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I don't understand why you people continue to kill yourselves over this. Just move. I really can't grasp the fixation.. Is it the ocean? Yeah, it's nice... tell me this, even if you do get your house, will you end up being so house poor, that you won't have anything left over for the other things in your life? you know: kids, cars, vacations, retirement, etc.
What about having free time to enjoy those other facets of existence?
Jobert, I am going to have to somewhat agree with you but for some to "just move" it might not be that easy. Our situation was different so we did "just move". We just bought a house in Temecula and we can't be happier. We didn't want to be house broke and we still wanted to buy a large house and still wanted to have kids and cars and vacations. With a budget of 400k we knew that we wouldn't get what we wanted in SD so we decided to look into Temecula(1 hour outside of San Diego) and we found a beautiful house that was built in 2003 and is 2648 sq ft and it was only 280k. We could have stayed in SD and bought a smaller house for around 400k but that would have been at the top of our budget and would most likely be an older home and much smaller and we would have had to pinch pennies. Now we dont have to worry as much about any extra spending and we can still vacation etc. We are very happy with our move and love our house and the location.
To the OP. Good luck with the house hunting. We had the same thing happen up here when we were putting in offers. We put offers in on numerous homes and lost the first 4 do to the other buyers having more cash down. We finally found our house that we have been in for a month now and we love it.
Good Morning, All! I am looking for a little pick-me-up, if anyone will be so kind as to sympathize with me or tell me everything will be OK My fiance and I have been house-hunting off and on since April, but haven't been really serious about it until November. Now we feel we're ready to really focus and get a house. I might add that nothing I've seen on the listings from April to Nov has really sparked my interest, either.
I'll start off by saying our max is about $340k. We're looking primarily in Spring Valley, La Mesa, Lemon Grove, and City Heights (where we currently live, in a very quiet tucked-away section). The other areas of SD I am not interested in, or they are way out of our price range.
I am getting frustrated because the only houses I'm seeing on the MLS are either sh***y foreclosures or investor flips (which rule us out for 90 days because we are FHA). And the few traditional sales that do exist are being listed by sellers that are suffering from "house dysmorphia", IMO. They won't settle for anything less than what the value of their house was in June 2006.
So far we have put in 4 offers. Two were short sales that were never accepted by the bank and therefore went to foreclosure, one we never even got a response from the seller's agent, and the other...well, see below.
Last week we found "the perfect house". I know, I know...never get emotionally involved. But I really couldn't help it; we were countering back and forth for about a week, had a strong offer, I really thought we were going to get it...then over the weekend, we found out we were outbid and I literally sobbed for 30 mins. I know it sounds ridiculous, but I truly feel like we're not going to find something more perfect for us than that house: location, price, layout, etc, etc. I am so incredibly PO'd - I want to punch the seller in the face - and looking at the MLS after losing that house makes me want to jump off a bridge. Everything looks even MORE crappy than before. If I see one more house for $250k with a bunch of cinderblocks for a fence, and linoleum OUTSIDE covering the PATIO, I am going to go insane!! I know I need to calm down, but I just hear these stories of people getting outbid 12, 15 times...and I wonder if I'm just going to start trying to "settle" for some crappy house...which I DON'T want to do...any seasoned house hunters out there in SD to help me?
~S.
First I am going to say. Go and take a cold shower !.. then sit and have a warm cup of coffee or tea and relax .If every one thinks the same way I that they will never be able to buy a home then prices will keep rising. The banks won't take your offers because the foreign investors have the cash , they don't have to ask for a loan . so you are wasting your time . Plus $350,000.00 for a house in SD . I have a friend in FONTANA that just bought a 3 bed room home for only $59,500.00 and all it needs in interior painting . Another bought a 3 bed, 3 bath on 5 acres in Perris that sold in 2005 for $757,000.00 he bought it for $188,000.00. Yes the old owner took the Stove , Refrig, Microwave, and Dish washer, but those only cost $6,000.00 to replace. Keep your cool maybe this is not the time to be trying to buy. And don't worry they are not going to sell ALL the empty homes when the homes finally hit bottom , and I am told we are not ANYWHERE NEAR THAT POINT.
