California Real estate?

Matt414
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Matt414
Edited Date/Time 2/14/2012 11:11pm
So I am getting tired of renting out here in san diego. I've started looking at places online and have talked with a few realtors I know out here. I really don't get it. How does anyone afford to buy a place out here? You can't buy anything for under $250 a sqft, and thats hard to come buy. I really don't see how family's can afford to buy anything out here. Does everyone just have really screwed up mortgages? And up to their eye's in debt? The numbers just don't work for me.
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el moto diablo 5/8/2008 9:28am
5/8/2008 9:28am
Doesn't help that your in San Diego. Especially Solana Beach even that sh**hole IB is expensive.
motogeezer
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motogeezer 5/8/2008 9:42am
5/8/2008 9:42am
I'm glad I bought 12 years ago.

I couldn't afford my house if I wanted to buy it today.

Look into bank repos.

I know of one in Horse Thief Canyon (Corona/ Elsinore area) that's going for less than 1/2 market price right now.
fcr
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fcr 5/8/2008 4:04pm
5/8/2008 4:04pm
Matt414 wrote:
So I am getting tired of renting out here in san diego. I've started looking at places online and have talked with a few realtors I...
So I am getting tired of renting out here in san diego. I've started looking at places online and have talked with a few realtors I know out here. I really don't get it. How does anyone afford to buy a place out here? You can't buy anything for under $250 a sqft, and thats hard to come buy. I really don't see how family's can afford to buy anything out here. Does everyone just have really screwed up mortgages? And up to their eye's in debt? The numbers just don't work for me.
Any place in North County is going to be pricey. Getting away from the coast helps but not much. You have to go in to areas that are less desireable such as the IE. It has always been this way. You need a big down payment to make things work.
Scotty
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Scotty 5/8/2008 4:23pm
5/8/2008 4:23pm
Matt, quite honestly you need to pull in 100k a year to be able to afford a house and live ok in san diego. I dont think prices are going to drop much lower either IMO. I would maybe ride it out for another 6-12 months and see where the markets at. Also your gonna need at least 20% down to get a good rate

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Tiki
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Tiki 5/8/2008 4:29pm
5/8/2008 4:29pm
Scotty wrote:
Matt, quite honestly you need to pull in 100k a year to be able to afford a house and live ok in san diego. I dont...
Matt, quite honestly you need to pull in 100k a year to be able to afford a house and live ok in san diego. I dont think prices are going to drop much lower either IMO. I would maybe ride it out for another 6-12 months and see where the markets at. Also your gonna need at least 20% down to get a good rate
and it will still be $3500 a month.

Oklahoma. Great place to buy an inexpensive beautiful home.
motogeezer
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motogeezer 5/8/2008 4:40pm
5/8/2008 4:40pm
The house I mentioned (according to my friend who lives next door to it) was purchased by the defaulters a few years ago for over $600K, market price in that area is now around $470K, and the bank wants $245K for it.

Damned good deal, if you don't mind living in the 909.

Some of the people who live in Horse Thief take their dirt bikes out of their garages, and run them up the back side of Saddleback Mountain.

My friend ( he doesn't ride) says they do it all the time, and he's never heard of anyone getting busted.



super rat
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super rat 5/8/2008 6:34pm
5/8/2008 6:34pm
It would be a stretch to build a home for 250 a foot, not counting land, in my town.
newmann
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newmann 5/8/2008 6:41pm
5/8/2008 6:41pm
Love the house flippin shows from Ca. where they can't sell the $600,000.00 home when they are done with it and they decide to rent it out for $1800.00 a month until the market gets better. LOL, must be some of that "new" math because it sure doesn't sound right to me. Must be those sweet 60 year neg. am. loans.
dougie
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dougie 5/8/2008 6:50pm
5/8/2008 6:50pm Edited Date/Time 4/16/2016 6:54pm
Matt414 wrote:
So I am getting tired of renting out here in san diego. I've started looking at places online and have talked with a few realtors I...
So I am getting tired of renting out here in san diego. I've started looking at places online and have talked with a few realtors I know out here. I really don't get it. How does anyone afford to buy a place out here? You can't buy anything for under $250 a sqft, and thats hard to come buy. I really don't see how family's can afford to buy anything out here. Does everyone just have really screwed up mortgages? And up to their eye's in debt? The numbers just don't work for me.
Makes ya wonder how the illegals get by. Oh yeah they live 25 to a 2 bedroom apt.

And people say that they will do the work Americans wont do. Maybe thats because most Americans (californians) cant live on minimum wage, or even the average American wage of $17 something an hour. I heard you need at least $15/ to be able to rent an apartment. And were talking in the shitty part of town.

Your best bet would be to find a roomate.Or better yet just rent a room in someones home. I hear there are alot of ads in the paper these days as many homeowners are really stretched tight.

Today on my way home from a workout I drove thru the part of Temecula with all the multi million dollar horse ranches and other upper end homes. I must have seen 5 autos for sale in fancy driveways. All were SUVs and Suburbans etc. Makes one think that even the wealthy or Psuedo wealthy are hurting too.

High home prices , high gas prices, high food prices. The shit is hitting the fan, DUCK!!
super rat
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super rat 5/8/2008 6:57pm
5/8/2008 6:57pm
Even if they were giving homes away in NJ I wouldn't live there.
APLMAN
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APLMAN 5/8/2008 7:05pm
5/8/2008 7:05pm
motogeezer wrote:
The house I mentioned (according to my friend who lives next door to it) was purchased by the defaulters a few years ago for over $600K...
The house I mentioned (according to my friend who lives next door to it) was purchased by the defaulters a few years ago for over $600K, market price in that area is now around $470K, and the bank wants $245K for it.

