I had a great idea.
1) Buy a I had a great idea.
1) Buy a place with 0 down.
2) Don’t pay anything ever.
3) Save like crazy.
I figure it will take over a year to get kicked out. By then with prices going down I might be able to buy a place all cash.
donaldduckmoore
April 28, 2009 @
11:01 AM
tc wrote:I had a great [quote=tc]I had a great idea.
1) Buy a place with 0 down.
2) Don’t pay anything ever.
3) Save like crazy.
I figure it will take over a year to get kicked out. By then with prices going down I might be able to buy a place all cash.[/quote]
Yes, it is better than renting.
SanDiegoDave
April 27, 2009 @
12:49 PM
Closed earlier this Closed earlier this month.
Not a “dream home” – but a home we love, and that is a size & price well within our means and socioeconomic status.
40% down. 30-year fixed. 4.49%
jpinpb
April 27, 2009 @
12:55 PM
SDD – you are a success story SDD – you are a success story 🙂
SanDiegoDave
April 27, 2009 @
3:36 PM
jpinpb wrote:SDD – you are a [quote=jpinpb]SDD – you are a success story :)[/quote]
Thanks jp!
On a side issue:
The home we closed on several weeks ago still shows “Sale Pending” at SDL.
Who or what triggers the listings in MLS/Sandicor/etc. to show up as closed? Does the selling agent or escrow company have any say over this? We have some theories as to why it still shows pending, but I’d like to know the process first because I sound too conspiratorial.
jpinpb
April 27, 2009 @
3:41 PM
I’d like to know your I’d like to know your theories.
SDL has some issues. Houserebate is showing MLS listings that are not showing up on SDL. I mean weeks go by and still not showing up for sale on SDL. I tried to just start marking them as for sale on SDL, even though they don’t have it listed. Then, weird, it started not letting me do even that. It shows as “No longer listed” when it just listed that day. It won’t let me post any comments on the property. In effect, blocking me from showing it’s listed.
So, SDL is less than perfect.
KIBU
April 27, 2009 @
4:09 PM
I have a similar experience I have a similar experience too. 2 times a home was on the market for a while, pending, dropped out, re listed, pending again…..and SDL never had any record of theses or the fact that the home was on the market. Weird and unreliable.
jpinpb
April 27, 2009 @
4:13 PM
Well, I know they don’t Well, I know they don’t indicate any sales on the courthouse steps, whereas Redfin, I think, does. I’m not going to complain too much, b/c it is the best we got and I’m glad to have that. But I rely on it for listings and now have had to sign up w/Houserebate to get the new listings funneled. It’s a little deceiving to not show all the listings and it’s disappointing.
Going OT on my own thread, lol.
ibjames
April 27, 2009 @
5:06 PM
if you bought a house, did if you bought a house, did you have to bid war? Did you have a super aggressive realtor that would meet you within 5 minutes of the listing being listed? If not I don’t know how anyone is buying things these days
eclipxe
April 27, 2009 @
5:16 PM
ibjames wrote:if you bought a [quote=ibjames]if you bought a house, did you have to bid war? Did you have a super aggressive realtor that would meet you within 5 minutes of the listing being listed? If not I don’t know how anyone is buying things these days[/quote]
I bought a house (Jan), had a bidding war with 13 others. I was in front of the house the day it was listed after getting bank short sale approval. Offer was in 15 minutes later. Several offers came in after mine that same day. Agent was family friend. Seller’s agent and I went to the same college (we didn’t know during the sale – I met her after and she gave me details on the other offers once she knew we were both alumni).
Temecula
Coronita
April 27, 2009 @
9:22 PM
ibjames wrote:if you bought a [quote=ibjames]if you bought a house, did you have to bid war? [/quote]
Actually no… In 2004, we walked out all all homes for which there was a “multiple offers”….The home we ended up buying we bought on superbowl weekend. …A home that fell out of escrow twice due to buyer’s unable to perform, with a seller that made it difficult for buyer’s to check the place out (no open house, weird showing hours).
Ended up paying about $60k below his asking, and about $20k below the two other buyers. We wrote an lower-priced offer that night, and the seller countered slightly up that night. We wanted to get a signed deal that evening and seller wanted to get it done too because they were sick of things falling out of escrow.
We had a really strong application, seller wanted us to cut down the contingency length, we countered with that being ok, but cut down the price by another $10k (since we were no hurry). Seller obliged, wanted to do a month’s worth of rent back. (which he later ended up deciding not to do it because his rent payments would have been close $3700, which he didn’t realize it would be that much since he was use to seeing all those buyers that did interest only instead of 30year fixed :))
It was a done deal the next morning….The funny part was the next day, we sort of went back to the home to inspect things for our sanity, and a few strangers knocked on the door and asked us if this home was still available and were willing to make a full price offer.(In hindsight, I guess we should have flipped it right after escrow).
In that circumstance, i guess it helped to have an RE agent that was a woman who didn’t care about the Superbowl and a seller’s agent who happened not to care about the two teams that were playing that year.
Our agent ended up rebating a good percentage of her commision back to us (because she sold another place of ours at the same time and made a hefty commision off of that) and both transactions were done quickly
CA renter
April 27, 2009 @
5:00 PM
jpinpb wrote:I’d like to know [quote=jpinpb]I’d like to know your theories.
SDL has some issues. Houserebate is showing MLS listings that are not showing up on SDL. I mean weeks go by and still not showing up for sale on SDL. I tried to just start marking them as for sale on SDL, even though they don’t have it listed. Then, weird, it started not letting me do even that. It shows as “No longer listed” when it just listed that day. It won’t let me post any comments on the property. In effect, blocking me from showing it’s listed.
So, SDL is less than perfect. [/quote]
We’ve seen the same thing, too. A listing will show up on Realtor.com or Redfin, but not on SDL. Weird.
BTW, saw another funny thing the other day. About 5 or 6 days ago, a whole bunch of listings in Solana Beach were removed and then relisted, but all the pictures were gone!
It looks like the same brokerage because they have the “Top Ten Reasons to Buy Me” thing in the comments (also see this on their flyers) if you drive by. Like they are trying to force people to go directly through them to get **any** information at all, even pictures!
jpinpb
April 27, 2009 @
5:19 PM
CA renter wrote:It looks like [quote=CA renter]It looks like the same brokerage because they have the “Top Ten Reasons to Buy Me” thing in the comments (also see this on their flyers) if you drive by. Like they are trying to force people to go directly through them to get **any** information at all, even pictures![/quote]
Well, that’s a strategy. Just make it hard for someone to get info. Makes me just say f it. But I guess for those that want a challenge, it might work.
patientrenter
April 27, 2009 @
7:07 PM
Sigh, in an ideal world, the Sigh, in an ideal world, the people selling the homes would have a strong interest in getting the highest price. With that strong interest, they would advertise the home properly, and ensure that the highest (performing) bidder got the home.
But instead we have banks that don’t care any more, because their net worth is already negative. Making it worse just increases the cost of the bailout for taxpayers. For people at the bank making decisions about how the homes are sold, that’s irrelevant. If they lose their jobs because the bank was extremely insolvent, it’s the same as losing their jobs because the bank is very insolvent. There is lots of apathy. And giving a buddy a good deal becomes one of the few ways to take action that feels positive.
This is a good example of yet another economic cesspool that needs draining. How? We need someone to gain from selling the houses for the most money for taxpayers. And that means quickly transferring management of the REO process for zombie banks to another organization that is professional and earns more money for quicker and higher-priced sales. But so many palms are getting greased now that it’ll never happen.
jpinpb
April 27, 2009 @
7:09 PM
Someone is living in their Someone is living in their McMansion for free. All right. Out with it? Which Pigg is up living high on the hog?! LOL.
flu – is that you?
Coronita
April 27, 2009 @
7:57 PM
jpinpb wrote:Someone is [quote=jpinpb]Someone is living in their McMansion for free. All right. Out with it? Which Pigg is up living high on the hog?! LOL.
flu – is that you?[/quote]
Nope. No choices really fit too well. Since I upgraded in 2004. No I don’t regret that decision. What i do regret is not spending more on a home then….Stock market + crappy interest rate = would have been better off just spending more for me.
I keep saying, one of these days interest rates will be more than my fixed mortgage and inflation is eventually going to creep up. Hasn’t happened yet….I’m about to give up and just pay the damn thing off.
It’s getting close to 5 years since I bought. Still waiting deals 50% below my purchase price 🙁
Sincerely, frustrated saver.
jpinpb
April 27, 2009 @
8:35 PM
Ugh. I tried to update it to Ugh. I tried to update it to add another choice and it sent everything back to zero. Didn’t know that was going to happen. Crap.
Ok. Well, there were something like 42 votes casted and about 75% were waiting, and 1 that was living free in a McMansion, about 3 that bought their dream home, three sick of waiting that settled and 2 that are investors that keep buying, if I remember right.
