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Old 05-10-2007, 04:29 PM
 
Location: Metro Detroit, MI
3,490 posts, read 3,198,895 times
Reputation: 466

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Quote:
Originally Posted by midnightbirdgirl View Post
Where did you get this information?
MBG
From living there. I figured I would **** some of you off but just giving an honest opinion (which I realize are like buttholes, everyone has a stinky one) from an honest to goodness Desert Rat!
Let's face it, in comparison to most places, the desert sucks. If it didn't the population would be much larger than it is! The only reason it has increased at all is because it's cheaper (and why is that?) and from the occasional person who, for reasons I will never get but don't have to, loves the desert. This poor guy is being forced to move there. I see no need to pull wool over his or anyone else's eyes by grasping for great reasons to buy there. I personally know LOTS of people who have lost their BUTTS in the past year in Cali, and from what friends and family are saying, it's just getting worse. Like previous posters have said, it seems foolish and silly to buy when he may only be there 2 years.
Of course he could take a risk and do so, but again, it doesnt seem wise. A few years ago, I would have shouted yes from the mountain tops and then got thank you flowers when he cashed his enormous equity check!
And yes, compared to the rest of Cali especially, rent IS that cheap in Lancaster.
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Old 05-10-2007, 04:34 PM
 
Location: From Sea to Shining Sea
1,082 posts, read 3,779,676 times
Reputation: 519
Quote:
Originally Posted by jeffncandace View Post
From living there. I figured I would **** some of you off but just giving an honest opinion (which I realize are like buttholes, everyone has a stinky one) from an honest to goodness Desert Rat!
Let's face it, in comparison to most places, the desert sucks. If it didn't the population would be much larger than it is! The only reason it has increased at all is because it's cheaper (and why is that?) and from the occasional person who, for reasons I will never get but don't have to, loves the desert. This poor guy is being forced to move there. I see no need to pull wool over his or anyone else's eyes by grasping for great reasons to buy there. I personally know LOTS of people who have lost their BUTTS in the past year in Cali, and from what friends and family are saying, it's just getting worse. Like previous posters have said, it seems foolish and silly to buy when he may only be there 2 years.
Of course he could take a risk and do so, but again, it doesnt seem wise. A few years ago, I would have shouted yes from the mountain tops and then got thank you flowers when he cashed his enormous equity check!
If your opinion was honest you really would not have to use such foul language to get your point across, but then again from the sound of it, you likely live on the East side.
I don't know anyone in CA who has had their home increase in the past 6 months, but that is all of CA, and if you had a clue about Real Estate, you would know it is a buyers market, and now is the time to buy. It really is not as bad as you claim it is here (but then again you are comparing east Lancaster with Malibu).
MBG
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Old 05-10-2007, 05:26 PM
 
Location: Metro Detroit, MI
3,490 posts, read 3,198,895 times
Reputation: 466
Quote:
Originally Posted by midnightbirdgirl View Post
If your opinion was honest you really would not have to use such foul language to get your point across, but then again from the sound of it, you likely live on the East side.
I don't know anyone in CA who has had their home increase in the past 6 months, but that is all of CA, and if you had a clue about Real Estate, you would know it is a buyers market, and now is the time to buy. It really is not as bad as you claim it is here (but then again you are comparing east Lancaster with Malibu).
MBG
Huh? The word I used I've never considered a bad one, and was actually surprised it was deleted. (It's an alternative to the word "urine"). I have no idea why you feel the need to insult me. Must have struck a nerve.

Thankfully, I don't live in Lancaster, on any side. I lived in Temecula until last year, and moved to Michigan to be near family. Because I still have lots of family and friends who still live in the desert, in Lancaster and in the small towns previously mentioned, I have visited quite frequently, and of course I hear from them about how things are there.

If I had a clue...Ouch! Yes, it definately is a buyer's market. Do you agree that it probably still will be in 2 years, when he has to sell? THINK. That is why I, who never claimed to be an expert, think it may not be prudent to buy in a troubled market when he may need to sell pretty soon.

Am I smoking grass? When did I ever compare East Lancaster to Malibu?

I am aware some people like it there. I am also aware that the vast majority of people I know who have lived or do live there hate it with a passion and do nothing but gripe about how much they hate it. I happen to be one of the latter.

I can't fathom why you think I would bother posting if I wasnt being honest. Are you saying I secretly love the desert but I want to front like I hate it? That doesnt make any sense.

Typical desert logic.

Ouch!
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Old 05-10-2007, 05:53 PM
 
Location: West LA
723 posts, read 2,998,825 times
Reputation: 300
Quote:
Originally Posted by jeffncandace View Post
From living there. I figured I would **** some of you off but just giving an honest opinion (which I realize are like buttholes, everyone has a stinky one) from an honest to goodness Desert Rat!
Let's face it, in comparison to most places, the desert sucks. If it didn't the population would be much larger than it is! The only reason it has increased at all is because it's cheaper (and why is that?) and from the occasional person who, for reasons I will never get but don't have to, loves the desert. This poor guy is being forced to move there. I see no need to pull wool over his or anyone else's eyes by grasping for great reasons to buy there. I personally know LOTS of people who have lost their BUTTS in the past year in Cali, and from what friends and family are saying, it's just getting worse. Like previous posters have said, it seems foolish and silly to buy when he may only be there 2 years.
Of course he could take a risk and do so, but again, it doesnt seem wise. A few years ago, I would have shouted yes from the mountain tops and then got thank you flowers when he cashed his enormous equity check!
And yes, compared to the rest of Cali especially, rent IS that cheap in Lancaster.
You apparently don;t understand the meaning of the word opinion. It is NOT fact I guess since LOTS of people lost their BUTTS in the past year or two, everyone else will too! And just because YOU dont like the desert, I guess NO ONE does!!! Etc. Etc. hahaha...

heh.

