I've tossed around that idea with our beach house but we're prop 36'd in. Too much of a gamble.Two houses next to our's sold recently. One was a 1800 sqft. 3/2 1/3 acre with a small pool. Built a couple of years ago and went for $680k. This was with zero landscaping and only a small barrier just around the pool. The house next to it that was built in the 60's sold for 350K right when it hit the market. Nothing special about the house or lot.
We have thought about selling our house (just like we thought about it in 06) and sitting on the money, but we like our large corner lot and our neighborhood too much. Really tempting to sell both the house and the boat and just sit back and wait.
I’ve gone through that deal and still don’t really understand it. I’ve had offers chosen over mine because it was a cash offer? What’s the main difference? Probably a dumb question but an honest one.Stuff is selling the day it hits the market. I sold my home and never put a sign in the front. The house we bought was listed for several months and we were the first offer.
I have a coworker looking right now for his first home, 250K range and everything he goes to look at after work already has multiple offers by the time he gets there. One home he made an offer on, the seller didnt accept because of another offer that was half cash
Bubble is going to explode save your money buy in 3 months
Maybe less chance for it to fall out of escrow due to buyer not being able to obtain a loan.......I’ve gone through that deal and still don’t really understand it. I’ve had offers chosen over mine because it was a cash offer? What’s the main difference? Probably a dumb question but an honest one.
I've tossed around that idea with our beach house but we're prop 36'd in. Too much of a gamble.
That makes perfect sense thank youMaybe less chance for it to fall out of escrow due to not being able to obtain a loan.......
I’ve gone through that deal and still don’t really understand it. I’ve had offers chosen over mine because it was a cash offer? What’s the main difference? Probably a dumb question but an honest one.
I get it now. We had a hell of a time with the chino house closing. Makes a whole lot of sense.Cash is quick. Think how long it takes to get a mortgage, and all of the outs you have as the purchaser, then you may not even get approved and the seller starts the process over again.
Would you rather sell your car to the guy that shows up with cash and drives it away 30 mins later, or the guy that has to meet you at the bank with the car in 3 days to get you your money?
Two houses next to our's sold recently. One was a 1800 sqft. 3/2 1/3 acre with a small pool. Built a couple of years ago and went for $680k. This was with zero landscaping and only a small barrier just around the pool. The house next to it that was built in the 60's sold for 350K right when it hit the market. Nothing special about the house or lot.
We have thought about selling our house (just like we thought about it in 06) and sitting on the money, but we like our large corner lot and our neighborhood too much. Really tempting to sell both the house and the boat and just sit back and wait.
It's out of control here. Worse (or better, however you look at it) than 07.Anything on the beach has got to be pricey now. We had a chance to buy a place on the sand in North San Diego County in 96 for 100k. HOA was too high IMO, and the parking sucked. Looking back, not buying that place was a HUGE mistake.
It's out of control here. Worse (or better, however you look at it) than 07.
Two houses next to our's sold recently. One was a 1800 sqft. 3/2 1/3 acre with a small pool. Built a couple of years ago and went for $680k. This was with zero landscaping and only a small barrier just around the pool. The house next to it that was built in the 60's sold for 350K right when it hit the market. Nothing special about the house or lot.
We have thought about selling our house (just like we thought about it in 06) and sitting on the money, but we like our large corner lot and our neighborhood too much. Really tempting to sell both the house and the boat and just sit back and wait.
We went to visit a friend on Sunday and had lunch at Brophy's in the harbor. We then went to Mandalay Shores to look at some real estate. We're seriously thinking about moving to that area once the kids are done with high school. We've been going to Ventura a lot this summer. Love that area.
I’ve gone through that deal and still don’t really understand it. I’ve had offers chosen over mine because it was a cash offer? What’s the main difference? Probably a dumb question but an honest one.
Oh snap, we'll be neighbors bro! Hope you guys are ready to party - Dat Beach Life
Mandalay Shores is nice if you're going to live on the water front. Problem is those house start around 3-3.5 mil. The side streets have a lot of rentals so you kind've have to be careful where you buy. Silver Strand Beach has always been a bit eh, less desirable. Check out our beach, Hollywood Beach. No bad areas, street are set up parallel to the beach instead of at a 90 degree so you're never too far away from the sand if you can't afford to live water front.
And don't be scared to get ahold of me next time you're out. Especially on the weekend. Get a few beers / drinks and fire up the BBQ. Give you the nickle golf cart tour of the area.
Yep. We don't venture much up to Ventura, for multiple reasons but I have been in there a few times over the years. They do well and the food is good.We're looking at Hollywood beach as well. My buddy owns Barrel 101 if you've ever been there.
No. That is laughable.