Anyone w/incentive, recast your vote.
Coronita
April 27, 2009 @
8:54 PM
jpinpb wrote:Ugh. I tried to [quote=jpinpb]Ugh. I tried to update it to add another choice and it sent everything back to zero. Didn’t know that was going to happen. Crap.
Ok. Well, there were something like 42 votes casted and about 75% were waiting, and 1 that was living free in a McMansion, about 3 that bought their dream home, three sick of waiting that settled and 2 that are investors that keep buying, if I remember right.
Anyone w/incentive, recast your vote.
[/quote]
Are you going to give us a stimulus check if we revote? (It didn’t hurt to ask).
Sorry…I think my response is probably one of the reasons why you edited your original poll. You can blame me for creating havoc. I’m usually pretty good at it….Take comfort…..Data centers around the world are thankful I’m not coding right now.
You sort of still don’t have a choice for me since technically I bought before the peak peak, but it was still kind of the peak (2004 is considered peak in some areas)….Anyway, don’t break your poll again…I’ll just cast it there.
jpinpb
April 27, 2009 @
8:55 PM
I’m not blaming you, flu. I I’m not blaming you, flu. I should’ve thought of that choice in the first place! Duh.
Coronita
April 27, 2009 @
8:56 PM
jpinpb wrote:I’m not blaming [quote=jpinpb]I’m not blaming you, flu. I should’ve thought of that choice in the first place! Duh.
[/quote]
You should be…In fact I just screwed up your poll again by cancelling my previous vote… It’s showing a -1 now….
Sorry…
I’m trying to think of something witty to say about a -1 vote….Give me a second…
CA renter
April 28, 2009 @
12:21 AM
patientrenter wrote:Sigh, in [quote=patientrenter]Sigh, in an ideal world, the people selling the homes would have a strong interest in getting the highest price. With that strong interest, they would advertise the home properly, and ensure that the highest (performing) bidder got the home.
But instead we have banks that don’t care any more, because their net worth is already negative. Making it worse just increases the cost of the bailout for taxpayers. For people at the bank making decisions about how the homes are sold, that’s irrelevant. If they lose their jobs because the bank was extremely insolvent, it’s the same as losing their jobs because the bank is very insolvent. There is lots of apathy. And giving a buddy a good deal becomes one of the few ways to take action that feels positive.
This is a good example of yet another economic cesspool that needs draining. How? We need someone to gain from selling the houses for the most money for taxpayers. And that means quickly transferring management of the REO process for zombie banks to another organization that is professional and earns more money for quicker and higher-priced sales. But so many palms are getting greased now that it’ll never happen. [/quote]
IMHO, this is why a **well-regulated** govt agency (even Fannie or Freddie) should handle ALL REOs and short-sales that belong to any bailed-out or “too big to fail” institution. If the taxpayers are the ones at risk, then the taxpayers should control the entire process, and we should not have to deal with shady deals or large commissions that suck more money out of taxpayer’s pockets.
These listings should be listed on a government auction website that enforces full transparency regarding previous sales and mortgage histories. Also, ALL bids, and identities of the bidders (which can include bidding/purchase history and current bids placed, etc.) should be shown. Bidders would be pre-qualified through the govt entities (Fannie/Freddie), and all sales would be binding and final. Bidders could have a deposit on file with the GSEs, to ensure they are held accountable.
After a specified period of time (30-60 days, or so), the highest bidder wins.
Easy, clean, and less open to fraud…which is exactly why they aren’t doing it already, IMHO.
jpinpb
April 28, 2009 @
7:23 AM
CAR – I totally agree. It’s CAR – I totally agree. It’s the best and most effective way. It’s a real shame that method is not being applied. It would alleviate and expedite the course of this whole mess.
aa
April 27, 2009 @
10:28 PM
jpinpb wrote:I’d like to know [quote=jpinpb]I’d like to know your theories.
SDL has some issues. Houserebate is showing MLS listings that are not showing up on SDL. I mean weeks go by and still not showing up for sale on SDL. I tried to just start marking them as for sale on SDL, even though they don’t have it listed. Then, weird, it started not letting me do even that. It shows as “No longer listed” when it just listed that day. It won’t let me post any comments on the property. In effect, blocking me from showing it’s listed.
So, SDL is less than perfect. [/quote]
Are you sure Houserebate listings are accurate? I found some listings on Houserebate I couldn’t find somewhere else. Also I found some listings on Ziprealty not showing up on SDL or Redfin.
jpinpb
April 28, 2009 @
7:36 AM
aa wrote:
Are you sure [quote=aa]
Are you sure Houserebate listings are accurate? I found some listings on Houserebate I couldn’t find somewhere else. Also I found some listings on Ziprealty not showing up on SDL or Redfin.
[/quote]
I asked SDR to check a couple of listings I saw as new in Houserebate, but not on SDL in his MLS and he said they show up as new in the MLS. He said there’s a lag time and that explains the delay getting listed on SDL. But some listings on Houserebate are now weeks old and still not on SDL or Redfin.
Now they are showing up on SDL, when I enter the address to mark them, as “This listing is no longer on the market.”
I asked him just now to check what the deal is. Maybe they’re all selling in one day, but still, it should show as “pending.” So I don’t know what to make of it.
NotCranky
April 28, 2009 @
9:14 AM
I am very pleased with my I am very pleased with my housing situation which is a little bit above average, probably low average for Piggs. I would never prioritize my life, nor I would make the sacrifices now to have anything better than this… so I guess I have my dream house.I do want a wood burning sweat lodge though.
If I were to move I wouldn’t aim higher,maybe just different. Point Loma looks nice and is more expensive, but I wouldn’t need a better house.Bay Park/Clairemont could be a trade I’d make when the kids finish school.I might buy that as a fixer/rental within a few years because I think my primary is a keeper.
Since I closed escrow in Dec. 2003 and am building another rental, I could answer that I have never stopped and am an investor.Especially since I have never bought or even considered, a property that didn’t have a speculative/sweat equity component to the deal and I never will.
jpinpb
April 28, 2009 @
9:18 AM
Ok. Now we have 2 Piggs Ok. Now we have 2 Piggs living high on the hog!
Out with it. Out with it. Who’s living for free in a McMansion. Last poll before reset was 1. Now we’ve got 2 piglets infested w/McMansion-free living. lol
UCGal
April 28, 2009 @
9:31 AM
I’m not living free in a I’m not living free in a McMansion… but if I pay off my mortgage, will that count? Oh wait, it’s not a McMansion.
Like Russell, I feel like my house is above average for San Diego, but below average for Piggs. It’s not new. (45 years old). No granite or stainless appliances. In fact the kitchen is original – very 60’s retro. But it’s in a great neighborhood with good schools and my location works incredibly well for my commute.
I bought in 2003 – so not peak, but still frothy. I’m refi’ing now and expect the value to have gone down a lot. But no worries because we put a lot down, and will have it paid off in 9 years. (I’m just trying to capture the one aspect of the bailouts I qualify for – lower interest rates, hence the refi.)
I’m interested in making it sustainable long term – improvements on energy efficiency, zero scaping, etc… since I plan to retire in this house. If it’s sold after I die, then I won’t care about the market price. That’s my kids’ problem.
nostradamus
April 28, 2009 @
10:24 AM
I bought pre-bubble in the I bought pre-bubble in the last trough and inshallah will do the same again when ready. Thanks for the poll!
peterb
April 28, 2009 @
10:26 AM
Wait a second. I coulda sworn Wait a second. I coulda sworn there was about 17 votes yesterday that said they were still waiting.
sdrealtor
April 28, 2009 @
10:49 AM
Peter
Arent you paying Peter
Arent you paying attention? they got bailed out and changed their votes;)
jpinpb
April 28, 2009 @
1:48 PM
peterb wrote:Wait a second. I [quote=peterb]Wait a second. I coulda sworn there was about 17 votes yesterday that said they were still waiting.[/quote]
I added another choice and it re-set all the votes back to zero. So those who already voted have to I guess, cancel their previous vote and re-vote. There were a total of 42 votes yesterday before the re-set.
Eugene
April 28, 2009 @
2:05 PM
The number of those “sick of The number of those “sick of waiting” is down to -2 now.
jpinpb
April 28, 2009 @
2:22 PM
Glad you’re keeping track Glad you’re keeping track here, Eugene. The number that bought their dream home is 8
Eugene
April 28, 2009 @
2:30 PM
jpinpb wrote:Glad you’re [quote=jpinpb]Glad you’re keeping track here, Eugene. The number that bought their dream home is 8[/quote]
So how many people total bought there homes? Is that 8 or 6?
CA renter
April 28, 2009 @
2:44 PM
I voted for “still waiting” I voted for “still waiting” yesterday, but got reset and can’t vote again. Didn’t want to remove my last vote because I’m not sure how that would affect the other votes (perhaps that’s why we have the negative number?).
