WELCOME TO RIVER DAVES PLACE

Pretty good article on the housing craze...

Xtrmwakeboarder

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Anyways... who wants to be my Nextdoor neighbor? They are going through a pretty nasty divorce and the house was listed Tuesday. I really want to buy it but I don’t want to over extend myself. Plus my house is bigger, and i paid 100k+ less. But not a bad deal in today’s market. It’s literally my next door neighbor. You can see my shop in a lot of the pictures. https://www.zillow.com/homedetails/2533-Bronco-Ln-Norco-CA-92860/17790125_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare
Will you teach me Jiu Jitsu if I buy it? Haha
 

BHC Vic

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Will you teach me Jiu Jitsu if I buy it? Haha
It would be awesome to have somebody to roll with. I have mats in the shop just waiting 😝 in all honesty and he wife and I are really hoping to get someone closer to our age with kids. Our neighborhood is a much older neighborhood it’s good but not the greatest for the kids. We have one neighbor across the street that’s our age. Super cool dude and kids same age as mine. Girls though 😬😬 I need to make more time to get our families more involved.
 

copterzach

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I don’t t mess with houses. Don’t have the time or desire.

The ranch market is very strong. I need something to list. Should have 3900 acres up for sale in mid July.


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was thatguy

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Nothing wrong at all.. just don’t bitch in 40 years if/when you can’t retire because of your “crippling” student debt, “unaffordable” rent, and you have only 20k in the bank to retire on from “seeing the world” every year for 30 years.

But hey, that new car and new phone every 18 months was bad ass, amirite??? 😉
Can I bitch in 4 years??
I’ll be long gone before 40 years...
 

Xtrmwakeboarder

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It would be awesome to have somebody to roll with. I have mats in the shop just waiting 😝 in all honesty and he wife and I are really hoping to get someone closer to our age with kids. Our neighborhood is a much older neighborhood it’s good but not the greatest for the kids. We have one neighbor across the street that’s our age. Super cool dude and kids same age as mine. Girls though 😬😬 I need to make more time to get our families more involved.
 

hallett21

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What’s the matter with renting and spending your money on something you like? Living in your mom’s basement is one thing, but seeing the world rather than being house poor doesn’t seem too bad when a dumpster fire in OC is $700k.
Nothing at all. But these friends aren’t saving for anything either. They’re just spending every last dime. Eventually that catches up with you.


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Spellcheck turned black rock into blackstone. It’s black rock investments
 

Boatymcboatface

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It would be awesome to have somebody to roll with. I have mats in the shop just waiting 😝 in all honesty and he wife and I are really hoping to get someone closer to our age with kids. Our neighborhood is a much older neighborhood it’s good but not the greatest for the kids. We have one neighbor across the street that’s our age. Super cool dude and kids same age as mine. Girls though 😬😬 I need to make more time to get our families more involved.
I always keep a gi or shorts and rashguard in my truck! I drive through NORCO a couple days a week!
 

attitude

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Anyways... who wants to be my Nextdoor neighbor? They are going through a pretty nasty divorce and the house was listed Tuesday. I really want to buy it but I don’t want to over extend myself. Plus my house is bigger, and i paid 100k+ less. But not a bad deal in today’s market. It’s literally my next door neighbor. You can see my shop in a lot of the pictures. https://www.zillow.com/homedetails/2533-Bronco-Ln-Norco-CA-92860/17790125_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare
It’s crazy how fast norco prices have exploded in the past year. I’ve been watching the market in both Norco and Canyon Lake for the past 2 years and about a year ago a 3-2 house was 450-500 in both neighborhoods but Norco has gone through the roof and Canyon Lake has stayed the same. Good luck to your neighbors but even in this market I think 725k will need to closer to a full acre.
 

