Real Time* House Buying Thread for San Diego County
invite response
2012 Dec 11, 1:30am 5,508 views 14 comments
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I'm in San Diego too and may be looking in the spring. I'm putting it off as long as possible because I have heard many similar stories to yours. What neighborhoods are you looking in?
NuttBoxer
2012 Dec 11, 2:16am
The loan we have limits us to County, so we've been focused mostly on Imperial Beach and Lemon Grove.
We went through the pre-approval just to see what kind of numbers we would get, and the results led us to believe we could get more house for less than our current rent. After looking though, it seems it will be a choice of either buying something nicer than our current rental, or cheaper than our current rental, but not both.
Someone is squatting in a home that could be yours. Oh and you can rthank them for your ever rising FHA premiums. Good luck
curious2
2012 Dec 11, 3:47am
Someone is squatting in a home that could be yours.
...or is propped up by Bubbles Ben and his fellow lemon socialists at the Fed and Fannie and Freddie. Every time politicians talk about "helping homeowners" they mean using the government to harm renters and help bankers. If we had a level playing field, people who want to buy would be able to.
NuttBoxer
2012 Dec 17, 7:46am
As promised an almost real time update(tape delay of two days...)
We decided last week we weren't that interested in getting into a "hot" market, and tightened up our criteria for what is acceptable to view. We saw one place in a less desirable area that had a pool(drawing point for me). It was a SS, and we knew we were not interested when walking around the house we all got touches of vertigo from the sinking foundation.
Next place was again not our ideal area, but a REO that had been on market for 2 months and was down from almost $300k to $250k. Fannie Mae home so they had re-carpeted and painted(our tax dollars hard at work).
It was by far the best deal we had seen since we started looking, and the only REO or SS that wasn't a dump.
Third place was a flip that looked good from pictures, but lacked a dining room(or even the possibility of one as we found out). SF was listed as same as REO, but the difference had to be at least 100sf. absolutely nowhere to put a table that wasn't blocking something, so out for my family of 4.
We called our realtor after talking and decided to put an offer for $225k on the REO. This was Saturday afternoon.
We got the paperwork Saturday night, but already had plans that didn't involve work.
Sunday I felt sick much of the day, so didn't get to the paperwork till Sunday night. My wife didn't sign till Monday morning on the way to work. By the time I had it scanned and ready to send, got a message from Redfin that property had gone into escrow.
My wife had some second thoughts because the driveway was too steep for most cars, and she wasn't into the house on a hill layout. Personally I liked it, but I'm not sure we should be buying at all(fear of lifetime debt and all).
So here we are, closer than ever to putting in an offer, but still probably months away from buying anything.
Interesting side note:
We also wanted to see another house in a more desirable area, but our realtor hadn't heard back from the selling agent, and when he contacted the owners(SS) they insisted they had already accepted and offer. Our agent and me agreed they were probably trying to keep offers away while the scrambled to stay in the house.
Sharingmyintelligencewiththedumbasses
2016 Aug 10, 11:31am
Next place was again not our ideal area, but a REO that had been on market for 2 months and was down from almost $300k to $250k. Fannie Mae home so they had re-carpeted and painted(our tax dollars hard at work).
It was by far the best deal we had seen since we started looking, and the only REO or SS that wasn't a dump.
Ok, dumbass, since you claimed this didn't happen...
Had you bought THIS HOME, at $250K, 3 years ago, even with a low downpayment FHA, you could refinanced it to sub 4% 30 year fixed, and have a mortgage payment of probably $1200 a month. zero chance in hell rent for something similar isn't much higher, and you'd be stting on probably $300K in equity in it, today.
You are a class A moron, trying to rationalize one of the worst financial decisions in history.
NuttBoxer
2016 Aug 10, 12:02pm
I wasn't very good at closing this thread out, which has led to idiocy like the above looking legitimate.
We did attempt to put in an offer, but someone beat us to it. With the grade on the land, probably best we didn't. Wasn't much backyard, our current yard at our rental is huge, and great for entertaining. Also the driveway would have required added a curb filler thing to allow us to even pull in our car, the day we went, we had to park on the street. Imagine the moving nightmare that would have been.
Anyway, shortly after this we decided the market was too hot, and pulled out of buying. I personally won't commit to that much debt without a reasonable amount of time to view the house, and make an offer.
Strategist
2016 Aug 10, 7:13pm
I wasn't very good at closing this thread out, which has led to idiocy like the above looking legitimate.