Fritzmt: Ask around to any financial adviser if you will. Personally, I KNOW that owning is [ALMOST] always better than renting. But don't take my word for it, consult financial consultation if you really want confirmation.

As far as the current market goes. Los Angeles area IS in a lull. It is expected to be here for another year or two. Real estate, in the long run, ALWAYS goes up. ALWAYS. No matter what. It might take ten years in certain circumstances, but it WILL go up. Southern California is a hot spot, and I feel the current lull won't last long. I personally intend on using this lull to buy another property, if I can get in there in time. But then, I am in for the long term (6-10 years plus). Even if you lose a small percent per year for a year or two, it's better than throwing your money away on rent. -=IMO=- Also remember that housing prices (the "lull" and rent are inversely linked. So the worse the housing market does, the higher rent goes up because owners KNOW you need a place to live...)

With that, $2200 should go QUITE a ways in Lancaster. Personally, I love the desert. I travel out to/through the Mojave when I can. Don't be discouraged by naysayers. It IS more extreme. Hotter, colder, less temperate. You'll not be TOO far from civilization, etc.

Good luck!
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Old 05-10-2007, 06:57 PM
 
9 posts, read 37,169 times
Reputation: 16
Hmmmm...Lancaster/Palmdale...not a market I would want to be buying into right now. This area, in the past, has been extremely vulnerable to boom/bust cycles with declines as much as 50% happening in the last 12-15 years. While the recent appreciation has been mind-numbing, I wouldn't expect that to be happening again anytime soon. I believe the market is just starting to feel the effects of tightening standards in the mortgage market (where if you fogged a mirror you could get a loan) and that will squeeze out the marginal buyer, putting downward pressure on housing prices, as more inventory builds. Renting is not always a bad idea, especially in a downward market. Just my opinion, of course.
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Old 05-10-2007, 08:05 PM
 
Location: From Sea to Shining Sea
1,082 posts, read 3,779,676 times
Reputation: 519
Quote:
Originally Posted by bikegirl View Post
Hmmmm...Lancaster/Palmdale...not a market I would want to be buying into right now. This area, in the past, has been extremely vulnerable to boom/bust cycles with declines as much as 50% happening in the last 12-15 years. While the recent appreciation has been mind-numbing, I wouldn't expect that to be happening again anytime soon. I believe the market is just starting to feel the effects of tightening standards in the mortgage market (where if you fogged a mirror you could get a loan) and that will squeeze out the marginal buyer, putting downward pressure on housing prices, as more inventory builds. Renting is not always a bad idea, especially in a downward market. Just my opinion, of course.
Different time and a much different place than it was 15 years ago.
MBG
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Old 05-11-2007, 12:03 AM
 
134 posts, read 562,314 times
Reputation: 63
Default RE Crash

Prices are currently dropping fast in The AV and this is the buying season.To buy and hold for 2 years is financial suicide right now.I have been buying real estate in Lancaster for over 20 years and the market goes down by 50% so in 2 years you could easily lose 100k.I sold all my properties in 2005 and am just waiting to buy back in however the soonest i will consider buying is late 08 or 09.There are forclosures on every street now and the pain is only beginning.
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Old 05-11-2007, 07:39 AM
 
4,610 posts, read 11,100,711 times
Reputation: 6832
Bikegirl, jeffncandace and desertdawgx, are making very valid points here. They seem to know what they are talking about. Whatever you fritzmt decide to do, I wish you the best of luck.
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Old 05-11-2007, 09:10 AM
 
28 posts, read 108,559 times
Reputation: 12
Default Would rent cover your mortgage

It would be fun to own until you get those orders elsewhere or until you realize that you hate the school district or your neighbors.
The real question is whether the rent you would receive (when you have to leave the area) would cover your VA mortgage+insurance+taxes. If rent is sufficient, then the risk of your investment is low because you can afford to sell whenever you like.
If rent is considerably below your mortage payment, then you really would be subject to the whim of the market...
One guy on this forum wrote that you are either renting a home or renting the money. .....
In my mind, brand new base housing would be the real deal...safe, new, modern...
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Old 05-11-2007, 09:17 AM
 
Location: Metro Detroit, MI
3,490 posts, read 3,198,895 times
Reputation: 466
Quote:
Originally Posted by malimea View Post
In my mind, brand new base housing would be the real deal...safe, new, modern...
The original poster said there is no base housing available. That would be the best option simply for commuting reasons. My whole objective was just to advise him where the nicest area is in the area, which is West Lancaster/Palmdale/Quartz Hill.
He could buy and make a mint...If i were him i wouldnt risk it right now, especially in the High Desert.
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