BHC Vic

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It’s crazy how fast norco prices have exploded in the past year. I’ve been watching the market in both Norco and Canyon Lake for the past 2 years and about a year ago a 3-2 house was 450-500 in both neighborhoods but Norco has gone through the roof and Canyon Lake has stayed the same. Good luck to your neighbors but even in this market I think 725k will need to closer to a full acre.
I think they will get 780. House across the street went for over close to . 760-780 seems to be the comp price. This is a few houses up the street. No pool or outbuilding. It’s hard to get permits for outbuildings. That’s where the money is at


This is the one that sold

97E2102A-18DA-4EEF-A4C2-A314B514C00C.png
 

BHC Vic

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I spoke with their agent. It’s the same agent we bought from. She’s expecting a bidding war and to have it sold pretty quick.
 

attitude

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I think they will get 780. House across the street went for over close to . 760-780 seems to be the comp price. This is a few houses up the street. No pool or outbuilding. It’s hard to get permits for outbuildings. That’s where the money is at


This is the one that sold

View attachment 1012730
My neighbors house just got posted yesterday, remodeled 4 bed 3 bath 3 car garage on .44 acres 665k. The lot has access from the front and the back which is nice for RVs as well.
 

BHC Vic

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My neighbors house just got posted yesterday, remodeled 4 bed 3 bath 3 car garage on .44 acres 665k. The lot has access from the front and the back which is nice for RVs as well.
I think a pool and outbuilding pops it right into the 7’s. I don’t really know why but people will pay more to live on my side of the freeway in the bluffs 🤷‍♂️ I would think being closer to the prison is a bad thing but I guess not.
 

attitude

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I think a pool and outbuilding pops it right into the 7’s. I don’t really know why but people will pay more to live on my side of the freeway in the bluffs 🤷‍♂️ I would think being closer to the prison is a bad thing but I guess not.
The bluffs are a nice neighborhood, more of a neighborhood feel than my side of the freeway. Personally I would take an extra bathroom and bedroom over a pool or out building, I would like for my kids to be able to have their own rooms and still have a spare bedroom. Seems like the jump from a 3 to a 4 bedroom has been huge lately though.

The more I look at houses in norco the more I want to take my money and buy a house on the water in Canyon Lake. Prices here don’t make sense anymore.
 

BHC Vic

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The bluffs are a nice neighborhood, more of a neighborhood feel than my side of the freeway. Personally I would take an extra bathroom and bedroom over a pool or out building, I would like for my kids to be able to have their own rooms and still have a spare bedroom. Seems like the jump from a 3 to a 4 bedroom has been huge lately though.

The more I look at houses in norco the more I want to take my money and buy a house on the water in Canyon Lake. Prices here don’t make sense anymore.
We have 4 bedrooms and an office. It’s perfect. We don’t have a spare but now with the trailer in the back that could work. We like canyon lake a lot too and thought about moving there but I’m really bad with rules and people telling me what I can and can’t do. That was the only thing we couldn’t get over. We did an hoa in corona and I couldn’t do it ever again.
 

attitude

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We have 4 bedrooms and an office. It’s perfect. We like canyon lake a lot too and thought about moving there but I’m really bad with rules and people telling me what I can and can’t do. That was the only thing we couldn’t get over. We did an hoa in corona and I couldn’t do it ever again.
My mom is an HOA manager so I hear all the horror stories and would never want to live in one. The HOA in canyon lake is not like any HOA I’ve seen, people have trailers and boats stuffed anywhere they can fit on their property, cars always parked in the street, some houses even have dead grass. I’m not sure what that HOA enforces other than no motorcycles lol.
 

BHC Vic

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My mom is an HOA manager so I hear all the horror stories and would never want to live in one. The HOA in canyon lake is not like any HOA I’ve seen, people have trailers and boats stuffed anywhere they can fit on their property, cars always parked in the street, some houses even have dead grass. I’m not sure what that HOA enforces other than no motorcycles lol.
Flowers and exterior painting from my buddies horror story
 

attitude

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Flowers and exterior painting from my buddies horror story
Someone was probably pissed off he wouldn’t participate in the swinging community there lol. I would have just parked my RV sideways in front of my house, problem solved.
 

spectra3279

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I think they will get 780. House across the street went for over close to . 760-780 seems to be the comp price. This is a few houses up the street. No pool or outbuilding. It’s hard to get permits for outbuildings. That’s where the money is at


This is the one that sold

View attachment 1012730
Hahababa. That same house here would be about 250k.

