[UCGal]

[quote=sdrealtor]Not saying this is going to save the market but I just saw this twice this week. The wealth transfer from our paretns generation to the baby boomers is very real and it is coming as we speak.[/quote]

I don’t disagree that this happens… heck I’ve experienced it (to a much smaller degree!!!) when my dad passed away 2.5 years ago. But I think it’s not as common in the scale (size of inheritance) that you mention. I think more typical would be a few hundred thousand – maybe enough to pay off or pay down a small mortgage, but not enough to blow on a big house with big upkeep.

And it’s a trend that will be going away… I’ve read so many articles about the boomers underfunding their retirement and living beyond their means. Granted, the boomer generation didn’t start till 1946 – so the oldest are only 64. I’ve seen this myself with older coworkers and family who didn’t get serious about retirement till their late 40’s, and or spent retirement savings on their childrens college fund. Their kids may have good educations, but now the parents have mortgages into retirement years and can’t retire.

[UCGal]

[quote=sdrealtor]Not saying this is going to save the market but I just saw this twice this week. The wealth transfer from our paretns generation to the baby boomers is very real and it is coming as we speak.[/quote]

I don’t disagree that this happens… heck I’ve experienced it (to a much smaller degree!!!) when my dad passed away 2.5 years ago. But I think it’s not as common in the scale (size of inheritance) that you mention. I think more typical would be a few hundred thousand – maybe enough to pay off or pay down a small mortgage, but not enough to blow on a big house with big upkeep.

And it’s a trend that will be going away… I’ve read so many articles about the boomers underfunding their retirement and living beyond their means. Granted, the boomer generation didn’t start till 1946 – so the oldest are only 64. I’ve seen this myself with older coworkers and family who didn’t get serious about retirement till their late 40’s, and or spent retirement savings on their childrens college fund. Their kids may have good educations, but now the parents have mortgages into retirement years and can’t retire.

[UCGal]

[quote=sdrealtor]Not saying this is going to save the market but I just saw this twice this week. The wealth transfer from our paretns generation to the baby boomers is very real and it is coming as we speak.[/quote]

I don’t disagree that this happens… heck I’ve experienced it (to a much smaller degree!!!) when my dad passed away 2.5 years ago. But I think it’s not as common in the scale (size of inheritance) that you mention. I think more typical would be a few hundred thousand – maybe enough to pay off or pay down a small mortgage, but not enough to blow on a big house with big upkeep.

And it’s a trend that will be going away… I’ve read so many articles about the boomers underfunding their retirement and living beyond their means. Granted, the boomer generation didn’t start till 1946 – so the oldest are only 64. I’ve seen this myself with older coworkers and family who didn’t get serious about retirement till their late 40’s, and or spent retirement savings on their childrens college fund. Their kids may have good educations, but now the parents have mortgages into retirement years and can’t retire.

[UCGal]

My non-educated, not in the trenches, gut feeling is that it will be flat to trending down. Unless the house has great finishes AND great location AND something else extra like an oversized lot and cul-de-sac location.

I see anecdotal evidence of higher prices on nice houses in good locations. But if the house has any problem with location or fit/finish then it’s trending down.

I follow my neighborhood (south University City) pretty closely. Those houses that have issues are either staying on the market or dropping in price before selling. Those houses that are on quiet streets, back to a canyon, fixed up nice, seem to get a premium.

Here are examples of recent sales.
A house that fetched a premium, IMO… I’ve been inside this house, it’s nice.
http://www.sdlookup.com/MLS-100026173-5844_Dirac_St_San_Diego_CA_92122
It’s on a nice, quiet, dead end street, canyon and Mt. Soledad view, nice pool. Lot is 10k sf (typical is 5k in this neighborhood)

Here’s a similarly sized house that sold for more than $100k less, same schools, also a dead end street. Also a large lot… but it was beat inside (had been a rental).
http://www.sdlookup.com/MLS-100020116-4311_Robbins_St_San_Diego_CA_92122

And another house, similar size that sold for less than the premium one…
http://www.sdlookup.com/MLS-100010498-4695_Pauling_Ave_San_Diego_CA_92122
It’s got nice enough finishes (not high end, but nice, clean, etc). Lot is 5k., street is a feeder street for the sub-neighborhood.

