Who's buying now?

NEW -> Contingent Buyer Assistance Program
[quote author="hbguybill" date=1227457026]My broker told me 18 months was plenty of time. My ex broker that is. My 350K would now be about 200K.</blockquote>
That's probably because he doesn't get any commission if you put it in a CD. :coolsmirk:
 
[quote author="hbguybill" date=1227457026]My broker told me 18 months was plenty of time. My ex broker that is. My 350K would now be about 200K.</blockquote>


What do you do when you are your own broker? Can you fire yourself?



<stuck, but not bitter. Much.>
 
I am buying a property right now with my sister in Palmdale. The payment will be $9OO which includes tax and hoa. We are going to rent it for 1300. My part of the down payment was $13K. My CD was only paying like $60 a month so this makes sense to me. In the boom it went for $300K and I am paying $130K. I am still waiting for OC to drop to something reasonable before I buy here.
 
good luck with palmdale.



will you go out and do repairs and renting yourself, or are you hiring a property manager?



do you think that the rents will stay at that level in the future, or drop some?
 
I will have a property manager. I had one out there in the boom and sold it in 06. It more then doubled when sold. Never had a problem with the old one. Some areas of Palmdale are ok. You have to know the area to buy in Palmdale.
 
[quote author="captain america" date=1228024131]Ironically, Irvine is still largely unaffordable.



Over one million for a new detached in Portola Springs?



C'mon......we'll probably buy elsewhere.</blockquote>


Many people I've met lately (parents with young kids) have said they are leaving Irvine for Ladera Ranch. They usually cite cost as the motivating factor for leaving. They choose Ladera for its family-oriented atmosphere and homes with larger, more kid-friendly lots. It has become so common of a plan of action lately that it is predictable.
 
[quote author="SoCal78" date=1228028488][quote author="captain america" date=1228024131]Ironically, Irvine is still largely unaffordable.



Over one million for a new detached in Portola Springs?



C'mon......we'll probably buy elsewhere.</blockquote>


Many people I've met lately (parents with young kids) have said they are leaving Irvine for Ladera Ranch. They usually site cost as the motivating factor for leaving. They choose Ladera for its family-oriented atmosphere and homes with larger, more kid-friendly lots. It has become so common of a plan of action lately that it is predictable.</blockquote>




ladera ranch? come on, have they seen the traffic in the morning getting out?
 
[quote author="frank69m" date=1228036134][quote author="SoCal78" date=1228028488][quote author="captain america" date=1228024131]Ironically, Irvine is still largely unaffordable.



Over one million for a new detached in Portola Springs?



C'mon......we'll probably buy elsewhere.</blockquote>


Many people I've met lately (parents with young kids) have said they are leaving Irvine for Ladera Ranch. They usually site cost as the motivating factor for leaving. They choose Ladera for its family-oriented atmosphere and homes with larger, more kid-friendly lots. It has become so common of a plan of action lately that it is predictable.</blockquote>




ladera ranch? come on, have they seen the traffic in the morning getting out?</blockquote>




easy way out is head down ortega hwy to 5 then 73 down to newport(at least from covenant hills). Best to avoid crown valley.
 
[quote author="ipoplaya" date=1227255603][quote author="WestparkRenter" date=1227252994]Prices have been falling, sorry I have been memorizing Irvine prices for the last 5 years, I should know. It's the Schiller index that Ipoplaya calculated that are not down.</blockquote>


I wish my math was coming out the same as your perception WPR...</blockquote>


According to Redfin, price per square foot is down quite a bit over the last year. Is this because your numbers focus primarily on the high end?



