[UCGal]

[quote=bearishgurl]
I want to appeal all native San Diegan and lifetime San Diegan Piggs to think back to your “home turf” as you remember it. Bear in mind that relatively low cost cosmetic and heavy “fixers” still exist there today, whether currently listed or not. Think back to the house you grew up in. Do your parent(s) still reside there?

Now ask yourself, would I raise my family in this home? Even if I inherited the home free and clear, would I raise my family in it? Would I move back to my home turf and raise my family in my deceased parent(s)’ home or buy a fixer there on the cheap near my relatives so my family could live on one income? What if it was situated on a 9K sf lot??
[/quote]

LOL – I’ll take the bite.
I’m a native San Diegan fast approaching age 50. From 1961-65 lived in Clairemont, near Balboa and Genesee. House was a 3 br/2ba about 1200 sf. We moved because it was crowded for a family of 4. No family room… just living room. 5000sf lot – so not a huge lot. In other words – even back then 1200 for a family with 3 kids was crowded.

My parents then bought a REO in UC. 2016 sf. Great house to grow up in – but it was the BOONIES. Back then UTC didn’t exist. 52 didn’t exist. 805 didn’t exist. Even Genesee didn’t connect UC to Clairemont… The only way in and out was on Regents Rd to Clairemont Mesa Blvd. (and then cut over on Moraga to Balboa to get to the 5 freeway.)

I bought the house from my dad. (not inherited – paid market value… a 2000% profit for the 35 years my parents owned it). So I’m living in the exact same model/size/lot/location that my parents chose to raise their kids. And my particular street has several 2nd gen families. 3 others that I know for sure – there may be more… I suspect as the parents age – there will be more in the future. It’s a good neighborhood and the houses are fine.

One of the differences… My parents bought with just one income. And they bought when they were in their mid 30’s. They had to carry two mortgages because it was a down market and they kept the Clairemont house as a rental till the market improved. We needed just over 1 income (refi in 2009 brought our budget to where we live on one income – bank/fund my dreams of early retirement with the other.) My mom went to work when I was entering jr. high… and her income paid for our college.

Another difference: we were older when we bought – and had nice equity from previous homes – so we paid off a huge portion right from the get go. Having savings/equity from previous homes made it affordable.

Not sure we could have swung (at least within our comfort zone) if we didn’t have that large down… We wouldn’t have had that large down at the age my parents bought the house.

So… comparing apples to apples. My parents were able to afford the same house at a younger age on just one income. My dad was an engineer, so am I.

[UCGal]

[quote=bearishgurl]
I want to appeal all native San Diegan and lifetime San Diegan Piggs to think back to your “home turf” as you remember it. Bear in mind that relatively low cost cosmetic and heavy “fixers” still exist there today, whether currently listed or not. Think back to the house you grew up in. Do your parent(s) still reside there?

Now ask yourself, would I raise my family in this home? Even if I inherited the home free and clear, would I raise my family in it? Would I move back to my home turf and raise my family in my deceased parent(s)’ home or buy a fixer there on the cheap near my relatives so my family could live on one income? What if it was situated on a 9K sf lot??
[/quote]

LOL – I’ll take the bite.
I’m a native San Diegan fast approaching age 50. From 1961-65 lived in Clairemont, near Balboa and Genesee. House was a 3 br/2ba about 1200 sf. We moved because it was crowded for a family of 4. No family room… just living room. 5000sf lot – so not a huge lot. In other words – even back then 1200 for a family with 3 kids was crowded.

My parents then bought a REO in UC. 2016 sf. Great house to grow up in – but it was the BOONIES. Back then UTC didn’t exist. 52 didn’t exist. 805 didn’t exist. Even Genesee didn’t connect UC to Clairemont… The only way in and out was on Regents Rd to Clairemont Mesa Blvd. (and then cut over on Moraga to Balboa to get to the 5 freeway.)

I bought the house from my dad. (not inherited – paid market value… a 2000% profit for the 35 years my parents owned it). So I’m living in the exact same model/size/lot/location that my parents chose to raise their kids. And my particular street has several 2nd gen families. 3 others that I know for sure – there may be more… I suspect as the parents age – there will be more in the future. It’s a good neighborhood and the houses are fine.

