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Old 10-10-2006, 04:56 PM
 
1,868 posts, read 5,681,724 times
Reputation: 536

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[quote=Sassberto;120073]
Quote:
Originally Posted by RustyCreek View Post
... I cashed out last November. I sold a 2000sq ft house for 725K and moved to North Carolina.
That same house is on the market now for 675K right now. Man I bet that smarts!

Anyone selling a house after 11 months is pretty much guaranteed a loss, right?
NO....Not if they built equity quickly.....oh wait..that's not happening anymore in San Diego....lol
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Old 10-10-2006, 05:54 PM
 
9,526 posts, read 30,477,668 times
Reputation: 6435
[quote=shannon94;120619]
Quote:
Originally Posted by Sassberto View Post

NO....Not if they built equity quickly.....oh wait..that's not happening anymore in San Diego....lol
Anyone who sells a house after 11 months is a flipper, and accepts the risk they took on. I don't worry about flippers, I worry about regular families.
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Old 10-10-2006, 07:31 PM
 
1,868 posts, read 5,681,724 times
Reputation: 536
[quote=Sassberto;120694]
Quote:
Originally Posted by shannon94 View Post

Anyone who sells a house after 11 months is a flipper, and accepts the risk they took on. I don't worry about flippers, I worry about regular families.
Or someone who lost a job or is worried about the dropping home prices around them,.....I worry about regular families too....alot of my friends...some people just aren't as "schooled" financially and believed everything they were told about the market and financing options. There starting to run stories on these kinds of families, which means it's becoming a big issue.
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Old 10-10-2006, 08:23 PM
 
Location: California, Bay area
170 posts, read 473,625 times
Reputation: 148
What the person who cashed out and moved to NC failed to mention is that they are now in NC. Wow talk about culture shock. I bet the first question they are asked is WHY? Cal has such a great rep. no one can believe they would move out.
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Old 10-11-2006, 06:36 AM
 
1,868 posts, read 5,681,724 times
Reputation: 536
Quote:
Originally Posted by johnmarg View Post
What the person who cashed out and moved to NC failed to mention is that they are now in NC. Wow talk about culture shock. I bet the first question they are asked is WHY? Cal has such a great rep. no one can believe they would move out.
You are funny.....why is it so hard to believe people can be happy elsewhere? The person above seems to love it in NC. Obviously you wouldn't..so stay in Cali and everyone is happy right. I can believe people would move out of Cali.......there leaving in droves. But at least you have the people south of Cali moving in.....that should be great.
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Old 10-11-2006, 09:14 AM
 
Location: Northern San Diego county
8 posts, read 22,965 times
Reputation: 13
Default Moving to San Diego Soon

Hi everyone, I've lived in southern California for more than 54 years and in north San Diego county for 9 years. This area has many advantages with the best weather ever. Obviously, housing is high. If you like the area, it may not matter if you have to buy a smaller dwelling. Almost every area, has various housing prices depending.

I spent the day in Carlsbad this past Saturday and it was glorious. Even if you don't live in that town, its not that far of a drive, if you live in the north county. There are beach towns, suburbs, semi-rural and rural areas and city areas. It just depends on what you look best and the prices. We bought here in 1997 and the prices have almost tripled since then.

Last edited by NorthCountygal; 10-11-2006 at 09:15 AM.. Reason: I erroneously addressed to wrong person first time.
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Old 10-11-2006, 10:23 AM
jmc
 
101 posts, read 862,920 times
Reputation: 48
If you're young and single, by all means move to San Diego!!!! Moving here in my late 20s was one of the best moves I've ever made. If you get married and kids come into the picture (especially if you have no family around to help w/ childcare), then San Diego may not seem as appealing. I agree that the sacrifice can be worth it if you'll be more happy in a place...just make sure it's not TOO big of a sacrifice, that's all. I wasn't content staying in Nashville, TN, so I made the move to CA six years ago. Whether or not you can successfully make it here depends on your income, housing situation, etc. We have a few couple friends (who have at least one child) who are struggling financially here. I have other friends who make a sizable income, so they do just fine; they own a house, take nice trips (one of my friends here has already been to Europe and Turkey this year), etc. We're leaving around Christmas and moving east for a job transfer, partially due to the financial struggle here that we don't want to fall into if children come into the picture. I love it here and will miss it. I probably wouldn't be leaving at this point had I not gotten married. I agree that there's too much negativity on forums, and I have gotten equally discouraged by negative comments about Jacksonville (where we're moving). Just follow your heart, trust God, and see what doors open and close. Seize the day!
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Old 10-11-2006, 07:42 PM
 