Anyhow, count me as an additional “still waiting” who is not reflected in the poll.
jpinpb
April 28, 2009 @
2:45 PM
I think you can cancel your I think you can cancel your vote and re-vote, but I’m not sure. You can try. Don’t know if it’ll work. If not, we’ll make a note you’re waiting +1 more.
ibjames
April 28, 2009 @
2:47 PM
I vote we don’t let jpinpb I vote we don’t let jpinpb make any more polls!
jpinpb
April 28, 2009 @
2:57 PM
LOL. I second that. LOL. I second that.
Coronita
April 28, 2009 @
4:02 PM
jpinpb wrote:LOL. I second [quote=jpinpb]LOL. I second that. [/quote]
jpinpb,
As tempted as you might be by the generous stimulus/compensation that Obama is going to make to jumpstart this economy…..Please reconsider any opportunities you might have working for the upcoming U.S. Census…
I’m trying to convince people that we don’t need to spend billions on the U.S. Census….I don’t want those people to know that I know people (who I respect and admire) that would contradict my opinion on the census
(You know I’m just giving you crap 🙂 )
jpinpb
April 28, 2009 @
4:16 PM
flu – please don’t expose me. flu – please don’t expose me. I’m working undercover for the government to infiltrate real estate blogs and uncover the nepharious activities of savers trying to overthrow our economy. Shhhh!
jpinpb
April 28, 2009 @
6:39 PM
Still waiting for the others Still waiting for the others that voted yesterday. We had 42 votes yesterday. Come on, people.
Bumping back up, hoping to get the lost votes.
NotCranky
April 28, 2009 @
6:42 PM
jpinpb wrote:Still waiting [quote=jpinpb]Still waiting for the others that voted yesterday. We had 42 votes yesterday. Come on, people.
Bumping back up, hoping to get the lost votes.[/quote]
They are out buying houses.Yesterday the waiting group was near 75% wasn’t it?
jpinpb
April 28, 2009 @
6:48 PM
Ah. That’s what happened. Ah. That’s what happened. Well, then they’ll come back and say they bought. Re-cast your vote!
jpinpb
April 28, 2009 @
3:21 PM
Eugene wrote:
So how many [quote=Eugene]
So how many people total bought there homes? Is that 8 or 6? [/quote]
I would think two people initially voted sick of waiting then removed those votes from that category and either didn’t vote or voted another choice. It still means 8 voted for dream home.
nostradamus
April 28, 2009 @
2:42 PM
I know someone who walked on I know someone who walked on their Vegas home and didn’t hear anything from the bank for a year. Finally they got a letter saying give us like 1/10th of what you owe and we’ll call it even. This is hearsay.
Anonymous
April 27, 2009 @
1:15 PM
I am a piglet.
There is a I am a piglet.
There is a Huge Mormon Temple being built in Temecula Creek on south 79. How will this effect housing values. Will it help or hinder. I have not bought yet and still learning all the pros and cons of Temecula. Again I am a piglet…What little I research I found the lot was purchased three years ago and the Mormons pay cash. I am diversified and not worldly on investments and what to look for in surrounding area rather it be a church, temple, or strip mall. I would rather see a Temple than more homes or a CVS, but I have not taken investing 101.
carlsbadworker
April 27, 2009 @
1:26 PM
Anyone who has bought the Anyone who has bought the house and left this website please raise your hand!
jpinpb
April 27, 2009 @
1:32 PM
LOL. Clearly this poll is LOL. Clearly this poll is for the sadist buyer who still frequents Piggs.
Huckleberry
April 27, 2009 @
2:25 PM
How many people on the board How many people on the board actually know someone who is living free in their home, waiting for a work-out?
nostradamus
April 27, 2009 @
9:21 PM
jpinpb wrote:LOL. Clearly [quote=jpinpb]LOL. Clearly this poll is for the sadist buyer who still frequents Piggs. [/quote]
LOL but buyers are masochists IMO. 🙂
HarryBosch
April 27, 2009 @
3:01 PM
For various reasons my target For various reasons my target to buy is Spring 2010. Still saving money and paying down debt. And, yes, I do pay rent. Sold my house in very early 2008.
Eugene
April 27, 2009 @
8:43 PM
Your options, “I finally Your options, “I finally bought my dream home” and “I’m sick of waiting so I settled for something”, are fundamentally wrong. You’re assuming that everyone could afford their dream home, if only they wait long enough. While the truth is, most people’s dream homes will be out of reach at the bottom just as they are out of reach now.
jpinpb
April 27, 2009 @
8:44 PM
Thank you, Eugene. 3 people Thank you, Eugene. 3 people bought their dream house before this poll was reset. Better let them know.
Eugene
April 27, 2009 @
8:58 PM
jpinpb wrote:Thank you, [quote=jpinpb]Thank you, Eugene. 3 people bought their dream house before this poll was reset. Better let them know. [/quote]
well, the poll was poorly worded. If someone bought less than their dream home (i.e. not a waterfront estate) but didn’t expect to afford the waterfront estate anyway, that someone would have to choose between not voting and two options, neither of which represented their position. Some of them chose the dream house option.
jpinpb
April 27, 2009 @
9:02 PM
Certainly if a choice wasn’t Certainly if a choice wasn’t there, they didn’t have to vote. They didn’t have to select dream home if it wasn’t their dream home. They could have just not voted.
Thank you for your criticsm, though. I’ll try to put better choices next time, if I ever do another poll. Maybe I’ll consult w/you first.
ibjames
April 28, 2009 @
8:39 AM
Eugene wrote:jpinpb [quote=Eugene][quote=jpinpb]Thank you, Eugene. 3 people bought their dream house before this poll was reset. Better let them know. [/quote]
well, the poll was poorly worded. If someone bought less than their dream home (i.e. not a waterfront estate) but didn’t expect to afford the waterfront estate anyway, that someone would have to choose between not voting and two options, neither of which represented their position. Some of them chose the dream house option.[/quote]
HAHAHA Piggington is the only forum I have ever seen people go crazy if you create a poll and it doesn’t cover every option under the sun..
GET A LIFE ALREADY
an
April 27, 2009 @
10:37 PM
jpinpb wrote:Thank you, [quote=jpinpb]Thank you, Eugene. 3 people bought their dream house before this poll was reset. Better let them know. [/quote]
I was the one of the three who voted for that choice. It’s closest to what applied to me. It’s not my ULTIMATE dream home, but I don’t think I will EVER afford that home. However, what I bought, based on my age, current variables like income, family size, affordability, etc., is my ideal home. The reason why it’s called a dream home, is because it should be just that, a dream. My dream home is 20k sq-ft on 5 acres with 270 degree ocean view and w/in walking distant to the beach. The weather has to be w/in 20 degrees year around. That house probably will cost hundreds of millions.
jpinpb
April 27, 2009 @
9:36 PM
Well, I think my poll is Well, I think my poll is broken. I count 4 votes but the total says 3.
Yeah. I plan to buy again some day, so at a minimum we’re a glutton for punishment.
Nor-LA-SD-guy
April 28, 2009 @
6:46 AM
Yes I bought The home I live
Yes I bought The home I live in about a year ago (a little early), but to be honest there is more difference between what my neighbor paid in Landscaping than the REO that closed down the street last month.
Anonymous
April 28, 2009 @
7:57 AM
I bought in January after I bought in January after shopping for a year. It was no fun getting a super jumbo, but I bought for 40% less than the house’s original asking price.
We made 4 REO or short sale offers, and got fed up with that whole ridiculous process. We ended up buying a house that was owned by an investor who just wanted to unload. We made a ridiculous offer (which apparently no one had done on this house), and we were able to come to an agreement on a price quickly.
jpinpb
April 28, 2009 @
8:04 AM
hibiscus – you sound like hibiscus – you sound like another success story. 40% off sounds good. Best of all, sounds like after your previous attempts, you sort of fell into this one by luck.
Where’s raptorduck? Didn’t he buy his dream home? I remember all those tales. He should have written a book. He’s long gone now, I suppose.
We had 42 votes last time. Hopefully people will re-cast their vote.
Rt.66
April 28, 2009 @
8:30 AM
Grab your realtor and run Grab your realtor and run (don’t walk) to that new listing. Put in the biggest bid you can afford. The 2009 market bottom won’t last long. Your realtor can help you.
Go here and look at this chart. It clearly shows a 2009 bottom for loan resets.
Kind of like AN, it isn’t our Kind of like AN, it isn’t our Dream Home (his/her description is perfect!), but it’s perfect for our current situation. Bought below market in October. Not worried about any further depreciation in the market value as we plan to stay 8-10 years and for us it is affordable. Guess I need to change my login name, eh? Now looking to buy some rental property over the next couple of years. I’m still a pigg because still in the market to buy rentals…..but maybe a little bit of a masochist as well! 😉
poorsaver
April 28, 2009 @
11:13 AM
Huckleberry wrote: “How many Huckleberry wrote: “How many people on the board actually know someone who is living free in their home, waiting for a work-out?”