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Singleton

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I was asked tonight by someone knocking on my door at 730pm, if I would sell for 1.2.
Told them, make it 1.6 cash, buyer pays all fees and it yours July 1.
Hoping they don’t come back tomorrow. Have no idea where we would move.
Well they came back this morning while I was working in the garage. 1.2 and all fees.
Might regret this, but told them; ’I love where I live and have no reason to sell, so thanks, but no thanks‘.
 

Joker

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Well they came back this morning while I was working in the garage. 1.2 and all fees.
Might regret this, but told them; ’I love where I live and have no reason to sell, so thanks, but no thanks‘.
We met with a realtor last week who wants to list ours starting at 2mil. Bought it for 215 in 95. The last piece of the puzzle is selling the business and I’ve got someone already looking.
The novelty of living downtown wore off years ago.
 

Your ad here

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It’s not a problem. You have the largest subset of the population that is coming of age that can’t even stand to own a cellphone for more than 24 months.

Few millennials want to own anything, it gives them anxiety to be “tied down”.

Give ‘me want....a monthly payment.
Born in 89 here. Have a $300 phone that's more than 2 years old and have a mortgage. I got more anxiety renting than having a mortgage. With a mortgage I don't have to worry about being evicted unless I put myself in that position. Also it's my house rules as well and not some landlords.
 

RodnJen

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The problem isn’t Blackstone or Blackrock, it is accommodative Fed policy. Interest rates are too low.
 

ONE-A-DAY

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Our last 4 havasu houses, bought / sold prices:

360k / 600k
120k / 400k
785k / 1.5 mil
House we are in now paid 799k it would list for 1.3 ish

Not sure hoe much more it will keep going on but the last few years in Havasu have been good to us
 

CarolynandBob

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The problem isn’t Blackstone or Blackrock, it is accommodative Fed policy. Interest rates are too low.
Wonder how this play into it?

In August 2020, BlackRock received approval from the China Securities Regulatory Commission to set up a mutual fund business in the country. This makes BlackRock the first global asset manager to get consent from China to start operations.
 

RodnJen

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Wonder how this play into it?

In August 2020, BlackRock received approval from the China Securities Regulatory Commission to set up a mutual fund business in the country. This makes BlackRock the first global asset manager to get consent from China to start operations.
Sounds like they will be investing in China-based assets.

"Our view at BlackRock has always been that we need to be immersed in local markets around the world, so we can respond to the unique needs and objectives of our clients in their home markets," said BlackRock Head of China Tony Tang.”

 

Looking Glass

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Our last 4 havasu houses, bought / sold prices:

360k / 600k
120k / 400k
785k / 1.5 mil
House we are in now paid 799k it would list for 1.3 ish

Not sure hoe much more it will keep going on but the last few years in Havasu have been good to us

AND!!, you are running around trying to find a Ride to The Airport in Vegas!!🤔
 

bldrinker

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What’s the matter with renting and spending your money on something you like? Living in your mom’s basement is one thing, but seeing the world rather than being house poor doesn’t seem too bad when a dumpster fire in OC is $700k.
When you retire where do you live?
You keep renting with increases every few years? While on a fixed income?
That will work out well.

I recently had this discussion with a friend who rents in riverside for $300 more per month than my 20yr mortgage.
He likes not being liable for any repairs or issues and likes the idea of renting.

I asked him where he will live when he retires he said probably this same house. I said so you rent will go up every so often meanwhile your retirement stays the same. He said yes so?

I told him if he bought he would have zero outgoing when he retired. He looked at me confused and said he never thought about that.
Crazy...
 

Done-it-again

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The only real winners in this crazyness are the realtors, I hope they are socking some away for the rainy days to come!
Wouldn’t be paying 6%, no need for all the high class flyers etc. just list it on MLS and boom, done. That should be a 3% listing.
 

