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Old 04-22-2008, 04:09 PM
 
10 posts, read 19,552 times
Reputation: 12
California Home Prices have gone up 7.9 percent on average every year since 1969. San Diego is on Sale right now since the market has bottomed out after the past few years of decline. Either way it's the best place to put your money.

After all. You can't live in your low yield mutual fund. :>

I just bought a place in Point Loma with my dad from the bank at nearly 35% off of the list price of a few years ago. List price means little these days. I am a realtor so I helped negotiate with the bank, who is not in the business of selling real estate. There is alot of wiggle room.

I am excited for my new place!
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Old 04-22-2008, 04:14 PM
 
1,868 posts, read 3,883,229 times
Reputation: 502
Jaded:

Well the article that I posted says that it isn't there yet (according to Foreclosure Radar that tracks everything with daily auction updates)...but like I said ...I'm not surprised if it is. I knew this would be a crazy time. Glad I'm not involved in it..lol
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Old 04-22-2008, 04:17 PM
 
1,868 posts, read 3,883,229 times
Reputation: 502
Quote:
Originally Posted by SDLocal21 View Post
California Home Prices have gone up 7.9 percent on average every year since 1969. San Diego is on Sale right now since the market has bottomed out after the past few years of decline. Either way it's the best place to put your money.

After all. You can't live in your low yield mutual fund. :>

I just bought a place in Point Loma with my dad from the bank at nearly 35% off of the list price of a few years ago. List price means little these days. I am a realtor so I helped negotiate with the bank, who is not in the business of selling real estate. There is alot of wiggle room.

I am excited for my new place!
lol...Throw that historic data in the trash!! But congrats on your new home!!
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Old 04-22-2008, 04:48 PM
Status: "Boo!" (set 16 days ago)
 
1,829 posts, read 1,742,918 times
Reputation: 2148
Quote:
Originally Posted by shannon94 View Post
Jaded:

Well the article that I posted says that it isn't there yet (according to Foreclosure Radar that tracks everything with daily auction updates)...but like I said ...I'm not surprised if it is. I knew this would be a crazy time. Glad I'm not involved in it..lol
Me too!
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Old 04-29-2008, 01:35 PM
 
44 posts, read 94,363 times
Reputation: 22
i don't think san diego will ever be considered affordable, but for us it is worth the extra money. i can't imagine living anywhere else...you can wake up on a saturday, and think of a dozen things to do without driving more than 20-30 minutes.
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Old 05-04-2008, 03:45 PM
 
Location: San Diego originally
71 posts, read 139,563 times
Reputation: 17
Nope, I don't think it's more affordable. Can't believe I thought we could even afford to live here again

Rent is ridiculous. I do think to myself everyday...I pay top dollar for the sunshine and beaches, etc.

I still will always love SD but it's not as affordable as it once was and I don't think it ever will be
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Old 05-06-2008, 12:46 PM
 
10 posts, read 19,552 times
Reputation: 12
Default Banks

Quote:
Originally Posted by shannon94 View Post
I understand what your saying....but it's obvious if to many homes are sitting there they are going to continue to come DOWN in price....(therefore more affordable) ....no bank is just going to let them sit there for ever. Even investors aren't going to buy until the "bottom" hits. Foreclosure sales at auctions are already declining......even when selling at 20% off of loan value. Guess they will have to come down a little more now won't they
banks are not in the business of real estate. They sell homes and fast. The banks know about money and they get the homes off their books because they need to make loans. They are underpricing the market which is making it a competitive buyers market.

I just bought a house this year that was listed 35% more a few years ago. It's all about location with real estate. Find a good location, get a good deal from a bank owned or distress sale, and the only way is up!
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Old 05-06-2008, 07:05 PM
 
82 posts, read 263,849 times
Reputation: 16
No it is not affordable. The ratio of square footage you get for price is crazy. the job market is poor and you make less money at the same job you can do elsewhere. You just have to decide if it is worth it to live by the beaches and climate.
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Old 05-06-2008, 07:07 PM
 
Location: lamesa ca
17 posts, read 44,064 times
Reputation: 12
Cool san diego costs

it is getting more expensive as we speak. the housing is oput of sight and most young fanilies struggle to keep their ho0mes.
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Old 05-06-2008, 09:15 PM
 
1,868 posts, read 3,883,229 times
Reputation: 502
Quote:
Originally Posted by SDLocal21 View Post
banks are not in the business of real estate. They sell homes and fast. The banks know about money and they get the homes off their books because they need to make loans. They are underpricing the market which is making it a competitive buyers market.

I just bought a house this year that was listed 35% more a few years ago. It's all about location with real estate. Find a good location, get a good deal from a bank owned or distress sale, and the only way is up!
"Up" is going to be quite awhile.......and your right...banks want to sell fast...which is why prices will continue to come DOWN.
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