[UCGal]

I notice you mentioned that you’ll have lower costs buying than your current rent.

Are you looking to own long term… In other words, is this a shelter decision?

Or are you looking at this purchase as an investment… where ROI is the bottom line.

I’m in the minority on this board, I think, since I tend to look at home purchases in terms of affordability of shelter. I don’t look at owning a house strictly in investment terms. It would be silly to do that if you don’t have plans to sell in the forseeable future.

If your plan is to buy, live there, and hold it for the long term… and this house meets your needs and you can afford it. Go for it.

But, if this is a stepping stone home… with plans to buy bigger/better in the future, or if you think the odds are decent you’ll be relocating in the future, don’t buy now… the prices will be coming down and you’ll lose money on the deal.

[UCGal]

I notice you mentioned that you’ll have lower costs buying than your current rent.

Are you looking to own long term… In other words, is this a shelter decision?

Or are you looking at this purchase as an investment… where ROI is the bottom line.

I’m in the minority on this board, I think, since I tend to look at home purchases in terms of affordability of shelter. I don’t look at owning a house strictly in investment terms. It would be silly to do that if you don’t have plans to sell in the forseeable future.

If your plan is to buy, live there, and hold it for the long term… and this house meets your needs and you can afford it. Go for it.

But, if this is a stepping stone home… with plans to buy bigger/better in the future, or if you think the odds are decent you’ll be relocating in the future, don’t buy now… the prices will be coming down and you’ll lose money on the deal.

[UCGal]

I notice you mentioned that you’ll have lower costs buying than your current rent.

Are you looking to own long term… In other words, is this a shelter decision?

Or are you looking at this purchase as an investment… where ROI is the bottom line.

I’m in the minority on this board, I think, since I tend to look at home purchases in terms of affordability of shelter. I don’t look at owning a house strictly in investment terms. It would be silly to do that if you don’t have plans to sell in the forseeable future.

If your plan is to buy, live there, and hold it for the long term… and this house meets your needs and you can afford it. Go for it.

But, if this is a stepping stone home… with plans to buy bigger/better in the future, or if you think the odds are decent you’ll be relocating in the future, don’t buy now… the prices will be coming down and you’ll lose money on the deal.

[UCGal]

Way back in the pre-MelloRoos days developers had to kick in for some of these things. I live in University City – developers had to kick in for the Regents Road bridge (that still isn’t built due to NIMBYism.). That money is still sitting, escrowed, in the city coffers while various factions fight over it. Developers also had to kick in towards building Curie, Marcy (now gone), Standley M.S., and UCHS. It was part of getting the development approved – the developers had to kick in for infrastructure. It didn’t mean this stuff got built in a timely fashion… Standley was 5 years behind the developers promises, UCHS about 10 years behind it.

Then they came up with a way to pass that on, more directly, to the homeowner…

[UCGal]

Way back in the pre-MelloRoos days developers had to kick in for some of these things. I live in University City – developers had to kick in for the Regents Road bridge (that still isn’t built due to NIMBYism.). That money is still sitting, escrowed, in the city coffers while various factions fight over it. Developers also had to kick in towards building Curie, Marcy (now gone), Standley M.S., and UCHS. It was part of getting the development approved – the developers had to kick in for infrastructure. It didn’t mean this stuff got built in a timely fashion… Standley was 5 years behind the developers promises, UCHS about 10 years behind it.

Then they came up with a way to pass that on, more directly, to the homeowner…

[UCGal]

Way back in the pre-MelloRoos days developers had to kick in for some of these things. I live in University City – developers had to kick in for the Regents Road bridge (that still isn’t built due to NIMBYism.). That money is still sitting, escrowed, in the city coffers while various factions fight over it. Developers also had to kick in towards building Curie, Marcy (now gone), Standley M.S., and UCHS. It was part of getting the development approved – the developers had to kick in for infrastructure. It didn’t mean this stuff got built in a timely fashion… Standley was 5 years behind the developers promises, UCHS about 10 years behind it.

Then they came up with a way to pass that on, more directly, to the homeowner…

[UCGal]

Way back in the pre-MelloRoos days developers had to kick in for some of these things. I live in University City – developers had to kick in for the Regents Road bridge (that still isn’t built due to NIMBYism.). That money is still sitting, escrowed, in the city coffers while various factions fight over it. Developers also had to kick in towards building Curie, Marcy (now gone), Standley M.S., and UCHS. It was part of getting the development approved – the developers had to kick in for infrastructure. It didn’t mean this stuff got built in a timely fashion… Standley was 5 years behind the developers promises, UCHS about 10 years behind it.