Done-it-again

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Our last 4 havasu houses, bought / sold prices:

360k / 600k
120k / 400k
785k / 1.5 mil
House we are in now paid 799k it would list for 1.3 ish

Not sure hoe much more it will keep going on but the last few years in Havasu have been good to us
but the house in the hills didn’t include the pool and pool house that you added correct? Need to add that in on the purchase price.

still made out damn good though.
 

77charger

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My mom is an HOA manager so I hear all the horror stories and would never want to live in one. The HOA in canyon lake is not like any HOA I’ve seen, people have trailers and boats stuffed anywhere they can fit on their property, cars always parked in the street, some houses even have dead grass. I’m not sure what that HOA enforces other than no motorcycles lol.
I use to work in there here and there yeh see all the boats and trailers golf carts etc but then think the NO mototcycles to me thats a turn off!!
 

Xtrmwakeboarder

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When you retire where do you live?
You keep renting with increases every few years? While on a fixed income?
That will work out well.

I recently had this discussion with a friend who rents in riverside for $300 more per month than my 20yr mortgage.
He likes not being liable for any repairs or issues and likes the idea of renting.

I asked him where he will live when he retires he said probably this same house. I said so you rent will go up every so often meanwhile your retirement stays the same. He said yes so?

I told him if he bought he would have zero outgoing when he retired. He looked at me confused and said he never thought about that.
Crazy...
So Cal perspective here, but you act like the average person can actually afford their house, pays their house down from years 30-60, and rides off into the sunset for retirement. That’s not what I see. From what I’ve seen, people lever themselves to the hilt, use the house as a piggy bank for depreciating assets, and end up paying mortgages until they die. Rents are far lower than the mortgages on the houses over here. Remember, 2 bed/ 2 bath townhouses are $760k where I live. You think an average family is going to be able pull that off without being house poor? Plain and simple, it’s getting harder and harder for the younger generation to own a home, so I understand why they take another path. Look at the multiples of housing prices vs. income over the last 20 years, It’s insane. Not everyone is going to get a house in their lifetime and that’s OK. Some don’t deserve it. Nobody saves these days, nobody. Doesn’t matter if you’re paying down a house or not. They’re all working until they die.
 

bldrinker

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So Cal perspective here, but you act like the average person can actually afford their house, pays their house down from years 30-60, and rides off into the sunset for retirement. That’s not what I see. From what I’ve seen, people lever themselves to the hilt, use the house as a piggy bank for depreciating assets, and end up paying mortgages until they die. Rents are far lower than the mortgages on the houses over here. Remember, 2 bed/ 2 bath townhouses are $760k where I live. You think an average family is going to be able pull that off without being house poor? Plain and simple, it’s getting harder and harder for the younger generation to own a home, so I understand why they take another path. Look at the multiples of housing prices vs. income over the last 20 years, It’s insane. Not everyone is going to get a house in their lifetime and that’s OK. Some don’t deserve it. Nobody saves these days, nobody. Doesn’t matter if you’re paying down a house or not. They’re all working until they die.
The answer to this is simple.
Live where you can afford.
Live within your means.

if you make 100k a year don’t live where a town house is 700k.

I tried keeping up with the Jones when I as younger now I just sit back and laugh at the Jones. In debt up to their eyeballs.
 

Xtrmwakeboarder

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The answer to this is simple.
Live where you can afford.
Live within your means.

if you make 100k a year don’t live where a town house is 700k.

I tried keeping up with the Jones when I as younger now I just sit back and laugh at the Jones. In debt up to their eyeballs.
1000% agree. Sometimes that means not loading up on a mortgage.
 

petie6464

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So Cal perspective here, but you act like the average person can actually afford their house, pays their house down from years 30-60, and rides off into the sunset for retirement. That’s not what I see. From what I’ve seen, people lever themselves to the hilt, use the house as a piggy bank for depreciating assets, and end up paying mortgages until they die. Rents are far lower than the mortgages on the houses over here. Remember, 2 bed/ 2 bath townhouses are $760k where I live. You think an average family is going to be able pull that off without being house poor? Plain and simple, it’s getting harder and harder for the younger generation to own a home, so I understand why they take another path. Look at the multiples of housing prices vs. income over the last 20 years, It’s insane. Not everyone is going to get a house in their lifetime and that’s OK. Some don’t deserve it. Nobody saves these days, nobody. Doesn’t matter if you’re paying down a house or not. They’re all working until they die.
"So Cal perspective"

You nailed this one!
 