I know five people who haven’t paid a payment in over a year and haven’t even got a NOD from their lender! Bastards!
woodrow
April 28, 2009 @
3:39 PM
Live in OB; still waiting for Live in OB; still waiting for Point Loma and South OB to correct.
Ricechex
April 28, 2009 @
6:40 PM
OK, my situation does not fit OK, my situation does not fit in the poll, but I chose “bought before the peak.” Friend and I purchased a property in 2001, and it has always been a rental. I have lived in the same rental house since 1999. Will buy when I get the boot from this rental. Fingers crossed it won’t happen.
CafeMoto
April 28, 2009 @
7:54 PM
another vote cast; still another vote cast; still waiting, saving, and reading piggingtons.
Coronita
April 28, 2009 @
8:03 PM
Jpinpb,
So you can assume Jpinpb,
So you can assume there is 1 vote cast for “I’m sick of waiting so I settled for something” (not me)…. The count just went from -2 back to -1….LOL…
jpinpb
April 28, 2009 @
8:23 PM
Great. Thanks all. We are Great. Thanks all. We are still short 4 votes from yesterday, b/c there were 42 votes yesterday. And that’s if everyone that voted today are the same from yesterday, not new ones.
Coronita
April 28, 2009 @
9:20 PM
jpinpb wrote:Great. Thanks [quote=jpinpb]Great. Thanks all. We are still short 4 votes from yesterday, b/c there were 42 votes yesterday. And that’s if everyone that voted today are the same from yesterday, not new ones. [/quote]
Looks like the current piggie crowd has more net home owners(some borrowers) than renters. Interesting……I’m sure the sample space not large enough though.
jpinpb
April 29, 2009 @
7:51 AM
Bumping up in another attempt Bumping up in another attempt to get straggler votes.
sdnerd
April 29, 2009 @
8:21 AM
I voted for still waiting, I voted for still waiting, but also bought before the peak (didn’t vote for that one).
I’d imagine there are a fair number of people who are in the same situation.
jpinpb
April 29, 2009 @
8:38 AM
sdnerd – you bought before sdnerd – you bought before peak, but voted still waiting. Do you intend to buy again? Do you want to move up? Are you waiting to buy investment properties? Just curious.
UCGal
April 29, 2009 @
9:59 AM
jpinpb wrote:sdnerd – you [quote=jpinpb]sdnerd – you bought before peak, but voted still waiting. Do you intend to buy again? Do you want to move up? Are you waiting to buy investment properties? Just curious.[/quote]
Not sdnerd – but I’m guessing he/she is looking to move up. Owns a house bought pre-peak, but if prices come down, will upgrade to a nicer home.
But that’s a guess.
sdnerd
July 28, 2009 @
1:45 PM
jpinpb wrote:sdnerd – you [quote=jpinpb]sdnerd – you bought before peak, but voted still waiting. Do you intend to buy again? Do you want to move up? Are you waiting to buy investment properties? Just curious.[/quote]
Sorry for the late reply – didn’t see the post until the recent bump.
I bought a 1 bedroom condo end of ’03 right by my work office, moved in early ’04, back when I was single and less knowledgeable of the RE world.
Monthly nut has been and continues to be below equivalent rental prices, so it’ll be a rental.
So I’ve spent the last ~5-6 years building a pile of cash to purchase a home. Married now, with a wife whose biological clock is TICKING. 🙂
So yes, it’ll be moving up assuming some of this Shadow Inventory ever actually hits the market….. frustrating to say the least. Maybe this winter.
(former)FormerSanDiegan
April 30, 2009 @
8:02 AM
sdnerd wrote:I voted for [quote=sdnerd]I voted for still waiting, but also bought before the peak (didn’t vote for that one).
I’d imagine there are a fair number of people who are in the same situation.[/quote]
I am in a similar boat. Still own a pre-bubble rental house in San Diego and still waiting to dip my toes in again. Since I am only interested in central/coastal that time may never come, so I voted “bought before peak…” .
UCGal
April 29, 2009 @
9:58 AM
jpinpb wrote:Great. Thanks [quote=jpinpb]Great. Thanks all. We are still short 4 votes from yesterday, b/c there were 42 votes yesterday. And that’s if everyone that voted today are the same from yesterday, not new ones. [/quote]
My vote was a new one – I didn’t vote the first round because it didn’t have the “bought before peak” choice. so you need to get some more stragglers to re-vote.
Eugene
April 29, 2009 @
2:39 PM
flu wrote:
So you can assume [quote=flu]
So you can assume there is 1 vote cast for “I’m sick of waiting so I settled for something” (not me)…. The count just went from -2 back to -1….LOL…
[/quote]
back to -2 again ….
Navydoc
April 29, 2009 @
4:55 PM
I am typing this on a very I am typing this on a very crappy Sheraton lobby computer in Arlington VA after having just had our offer accepted on a fantastic home in Gaithersburg MD. 30yr fixed Jumo @ 5%. Not too shabby, and thank you Navy Fed. I’ll post pictures when I get back to a computer that can outperform a Commodore 64.
jpinpb
April 29, 2009 @
4:58 PM
Congrats, Navydoc! Congrats, Navydoc!
CA renter
April 30, 2009 @
1:23 AM
Navydoc wrote:I am typing [quote=Navydoc]I am typing this on a very crappy Sheraton lobby computer in Arlington VA after having just had our offer accepted on a fantastic home in Gaithersburg MD. 30yr fixed Jumo @ 5%. Not too shabby, and thank you Navy Fed. I’ll post pictures when I get back to a computer that can outperform a Commodore 64.[/quote]
Congratulations, Navydoc!
I forget why you wanted to buy instead of rent back there. Was it because this was going to be a more permanent job assignment for you?
Either way, hope you enjoy your new home. We look forward to seeing the pictures. 🙂
UCGal
April 30, 2009 @
11:21 AM
CA renter wrote:Navydoc [quote=CA renter][quote=Navydoc]I am typing this on a very crappy Sheraton lobby computer in Arlington VA after having just had our offer accepted on a fantastic home in Gaithersburg MD. 30yr fixed Jumo @ 5%. Not too shabby, and thank you Navy Fed. I’ll post pictures when I get back to a computer that can outperform a Commodore 64.[/quote]
Congratulations, Navydoc!
I forget why you wanted to buy instead of rent back there. Was it because this was going to be a more permanent job assignment for you?
Either way, hope you enjoy your new home. We look forward to seeing the pictures. 🙂
[/quote]
Perhaps having his rental go into forclosure was a factor.
But I agree – Congrats, Navydoc.
nostradamus
April 30, 2009 @
12:35 PM
Well jpinpb, I think the poll Well jpinpb, I think the poll gives good info. Most people are still waiting, followed by a good chunk who have bought. 3rd is those who bought pre-bubble (myself included). I could also be considered “waiting” as I might buy if things look right, but that would make me an investor since I’d then have a place to live and a place to rent out…
Anyhow, thanks!
JustLurking
April 29, 2009 @
2:09 PM
I’m another one who bought I’m another one who bought before the peak, but voted still waiting. I want to move to a different part of town – it could be a move up or a move sideways depending on what I end up buying.
It is tough because I know my house value is declining while I wait, but my neighborhood has already seen some decline while the area I am looking at is still seriously defying gravity. It has been a very frustrating wait. I am looking for my “dream” home – or at least something that I can turn into my dream home.
When urbanrealtor mentioned that his son is now 8 months old, I realized that I have been on Piggingtons way too long. I hope to buy something before Dan sends him off to college…
jpinpb
April 29, 2009 @
2:37 PM
JustLurking wrote:
When [quote=JustLurking]
When urbanrealtor mentioned that his son is now 8 months old, I realized that I have been on Piggingtons way too long. I hope to buy something before Dan sends him off to college…[/quote]
LOL. I can relate. Though I haven’t been on Piggington that long, I’ve been waiting quite a while.
beanmaestro
April 30, 2009 @
5:01 PM
My wife and I are sort of a My wife and I are sort of a special case. We’re renting a 2 bedroom house, but we’re looking to buy a 4 bedroom for kids that are still theoretical. We won’t be looking very hard until she’s preganant, which’ll hopefully be late this year, since we don’t need the space yet.
(former)FormerSanDiegan
April 30, 2009 @
5:27 PM
beanmaestro wrote:My wife and [quote=beanmaestro]My wife and I are sort of a special case. We’re renting a 2 bedroom house, but we’re looking to buy a 4 bedroom for kids that are still theoretical. We won’t be looking very hard until she’s preganant, which’ll hopefully be late this year, since we don’t need the space yet.[/quote]
Having been there, I recommend that you consider that hormonal changes during pregnancy tend to induce a maternal nesting instinct.
