinitas now has a lot of really nice single families in the 550k range see realtor.com 92024zip. I have 6 friends, including myself who have bought homes in the last 4 months. We got a great duplex in La Costa 445k after (buyer paid 17k in points)1500 sq ft and good size yard that we are really happy with, and even qualified for a sweet fed loan see acornhousing.org at 6.1% 100% financing with no PMI. All that to say, my $2400 payment is more then affordable and with a 10 year plan, why do I care what the market does. We were sick of waiting, the price was $65k off its 2005 peak. Everyone who I know who bought is in the same boat. New babies, new spouses and new jobs. Not all of us are looking for the deal of the century, just a place to live that is affordable and 550k with lowering interest rates is very affordable (Granted, I live and work in North County).ParticipantAfter my last post I opened the business section of the UT and found a couple of articles on this very line of thought. Looks like Barratt homes and KB (as I remember) are getting into the business of rebuilding the fire destroyed homes. It also suggest a boost in the local economy.
ParticipantAfter my last post I opened the business section of the UT and found a couple of articles on this very line of thought. Looks like Barratt homes and KB (as I remember) are getting into the business of rebuilding the fire destroyed homes. It also suggest a boost in the local economy.
ParticipantAfter my last post I opened the business section of the UT and found a couple of articles on this very line of thought. Looks like Barratt homes and KB (as I remember) are getting into the business of rebuilding the fire destroyed homes. It also suggest a boost in the local economy.
ParticipantBlackbox,
Would you not agree that the down turn is taking longer then most thought, and people will eventually start to tire of waiting?ParticipantBlackbox,
Would you not agree that the down turn is taking longer then most thought, and people will eventually start to tire of waiting?ParticipantBlackbox,
Would you not agree that the down turn is taking longer then most thought, and people will eventually start to tire of waiting?ParticipantP.S. please forgive all the typos/
ParticipantP.S. please forgive all the typos/
ParticipantP.S. please forgive all the typos/
ParticipantTrue. Thanks for the dialog.
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