One of the differences… My parents bought with just one income. And they bought when they were in their mid 30’s. They had to carry two mortgages because it was a down market and they kept the Clairemont house as a rental till the market improved. We needed just over 1 income (refi in 2009 brought our budget to where we live on one income – bank/fund my dreams of early retirement with the other.) My mom went to work when I was entering jr. high… and her income paid for our college.

Another difference: we were older when we bought – and had nice equity from previous homes – so we paid off a huge portion right from the get go. Having savings/equity from previous homes made it affordable.

Not sure we could have swung (at least within our comfort zone) if we didn’t have that large down… We wouldn’t have had that large down at the age my parents bought the house.

So… comparing apples to apples. My parents were able to afford the same house at a younger age on just one income. My dad was an engineer, so am I.

[UCGal]

[quote=bearishgurl]
I want to appeal all native San Diegan and lifetime San Diegan Piggs to think back to your “home turf” as you remember it. Bear in mind that relatively low cost cosmetic and heavy “fixers” still exist there today, whether currently listed or not. Think back to the house you grew up in. Do your parent(s) still reside there?

Now ask yourself, would I raise my family in this home? Even if I inherited the home free and clear, would I raise my family in it? Would I move back to my home turf and raise my family in my deceased parent(s)’ home or buy a fixer there on the cheap near my relatives so my family could live on one income? What if it was situated on a 9K sf lot??
[/quote]

LOL – I’ll take the bite.
I’m a native San Diegan fast approaching age 50. From 1961-65 lived in Clairemont, near Balboa and Genesee. House was a 3 br/2ba about 1200 sf. We moved because it was crowded for a family of 4. No family room… just living room. 5000sf lot – so not a huge lot. In other words – even back then 1200 for a family with 3 kids was crowded.

My parents then bought a REO in UC. 2016 sf. Great house to grow up in – but it was the BOONIES. Back then UTC didn’t exist. 52 didn’t exist. 805 didn’t exist. Even Genesee didn’t connect UC to Clairemont… The only way in and out was on Regents Rd to Clairemont Mesa Blvd. (and then cut over on Moraga to Balboa to get to the 5 freeway.)

I bought the house from my dad. (not inherited – paid market value… a 2000% profit for the 35 years my parents owned it). So I’m living in the exact same model/size/lot/location that my parents chose to raise their kids. And my particular street has several 2nd gen families. 3 others that I know for sure – there may be more… I suspect as the parents age – there will be more in the future. It’s a good neighborhood and the houses are fine.

One of the differences… My parents bought with just one income. And they bought when they were in their mid 30’s. They had to carry two mortgages because it was a down market and they kept the Clairemont house as a rental till the market improved. We needed just over 1 income (refi in 2009 brought our budget to where we live on one income – bank/fund my dreams of early retirement with the other.) My mom went to work when I was entering jr. high… and her income paid for our college.

Another difference: we were older when we bought – and had nice equity from previous homes – so we paid off a huge portion right from the get go. Having savings/equity from previous homes made it affordable.

Not sure we could have swung (at least within our comfort zone) if we didn’t have that large down… We wouldn’t have had that large down at the age my parents bought the house.

So… comparing apples to apples. My parents were able to afford the same house at a younger age on just one income. My dad was an engineer, so am I.

[UCGal]

[quote=earlyretirement]Why not just set up a Deleware LLC or a Nevada LLC and then purchase with that…..would kill many birds with one stone. I can’t figure out why more people in California don’t do this for privacy, asset/liability protection? Yeah, there are on-going fees and set up costs but it seems a no brainer but can’t see why more people don’t utilize this in California..am I missing something?[/quote]
When you finance you have to have it in your name – then it gets quick claimed into a trust or LLC. Not sure if you can get a mortgage for an LLC.

Since the mortgage gets recorded – it’s public record… no privacy.

