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XBoxBoy
Participant[quote=carlsbadworker]The way I look at, deflation is really bad for the rich people (snip). (On the other hand, inflation is bad for ordinary folks
[/quote]I think this is a really bad way to view things. Deflation is really bad for those who own assets and for people who owe lots of money.
Think about that for a minute. The asset holders are probably wealthy, but the ones who owe lots of money are just as likely to be poor or middle class as wealthy.
Conversely, deflation is good for those who have lots of savings or have few if any debts and people on fixed income. Again, think about it. The ones who are likely to have savings are probably wealthier, but those will little debt could be anywhere on the spectrum, and those on fixed income are usually retired or on disability (generally not what I think of as wealthy).
So, it seems to me that trying to define this issue in terms of class is fairly unsupportable when you think it through.
XBoxBoy
Participant[quote=carlsbadworker]The way I look at, deflation is really bad for the rich people (snip). (On the other hand, inflation is bad for ordinary folks
[/quote]I think this is a really bad way to view things. Deflation is really bad for those who own assets and for people who owe lots of money.
Think about that for a minute. The asset holders are probably wealthy, but the ones who owe lots of money are just as likely to be poor or middle class as wealthy.
Conversely, deflation is good for those who have lots of savings or have few if any debts and people on fixed income. Again, think about it. The ones who are likely to have savings are probably wealthier, but those will little debt could be anywhere on the spectrum, and those on fixed income are usually retired or on disability (generally not what I think of as wealthy).
So, it seems to me that trying to define this issue in terms of class is fairly unsupportable when you think it through.
XBoxBoy
Participantgoblue,
I’ve struggled with what if any opinion to offer. But you asked….
Rule 1 about La Jolla. Comps can be very deceptive. Very few houses that sell in La Jolla have good comps that are similar. Everything is different street to street, house to house. Ultimately you have to make a decision based on what you are willing to pay and how much you like the house.
With that in mind, I would not pay much attention to price per square foot. In Manhattan, it’s probably a good metric to gauge how good a deal you are getting. But in La Jolla, where a huge part of your purchase price is for the land, not the house, you would do as well to consider price for lot size. But even that is a terrible metric, because where that lot is located is tremendously important. (Never forget – Location, Location, Location. And in La Jolla, that changes block to block)
Even in Bird Rock, where most of the streets are quiet and have a tremendous sense of neighborhood, there are a few blocks that have heavy traffic and little sense of neighborhood, and should be discounted significantly because of that.
You mention wanting to see what shakes out in 9-12 months. Let me offer the opinion that not much will shake out in 9-12 months. I could be wrong, maybe this fall a lot will shake out, but my hunch is more likely 2-3 years. If you’re going to wait, get comfortable.
Interest rates are definitely the wild card in your plan. If you decide to not buy this place, who knows where interest rates will be in a year or two. I could see them as low, or even lower than they are currently, or I could see them much much higher. Both scenarios seem possible to me. (Although obviously only one will come to pass)
XBoxBoy
Participantgoblue,
I’ve struggled with what if any opinion to offer. But you asked….
Rule 1 about La Jolla. Comps can be very deceptive. Very few houses that sell in La Jolla have good comps that are similar. Everything is different street to street, house to house. Ultimately you have to make a decision based on what you are willing to pay and how much you like the house.
With that in mind, I would not pay much attention to price per square foot. In Manhattan, it’s probably a good metric to gauge how good a deal you are getting. But in La Jolla, where a huge part of your purchase price is for the land, not the house, you would do as well to consider price for lot size. But even that is a terrible metric, because where that lot is located is tremendously important. (Never forget – Location, Location, Location. And in La Jolla, that changes block to block)
Even in Bird Rock, where most of the streets are quiet and have a tremendous sense of neighborhood, there are a few blocks that have heavy traffic and little sense of neighborhood, and should be discounted significantly because of that.
You mention wanting to see what shakes out in 9-12 months. Let me offer the opinion that not much will shake out in 9-12 months. I could be wrong, maybe this fall a lot will shake out, but my hunch is more likely 2-3 years. If you’re going to wait, get comfortable.
Interest rates are definitely the wild card in your plan. If you decide to not buy this place, who knows where interest rates will be in a year or two. I could see them as low, or even lower than they are currently, or I could see them much much higher. Both scenarios seem possible to me. (Although obviously only one will come to pass)
XBoxBoy
Participantgoblue,
I’ve struggled with what if any opinion to offer. But you asked….
Rule 1 about La Jolla. Comps can be very deceptive. Very few houses that sell in La Jolla have good comps that are similar. Everything is different street to street, house to house. Ultimately you have to make a decision based on what you are willing to pay and how much you like the house.
With that in mind, I would not pay much attention to price per square foot. In Manhattan, it’s probably a good metric to gauge how good a deal you are getting. But in La Jolla, where a huge part of your purchase price is for the land, not the house, you would do as well to consider price for lot size. But even that is a terrible metric, because where that lot is located is tremendously important. (Never forget – Location, Location, Location. And in La Jolla, that changes block to block)
Even in Bird Rock, where most of the streets are quiet and have a tremendous sense of neighborhood, there are a few blocks that have heavy traffic and little sense of neighborhood, and should be discounted significantly because of that.