This instinct will act against your best interests when looking for a house.
newcomer
July 28, 2009 @
12:39 PM
bump bump
AK
July 28, 2009 @
3:36 PM
I think we need an entry for I think we need an entry for “actively looking but can’t compete with all-cash offers” 🙁
April 27, 2009 @ 12:46 PM
I had a great idea.
1) Buy a
I had a great idea.
1) Buy a place with 0 down.
2) Don’t pay anything ever.
3) Save like crazy.
I figure it will take over a year to get kicked out. By then with prices going down I might be able to buy a place all cash.
April 28, 2009 @ 11:01 AM
tc wrote:I had a great
[quote=tc]I had a great idea.
1) Buy a place with 0 down.
2) Don’t pay anything ever.
3) Save like crazy.
I figure it will take over a year to get kicked out. By then with prices going down I might be able to buy a place all cash.[/quote]
Yes, it is better than renting.
April 27, 2009 @ 12:49 PM
Closed earlier this
Closed earlier this month.
Not a “dream home” – but a home we love, and that is a size & price well within our means and socioeconomic status.
40% down. 30-year fixed. 4.49%
April 27, 2009 @ 12:55 PM
SDD – you are a success story
SDD – you are a success story 🙂
April 27, 2009 @ 3:36 PM
jpinpb wrote:SDD – you are a
[quote=jpinpb]SDD – you are a success story :)[/quote]
Thanks jp!
On a side issue:
The home we closed on several weeks ago still shows “Sale Pending” at SDL.
Who or what triggers the listings in MLS/Sandicor/etc. to show up as closed? Does the selling agent or escrow company have any say over this? We have some theories as to why it still shows pending, but I’d like to know the process first because I sound too conspiratorial.
April 27, 2009 @ 3:41 PM
I’d like to know your
I’d like to know your theories.
SDL has some issues. Houserebate is showing MLS listings that are not showing up on SDL. I mean weeks go by and still not showing up for sale on SDL. I tried to just start marking them as for sale on SDL, even though they don’t have it listed. Then, weird, it started not letting me do even that. It shows as “No longer listed” when it just listed that day. It won’t let me post any comments on the property. In effect, blocking me from showing it’s listed.
So, SDL is less than perfect.
April 27, 2009 @ 4:09 PM
I have a similar experience
I have a similar experience too. 2 times a home was on the market for a while, pending, dropped out, re listed, pending again…..and SDL never had any record of theses or the fact that the home was on the market. Weird and unreliable.
April 27, 2009 @ 4:13 PM
Well, I know they don’t
Well, I know they don’t indicate any sales on the courthouse steps, whereas Redfin, I think, does. I’m not going to complain too much, b/c it is the best we got and I’m glad to have that. But I rely on it for listings and now have had to sign up w/Houserebate to get the new listings funneled. It’s a little deceiving to not show all the listings and it’s disappointing.
Going OT on my own thread, lol.
April 27, 2009 @ 5:06 PM
if you bought a house, did
if you bought a house, did you have to bid war? Did you have a super aggressive realtor that would meet you within 5 minutes of the listing being listed? If not I don’t know how anyone is buying things these days
April 27, 2009 @ 5:16 PM
ibjames wrote:if you bought a
[quote=ibjames]if you bought a house, did you have to bid war? Did you have a super aggressive realtor that would meet you within 5 minutes of the listing being listed? If not I don’t know how anyone is buying things these days[/quote]
I bought a house (Jan), had a bidding war with 13 others. I was in front of the house the day it was listed after getting bank short sale approval. Offer was in 15 minutes later. Several offers came in after mine that same day. Agent was family friend. Seller’s agent and I went to the same college (we didn’t know during the sale – I met her after and she gave me details on the other offers once she knew we were both alumni).
Temecula
April 27, 2009 @ 9:22 PM
ibjames wrote:if you bought a
[quote=ibjames]if you bought a house, did you have to bid war? [/quote]
Actually no… In 2004, we walked out all all homes for which there was a “multiple offers”….The home we ended up buying we bought on superbowl weekend. …A home that fell out of escrow twice due to buyer’s unable to perform, with a seller that made it difficult for buyer’s to check the place out (no open house, weird showing hours).
Ended up paying about $60k below his asking, and about $20k below the two other buyers. We wrote an lower-priced offer that night, and the seller countered slightly up that night. We wanted to get a signed deal that evening and seller wanted to get it done too because they were sick of things falling out of escrow.
We had a really strong application, seller wanted us to cut down the contingency length, we countered with that being ok, but cut down the price by another $10k (since we were no hurry). Seller obliged, wanted to do a month’s worth of rent back. (which he later ended up deciding not to do it because his rent payments would have been close $3700, which he didn’t realize it would be that much since he was use to seeing all those buyers that did interest only instead of 30year fixed :))
It was a done deal the next morning….The funny part was the next day, we sort of went back to the home to inspect things for our sanity, and a few strangers knocked on the door and asked us if this home was still available and were willing to make a full price offer.(In hindsight, I guess we should have flipped it right after escrow).
In that circumstance, i guess it helped to have an RE agent that was a woman who didn’t care about the Superbowl and a seller’s agent who happened not to care about the two teams that were playing that year.
Our agent ended up rebating a good percentage of her commision back to us (because she sold another place of ours at the same time and made a hefty commision off of that) and both transactions were done quickly
April 27, 2009 @ 5:00 PM
jpinpb wrote:I’d like to know
[quote=jpinpb]I’d like to know your theories.
SDL has some issues. Houserebate is showing MLS listings that are not showing up on SDL. I mean weeks go by and still not showing up for sale on SDL. I tried to just start marking them as for sale on SDL, even though they don’t have it listed. Then, weird, it started not letting me do even that. It shows as “No longer listed” when it just listed that day. It won’t let me post any comments on the property. In effect, blocking me from showing it’s listed.
So, SDL is less than perfect. [/quote]
We’ve seen the same thing, too. A listing will show up on Realtor.com or Redfin, but not on SDL. Weird.
BTW, saw another funny thing the other day. About 5 or 6 days ago, a whole bunch of listings in Solana Beach were removed and then relisted, but all the pictures were gone!
It looks like the same brokerage because they have the “Top Ten Reasons to Buy Me” thing in the comments (also see this on their flyers) if you drive by. Like they are trying to force people to go directly through them to get **any** information at all, even pictures!
April 27, 2009 @ 5:19 PM
CA renter wrote:It looks like
[quote=CA renter]It looks like the same brokerage because they have the “Top Ten Reasons to Buy Me” thing in the comments (also see this on their flyers) if you drive by. Like they are trying to force people to go directly through them to get **any** information at all, even pictures![/quote]
Well, that’s a strategy. Just make it hard for someone to get info. Makes me just say f it. But I guess for those that want a challenge, it might work.
April 27, 2009 @ 7:07 PM
Sigh, in an ideal world, the
Sigh, in an ideal world, the people selling the homes would have a strong interest in getting the highest price. With that strong interest, they would advertise the home properly, and ensure that the highest (performing) bidder got the home.
But instead we have banks that don’t care any more, because their net worth is already negative. Making it worse just increases the cost of the bailout for taxpayers. For people at the bank making decisions about how the homes are sold, that’s irrelevant. If they lose their jobs because the bank was extremely insolvent, it’s the same as losing their jobs because the bank is very insolvent. There is lots of apathy. And giving a buddy a good deal becomes one of the few ways to take action that feels positive.
This is a good example of yet another economic cesspool that needs draining. How? We need someone to gain from selling the houses for the most money for taxpayers. And that means quickly transferring management of the REO process for zombie banks to another organization that is professional and earns more money for quicker and higher-priced sales. But so many palms are getting greased now that it’ll never happen.
April 27, 2009 @ 7:09 PM
Someone is living in their
Someone is living in their McMansion for free. All right. Out with it? Which Pigg is up living high on the hog?! LOL.
flu – is that you?
April 27, 2009 @ 7:57 PM
jpinpb wrote:Someone is
[quote=jpinpb]Someone is living in their McMansion for free. All right. Out with it? Which Pigg is up living high on the hog?! LOL.
flu – is that you?[/quote]
Nope. No choices really fit too well. Since I upgraded in 2004. No I don’t regret that decision. What i do regret is not spending more on a home then….Stock market + crappy interest rate = would have been better off just spending more for me.
I keep saying, one of these days interest rates will be more than my fixed mortgage and inflation is eventually going to creep up. Hasn’t happened yet….I’m about to give up and just pay the damn thing off.
It’s getting close to 5 years since I bought. Still waiting deals 50% below my purchase price 🙁
Sincerely, frustrated saver.
April 27, 2009 @ 8:35 PM
Ugh. I tried to update it to
Ugh. I tried to update it to add another choice and it sent everything back to zero. Didn’t know that was going to happen. Crap.