Last edited by Fighter 1; 12-14-2009 at 09:43 PM..
Jobert, I must say that your suggestion to "just move" is ludicrous. Firstly, in this economy, my fiance and I are fortunate enough to both have jobs - pretty well-paying jobs, that we actually LIKE. I would say that's pretty much a number one concern in this economy. Why would I give up that precious security right now? Secondly, we enjoy living here. Thirdly, we are not "house poor". Even a $340k mortgage would be less than 30% of our net monthly income. We have plenty left over that we put into our 401ks and savings account for things like vacations and an emergency fund. We are not big spenders or extravagant people. We own both of our cars outright (a Dodge and a Hyundai) and have very little credit card debt. Long story short, even if we both made a very modest $40,000 a year each, we could easily still afford our mortgage, some savings, and enjoy going out to dinner and other excursions. As for children, we don't plan to have any. I also don't think that $340k is a ridiculous price to pay for a home. If you live anywhere on either coast, save for a few states in the South, that is a pretty average house price. What about places like San Francisco, New York, Boston, Seattle, D.C.? I think people in those locations would give their right arm to find even a studio condo for $340k. Living in San Diego is really not as ridiculous as you proffer it to be. You have to realize that Texas (do you still live in Austin?) has a nearly unlimited amount of land, therefore it is not being sold at a premium like just about everywhere else.
Fighter1, your comment is as crass as your advice. This is a public forum and the OP is just venting out. Stick to your RVing because you are not being helpful to anyone.
It is not a waste of time attempting to purchase a house, since it is usually the most expensive purchase most Americans will ever make. Feel free to tell everyone not to purchase property, it will only decrease my competition.
This is a fustrating problem to many who desire to purchase a house. Just because your friends got deals in Fontana/LA, it does not translate to everyone. There are multiple variables, such as distance to work, school zones/Mello Roos, neighborhood/HOAs, house age/renovations and plus the amount of land/location.
Fighter1, your comment is as crass as your advice. This is a public forum and the OP is just venting out. Stick to your RVing because you are not being helpful to anyone.
It is not a waste of time attempting to purchase a house, since it is usually the most expensive purchase most Americans will ever make. Feel free to tell everyone not to purchase property, it will only decrease my competition.
This is a fustrating problem to many who desire to purchase a house. Just because your friends got deals in Fontana/LA, it does not translate to everyone. There are multiple variables, such as distance to work, school zones/Mello Roos, neighborhood/HOAs, house age/renovations and plus the amount of land/location.
Sorry my advice offended you. Given the fact that I have been for the last 1 1/2 years helping people get back their investment in those same homes that the banks are foreclosing on by filing UCC-1 claims on their homes. I have more contact with people caught up in this mess. I hear daily of people going threw the same problems Banks are not working with the home owners, there too much foreign money in the market now and yes if you don't have cash or a big down payment you will have a hard time getting into a home so rather then go crazy and be upset, my suggestion was and will be just wait. The market will adjust down further in time . Additionally I live in an RV by choice , doesn't mean I am out of the link as to knowing what is happening in todays housing market. Having the desire to purchase a home in hast could result in that most expensive purchase to being the biggest mistake in one's life if the value continues to drop. That purchase is for 25-30 years , average person moves every 6-7 will they be able to sell above what they owe? or will they be in the same as the person that lost the home in the first place . "CAUTION" thats all I am saying .
Last edited by Fighter 1; 12-15-2009 at 08:24 AM..