Redfin house ppsf: Oct 07 - $400ish Oct 08 - $327 (down ~18%)

Redfin condo ppsf: Oct 07 - $400ish Oct 08 - $346 (down ~13%)



<a href="http://www.redfin.com/city/9361/CA/Irvine">Redfin - Irvine</a>
 
[quote author="StudLee" date=1228052479][quote author="ipoplaya" date=1227255603][quote author="WestparkRenter" date=1227252994]Prices have been falling, sorry I have been memorizing Irvine prices for the last 5 years, I should know. It's the Schiller index that Ipoplaya calculated that are not down.</blockquote>


I wish my math was coming out the same as your perception WPR...</blockquote>


According to Redfin, price per square foot is down quite a bit over the last year. Is this because your numbers focus primarily on the high end?



Redfin house ppsf: Oct 07 - $400ish Oct 08 - $327 (down ~18%)

Redfin condo ppsf: Oct 07 - $400ish Oct 08 - $346 (down ~13%)



<a href="http://www.redfin.com/city/9361/CA/Irvine">Redfin - Irvine</a></blockquote>
aka - Irvine has a long, long way to go from here.
 
[quote author="socalmd" date=1228049029][quote author="frank69m" date=1228036134][quote author="SoCal78" date=1228028488][quote author="captain america" date=1228024131]Ironically, Irvine is still largely unaffordable.



Over one million for a new detached in Portola Springs?



C'mon......we'll probably buy elsewhere.</blockquote>


Many people I've met lately (parents with young kids) have said they are leaving Irvine for Ladera Ranch. They usually site cost as the motivating factor for leaving. They choose Ladera for its family-oriented atmosphere and homes with larger, more kid-friendly lots. It has become so common of a plan of action lately that it is predictable.</blockquote>




ladera ranch? come on, have they seen the traffic in the morning getting out?</blockquote>




easy way out is head down ortega hwy to 5 then 73 down to newport(at least from covenant hills). Best to avoid crown valley.</blockquote>


Really? It takes me a long time to get on the 5 from ortega on a saturday afternoon, I can only imagine the backup at 8am!
 
[quote author="StudLee" date=1228052479][quote author="ipoplaya" date=1227255603][quote author="WestparkRenter" date=1227252994]Prices have been falling, sorry I have been memorizing Irvine prices for the last 5 years, I should know. It's the Schiller index that Ipoplaya calculated that are not down.</blockquote>


I wish my math was coming out the same as your perception WPR...</blockquote>


According to Redfin, price per square foot is down quite a bit over the last year. Is this because your numbers focus primarily on the high end?



Redfin house ppsf: Oct 07 - $400ish Oct 08 - $327 (down ~18%)

Redfin condo ppsf: Oct 07 - $400ish Oct 08 - $346 (down ~13%)



<a href="http://www.redfin.com/city/9361/CA/Irvine">Redfin - Irvine</a></blockquote>


Most of the declines for Irvine over the past twelve months occurred between Nov 2007 and Feb 2008. Hasn't fallen too much further since then, although November closing prices are showing a 2%+ decline for the month.



I no longer focus on the high-end. I am capturing pretty much everything 1200sf and above...
 
[quote author="freedomCM" date=1228058676][quote author="socalmd" date=1228049029][quote author="frank69m" date=1228036134][quote author="SoCal78" date=1228028488][quote author="captain america" date=1228024131]Ironically, Irvine is still largely unaffordable.



Over one million for a new detached in Portola Springs?



C'mon......we'll probably buy elsewhere.</blockquote>


Many people I've met lately (parents with young kids) have said they are leaving Irvine for Ladera Ranch. They usually site cost as the motivating factor for leaving. They choose Ladera for its family-oriented atmosphere and homes with larger, more kid-friendly lots. It has become so common of a plan of action lately that it is predictable.</blockquote>




ladera ranch? come on, have they seen the traffic in the morning getting out?</blockquote>




easy way out is head down ortega hwy to 5 then 73 down to newport(at least from covenant hills). Best to avoid crown valley.</blockquote>


Really? It takes me a long time to get on the 5 from ortega on a saturday afternoon, I can only imagine the backup at 8am!</blockquote>




I've tried it 3 or 4 times and never had much traffic, but crown valley was a nightmare
 
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