All of us who want to upsize are in such a pickle, aren't we?
If i were you, i’d wait for the lot you really like and just let the market do what it does. If it plays into your hand, that’s great. If not, there is nothing you can do.
Yeah, that's what we decided to do. We can live with not getting a Cielo home if the market doesn't let us, but I don't think we can live with getting a really small lot and then finding out we could have got one of the lots we wanted for roughly the same price.
I applaud you for so openly sharing your home buying journey here. I hope you and your wife get the home you guys want. That area of PS is my one of my favorites. It's just too bad it's so far from everything....
I know it's 2 years. Danimal and I closed escrow about the same time last year, May for me. That's why I said he would have to wait another year or so to avoid the capital gain tax.
Even though PS is quite inconvenient in terms of shopping, it's actually very convenient for work. It's a bit more than 10 minute drive for me (Irvine and Alton, that's it). As for my wife, she could just hop on 241, but she chooses to take Portola Pkwy and then Jamboree and get on 241 from Santiago. Saves $3 per trip on tolls.yes, i need one more year for avoiding gain tax. Right now, too many unknown with OH4. I know it will be expensive. If IP sets the price out of my budget, I dont have to upgrade. My current home is more than enough for us.I know it's 2 years. Danimal and I closed escrow about the same time last year, May for me. That's why I said he would have to wait another year or so to avoid the capital gain tax.
We're only interested in moving up to Cielo. Not interested in resales and definitely not interested in moving out of PS, even though it's far from everything.
Unless home prices suddenly go crazy, we should be able to get the lots we want. And the timing works out well too because by the time we close escrow and sell the Bluffs home, it would have been more than 2 years. If we were to buy resales, then we would have to wait until next May to buy.
Well another way to look at, if your company's stock price keeps going up (+160% over the past 5 years and near all time high now), the increased value of your RSUs will probably offset any price increase in Cielo and Fed may start cutting rate starting next year which will also help.I know it's 2 years. Danimal and I closed escrow about the same time last year, May for me. That's why I said he would have to wait another year or so to avoid the capital gain tax.
We're only interested in moving up to Cielo. Not interested in resales and definitely not interested in moving out of PS, even though it's far from everything.
Unless home prices suddenly go crazy, we should be able to get the lots we want. And the timing works out well too because by the time we close escrow and sell the Bluffs home, it would have been more than 2 years. If we were to buy resales, then we would have to wait until next May to buy.
I mean, the only reason I was able to buy Bluffs at all was thanks to the RSUs. Unfortunately, it's been stuck at that price for a while.
I know housing is a local thing, but you've got over 3 million people in the OC and very limited land left. Tay Mo raised their prices here again for the fourth time since the downturn. They have sold houses in my development like hotcakes since December and have only four spec homes left, even raising prices and we have plenty of land and lots of developments. Tay Mo never slowed down here. Every week I got an email for another development coming (not just my little area but metro Phoenix) and this is a supposedly, if you read doom and gloom articles a horrid area for housing. The sales person told me flat out they cannot pull back because it will lead to a huge shortage and buyers will eventually step up or buy smaller/farther and she was absolutely right. Sure..... they did offer incentives but they have been pulled back and prices have been raised. Don't believe articles that say prices are down and going lower here and extrapolate. I watch the builders. Individual sales can skew things and the Uhauls are still coming.I know it's 2 years. Danimal and I closed escrow about the same time last year, May for me. That's why I said he would have to wait another year or so to avoid the capital gain tax.
We're only interested in moving up to Cielo. Not interested in resales and definitely not interested in moving out of PS, even though it's far from everything.
Unless home prices suddenly go crazy, we should be able to get the lots we want. And the timing works out well too because by the time we close escrow and sell the Bluffs home, it would have been more than 2 years. If we were to buy resales, then we would have to wait until next May to buy.
Only way to improve supply is to build multi-unit until the rental market for multi-unit collapses.
I've stated before that rising interest rates don't affect current owners who refinanced at 2%. Or the ones who paid cash. But there's some idiot who kept talking about stress because equity is falling. Who cares about equity for the house that you live in that you don't plan to sell until 5-10 years later?