Based on seeing things like this – I see some houses going up in value if they have the perfect combination of location, finishes, etc. If the finishes are off, or if the location is less wonderful, the price seems to be declining.

Here’s an example of a house chasing the market down.
http://www.sdlookup.com/MLS-100030678-4327_Benhurst_Ave_San_Diego_CA_92122
It’s nice – but the lot size is standard (5k), it backs to the main street, and it’s way overpriced. It’s been listed under 5 different MLS#’s in the past 18 months… chasing the market down. It’s not premium enough to fetch the premium price. Even with $150k off the original list price, it’s not selling.

[UCGal]

My non-educated, not in the trenches, gut feeling is that it will be flat to trending down. Unless the house has great finishes AND great location AND something else extra like an oversized lot and cul-de-sac location.

I see anecdotal evidence of higher prices on nice houses in good locations. But if the house has any problem with location or fit/finish then it’s trending down.

I follow my neighborhood (south University City) pretty closely. Those houses that have issues are either staying on the market or dropping in price before selling. Those houses that are on quiet streets, back to a canyon, fixed up nice, seem to get a premium.

Here are examples of recent sales.
A house that fetched a premium, IMO… I’ve been inside this house, it’s nice.
http://www.sdlookup.com/MLS-100026173-5844_Dirac_St_San_Diego_CA_92122
It’s on a nice, quiet, dead end street, canyon and Mt. Soledad view, nice pool. Lot is 10k sf (typical is 5k in this neighborhood)

Here’s a similarly sized house that sold for more than $100k less, same schools, also a dead end street. Also a large lot… but it was beat inside (had been a rental).
http://www.sdlookup.com/MLS-100020116-4311_Robbins_St_San_Diego_CA_92122

And another house, similar size that sold for less than the premium one…
http://www.sdlookup.com/MLS-100010498-4695_Pauling_Ave_San_Diego_CA_92122
It’s got nice enough finishes (not high end, but nice, clean, etc). Lot is 5k., street is a feeder street for the sub-neighborhood.

Based on seeing things like this – I see some houses going up in value if they have the perfect combination of location, finishes, etc. If the finishes are off, or if the location is less wonderful, the price seems to be declining.

Here’s an example of a house chasing the market down.
http://www.sdlookup.com/MLS-100030678-4327_Benhurst_Ave_San_Diego_CA_92122
It’s nice – but the lot size is standard (5k), it backs to the main street, and it’s way overpriced. It’s been listed under 5 different MLS#’s in the past 18 months… chasing the market down. It’s not premium enough to fetch the premium price. Even with $150k off the original list price, it’s not selling.

[UCGal]

My non-educated, not in the trenches, gut feeling is that it will be flat to trending down. Unless the house has great finishes AND great location AND something else extra like an oversized lot and cul-de-sac location.

I see anecdotal evidence of higher prices on nice houses in good locations. But if the house has any problem with location or fit/finish then it’s trending down.

I follow my neighborhood (south University City) pretty closely. Those houses that have issues are either staying on the market or dropping in price before selling. Those houses that are on quiet streets, back to a canyon, fixed up nice, seem to get a premium.

Here are examples of recent sales.
A house that fetched a premium, IMO… I’ve been inside this house, it’s nice.
http://www.sdlookup.com/MLS-100026173-5844_Dirac_St_San_Diego_CA_92122
It’s on a nice, quiet, dead end street, canyon and Mt. Soledad view, nice pool. Lot is 10k sf (typical is 5k in this neighborhood)

Here’s a similarly sized house that sold for more than $100k less, same schools, also a dead end street. Also a large lot… but it was beat inside (had been a rental).
http://www.sdlookup.com/MLS-100020116-4311_Robbins_St_San_Diego_CA_92122

And another house, similar size that sold for less than the premium one…
http://www.sdlookup.com/MLS-100010498-4695_Pauling_Ave_San_Diego_CA_92122
It’s got nice enough finishes (not high end, but nice, clean, etc). Lot is 5k., street is a feeder street for the sub-neighborhood.

Based on seeing things like this – I see some houses going up in value if they have the perfect combination of location, finishes, etc. If the finishes are off, or if the location is less wonderful, the price seems to be declining.

