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Old 08-23-2015, 08:01 PM
 
Location: San Diego
1,523 posts, read 1,460,677 times
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Low inventory and low interest rates. No reason to believe either will stay low indefinitely.
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Old 08-23-2015, 08:05 PM
 
6 posts, read 8,613 times
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Quote:
Originally Posted by malcorub16 View Post
^^ Rosie speaks the truth once again, San Diego real estate has a way of humbling a man, even if said man makes 6 US digits which by the world's standards is RICH.

OP, look else where, where you can afford in today's market. Otherwise you will live unhappily ever after in debt trying to avoid "blue collar" PQ and fit in with where you think you belong but you really can't afford.
You misunderstand me. I am not disparaging PQ but trying to understand how an area with $600-$900k homes is considered blue collar.
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Old 08-23-2015, 08:32 PM
 
Location: Laguna Niguel, Orange County CA
9,810 posts, read 11,056,740 times
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Quote:
Originally Posted by Rainydaysd View Post
You misunderstand me. I am not disparaging PQ but trying to understand how an area with $600-$900k homes is considered blue collar.
Because areas change. Locations that once housed middle class persons require upper middle class earnings or higher now. This is common all over Southern California. I am not sure why this confuses you so much. For example, the original buyers or their heirs will not necessarily be high income, but since that time the other buyers will have had to pay far more for the privilege of living in that area.
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Old 08-23-2015, 08:50 PM
 
6 posts, read 8,613 times
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Originally Posted by LuvSouthOC View Post
Because areas change. Locations that once housed middle class persons require upper middle class earnings or higher now. This is common all over Southern California. I am not sure why this confuses you so much. For example, the original buyers or their heirs will not necessarily be high income, but since that time the other buyers will have had to pay far more for the privilege of living in that area.
If I asked someone NOW what is considered a working class area, I do not anticipate someone responding with an area that might have been thirty years ago but now houses the 1%. Don't understand the hostility here. Sorry, I haven't lived in SD for upwards or two decades to understand the demographic changes in these suburbs. It is my first foray into house hunting and there is a big disconnect between what neighborhoods my peers are suggesting we look into and what the prices are listed at. Just trying to figure out the reality.
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Old 08-23-2015, 09:02 PM
 
Location: Laguna Niguel, Orange County CA
9,810 posts, read 11,056,740 times
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Hmmm, well I can see how the prices cloud perceptions. As an example, I am not thrilled about Culver City. It is however, a very expensive area in LA now due to its location. Yes, Culver City is considered upscale now, a fact that is hard for me to swallow, but that doesn't change the fact that to buy there would take a lot of change.
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Old 08-23-2015, 09:44 PM
 
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yes, just look at Claremont..."box" houses on an ugly street are selling for over $500k. That is crazy, one could live like a king anywhere else in the country for a half million dollar house.
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Old 08-23-2015, 11:10 PM
 
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IMO 150k is really minimum, you need to be making more like 200k+ to bite off the big new mortgage in SD. It's very competitive and expensive right now.
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Old 08-23-2015, 11:29 PM
 
Location: San Diego CA>Tijuana, BC>San Antonio, TX
6,478 posts, read 7,430,380 times
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Quote:
Originally Posted by Rainydaysd View Post
If I asked someone NOW what is considered a working class area, I do not anticipate someone responding with an area that might have been thirty years ago but now houses the 1%. .
Sorry for coming across as hostile, but the only possible blue collar area in North City San Diego I can think of would be Mira Mesa and that has been the case since I have lived here. But even so, blue collar for MM is a stretch.

To be honest with you, some of us are not speaking in terms of 30 years, 5-7 years ago was a different story much less 30 years ago. Areas that you are looking in were in your price range about 6 years ago, it is rough but alot of people have been priced out of ceratin desirable areas in SD in recent years.

I live in a very nice house in a "blue collar" area and my neighbor recently bought half the house I bought in 2010, for 150K more. Real estate in SD particularlly has increased exponentially in the last 5 years alone, good for us and even better that we refinanced at this Spring's low rates. Hang in there my friend, you will find something that meets your family's needs, though it just might not be in the zip code you wish to be in.
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Old 08-24-2015, 02:12 AM
 
8,365 posts, read 7,556,773 times
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Rainyday,
Out of curiousity, I checked out houses for sale in North County on Zillow. I see a number of houses in the under $500,000 range, including some in PQ and even Poway. Not a lot, but some. There are also quite a few in that range in Escondido if you want to go a little farther North to get a house. Now, it could be the houses I see listed aren't exactly what you're looking for, but there ARE houses in your price range available.

Are you working with a good real estate broker who is actively looking for options for you? If not, or if your realtor isn't finding at least a few houses in your price range for you, it might not hurt to find a good realtor and build a strong relationship with them. They can also point you to other areas that might fit your needs.

Good luck!

Last edited by RosieSD; 08-24-2015 at 02:32 AM..
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Old 08-24-2015, 07:54 AM
 
771 posts, read 828,898 times
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Quote:
Originally Posted by Rainydaysd View Post
I appreciate your response but would inland North county really be speaking to the 1%ers of the nation? Definitely coastal North County but including, like, Carmel Mountain Ranch? I guess I never considered this region to be upper class (maybe upper middle class). Like I wrote earlier, other city data posters have characterized PQ as "blue collar."

So all of the new home owners are making annual incomes of at least $250k? Hm sobering.
For those buying right now, yes. Or at least to the top 5%. Of course, there will always be folks who will take out a loan for 4x gross or whatever the max a lender will give and put very little down. They will also be the ones underwater and/or foreclosed upon when the next real estate down cycle happens. IMO, if you don't have a 20% down payment, that's a red flag that you're getting in over your head.

As someone else said, some of the weirdness of real estate in SD is caused by high desirability coupled with props 13/60. Essentially you end up with people in homes that they couldn't afford to buy again now because prices have gone up a lot (and are currently in a "high cycle") and because real estate taxes would be re-assessed on this much higher value and would now be unaffordable. This is also why it's often impossible for someone to move away from SoCal and then move back.

Personally, with your situation, I wouldn't buy or rent in SD. But if you are set on it, I would suggest you rent. That way, you might be able to time the up/down cycle a bit better. Also, you might find SD isn't for you now that you have a little one and if you're renting, it'll be a lot easier to get out.
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