I don't understand why everyone says "wait for the bubble to pop, its coming!" My family is in construction so we are the first to lose business if the economy goes south so we are always paying attention. People have been saying its going to pop for the last three years and every year has been better and better for us. We are having one of our best years this year! There is no inventory for housing and rates are the lowest they have ever been. I don't see a pop coming any time soon. I see it going crazier once all businesses go back to normal working environments
Been actively watching the last 18 months.Exactly. There have been people claiming financial armageddon in “18 months” for the last 5 years. Rates won’t be going any higher for awhile. Construction isn’t stopping. There are plenty of canaries in the coal mine for housing prices, and they aren’t going to drop 40% in a handful of months. In fact the foreclosure moratoriums are likely keeping people in their homes, lowering supply and are helping drive up prices.
Yes there are people hurting without work, but many many people making good money in the upper middle to upper class have not been affected much.
But yea the “bubble” is going to pop in 3 months, and every car, home, boat, RV and toy purchase in the last 4 months is from PPP funds.
This will happen for sure if Biden gets in!I don't understand why everyone says "wait for the bubble to pop, its coming!" My family is in construction so we are the first to lose business if the economy goes south so we are always paying attention. People have been saying its going to pop for the last three years and every year has been better and better for us. We are having one of our best years this year! There is no inventory for housing and rates are the lowest they have ever been. I don't see a pop coming any time soon. I see it going crazier once all businesses go back to normal working environments
Been
Been actively watching the last 18 months.
I agree, the Ca. Retirement effect will stop any major free fall like 09’
It might level off but no way it’s dropping over 11 in the next year.
Ca. Govt, stupidity has helped Havasu tremendously in many leaving Ca for good.
My buddy I rent from paid $300k two years ago.
South side sub 1600’
Getting $4-5k a month in rentals summer months, $3800 a month Oct to April froM snow birds
He picked up a mobile on island and the rental pays for it and his deck boat on top of the rental house.
I laugh at people thinking the next down turn is going to be anywhere near 2010.
The retirees moving in now have way more $ to not let their purchase affect any downturn.
A couple who we know very well sold their San Diego house in two hours, to an out of state buyer. Never hit the market. They turned around a bought a house outside Denver, sight unseen. They had their daughter do a walkaround, and looked at some pictures.
Their San Diego house is a smallish 4/2, probably 1400 SF, 5000 lot, 25 minutes from the beach, it sold for $849. Denver house is like 4800 sf, three car garage, huge lot and cost $625,000.
All done without walk throughs, open houses, or much more than internet info. Times are changing.
Foreclosures are still few and far between. That infamous "Shadow Inventory" has trickled out and is not a thing anymore. Bulk purchasers made a killing on their investments. The foreclosure moratorium is likely to hold until the end of the year. Values are up so much, homes can sell and victims can pocket equity. Any courthouse steps auction deals will get snapped up.
Bubble is going to explode save your money buy in 3 months
It’s $3800Lol I’m doing it wrong... but I like going to Havasu whenever we feel like it so I don’t rent our place in summer.
I’m assuming you meant $1800/month Oct-April for Snowbirds? Maybe more if it has a pool, etc?
But the summer rental income seems about right. The Havasu prices aren’t going to drop with so many people taking their CA money there.
Lol I’m doing it wrong... but I like going to Havasu whenever we feel like it so I don’t rent our place in summer.
I’m assuming you meant $1800/month Oct-April for Snowbirds? Maybe more if it has a pool, etc?
But the summer rental income seems about right. The Havasu prices aren’t going to drop with so many people taking their CA money there.
It’s $3800
Seen the checks
nice pool and the couple loves the place
Crazy
All summer renters are Cops and FF’s so place doesn’t get trashed
I've tossed around that idea with our beach house but we're prop 36'd in. Too much of a gamble.
Damn. I am not charging my snowbirds enough. I need to rethink my four month rental rates. Pool, spa, workout room, internet, entertainment recreation room and a 45’ enclosed RV garage on the premises with an electric garage door.It’s $3800
Seen the checks
nice pool and the couple loves the place
Crazy
All summer renters are Cops and FF’s so place doesn’t get trashed
Damn. I am not charging my snowbirds enough. I need to rethink my four month rental rates. Pool, spa, workout room, internet, entertainment recreation room and a 45’ enclosed RV garage on the premises with an electric garage door.
Yep - 10 year tenants that treat the place like it is their own. I even store their winter goods. Mr lush the landlord. That’s me!We were undercharging our's, but they had been with us for along time. If I were to rent again (never going to happen), the rates would be much higher.
Yep - 10 year tenants that treat the place like it is their own. I even store their winter goods. Mr lush the landlord. That’s me!