Sorry my advice offended you. Given the fact that I have been for the last 1 1/2 years helping people get back their investment in those same homes that the banks are foreclosing on by filing UCC-1 claims on their homes. I have more contact with people caught up in this mess. I hear daily of people going threw the same problems Banks are not working with the home owners, there too much foreign money in the market now and yes if you don't have cash or a big down payment you will have a hard time getting into a home so rather then go crazy and be upset, my suggestion was and will be just wait. The market will adjust down further in time . Additionally I live in an RV by choice , doesn't mean I am out of the link as to knowing what is happening in todays housing market. Having the desire to purchase a home in hast could result in that most expensive purchase to being the biggest mistake in one's life if the value continues to drop. That purchase is for 25-30 years , average person moves every 6-7 will they be able to sell above what they owe? or will they be in the same as the person that lost the home in the first place . "CAUTION" thats all I am saying .
Well darn it, why didn't you phrase it like that in the first place? Now I feel bad...sorry.
BTW, nothing wrong with RVing. My comment was just a jab. It is very popular to travelers and tailgaters who follow sports/racing around here. It's a second home.
I wonder if prices will ever deflate to say year 2000 levels, so that SD residents can afford property, instead of rich investors who can pay all up front. At these prices, renting is cheaper than buying for me. The fact that the government grabs a portion above $500k sales and the 6% RE commision also decreases any potential return if I move again.
In the end, I will only purchase property in SD if I can rent it out to cover the mortgage, just in case I move again. Until prices deflate to that level, I myself will wait, knowing it may never happen.
Jobert, I am going to have to somewhat agree with you but for some to "just move" it might not be that easy. Our situation was different so we did "just move". We just bought a house in Temecula and we can't be happier. We didn't want to be house broke and we still wanted to buy a large house and still wanted to have kids and cars and vacations. With a budget of 400k we knew that we wouldn't get what we wanted in SD so we decided to look into Temecula(1 hour outside of San Diego) and we found a beautiful house that was built in 2003 and is 2648 sq ft and it was only 280k. We could have stayed in SD and bought a smaller house for around 400k but that would have been at the top of our budget and would most likely be an older home and much smaller and we would have had to pinch pennies. Now we dont have to worry as much about any extra spending and we can still vacation etc. We are very happy with our move and love our house and the location.
To the OP. Good luck with the house hunting. We had the same thing happen up here when we were putting in offers. We put offers in on numerous homes and lost the first 4 do to the other buyers having more cash down. We finally found our house that we have been in for a month now and we love it.
To each their own I guess. I'd rather live in an older house with 1300 wq ft near the beach. Tememcula area is crazy busy and way to hot. You might as well live in Texas in my opinion.
I lived in Austin for over 25 years and can tell you that your $340k limit would buy you a massive mansion in Austin that is probably 12 thousand feet inside. Not kidding. We do not have unlimited land to be honest. It's starting to be built out. Our house prices started to soar when Michael Dell started up his company and landlords got greedy and started upping rent prices and house prices and people still BOUGHT the houses and continued to pay rent. Same thing happened in California except it happened a long time ago and yall are still paying for it. Now that Mr Dell's company is starting to fizzle...house prices are starting to finally drop. We have tons of Californians who have moved here because they can buy a house with the money they had in California and have a better quality of life and kids have activities and all of that stuff. You probably could buy a house in Austin CASH and be able to find a job that pays well and enjoy life. I can understand people wanting to live in a high cost of living area but really think about it before hand. Do you really want to kill yourself working to death just to have a house in the area you want?
With that being said, I finally got tired of living in Austin and moved to Kansas. My wife pays $550 a month (includes house insurance and property taxes) for a 3 bdrm house with a basement and a fenced backyard in a good area. I'm unable to work due to being a full time dad during the day and night school. My wife makes $24 an hour and we're able to get by with what we have and support 2 kids. It's just more do able in Kansas. We live in the biggest town in Kansas. She has been a lifelong Kansan but with that being said, we plan to move out of state eventually. Maybe back to Austin...maybe somewhere else. Just gotta wait til June 2010 for my graduation date and then see where I get a job offer. My wife loves Austin but hates the high cost of living and horrible traffic.
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My fiance and I have been house-hunting off and on since April, but haven't been really serious about it until November. Now we feel we're ready to really focus and get a house. I might add that nothing I've seen on the listings from April to Nov has really sparked my interest, either.