Ok. Well, there were something like 42 votes casted and about 75% were waiting, and 1 that was living free in a McMansion, about 3 that bought their dream home, three sick of waiting that settled and 2 that are investors that keep buying, if I remember right.
Anyone w/incentive, recast your vote.
April 27, 2009 @ 8:54 PM
jpinpb wrote:Ugh. I tried to
[quote=jpinpb]Ugh. I tried to update it to add another choice and it sent everything back to zero. Didn’t know that was going to happen. Crap.
Ok. Well, there were something like 42 votes casted and about 75% were waiting, and 1 that was living free in a McMansion, about 3 that bought their dream home, three sick of waiting that settled and 2 that are investors that keep buying, if I remember right.
Anyone w/incentive, recast your vote.
[/quote]
Are you going to give us a stimulus check if we revote? (It didn’t hurt to ask).
Sorry…I think my response is probably one of the reasons why you edited your original poll. You can blame me for creating havoc. I’m usually pretty good at it….Take comfort…..Data centers around the world are thankful I’m not coding right now.
You sort of still don’t have a choice for me since technically I bought before the peak peak, but it was still kind of the peak (2004 is considered peak in some areas)….Anyway, don’t break your poll again…I’ll just cast it there.
April 27, 2009 @ 8:55 PM
I’m not blaming you, flu. I
I’m not blaming you, flu. I should’ve thought of that choice in the first place! Duh.
April 27, 2009 @ 8:56 PM
jpinpb wrote:I’m not blaming
[quote=jpinpb]I’m not blaming you, flu. I should’ve thought of that choice in the first place! Duh.
[/quote]
You should be…In fact I just screwed up your poll again by cancelling my previous vote… It’s showing a -1 now….
Sorry…
I’m trying to think of something witty to say about a -1 vote….Give me a second…
April 28, 2009 @ 12:21 AM
patientrenter wrote:Sigh, in
[quote=patientrenter]Sigh, in an ideal world, the people selling the homes would have a strong interest in getting the highest price. With that strong interest, they would advertise the home properly, and ensure that the highest (performing) bidder got the home.
But instead we have banks that don’t care any more, because their net worth is already negative. Making it worse just increases the cost of the bailout for taxpayers. For people at the bank making decisions about how the homes are sold, that’s irrelevant. If they lose their jobs because the bank was extremely insolvent, it’s the same as losing their jobs because the bank is very insolvent. There is lots of apathy. And giving a buddy a good deal becomes one of the few ways to take action that feels positive.
This is a good example of yet another economic cesspool that needs draining. How? We need someone to gain from selling the houses for the most money for taxpayers. And that means quickly transferring management of the REO process for zombie banks to another organization that is professional and earns more money for quicker and higher-priced sales. But so many palms are getting greased now that it’ll never happen. [/quote]
IMHO, this is why a **well-regulated** govt agency (even Fannie or Freddie) should handle ALL REOs and short-sales that belong to any bailed-out or “too big to fail” institution. If the taxpayers are the ones at risk, then the taxpayers should control the entire process, and we should not have to deal with shady deals or large commissions that suck more money out of taxpayer’s pockets.
These listings should be listed on a government auction website that enforces full transparency regarding previous sales and mortgage histories. Also, ALL bids, and identities of the bidders (which can include bidding/purchase history and current bids placed, etc.) should be shown. Bidders would be pre-qualified through the govt entities (Fannie/Freddie), and all sales would be binding and final. Bidders could have a deposit on file with the GSEs, to ensure they are held accountable.
After a specified period of time (30-60 days, or so), the highest bidder wins.
Easy, clean, and less open to fraud…which is exactly why they aren’t doing it already, IMHO.
April 28, 2009 @ 7:23 AM
CAR – I totally agree. It’s
CAR – I totally agree. It’s the best and most effective way. It’s a real shame that method is not being applied. It would alleviate and expedite the course of this whole mess.
April 27, 2009 @ 10:28 PM
jpinpb wrote:I’d like to know
[quote=jpinpb]I’d like to know your theories.
SDL has some issues. Houserebate is showing MLS listings that are not showing up on SDL. I mean weeks go by and still not showing up for sale on SDL. I tried to just start marking them as for sale on SDL, even though they don’t have it listed. Then, weird, it started not letting me do even that. It shows as “No longer listed” when it just listed that day. It won’t let me post any comments on the property. In effect, blocking me from showing it’s listed.
So, SDL is less than perfect. [/quote]
Are you sure Houserebate listings are accurate? I found some listings on Houserebate I couldn’t find somewhere else. Also I found some listings on Ziprealty not showing up on SDL or Redfin.
April 28, 2009 @ 7:36 AM
aa wrote:
Are you sure
[quote=aa]
Are you sure Houserebate listings are accurate? I found some listings on Houserebate I couldn’t find somewhere else. Also I found some listings on Ziprealty not showing up on SDL or Redfin.
[/quote]
I asked SDR to check a couple of listings I saw as new in Houserebate, but not on SDL in his MLS and he said they show up as new in the MLS. He said there’s a lag time and that explains the delay getting listed on SDL. But some listings on Houserebate are now weeks old and still not on SDL or Redfin.
Now they are showing up on SDL, when I enter the address to mark them, as “This listing is no longer on the market.”
I asked him just now to check what the deal is. Maybe they’re all selling in one day, but still, it should show as “pending.” So I don’t know what to make of it.
April 28, 2009 @ 9:14 AM
I am very pleased with my
I am very pleased with my housing situation which is a little bit above average, probably low average for Piggs. I would never prioritize my life, nor I would make the sacrifices now to have anything better than this… so I guess I have my dream house.I do want a wood burning sweat lodge though.
If I were to move I wouldn’t aim higher,maybe just different. Point Loma looks nice and is more expensive, but I wouldn’t need a better house.Bay Park/Clairemont could be a trade I’d make when the kids finish school.I might buy that as a fixer/rental within a few years because I think my primary is a keeper.
Since I closed escrow in Dec. 2003 and am building another rental, I could answer that I have never stopped and am an investor.Especially since I have never bought or even considered, a property that didn’t have a speculative/sweat equity component to the deal and I never will.
April 28, 2009 @ 9:18 AM
Ok. Now we have 2 Piggs
Ok. Now we have 2 Piggs living high on the hog!
Out with it. Out with it. Who’s living for free in a McMansion. Last poll before reset was 1. Now we’ve got 2 piglets infested w/McMansion-free living. lol
April 28, 2009 @ 9:31 AM
I’m not living free in a
I’m not living free in a McMansion… but if I pay off my mortgage, will that count? Oh wait, it’s not a McMansion.
Like Russell, I feel like my house is above average for San Diego, but below average for Piggs. It’s not new. (45 years old). No granite or stainless appliances. In fact the kitchen is original – very 60’s retro. But it’s in a great neighborhood with good schools and my location works incredibly well for my commute.
I bought in 2003 – so not peak, but still frothy. I’m refi’ing now and expect the value to have gone down a lot. But no worries because we put a lot down, and will have it paid off in 9 years. (I’m just trying to capture the one aspect of the bailouts I qualify for – lower interest rates, hence the refi.)
I’m interested in making it sustainable long term – improvements on energy efficiency, zero scaping, etc… since I plan to retire in this house. If it’s sold after I die, then I won’t care about the market price. That’s my kids’ problem.
April 28, 2009 @ 10:24 AM
I bought pre-bubble in the
I bought pre-bubble in the last trough and inshallah will do the same again when ready. Thanks for the poll!
April 28, 2009 @ 10:26 AM
Wait a second. I coulda sworn
Wait a second. I coulda sworn there was about 17 votes yesterday that said they were still waiting.
April 28, 2009 @ 10:49 AM
Peter
Arent you paying
Peter
Arent you paying attention? they got bailed out and changed their votes;)
April 28, 2009 @ 1:48 PM
peterb wrote:Wait a second. I
[quote=peterb]Wait a second. I coulda sworn there was about 17 votes yesterday that said they were still waiting.[/quote]
I added another choice and it re-set all the votes back to zero. So those who already voted have to I guess, cancel their previous vote and re-vote. There were a total of 42 votes yesterday before the re-set.
April 28, 2009 @ 2:05 PM
The number of those “sick of
The number of those “sick of waiting” is down to -2 now.
April 28, 2009 @ 2:22 PM
Glad you’re keeping track
Glad you’re keeping track here, Eugene. The number that bought their dream home is 8
April 28, 2009 @ 2:30 PM
jpinpb wrote:Glad you’re
[quote=jpinpb]Glad you’re keeping track here, Eugene. The number that bought their dream home is 8[/quote]
So how many people total bought there homes? Is that 8 or 6?
April 28, 2009 @ 2:44 PM
I voted for “still waiting”
I voted for “still waiting” yesterday, but got reset and can’t vote again. Didn’t want to remove my last vote because I’m not sure how that would affect the other votes (perhaps that’s why we have the negative number?).