Here’s an example of a house chasing the market down.
http://www.sdlookup.com/MLS-100030678-4327_Benhurst_Ave_San_Diego_CA_92122
It’s nice – but the lot size is standard (5k), it backs to the main street, and it’s way overpriced. It’s been listed under 5 different MLS#’s in the past 18 months… chasing the market down. It’s not premium enough to fetch the premium price. Even with $150k off the original list price, it’s not selling.

[UCGal]

My non-educated, not in the trenches, gut feeling is that it will be flat to trending down. Unless the house has great finishes AND great location AND something else extra like an oversized lot and cul-de-sac location.

I see anecdotal evidence of higher prices on nice houses in good locations. But if the house has any problem with location or fit/finish then it’s trending down.

I follow my neighborhood (south University City) pretty closely. Those houses that have issues are either staying on the market or dropping in price before selling. Those houses that are on quiet streets, back to a canyon, fixed up nice, seem to get a premium.

Here are examples of recent sales.
A house that fetched a premium, IMO… I’ve been inside this house, it’s nice.
http://www.sdlookup.com/MLS-100026173-5844_Dirac_St_San_Diego_CA_92122
It’s on a nice, quiet, dead end street, canyon and Mt. Soledad view, nice pool. Lot is 10k sf (typical is 5k in this neighborhood)

Here’s a similarly sized house that sold for more than $100k less, same schools, also a dead end street. Also a large lot… but it was beat inside (had been a rental).
http://www.sdlookup.com/MLS-100020116-4311_Robbins_St_San_Diego_CA_92122

And another house, similar size that sold for less than the premium one…
http://www.sdlookup.com/MLS-100010498-4695_Pauling_Ave_San_Diego_CA_92122
It’s got nice enough finishes (not high end, but nice, clean, etc). Lot is 5k., street is a feeder street for the sub-neighborhood.

Based on seeing things like this – I see some houses going up in value if they have the perfect combination of location, finishes, etc. If the finishes are off, or if the location is less wonderful, the price seems to be declining.

Here’s an example of a house chasing the market down.
http://www.sdlookup.com/MLS-100030678-4327_Benhurst_Ave_San_Diego_CA_92122
It’s nice – but the lot size is standard (5k), it backs to the main street, and it’s way overpriced. It’s been listed under 5 different MLS#’s in the past 18 months… chasing the market down. It’s not premium enough to fetch the premium price. Even with $150k off the original list price, it’s not selling.

[UCGal]

My non-educated, not in the trenches, gut feeling is that it will be flat to trending down. Unless the house has great finishes AND great location AND something else extra like an oversized lot and cul-de-sac location.

I see anecdotal evidence of higher prices on nice houses in good locations. But if the house has any problem with location or fit/finish then it’s trending down.

I follow my neighborhood (south University City) pretty closely. Those houses that have issues are either staying on the market or dropping in price before selling. Those houses that are on quiet streets, back to a canyon, fixed up nice, seem to get a premium.

Here are examples of recent sales.
A house that fetched a premium, IMO… I’ve been inside this house, it’s nice.
http://www.sdlookup.com/MLS-100026173-5844_Dirac_St_San_Diego_CA_92122
It’s on a nice, quiet, dead end street, canyon and Mt. Soledad view, nice pool. Lot is 10k sf (typical is 5k in this neighborhood)

Here’s a similarly sized house that sold for more than $100k less, same schools, also a dead end street. Also a large lot… but it was beat inside (had been a rental).
http://www.sdlookup.com/MLS-100020116-4311_Robbins_St_San_Diego_CA_92122

And another house, similar size that sold for less than the premium one…
http://www.sdlookup.com/MLS-100010498-4695_Pauling_Ave_San_Diego_CA_92122
It’s got nice enough finishes (not high end, but nice, clean, etc). Lot is 5k., street is a feeder street for the sub-neighborhood.

Based on seeing things like this – I see some houses going up in value if they have the perfect combination of location, finishes, etc. If the finishes are off, or if the location is less wonderful, the price seems to be declining.

Here’s an example of a house chasing the market down.
http://www.sdlookup.com/MLS-100030678-4327_Benhurst_Ave_San_Diego_CA_92122
It’s nice – but the lot size is standard (5k), it backs to the main street, and it’s way overpriced. It’s been listed under 5 different MLS#’s in the past 18 months… chasing the market down. It’s not premium enough to fetch the premium price. Even with $150k off the original list price, it’s not selling.