You mention wanting to see what shakes out in 9-12 months. Let me offer the opinion that not much will shake out in 9-12 months. I could be wrong, maybe this fall a lot will shake out, but my hunch is more likely 2-3 years. If you’re going to wait, get comfortable.
Interest rates are definitely the wild card in your plan. If you decide to not buy this place, who knows where interest rates will be in a year or two. I could see them as low, or even lower than they are currently, or I could see them much much higher. Both scenarios seem possible to me. (Although obviously only one will come to pass)
XBoxBoy
Participantgoblue,
I’ve struggled with what if any opinion to offer. But you asked….
Rule 1 about La Jolla. Comps can be very deceptive. Very few houses that sell in La Jolla have good comps that are similar. Everything is different street to street, house to house. Ultimately you have to make a decision based on what you are willing to pay and how much you like the house.
With that in mind, I would not pay much attention to price per square foot. In Manhattan, it’s probably a good metric to gauge how good a deal you are getting. But in La Jolla, where a huge part of your purchase price is for the land, not the house, you would do as well to consider price for lot size. But even that is a terrible metric, because where that lot is located is tremendously important. (Never forget – Location, Location, Location. And in La Jolla, that changes block to block)
Even in Bird Rock, where most of the streets are quiet and have a tremendous sense of neighborhood, there are a few blocks that have heavy traffic and little sense of neighborhood, and should be discounted significantly because of that.
You mention wanting to see what shakes out in 9-12 months. Let me offer the opinion that not much will shake out in 9-12 months. I could be wrong, maybe this fall a lot will shake out, but my hunch is more likely 2-3 years. If you’re going to wait, get comfortable.
Interest rates are definitely the wild card in your plan. If you decide to not buy this place, who knows where interest rates will be in a year or two. I could see them as low, or even lower than they are currently, or I could see them much much higher. Both scenarios seem possible to me. (Although obviously only one will come to pass)
XBoxBoy
Participantgoblue,
I’ve struggled with what if any opinion to offer. But you asked….
Rule 1 about La Jolla. Comps can be very deceptive. Very few houses that sell in La Jolla have good comps that are similar. Everything is different street to street, house to house. Ultimately you have to make a decision based on what you are willing to pay and how much you like the house.
With that in mind, I would not pay much attention to price per square foot. In Manhattan, it’s probably a good metric to gauge how good a deal you are getting. But in La Jolla, where a huge part of your purchase price is for the land, not the house, you would do as well to consider price for lot size. But even that is a terrible metric, because where that lot is located is tremendously important. (Never forget – Location, Location, Location. And in La Jolla, that changes block to block)
Even in Bird Rock, where most of the streets are quiet and have a tremendous sense of neighborhood, there are a few blocks that have heavy traffic and little sense of neighborhood, and should be discounted significantly because of that.
You mention wanting to see what shakes out in 9-12 months. Let me offer the opinion that not much will shake out in 9-12 months. I could be wrong, maybe this fall a lot will shake out, but my hunch is more likely 2-3 years. If you’re going to wait, get comfortable.
Interest rates are definitely the wild card in your plan. If you decide to not buy this place, who knows where interest rates will be in a year or two. I could see them as low, or even lower than they are currently, or I could see them much much higher. Both scenarios seem possible to me. (Although obviously only one will come to pass)
XBoxBoy
Participant[quote=sushilover]does it make sense to hire a discount realtor? Are they giving advise on the properties?[/quote]
Sushilover,
Before you make the biggest purchase of your life, please understand something. Unfortunately, the way realtors are paid causes lots of conflicts of interest, and lots of bad incentives to the realtors to mislead you. So, it really falls on you to learn about the neighborhood you are interested in, the current state of the market, and a host of other issues. Any advice anyone gives you, whether it is a seller, a realtor, a neighbor or even a friend, you need to question and I mean really question. The people who blindly trust their realtor to represent their interest are the ones most likely to be “taken”.
That’s not to say there aren’t some very good and ethical realtors out there. But the system is very corrupt, and there are lots of rather shader realtors who are very good at giving the impression they are extremely ethical, when in fact they are not. Sad but true.
More to the point of your question, ethical agents are just as likely to be discount realtors as full price realtors. Likewise a discount realtor is just as likely to give honest advice as a full price realtor. So, if getting advice from your realtor is something you want, (which I think you should be very cautious about) then I don’t see any disadvantage to a discount broker.
If you’re looking for a discount realtor, I believe that SD Realtor (who posts here regularly) does give discounts, but you’d need to check with him for specifics.
XBoxBoy
Participant[quote=sushilover]does it make sense to hire a discount realtor? Are they giving advise on the properties?[/quote]
Sushilover,
Before you make the biggest purchase of your life, please understand something. Unfortunately, the way realtors are paid causes lots of conflicts of interest, and lots of bad incentives to the realtors to mislead you. So, it really falls on you to learn about the neighborhood you are interested in, the current state of the market, and a host of other issues. Any advice anyone gives you, whether it is a seller, a realtor, a neighbor or even a friend, you need to question and I mean really question. The people who blindly trust their realtor to represent their interest are the ones most likely to be “taken”.