Anyhow, count me as an additional “still waiting” who is not reflected in the poll.
April 28, 2009 @ 2:45 PM
I think you can cancel your
I think you can cancel your vote and re-vote, but I’m not sure. You can try. Don’t know if it’ll work. If not, we’ll make a note you’re waiting +1 more.
April 28, 2009 @ 2:47 PM
I vote we don’t let jpinpb
I vote we don’t let jpinpb make any more polls!
April 28, 2009 @ 2:57 PM
LOL. I second that.
LOL. I second that.
April 28, 2009 @ 4:02 PM
jpinpb wrote:LOL. I second
[quote=jpinpb]LOL. I second that. [/quote]
jpinpb,
As tempted as you might be by the generous stimulus/compensation that Obama is going to make to jumpstart this economy…..Please reconsider any opportunities you might have working for the upcoming U.S. Census…
I’m trying to convince people that we don’t need to spend billions on the U.S. Census….I don’t want those people to know that I know people (who I respect and admire) that would contradict my opinion on the census
(You know I’m just giving you crap 🙂 )
April 28, 2009 @ 4:16 PM
flu – please don’t expose me.
flu – please don’t expose me. I’m working undercover for the government to infiltrate real estate blogs and uncover the nepharious activities of savers trying to overthrow our economy. Shhhh!
April 28, 2009 @ 6:39 PM
Still waiting for the others
Still waiting for the others that voted yesterday. We had 42 votes yesterday. Come on, people.
Bumping back up, hoping to get the lost votes.
April 28, 2009 @ 6:42 PM
jpinpb wrote:Still waiting
[quote=jpinpb]Still waiting for the others that voted yesterday. We had 42 votes yesterday. Come on, people.
Bumping back up, hoping to get the lost votes.[/quote]
They are out buying houses.Yesterday the waiting group was near 75% wasn’t it?
April 28, 2009 @ 6:48 PM
Ah. That’s what happened.
Ah. That’s what happened. Well, then they’ll come back and say they bought. Re-cast your vote!
April 28, 2009 @ 3:21 PM
Eugene wrote:
So how many
[quote=Eugene]
So how many people total bought there homes? Is that 8 or 6? [/quote]
I would think two people initially voted sick of waiting then removed those votes from that category and either didn’t vote or voted another choice. It still means 8 voted for dream home.
April 28, 2009 @ 2:42 PM
I know someone who walked on
I know someone who walked on their Vegas home and didn’t hear anything from the bank for a year. Finally they got a letter saying give us like 1/10th of what you owe and we’ll call it even. This is hearsay.
April 27, 2009 @ 1:15 PM
I am a piglet.
There is a
I am a piglet.
There is a Huge Mormon Temple being built in Temecula Creek on south 79. How will this effect housing values. Will it help or hinder. I have not bought yet and still learning all the pros and cons of Temecula. Again I am a piglet…What little I research I found the lot was purchased three years ago and the Mormons pay cash. I am diversified and not worldly on investments and what to look for in surrounding area rather it be a church, temple, or strip mall. I would rather see a Temple than more homes or a CVS, but I have not taken investing 101.
April 27, 2009 @ 1:26 PM
Anyone who has bought the
Anyone who has bought the house and left this website please raise your hand!
April 27, 2009 @ 1:32 PM
LOL. Clearly this poll is
LOL. Clearly this poll is for the sadist buyer who still frequents Piggs.
April 27, 2009 @ 2:25 PM
How many people on the board
How many people on the board actually know someone who is living free in their home, waiting for a work-out?
April 27, 2009 @ 9:21 PM
jpinpb wrote:LOL. Clearly
[quote=jpinpb]LOL. Clearly this poll is for the sadist buyer who still frequents Piggs. [/quote]
LOL but buyers are masochists IMO. 🙂
April 27, 2009 @ 3:01 PM
For various reasons my target
For various reasons my target to buy is Spring 2010. Still saving money and paying down debt. And, yes, I do pay rent. Sold my house in very early 2008.
April 27, 2009 @ 8:43 PM
Your options, “I finally
Your options, “I finally bought my dream home” and “I’m sick of waiting so I settled for something”, are fundamentally wrong. You’re assuming that everyone could afford their dream home, if only they wait long enough. While the truth is, most people’s dream homes will be out of reach at the bottom just as they are out of reach now.
April 27, 2009 @ 8:44 PM
Thank you, Eugene. 3 people
Thank you, Eugene. 3 people bought their dream house before this poll was reset. Better let them know.
April 27, 2009 @ 8:58 PM
jpinpb wrote:Thank you,
[quote=jpinpb]Thank you, Eugene. 3 people bought their dream house before this poll was reset. Better let them know. [/quote]
well, the poll was poorly worded. If someone bought less than their dream home (i.e. not a waterfront estate) but didn’t expect to afford the waterfront estate anyway, that someone would have to choose between not voting and two options, neither of which represented their position. Some of them chose the dream house option.
April 27, 2009 @ 9:02 PM
Certainly if a choice wasn’t
Certainly if a choice wasn’t there, they didn’t have to vote. They didn’t have to select dream home if it wasn’t their dream home. They could have just not voted.
Thank you for your criticsm, though. I’ll try to put better choices next time, if I ever do another poll. Maybe I’ll consult w/you first.
April 28, 2009 @ 8:39 AM
Eugene wrote:jpinpb
[quote=Eugene][quote=jpinpb]Thank you, Eugene. 3 people bought their dream house before this poll was reset. Better let them know. [/quote]
well, the poll was poorly worded. If someone bought less than their dream home (i.e. not a waterfront estate) but didn’t expect to afford the waterfront estate anyway, that someone would have to choose between not voting and two options, neither of which represented their position. Some of them chose the dream house option.[/quote]
HAHAHA Piggington is the only forum I have ever seen people go crazy if you create a poll and it doesn’t cover every option under the sun..
GET A LIFE ALREADY
April 27, 2009 @ 10:37 PM
jpinpb wrote:Thank you,
[quote=jpinpb]Thank you, Eugene. 3 people bought their dream house before this poll was reset. Better let them know. [/quote]
I was the one of the three who voted for that choice. It’s closest to what applied to me. It’s not my ULTIMATE dream home, but I don’t think I will EVER afford that home. However, what I bought, based on my age, current variables like income, family size, affordability, etc., is my ideal home. The reason why it’s called a dream home, is because it should be just that, a dream. My dream home is 20k sq-ft on 5 acres with 270 degree ocean view and w/in walking distant to the beach. The weather has to be w/in 20 degrees year around. That house probably will cost hundreds of millions.
April 27, 2009 @ 9:36 PM
Well, I think my poll is
Well, I think my poll is broken. I count 4 votes but the total says 3.
Yeah. I plan to buy again some day, so at a minimum we’re a glutton for punishment.
April 28, 2009 @ 6:46 AM
Yes I bought The home I live
Yes I bought The home I live in about a year ago (a little early), but to be honest there is more difference between what my neighbor paid in Landscaping than the REO that closed down the street last month.
April 28, 2009 @ 7:57 AM
I bought in January after
I bought in January after shopping for a year. It was no fun getting a super jumbo, but I bought for 40% less than the house’s original asking price.
We made 4 REO or short sale offers, and got fed up with that whole ridiculous process. We ended up buying a house that was owned by an investor who just wanted to unload. We made a ridiculous offer (which apparently no one had done on this house), and we were able to come to an agreement on a price quickly.
April 28, 2009 @ 8:04 AM
hibiscus – you sound like
hibiscus – you sound like another success story. 40% off sounds good. Best of all, sounds like after your previous attempts, you sort of fell into this one by luck.
Where’s raptorduck? Didn’t he buy his dream home? I remember all those tales. He should have written a book. He’s long gone now, I suppose.
We had 42 votes last time. Hopefully people will re-cast their vote.
April 28, 2009 @ 8:30 AM
Grab your realtor and run
Grab your realtor and run (don’t walk) to that new listing. Put in the biggest bid you can afford. The 2009 market bottom won’t last long. Your realtor can help you.
Go here and look at this chart. It clearly shows a 2009 bottom for loan resets.
http://www.howestreet.com/articles/index.php?article_id=9286
(Or you could wait for the 2011 peak?)
April 28, 2009 @ 9:08 AM
Kind of like AN, it isn’t our
Kind of like AN, it isn’t our Dream Home (his/her description is perfect!), but it’s perfect for our current situation. Bought below market in October. Not worried about any further depreciation in the market value as we plan to stay 8-10 years and for us it is affordable. Guess I need to change my login name, eh? Now looking to buy some rental property over the next couple of years. I’m still a pigg because still in the market to buy rentals…..but maybe a little bit of a masochist as well! 😉
April 28, 2009 @ 11:13 AM
Huckleberry wrote: “How many
Huckleberry wrote: “How many people on the board actually know someone who is living free in their home, waiting for a work-out?”