Location: WPB, FL. Dreaming of Oil city, PA
2,909 posts, read 14,085,833 times
Reputation: 1033
Quote:
Originally Posted by summertime24 View Post
Not sure what part of DC you are talking about, but most of the houses (or should I say townhomes) and apartments are relatively small and extremely overpriced. So I don't think I will be very shocked at the size of homes in So Cal


Prices have come down alot in San Diego. I have offended some by saying "cheap" well its still not cheap, but shall we say less expensive? There are a plethora of very, very nice million dollar houses. That was impossible at the peak of the bubble! You can now get a decent typical middle class house for $400k to $500k in a nice area.


Quote:
Originally Posted by Sassberto View Post
My point is that for the same money as I would spend on a "big apartment" in DC, I bought a "small house" in San Diego - 15 minutes from Downtown. So while it's expensive, it's all relative.

What was the size and cost? "Small houses" have reduced in price down to $400k in nice areas.


Quote:
Originally Posted by Sassberto View Post
Thanks Shannon. I think you are right about people who bit off more than they could chew... especially in the new construction in North County. My boss at my last job... 33 years old, bought a million-dollar house in Carmel Valley on an Interest-only loan. 2 people living in a 3000 sf house! He's gonna be squeezed hard when that ARM resets.

No kidding! Theres over a hundred houses in Carmel Valley for sale now and you can get cheaper in Scripps Ranch and its just as good a location says my friend who lives in San Diego. That boss should probably refinance now while interest rates are low into a fixed 30 year mortgage! Him and his wife together hopefully make enough to pay the mortgage.


Quote:
Originally Posted by socketz View Post
Personally, I believe there will be a correction - and that it will overshoot the bottom like it did last time - but that it will once again rebound. San Diego is nice, with a good range of jobs (albiet lower paying than most cities), so it will not dip below many other markets in the us tha way many are predicting.

Hmmm..... this explains why in SD prices are half of what they are in other areas such as the bay area.


Quote:
Originally Posted by RustyCreek View Post
Thank you all for moving to San Diego in the last 3 years and driving home prices to record highs! I love all of you so much that I cashed out last November. I sold a 2000sq ft house for 725K and moved to North Carolina.
That same house is on the market now for 675K right now. Man I bet that smarts!

I was a 47 year native and I have this really big grin that just won't go away now.

Good luck to you in SD........Just rent for a year and ride it out...

Smart move! Let me guess, an investor bought your house and now will either sell at a loss or forclose! Serves him right! House prices have eroded significently. You now can get much more house for the money. That 2000 square foot house probably wouldnt sell for more than $600k now. You can get nice houses at around $300 a square foot, $250 even if you look hard.


[quote=Sassberto;120694]
Quote:
Originally Posted by shannon94 View Post

Anyone who sells a house after 11 months is a flipper, and accepts the risk they took on. I don't worry about flippers, I worry about regular families.

Same here. The housing market is returning back to normal now that the greedy flippers are out of the picture. Many of them lost a fortune and learned their lesson. Once house prices bottom out, normal families can buy one at a less expensive price("cheaper") and not worry about prices going down further once it bottomed out.


Quote:
Originally Posted by johnmarg View Post
What the person who cashed out and moved to NC failed to mention is that they are now in NC. Wow talk about culture shock. I bet the first question they are asked is WHY? Cal has such a great rep. no one can believe they would move out.


People can be happy elsewhere. Ill probably be just as happy in West Virginia as I am here in south Florida and nice houses go for $50k in WV!
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Old 10-11-2006, 08:22 PM
 
Location: California, Bay area
170 posts, read 473,625 times
Reputation: 148
Shannon, I posted as Sasso seemed real smug in the post about selling and making a profit and living in NC. I think someone that smug should be shown all that is wrong with the post.
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Old 10-11-2006, 11:31 PM
 
3,035 posts, read 14,432,399 times
Reputation: 915
"Hmmm..... this explains why in SD prices are half of what they are in other areas such as the bay area."

Homes do not cost 2x in the Bay Mr. SA.

The point I was trying to make is that this very same decline has happened several times already in Socal. We always way overshoot the top and the bottom of our cycles. Seriously, I'm shopping in Dallas and the prices are ratcheting up.....but will they catch Socal ? Ask yourself why most CAs are moving to Dallas - lower cost of housing. Why did they move to Pheonix and Las Vegas.....same reason mainly. Those areas will not pass us....can't, or there will be a mass exodus back into CA driving prices up again.
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