[UCGal]

[quote=earlyretirement]Why not just set up a Deleware LLC or a Nevada LLC and then purchase with that…..would kill many birds with one stone. I can’t figure out why more people in California don’t do this for privacy, asset/liability protection? Yeah, there are on-going fees and set up costs but it seems a no brainer but can’t see why more people don’t utilize this in California..am I missing something?[/quote]
When you finance you have to have it in your name – then it gets quick claimed into a trust or LLC. Not sure if you can get a mortgage for an LLC.

Since the mortgage gets recorded – it’s public record… no privacy.

[UCGal]

[quote=earlyretirement]Why not just set up a Deleware LLC or a Nevada LLC and then purchase with that…..would kill many birds with one stone. I can’t figure out why more people in California don’t do this for privacy, asset/liability protection? Yeah, there are on-going fees and set up costs but it seems a no brainer but can’t see why more people don’t utilize this in California..am I missing something?[/quote]
When you finance you have to have it in your name – then it gets quick claimed into a trust or LLC. Not sure if you can get a mortgage for an LLC.

Since the mortgage gets recorded – it’s public record… no privacy.

[UCGal]

[quote=earlyretirement]Why not just set up a Deleware LLC or a Nevada LLC and then purchase with that…..would kill many birds with one stone. I can’t figure out why more people in California don’t do this for privacy, asset/liability protection? Yeah, there are on-going fees and set up costs but it seems a no brainer but can’t see why more people don’t utilize this in California..am I missing something?[/quote]
When you finance you have to have it in your name – then it gets quick claimed into a trust or LLC. Not sure if you can get a mortgage for an LLC.

Since the mortgage gets recorded – it’s public record… no privacy.

[UCGal]

[quote=earlyretirement]Why not just set up a Deleware LLC or a Nevada LLC and then purchase with that…..would kill many birds with one stone. I can’t figure out why more people in California don’t do this for privacy, asset/liability protection? Yeah, there are on-going fees and set up costs but it seems a no brainer but can’t see why more people don’t utilize this in California..am I missing something?[/quote]
When you finance you have to have it in your name – then it gets quick claimed into a trust or LLC. Not sure if you can get a mortgage for an LLC.

Since the mortgage gets recorded – it’s public record… no privacy.

[UCGal]

So they’re done with the quarry that’s been there since I was a kid.

Interesting that they describe one of the areas (#1 on the map) as “gentrified”. It’s a brand new neighborhood – never had development there before… it was a friggin’ quarry. How do you gentrify a quarry?

I don’t think flooding will be an issue – it’s on the side of a hill.

[UCGal]

So they’re done with the quarry that’s been there since I was a kid.

Interesting that they describe one of the areas (#1 on the map) as “gentrified”. It’s a brand new neighborhood – never had development there before… it was a friggin’ quarry. How do you gentrify a quarry?

I don’t think flooding will be an issue – it’s on the side of a hill.

[UCGal]

So they’re done with the quarry that’s been there since I was a kid.

Interesting that they describe one of the areas (#1 on the map) as “gentrified”. It’s a brand new neighborhood – never had development there before… it was a friggin’ quarry. How do you gentrify a quarry?

I don’t think flooding will be an issue – it’s on the side of a hill.

[UCGal]

So they’re done with the quarry that’s been there since I was a kid.

Interesting that they describe one of the areas (#1 on the map) as “gentrified”. It’s a brand new neighborhood – never had development there before… it was a friggin’ quarry. How do you gentrify a quarry?

I don’t think flooding will be an issue – it’s on the side of a hill.

[UCGal]

So they’re done with the quarry that’s been there since I was a kid.

Interesting that they describe one of the areas (#1 on the map) as “gentrified”. It’s a brand new neighborhood – never had development there before… it was a friggin’ quarry. How do you gentrify a quarry?

I don’t think flooding will be an issue – it’s on the side of a hill.

[UCGal]

[quote=paramount]When I go to Macy’s and ask to see something cheap they bring me a mirror….[/quote]
Love it!
I’d use that line except I shop at Target and Ross. LOL

[UCGal]

[quote=paramount]When I go to Macy’s and ask to see something cheap they bring me a mirror….[/quote]
Love it!
I’d use that line except I shop at Target and Ross. LOL

[Author]

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