I know five people who haven’t paid a payment in over a year and haven’t even got a NOD from their lender! Bastards!
April 28, 2009 @ 3:39 PM
Live in OB; still waiting for
Live in OB; still waiting for Point Loma and South OB to correct.
April 28, 2009 @ 6:40 PM
OK, my situation does not fit
OK, my situation does not fit in the poll, but I chose “bought before the peak.” Friend and I purchased a property in 2001, and it has always been a rental. I have lived in the same rental house since 1999. Will buy when I get the boot from this rental. Fingers crossed it won’t happen.
April 28, 2009 @ 7:54 PM
another vote cast; still
another vote cast; still waiting, saving, and reading piggingtons.
April 28, 2009 @ 8:03 PM
Jpinpb,
So you can assume
Jpinpb,
So you can assume there is 1 vote cast for “I’m sick of waiting so I settled for something” (not me)…. The count just went from -2 back to -1….LOL…
April 28, 2009 @ 8:23 PM
Great. Thanks all. We are
Great. Thanks all. We are still short 4 votes from yesterday, b/c there were 42 votes yesterday. And that’s if everyone that voted today are the same from yesterday, not new ones.
April 28, 2009 @ 9:20 PM
jpinpb wrote:Great. Thanks
[quote=jpinpb]Great. Thanks all. We are still short 4 votes from yesterday, b/c there were 42 votes yesterday. And that’s if everyone that voted today are the same from yesterday, not new ones. [/quote]
Looks like the current piggie crowd has more net home owners(some borrowers) than renters. Interesting……I’m sure the sample space not large enough though.
April 29, 2009 @ 7:51 AM
Bumping up in another attempt
Bumping up in another attempt to get straggler votes.
April 29, 2009 @ 8:21 AM
I voted for still waiting,
I voted for still waiting, but also bought before the peak (didn’t vote for that one).
I’d imagine there are a fair number of people who are in the same situation.
April 29, 2009 @ 8:38 AM
sdnerd – you bought before
sdnerd – you bought before peak, but voted still waiting. Do you intend to buy again? Do you want to move up? Are you waiting to buy investment properties? Just curious.
April 29, 2009 @ 9:59 AM
jpinpb wrote:sdnerd – you
[quote=jpinpb]sdnerd – you bought before peak, but voted still waiting. Do you intend to buy again? Do you want to move up? Are you waiting to buy investment properties? Just curious.[/quote]
Not sdnerd – but I’m guessing he/she is looking to move up. Owns a house bought pre-peak, but if prices come down, will upgrade to a nicer home.
But that’s a guess.
July 28, 2009 @ 1:45 PM
jpinpb wrote:sdnerd – you
[quote=jpinpb]sdnerd – you bought before peak, but voted still waiting. Do you intend to buy again? Do you want to move up? Are you waiting to buy investment properties? Just curious.[/quote]
Sorry for the late reply – didn’t see the post until the recent bump.
I bought a 1 bedroom condo end of ’03 right by my work office, moved in early ’04, back when I was single and less knowledgeable of the RE world.
Monthly nut has been and continues to be below equivalent rental prices, so it’ll be a rental.
So I’ve spent the last ~5-6 years building a pile of cash to purchase a home. Married now, with a wife whose biological clock is TICKING. 🙂
So yes, it’ll be moving up assuming some of this Shadow Inventory ever actually hits the market….. frustrating to say the least. Maybe this winter.
April 30, 2009 @ 8:02 AM
sdnerd wrote:I voted for
[quote=sdnerd]I voted for still waiting, but also bought before the peak (didn’t vote for that one).
I’d imagine there are a fair number of people who are in the same situation.[/quote]
I am in a similar boat. Still own a pre-bubble rental house in San Diego and still waiting to dip my toes in again. Since I am only interested in central/coastal that time may never come, so I voted “bought before peak…” .
April 29, 2009 @ 9:58 AM
jpinpb wrote:Great. Thanks
[quote=jpinpb]Great. Thanks all. We are still short 4 votes from yesterday, b/c there were 42 votes yesterday. And that’s if everyone that voted today are the same from yesterday, not new ones. [/quote]
My vote was a new one – I didn’t vote the first round because it didn’t have the “bought before peak” choice. so you need to get some more stragglers to re-vote.
April 29, 2009 @ 2:39 PM
flu wrote:
So you can assume
[quote=flu]
So you can assume there is 1 vote cast for “I’m sick of waiting so I settled for something” (not me)…. The count just went from -2 back to -1….LOL…
[/quote]
back to -2 again ….
April 29, 2009 @ 4:55 PM
I am typing this on a very
I am typing this on a very crappy Sheraton lobby computer in Arlington VA after having just had our offer accepted on a fantastic home in Gaithersburg MD. 30yr fixed Jumo @ 5%. Not too shabby, and thank you Navy Fed. I’ll post pictures when I get back to a computer that can outperform a Commodore 64.
April 29, 2009 @ 4:58 PM
Congrats, Navydoc!
Congrats, Navydoc!
April 30, 2009 @ 1:23 AM
Navydoc wrote:I am typing
[quote=Navydoc]I am typing this on a very crappy Sheraton lobby computer in Arlington VA after having just had our offer accepted on a fantastic home in Gaithersburg MD. 30yr fixed Jumo @ 5%. Not too shabby, and thank you Navy Fed. I’ll post pictures when I get back to a computer that can outperform a Commodore 64.[/quote]
Congratulations, Navydoc!
I forget why you wanted to buy instead of rent back there. Was it because this was going to be a more permanent job assignment for you?
Either way, hope you enjoy your new home. We look forward to seeing the pictures. 🙂
April 30, 2009 @ 11:21 AM
CA renter wrote:Navydoc
[quote=CA renter][quote=Navydoc]I am typing this on a very crappy Sheraton lobby computer in Arlington VA after having just had our offer accepted on a fantastic home in Gaithersburg MD. 30yr fixed Jumo @ 5%. Not too shabby, and thank you Navy Fed. I’ll post pictures when I get back to a computer that can outperform a Commodore 64.[/quote]
Congratulations, Navydoc!
I forget why you wanted to buy instead of rent back there. Was it because this was going to be a more permanent job assignment for you?
Either way, hope you enjoy your new home. We look forward to seeing the pictures. 🙂
[/quote]
Perhaps having his rental go into forclosure was a factor.
But I agree – Congrats, Navydoc.
April 30, 2009 @ 12:35 PM
Well jpinpb, I think the poll
Well jpinpb, I think the poll gives good info. Most people are still waiting, followed by a good chunk who have bought. 3rd is those who bought pre-bubble (myself included). I could also be considered “waiting” as I might buy if things look right, but that would make me an investor since I’d then have a place to live and a place to rent out…
Anyhow, thanks!
April 29, 2009 @ 2:09 PM
I’m another one who bought
I’m another one who bought before the peak, but voted still waiting. I want to move to a different part of town – it could be a move up or a move sideways depending on what I end up buying.
It is tough because I know my house value is declining while I wait, but my neighborhood has already seen some decline while the area I am looking at is still seriously defying gravity. It has been a very frustrating wait. I am looking for my “dream” home – or at least something that I can turn into my dream home.
When urbanrealtor mentioned that his son is now 8 months old, I realized that I have been on Piggingtons way too long. I hope to buy something before Dan sends him off to college…
April 29, 2009 @ 2:37 PM
JustLurking wrote:
When
[quote=JustLurking]
When urbanrealtor mentioned that his son is now 8 months old, I realized that I have been on Piggingtons way too long. I hope to buy something before Dan sends him off to college…[/quote]
LOL. I can relate. Though I haven’t been on Piggington that long, I’ve been waiting quite a while.
April 30, 2009 @ 5:01 PM
My wife and I are sort of a
My wife and I are sort of a special case. We’re renting a 2 bedroom house, but we’re looking to buy a 4 bedroom for kids that are still theoretical. We won’t be looking very hard until she’s preganant, which’ll hopefully be late this year, since we don’t need the space yet.
April 30, 2009 @ 5:27 PM
beanmaestro wrote:My wife and
[quote=beanmaestro]My wife and I are sort of a special case. We’re renting a 2 bedroom house, but we’re looking to buy a 4 bedroom for kids that are still theoretical. We won’t be looking very hard until she’s preganant, which’ll hopefully be late this year, since we don’t need the space yet.[/quote]
Having been there, I recommend that you consider that hormonal changes during pregnancy tend to induce a maternal nesting instinct.
This instinct will act against your best interests when looking for a house.
July 28, 2009 @ 12:39 PM
bump
bump
July 28, 2009 @ 3:36 PM
I think we need an entry for
I think we need an entry for “actively looking but can’t compete with all-cash offers” 🙁