That’s not to say there aren’t some very good and ethical realtors out there. But the system is very corrupt, and there are lots of rather shader realtors who are very good at giving the impression they are extremely ethical, when in fact they are not. Sad but true.
More to the point of your question, ethical agents are just as likely to be discount realtors as full price realtors. Likewise a discount realtor is just as likely to give honest advice as a full price realtor. So, if getting advice from your realtor is something you want, (which I think you should be very cautious about) then I don’t see any disadvantage to a discount broker.
If you’re looking for a discount realtor, I believe that SD Realtor (who posts here regularly) does give discounts, but you’d need to check with him for specifics.
XBoxBoy
Participant[quote=sushilover]does it make sense to hire a discount realtor? Are they giving advise on the properties?[/quote]
Sushilover,
Before you make the biggest purchase of your life, please understand something. Unfortunately, the way realtors are paid causes lots of conflicts of interest, and lots of bad incentives to the realtors to mislead you. So, it really falls on you to learn about the neighborhood you are interested in, the current state of the market, and a host of other issues. Any advice anyone gives you, whether it is a seller, a realtor, a neighbor or even a friend, you need to question and I mean really question. The people who blindly trust their realtor to represent their interest are the ones most likely to be “taken”.
That’s not to say there aren’t some very good and ethical realtors out there. But the system is very corrupt, and there are lots of rather shader realtors who are very good at giving the impression they are extremely ethical, when in fact they are not. Sad but true.
More to the point of your question, ethical agents are just as likely to be discount realtors as full price realtors. Likewise a discount realtor is just as likely to give honest advice as a full price realtor. So, if getting advice from your realtor is something you want, (which I think you should be very cautious about) then I don’t see any disadvantage to a discount broker.
If you’re looking for a discount realtor, I believe that SD Realtor (who posts here regularly) does give discounts, but you’d need to check with him for specifics.
XBoxBoy
Participant[quote=sushilover]does it make sense to hire a discount realtor? Are they giving advise on the properties?[/quote]
Sushilover,
Before you make the biggest purchase of your life, please understand something. Unfortunately, the way realtors are paid causes lots of conflicts of interest, and lots of bad incentives to the realtors to mislead you. So, it really falls on you to learn about the neighborhood you are interested in, the current state of the market, and a host of other issues. Any advice anyone gives you, whether it is a seller, a realtor, a neighbor or even a friend, you need to question and I mean really question. The people who blindly trust their realtor to represent their interest are the ones most likely to be “taken”.
That’s not to say there aren’t some very good and ethical realtors out there. But the system is very corrupt, and there are lots of rather shader realtors who are very good at giving the impression they are extremely ethical, when in fact they are not. Sad but true.
More to the point of your question, ethical agents are just as likely to be discount realtors as full price realtors. Likewise a discount realtor is just as likely to give honest advice as a full price realtor. So, if getting advice from your realtor is something you want, (which I think you should be very cautious about) then I don’t see any disadvantage to a discount broker.
If you’re looking for a discount realtor, I believe that SD Realtor (who posts here regularly) does give discounts, but you’d need to check with him for specifics.
XBoxBoy
Participant[quote=sushilover]does it make sense to hire a discount realtor? Are they giving advise on the properties?[/quote]
Sushilover,
Before you make the biggest purchase of your life, please understand something. Unfortunately, the way realtors are paid causes lots of conflicts of interest, and lots of bad incentives to the realtors to mislead you. So, it really falls on you to learn about the neighborhood you are interested in, the current state of the market, and a host of other issues. Any advice anyone gives you, whether it is a seller, a realtor, a neighbor or even a friend, you need to question and I mean really question. The people who blindly trust their realtor to represent their interest are the ones most likely to be “taken”.
That’s not to say there aren’t some very good and ethical realtors out there. But the system is very corrupt, and there are lots of rather shader realtors who are very good at giving the impression they are extremely ethical, when in fact they are not. Sad but true.
More to the point of your question, ethical agents are just as likely to be discount realtors as full price realtors. Likewise a discount realtor is just as likely to give honest advice as a full price realtor. So, if getting advice from your realtor is something you want, (which I think you should be very cautious about) then I don’t see any disadvantage to a discount broker.
If you’re looking for a discount realtor, I believe that SD Realtor (who posts here regularly) does give discounts, but you’d need to check with him for specifics.
XBoxBoy
Participant[quote=CA renter][quote=XBoxBoy]
- stated purpose
[/quote]
Highlighted the key point there.
[/quote]
Yes, I wondered how many would catch that. In no way do I mean to imply that the government actually wanted what they stated. Just pointing out the irony of the situation.
XBoxBoy
Participant[quote=CA renter][quote=XBoxBoy]
- stated purpose
[/quote]
Highlighted the key point there.
[/quote]
Yes, I wondered how many would catch that. In no way do I mean to imply that the government actually wanted what they stated. Just pointing out the irony of the situation.
XBoxBoy
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