[UCGal]

It sounds like the stilts are supported on caissons or engineered piers. You’d definitely want a soils test. Certain areas have a lot of “stilt” houses and soil that tends to liquify… the side of Mt. Soledad, above I-5 has always made me nervous.

Depending on when it was built, you may be able to get the original records/plans/inspections. I was surprised we were able to get the soils report for our street (homes built in 1964). It was all there at the city offices.

[UCGal]

It sounds like the stilts are supported on caissons or engineered piers. You’d definitely want a soils test. Certain areas have a lot of “stilt” houses and soil that tends to liquify… the side of Mt. Soledad, above I-5 has always made me nervous.

Depending on when it was built, you may be able to get the original records/plans/inspections. I was surprised we were able to get the soils report for our street (homes built in 1964). It was all there at the city offices.

[UCGal]

It sounds like the stilts are supported on caissons or engineered piers. You’d definitely want a soils test. Certain areas have a lot of “stilt” houses and soil that tends to liquify… the side of Mt. Soledad, above I-5 has always made me nervous.

Depending on when it was built, you may be able to get the original records/plans/inspections. I was surprised we were able to get the soils report for our street (homes built in 1964). It was all there at the city offices.

[UCGal]

It sounds like the stilts are supported on caissons or engineered piers. You’d definitely want a soils test. Certain areas have a lot of “stilt” houses and soil that tends to liquify… the side of Mt. Soledad, above I-5 has always made me nervous.

Depending on when it was built, you may be able to get the original records/plans/inspections. I was surprised we were able to get the soils report for our street (homes built in 1964). It was all there at the city offices.

[UCGal]

It sounds like the stilts are supported on caissons or engineered piers. You’d definitely want a soils test. Certain areas have a lot of “stilt” houses and soil that tends to liquify… the side of Mt. Soledad, above I-5 has always made me nervous.

Depending on when it was built, you may be able to get the original records/plans/inspections. I was surprised we were able to get the soils report for our street (homes built in 1964). It was all there at the city offices.

[UCGal]

We had a pool in the backyard growing up. When all of us kids left for college my dad got tired of paying for chemicals and cleaning it. So he drained it and built a “kidney shaped” deck. He built some shelves in the deep end stored various camping gear/yard equipment.

That got old – so he got a permit to remove it about 8 years later. He hired some guys to punch the holes in the bottom. He also had the pumps & old gas heater removed and the gas line capped.

He had them chip away the coping and top foot of the concrete and toss it in the bottom. He had the concrete decking changed from kidney shaped to a large rectangle and that concrete was also tossed in the bottom. One of the big expenses is the fill dirt… He paid to have gravel put in. Then looked for fill dirt for free… and filled it in himself, one pickup load at a time. Finally – he got free soil and mulch from the Miramar landfill – layered that on top…

It’s now a nice area with flowers, fruit trees, and a veggie garden.

Even though my dad did the permit/inspection route – it still shows on the city/county records that we have a pool. We get lots of ads for pool equipment and zillow says we have a pool. I’m not sure how to correct that… it was taken out 20 years ago and I’ve owned the house less than 10 years.

[UCGal]

We had a pool in the backyard growing up. When all of us kids left for college my dad got tired of paying for chemicals and cleaning it. So he drained it and built a “kidney shaped” deck. He built some shelves in the deep end stored various camping gear/yard equipment.

That got old – so he got a permit to remove it about 8 years later. He hired some guys to punch the holes in the bottom. He also had the pumps & old gas heater removed and the gas line capped.

He had them chip away the coping and top foot of the concrete and toss it in the bottom. He had the concrete decking changed from kidney shaped to a large rectangle and that concrete was also tossed in the bottom. One of the big expenses is the fill dirt… He paid to have gravel put in. Then looked for fill dirt for free… and filled it in himself, one pickup load at a time. Finally – he got free soil and mulch from the Miramar landfill – layered that on top…

It’s now a nice area with flowers, fruit trees, and a veggie garden.

Even though my dad did the permit/inspection route – it still shows on the city/county records that we have a pool. We get lots of ads for pool equipment and zillow says we have a pool. I’m not sure how to correct that… it was taken out 20 years ago and I’ve owned the house less than 10 years.

[Author]

Posts