LargeOrangeFont

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So Cal perspective here, but you act like the average person can actually afford their house, pays their house down from years 30-60, and rides off into the sunset for retirement. That’s not what I see. From what I’ve seen, people lever themselves to the hilt, use the house as a piggy bank for depreciating assets, and end up paying mortgages until they die. Rents are far lower than the mortgages on the houses over here. Remember, 2 bed/ 2 bath townhouses are $760k where I live. You think an average family is going to be able pull that off without being house poor? Plain and simple, it’s getting harder and harder for the younger generation to own a home, so I understand why they take another path. Look at the multiples of housing prices vs. income over the last 20 years, It’s insane. Not everyone is going to get a house in their lifetime and that’s OK. Some don’t deserve it. Nobody saves these days, nobody. Doesn’t matter if you’re paying down a house or not. They’re all working until they die.
Not everyone can afford to live in the area they desire. The sooner people realize that, the better off they will be. Not everyone is leveraged to the hilt, but the same people I see complaining they can’t afford a house sure go on a lot of vacations and lease expensive cars.

Rents are always a little lower than mortgages, that is the point. If rents were higher, people would just buy a house :)

You are right, yours is a So Cal perspective, and the folks that realize they don’t want to play the stupid game and never win are leaving. The ones that stay are the ones you hear complaining.

Being dumb with your money for your entire working career does not entitle you to anything. Being house poor in CA is also a choice. Life is full of choices and consequences to those choices.
 

BHC Vic

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Not everyone can afford to live in the area they desire. Not everyone is leveraged to the hilt.

Rents are always a little lower than mortgages, that is the point. If rents were higher, people would buy a house :)

You are right, yours is a So Cal perspective, and the folks that realize they don’t want to play the stupid game and never win are leaving.

Being dumb with your money does not entitle you to anything.
This is the exact reason we bought our first house. Rent on a 2 bedroom apartment went from 1600 to 1800 in placentia. That was the same monthly mortgage on my first home in Corona. 200k house w 3% down and the same monthly, it was a no brainer. Timing was a big factor for it too though. I bought in 2010 so we got lucky.
 

BHC Vic

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My buddy that just bought a few havasu properties rents out his house in Carson for more than his mortgage in havasu and riverside combined 😬
 

BHC Vic

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To someone’s point though he used the Carson house as a piggy bank took all the money out and bought in riverside and havasu so there’s that
 

bldrinker

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The problem is youth today want what they can’t afford and are unwilling to do what it takes to earn it.

If you say it’s impossible to be successful you are wrong.
If you say you can’t you won’t.

Put your fucking head down and keep paddling. Sooner or later you will get there!
 

bldrinker

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Not everyone can afford to live in the area they desire. The sooner people realize that, the better off they will be. Not everyone is leveraged to the hilt, but the same people I see complaining they can’t afford a house sure go on a lot of vacations and lease expensive cars.

Rents are always a little lower than mortgages, that is the point. If rents were higher, people would just buy a house :)

You are right, yours is a So Cal perspective, and the folks that realize they don’t want to play the stupid game and never win are leaving. The ones that stay are the ones you hear complaining.

Being dumb with your money for your entire working career does not entitle you to anything. Being house poor in CA is also a choice. Life is full of choices and consequences to those choices.
Lol we have a family member that thinks they are hot shit because they go to Hawaii every year.

but yet have a house that they owe 30yrs on and they have been in it for like 25yrs. And the amount owed is triple what they payed.

cool story. We are over here game planning on how to buy a second house lol
 
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