Then they came up with a way to pass that on, more directly, to the homeowner…

[UCGal]

Way back in the pre-MelloRoos days developers had to kick in for some of these things. I live in University City – developers had to kick in for the Regents Road bridge (that still isn’t built due to NIMBYism.). That money is still sitting, escrowed, in the city coffers while various factions fight over it. Developers also had to kick in towards building Curie, Marcy (now gone), Standley M.S., and UCHS. It was part of getting the development approved – the developers had to kick in for infrastructure. It didn’t mean this stuff got built in a timely fashion… Standley was 5 years behind the developers promises, UCHS about 10 years behind it.

Then they came up with a way to pass that on, more directly, to the homeowner…

[UCGal]

[quote=urod][quote=Rt.66]
This is odd. So many contractors are out of work right now that they are bidding jobs at 1/2 the rates of 2006. Construction materials have come way down. [/quote]
Contractor do not bid jobs at 1/2 the rates of 2006. They still trying to charge their imaginary
year 2006 rates ($200-$300/h). I know that for sure – building a house in RB. And they prefer to be on unemployment, but not to work at normal rates.
And there are quite a few vacant burned lots for sale in RB with no permit fees, no school fees ( at least $40,000 value) to build. And they are still do nothing.[/quote]
I can confirm this. Contractors, are still bidding at delusional prices. And we interviewed contractors that were based up in Riverside. They’re semi-hungry – willing to commute. But not willing to drop their 2006 prices. We’re holding off on doing more projects because of it.

[UCGal]

[quote=urod][quote=Rt.66]
This is odd. So many contractors are out of work right now that they are bidding jobs at 1/2 the rates of 2006. Construction materials have come way down. [/quote]
Contractor do not bid jobs at 1/2 the rates of 2006. They still trying to charge their imaginary
year 2006 rates ($200-$300/h). I know that for sure – building a house in RB. And they prefer to be on unemployment, but not to work at normal rates.
And there are quite a few vacant burned lots for sale in RB with no permit fees, no school fees ( at least $40,000 value) to build. And they are still do nothing.[/quote]
I can confirm this. Contractors, are still bidding at delusional prices. And we interviewed contractors that were based up in Riverside. They’re semi-hungry – willing to commute. But not willing to drop their 2006 prices. We’re holding off on doing more projects because of it.

[UCGal]

[quote=urod][quote=Rt.66]
This is odd. So many contractors are out of work right now that they are bidding jobs at 1/2 the rates of 2006. Construction materials have come way down. [/quote]
Contractor do not bid jobs at 1/2 the rates of 2006. They still trying to charge their imaginary
year 2006 rates ($200-$300/h). I know that for sure – building a house in RB. And they prefer to be on unemployment, but not to work at normal rates.
And there are quite a few vacant burned lots for sale in RB with no permit fees, no school fees ( at least $40,000 value) to build. And they are still do nothing.[/quote]
I can confirm this. Contractors, are still bidding at delusional prices. And we interviewed contractors that were based up in Riverside. They’re semi-hungry – willing to commute. But not willing to drop their 2006 prices. We’re holding off on doing more projects because of it.

[UCGal]

[quote=urod][quote=Rt.66]
This is odd. So many contractors are out of work right now that they are bidding jobs at 1/2 the rates of 2006. Construction materials have come way down. [/quote]
Contractor do not bid jobs at 1/2 the rates of 2006. They still trying to charge their imaginary
year 2006 rates ($200-$300/h). I know that for sure – building a house in RB. And they prefer to be on unemployment, but not to work at normal rates.
And there are quite a few vacant burned lots for sale in RB with no permit fees, no school fees ( at least $40,000 value) to build. And they are still do nothing.[/quote]
I can confirm this. Contractors, are still bidding at delusional prices. And we interviewed contractors that were based up in Riverside. They’re semi-hungry – willing to commute. But not willing to drop their 2006 prices. We’re holding off on doing more projects because of it.

[UCGal]

[quote=urod][quote=Rt.66]
This is odd. So many contractors are out of work right now that they are bidding jobs at 1/2 the rates of 2006. Construction materials have come way down. [/quote]
Contractor do not bid jobs at 1/2 the rates of 2006. They still trying to charge their imaginary
year 2006 rates ($200-$300/h). I know that for sure – building a house in RB. And they prefer to be on unemployment, but not to work at normal rates.
And there are quite a few vacant burned lots for sale in RB with no permit fees, no school fees ( at least $40,000 value) to build. And they are still do nothing.[/quote]
I can confirm this. Contractors, are still bidding at delusional prices. And we interviewed contractors that were based up in Riverside. They’re semi-hungry – willing to commute. But not willing to drop their 2006 prices. We’re holding off on doing more projects because of it.

[UCGal]

[quote=Rt.66]Obama just announced on CNBC that the new mall in Temecula is going to bring the nation out of the depression. He specifically mentioned the crowds at PF Changs.[/quote]
LOL

[UCGal]

[quote=Rt.66]Obama just announced on CNBC that the new mall in Temecula is going to bring the nation out of the depression. He specifically mentioned the crowds at PF Changs.[/quote]
LOL

[Author]

Posts