California Bashing ... Enough Already! (San Diego, Woodland: apartment, condos, buy)

[shannon94]

Originally Posted by sheri257

Well ... as people are fond of pointing out ... the California desert is neither particularly desirable nor does it have great weather.

Nevertheless, even if this market crash gets incredibly bad, I'm still going to have more equity in my cheap desert house than most people who bought cheap houses out of state.

Why? Because there's still more money in California. Yeah ... the lending was insane and artificially inflated prices in comparison to incomes but, those incomes are still higher ... which was my original point.

When you square those incomes up against the cost of living in California you still net out less............sure YOU'RE in a great industry...you live in the desert where its cheaper...you played it right. But what's the point of mentioning equity over and over if it's just a paper gain.....you don't realize any capital gain unless you sell the property. This decline has only begun.....the desert areas will fall harder and faster.

I'd say I'll have alot of equity in my house in Texas in 6 years. It'll be paid off!!! lol

[shannon94]

Originally Posted by goodbyehollywood

Well, this thread has made one thing abundantly clear-- different people like and want different things. Of course, Baskin-Robbins knew that long ago.

Good thing we have 50 states. So those who hate CA have 49 other choices. And those who don't like those 49 other choices can come to CA. Then everybody's happy and we can all disagree about something else.

Nice post!!! For the record...I'm not one that hates California ...just saw better opportunities. I visit my hometown of San Diego at least 4 times a year and have a ball when I do. Right about now I'm missing Carne Asada burritos from Albertos!!

[sberdrow]

Originally Posted by shannon94

When you square those incomes up against the cost of living in California you still net out less............sure YOU'RE in a great industry...you live in the desert where its cheaper...you played it right. But what's the point of mentioning equity over and over if it's just a paper gain.....you don't realize any capital gain unless you sell the property. This decline has only begun.....the desert areas will fall harder and faster.

I'd say I'll have alot of equity in my house in Texas in 6 years. It'll be paid off!!! lol

on the other coin, whats a paid off house worth if you have to live in
Texas. Your monster property taxes will keep you paying out the nose for the rest of your life.

No, my sister moved to texas so that she could by a house out right, and she hates it, but now she is trapped with 10,000 in property taxes a year. If you ask me, thats just like having a small house payment. Seems to me, its getting to the point where owning a home is not worth it....so many expenses, high insurance, high taxes, higher payments, HOAs, Repair........It was not bad when homes cost about 50k. Then you spend a couple thousand fixing it up to sell it, pay a realtor thousands off your bottom line. Unless your a fixer up type of guy flipping homes, or selling your cali beach home and moving to Arkansas, then I think this is starting to become the countrys biggest hoax.

[sheri257]

Originally Posted by shannon94

the desert areas will fall harder and faster.

I totally agree, but so what? Even with a 40 percent correction, which would be double the 20 percent correction of the '92 real estate crash ... I'd still have $60K equity in my house and I could still sell it at a profit if I wanted to in a down market.

Of course the equity is only on paper but, I like the fact that the house I own for the next 20 years will appreciate in value more than other places. Maybe I'll take out a reverse mortgage for retirement or, maybe I'll sell it all together and move someplace else but ...

I'd much rather own a house that appreciates well than a house that doesn't ... and California is still the best bet for that, as long as you don't pay too much.

[mrsniquie]

I do not really understand why people talk bad about California. California has been pretty good to me. I am originally from Virginia, from a town that is predominatnly military. The only time you are ever able to find a job in Virginia is when the sailors, marines, soldiers, etc. are out in combat.

I came to California and instantly landed a job getting paid under the table. I didn't have to dance on any poles either, if that's what you think. I worked at an off campus bookstore and I raked in enough change to save up for a rental deposit even though I was living with friends.

When that job was over, lasted about three weeks, I was starving and hungry. So I was able to get some benefits as being an unemployed single student. Try applying for Food Stamps in Virginia without having any children. They will laugh you out of Social Services.

Even though I hoped never to have to resort to the 'system', I looked at it as the system I have paid into my entire working teenage life and by the time I am able to receive any of these benefits, if I live that long, Welfare and Social Security will be a thing of the past.

I am about to go back to college to finish my degree as an in-state student now. If I had stayed in Virginia, some colleges won't even take nearly as many credits as Cal State is willing to accept from me. And I won't be entering in as a Sophmore. I will have Junior or 1st semester senior status.

I have my first full-time job with a well-known, international company that is paying me for having 'some college experience'. You won't find an employer like that in Virginia. With good benefits as well, and I am only 24 years old.

As far as everybody being gay in California, hey, I am so comfortable in myself that I am not easily bothered by what others do. I guess I am so into the quality of a person, like ideas because that is what makes the world go around, I don't care who is twitching, licking or kissing who!

In life, we are all squirels, just trying to get a nut.

[shannon94]

Originally Posted by sberdrow

on the other coin, whats a paid off house worth if you have to live in
Texas. Your monster property taxes will keep you paying out the nose for the rest of your life.

No, my sister moved to texas so that she could by a house out right, and she hates it, but now she is trapped with 10,000 in property taxes a year. If you ask me, thats just like having a small house payment. Seems to me, its getting to the point where owning a home is not worth it....so many expenses, high insurance, high taxes, higher payments, HOAs, Repair........It was not bad when homes cost about 50k. Then you spend a couple thousand fixing it up to sell it, pay a realtor thousands off your bottom line. Unless your a fixer up type of guy flipping homes, or selling your cali beach home and moving to Arkansas, then I think this is starting to become the countrys biggest hoax.

She must have bought a 6000 sq ft house!!! Mines only 1700 sq ft. I can pay my yearly taxes in one month..... I hardly call that monstrous.

[sberdrow]

Originally Posted by shannon94

She must have bought a 6000 sq ft house!!! Mines only 1700 sq ft. I can pay my yearly taxes in one month..... I hardly call that monstrous.

nope, her home is 360K. You are way off.

[shannon94]

I said 6000 SQUARE FEET...not the price of the home. I'm well aware what property taxes cost...she doesn't pay 10000 a year on a modest home.

[Ultrarunner]

Please provide more details of how Property Tax is Calculated in Texas... It sounds like the tax rate is around 3%... is this right?

[sberdrow]

Originally Posted by shannon94

I said 6000 SQUARE FEET...not the price of the home. I'm well aware what property taxes cost...she doesn't pay 10000 a year on a modest home.

She has a 2900 squar foot house. They don't do taxes based on square feet so why do you keep at that point???? The do it based on value. And then after you have been there a year you can homestead...which brings it down a little.