Housing Prices Mystify TheMystic
- Thread starter Danny
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It was going to be 395k minus about $30k repairs - but buyer offered $365 in as is condition so since we were in a rush we took the money and ran....the new owner's monthly payment plus insurance and property taxes must be around $3k a month....if we had been patient and waited til summer and had undertaken the repairs we would have done better but we didn't expect it go much higher :macdaddy said:
I can't believe the people that bought in August for $475k will see the value increase, but I have been wrong before haven't I?
The ethnic food is a result not a cause of population growth in CA. CA has had a net out migration to other states in the US for years for the reasons brought up in above posts. But there has been a large in migration from foreign countries. Maybe if you are coming from Hong Kong or Mombai or Seoul, CA doesn't seem so crowded?
cube_rat
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Texas Proud
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Location, Location, Location.....
Re: Housing Prices Mystify The Mystic
an interesting meal..a bit above dog food, so we could keep our pride....I recommend it to anyone really really motivated to ER...
I grew-up in Illinois...when money was tight good all Mom would whip up some tuna hot dish with potato chips stuck in the crust..she was a saint, which is appropriate since her family had a bona fide saint in the famalia....when times were a bit tougher we got to eat SOSyoubet said:
an interesting meal..a bit above dog food, so we could keep our pride....I recommend it to anyone really really motivated to ER... riskadverse
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California is bad bad bad. I recommend everyone stay away.
donheff
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Re: Housing Prices Mystify The Mystic
South side of Chicago. We were never broke, but tuna casserole and chipped beef on toast (the proper, high-brow names 8)) made regular appearances. I liked them then, but haven't tried them in a long, long time.
IntoTheMystic said:I grew-up in Illinois...when money was tight good all Mom would whip up some tuna hot dish with potato chips stuck in the crust..she was a saint, which is appropriate since her family had a bona fide saint in the famalia....when times were a bit tougher we got to eat SOS
South side of Chicago. We were never broke, but tuna casserole and chipped beef on toast (the proper, high-brow names 8)) made regular appearances. I liked them then, but haven't tried them in a long, long time.
yakers
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House prices in California can get crazy. In anticipation of retiring in the next year or two with a kid currently in high school I went to my credit union to set up a home loan line of credit. They did some kind of quick appraisal and said my Pasadena 1000 sq ft 2 BD 1 BA was worth $525K. For a moment I paused and really wanted to say, hey, forget the loan, just write a check out for that amount and its yours.
I expect prices will fall or just stay the same for a while. California property prices certainly have gone up and down a lot in the 25 years I have been here. As we will probably live here for at least several years more I just don't worry about it.
I expect prices will fall or just stay the same for a while. California property prices certainly have gone up and down a lot in the 25 years I have been here. As we will probably live here for at least several years more I just don't worry about it.
cube_rat
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The San Francisco area is long overdue for a major ass kicking market correction. When I saw my brother's new fix-upper (note: fixer upper is an understatement. The old house needs to torn down and replaced ) that he paid 1.8 million for, I just about fainted.
I have noticed that quite a few houses in my area for sale that are just not moving. It's been six months on the market for four very nice homes that I could think of right now.
) that he paid 1.8 million for, I just about fainted. I have noticed that quite a few houses in my area for sale that are just not moving. It's been six months on the market for four very nice homes that I could think of right now.
yakers
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Sam said:
We are not sure we want to leave southern California, we certainly are not ready to now, son entering last year of high school. We have to live somewhere and it would cost more to buy. If we were planning to move in the next year or so we could maybe handle the disruption of selling and renting for a while before moving. But we may be here a while and we like our house, its paid for and taxes would go through the roof if we bought something newer/bigger/more expensive in California. And we expect to stay somewhere in the state with older boy with our grandchildren and younger one still some time to go in school.
It will be painful to ponder that we could be sitting on something like a cool $100K from a cashout and the main "cost" would be the inconvenience of moving and renting. But I have gone through the real estate cycles and things do work out over time. I'm in a good position, I paid $96K for my house in 1986 and refinanced it for $200k in 1990, price dropped for several years after that and only shot up the last few years. But even now if I sell I will have a pretty good return and whatever I want to buy should also cost less. And I still need to live somewhere.
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