Damned good deal, if you don't mind living in the 909.

Some of the people who live in Horse Thief take their dirt bikes out of their garages, and run them up the back side of Saddleback Mountain.

My friend ( he doesn't ride) says they do it all the time, and he's never heard of anyone getting busted.



If those numbers are accurate, then it would have been snatched up in about half a minute. It sounds like the market must be much less than that.........
GHOPPER
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GHOPPER 5/8/2008 7:31pm
5/8/2008 7:31pm
Hey Matt, look at Ramona or Temecula area. Its much cheaper than San Diego. Or there's always TJ.Smile
UpTiTe 5/8/2008 8:11pm
5/8/2008 8:11pm
I hear Compton is nice.
dougie
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dougie 5/8/2008 8:56pm
5/8/2008 8:56pm
the problem with the IE is that matt works in Solana beach and I dont think that part is negotiable. Thats where the spinal clinic is. So moving inland might save a few bucks but the added mileage would kill him just like its killing the rest of those that moved to the desert but work near the coast. And the long commutes are a great way to spend a large portion of your life on this rock. I'll be interested in the solution to this problem.
pelted
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pelted 5/8/2008 9:31pm
5/8/2008 9:31pm
This could get 10 pages...
zjbell
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zjbell 5/8/2008 9:32pm
5/8/2008 9:32pm
There's a reason it's cheap.

Matt414
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Matt414 5/8/2008 9:38pm
5/8/2008 9:38pm
dougie wrote:
the problem with the IE is that matt works in Solana beach and I dont think that part is negotiable. Thats where the spinal clinic is...
the problem with the IE is that matt works in Solana beach and I dont think that part is negotiable. Thats where the spinal clinic is. So moving inland might save a few bucks but the added mileage would kill him just like its killing the rest of those that moved to the desert but work near the coast. And the long commutes are a great way to spend a large portion of your life on this rock. I'll be interested in the solution to this problem.
Yup, your right on that one. As of now, I'll go a week without driving sometimes. I am thinking La Costa area, maybe even carlsbad. Not much more then 15 miles one way. I'll just ride my bike to work. I've been looking into the fore closures lately. Some good deals to be had. But, i still just don't get how people do it here. I guess everyone is just up to their eyes in debt. Thats the only thing I can figure. I'll probably just end up renting for now. Just hate pissing money away on rent.
Scotty
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Scotty 5/8/2008 9:44pm
5/8/2008 9:44pm
What a about a Condo?? That would be a good start. Alot of us got lucky and bought our houses before the boom.. Bought mine 7 years ago for $214,000 and I was shitting a brick! Couldn't believe how much we were paying for a house. Now I look back and laugh.

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fcr
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fcr 5/8/2008 10:38pm
5/8/2008 10:38pm
Have you thought about a duplex. Good way to start. Also Oceanside certain areas are getting better again.
GHOPPER
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GHOPPER 5/9/2008 6:18am
5/9/2008 6:18am
Hey Matt, Look at Shadowridge area in Vista. Its right next to Carlsbad but a lot less money and a nice area. I know there are several bank ownd homes that need alot of work. I looked at a few that the loosers that got forclosed on had to vandalize the house befor they left. (before all you net bullies start slammin me, I'm not saying just because you get forclosed on or evicted your a looser. Only if you decide to vanalize the house before you leave)
Nikki808
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Nikki808 5/9/2008 8:19am
5/9/2008 8:19am Edited Date/Time 4/16/2016 6:54pm
Matt414: It's definitely all about location. The 808 is similar to CA in many ways when it comes to the damn real estate market. You can't buy anything for a reasonable price! You'd be buying a POS and STILL paying high prices just because of location.


It didn't seem like a bad idea to myself in the past few years to consider purchasing somewhat out of town.. but with the way the economy is spiraling... I continued to rent.. and in a way glad. But I do hear ya on pissing away $$ on rent when it could be going towards your own mortgage.

I'm looking at waiting for a year or so before I commit to buying.. everything is so squirrely right now.

Good luck on your search!
dougie
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dougie 5/9/2008 9:37am
5/9/2008 9:37am
GHOPPER wrote:
Hey Matt, Look at Shadowridge area in Vista. Its right next to Carlsbad but a lot less money and a nice area. I know there are...
Hey Matt, Look at Shadowridge area in Vista. Its right next to Carlsbad but a lot less money and a nice area. I know there are several bank ownd homes that need alot of work. I looked at a few that the loosers that got forclosed on had to vandalize the house befor they left. (before all you net bullies start slammin me, I'm not saying just because you get forclosed on or evicted your a looser. Only if you decide to vanalize the house before you leave)
Ive heard that there is a lot of vandalizing of homes when people have to leave right here in Temecula. What doesnt make sense, besides trashing a place because you couldnt afford it is ....wont they (the bank) know who trashed the place and come after your ass? Stoopid some people are.
fcr
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fcr 5/9/2008 10:10am
5/9/2008 10:10am
There are companies now that offer people cash to go into home that are going into foreclosure and they tear everthing out like a demo. Don't know about the legality of it but it is wrong. And the Loosers that do vandalize their own home are just that. Typical me first attitude.

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