We did attempt to put in an offer, but someone beat us to it. With the grade on the land, probably best we didn't. Wasn't much backyard, our current yard at our rental is huge, and great for entertaining. Also the driveway would have required added a curb filler thing to allow us to even pull in our car, the day we went, we had to park on the street. Imagine the moving nightmare that would have been.
Sounds like "sour grapes" to me.
You lost $300,000 in appreciation.
Your payments would have been below the rent you are paying right now.
NuttBoxer
2016 Aug 11, 6:41am
Sounds like "sour grapes" to me.
How's is it sourgrapes when I never had an accepted offer, never entered escrow? You debt owners sure like to spend a lot of energy hypothesizing all the might-have-beens in life. Maybe next we can talk about my sour grapes for never winning state, even though I didnt played football.
Sharingmyintelligencewiththedumbasses
2016 Aug 11, 10:52am
How's is it sourgrapes when I never had an accepted offer, never entered escrow?
100,000s of people managed to buy homes in san diego county from 2010-2013. You didn't. Why is that?
Prices have gone up 50 - 100% since then. In your, lower priced buying, it is more likely 100%. So, you literally missed the chance to make $150-$250 THOUSAND dollars. Since you qualified for a section 8 voucher, your personal income is likely 50K or so, maybe less, and supporting a family...
You would be in a position today, to sell the home, keep all the income tax free, move somewhere else to live with a lower cost of living, buy a seriously beautiful home for cash.
you missed out on a life changing opportunity, and are still trying to rationalize it as a good choice. SAD!
Strategist
2016 Aug 11, 11:33am
Sounds like "sour grapes" to me.
How's is it sourgrapes when I never had an accepted offer, never entered escrow? You debt owners sure like to spend a lot of energy hypothesizing all the might-have-beens in life. Maybe next we can talk about my sour grapes for never winning state, even though I didnt played football.
If you could go back in time, i'm sure you would want to buy.
NuttBoxer
2016 Aug 11, 12:55pm
If you could go back in time, i'm sure you would want to buy.
How bout instead we just look back in time. I did, but not without a reasonable amount of time to think about taking on such a huge debt. Does it sound like I would change anything now? In a hypothetical like that, I'd see a lot more financial gain throwing down a huge bet on the 2010 SB winner.
NuttBoxer
2016 Aug 11, 1:03pm
100,000s of people managed to buy homes in san diego county from 2010-2013. You didn't. Why is that?
Rhetorical question already answered in this thread. How much do you like reading drivel that oozes from your brain?
Since you qualified for a section 8 voucher, your personal income is likely 50K or so, maybe less, and supporting a family...
Not in Section 8 at this time(again if you read the thread...). Also, was only in it briefly after marriage, as my wife was the one who qualified, being a single mother.
Man, you've made a whole pile of assumptions based on a situation you hardly knew or understood. I bet agents loved you when they needed to close a deal quick.
Sharingmyintelligencewiththedumbasses
2016 Aug 11, 1:31pm
Rhetorical question already answered in this thread. How much do you like reading drivel that oozes from your brain?
You didn't have the balls to buy, even with far sub rental mortgage payment, and you lost out on a tremendous opportunity. you posted every excuse in the world, and the future proved you 100% wrong. As wrong as wrong can be, and you are simply too stupid to know it.
you are a loser, and a pussy. sad.
If you were smarter, you'd be thinking, "wow, I really fucked up! what was wrong with my thinking, why didn't I buy then? How can I learn from this and do better in the future?"
But, you don't seem to have the ability to learn, even from glaring mistakes!
I don't own a cellphone, or tablet, so my updates will stretch the real time definition a bit. We've been looking at houses since October. Our pre-approval is at the lower end, and requires the property to be FHA, so we've seen mostly short sale dumps, or bank owned dumps. There have been a few houses owned by people who aren't underwater, but the prices have not matched up with the value of the property(something to do with a bubble...).
We started looking on our own, but agents don't return calls very quickly, and seem to think only investors should buy housing right now. A friend who does real estate investments turned us on to a pretty decent agent(as agents go), who has never balked at any property we've sent him, even shorts. His communication has been a bit lacking lately though.
In our two months of looking we have not put in a single offer, either because we didn't see anything we liked, or what we like was snatched into escrow before we could blink. We're not that picky, but we'd like a second bathroom(at least a half), and a dining room space, and a bedroom that fits our furniture. Also a yard for our girls, and dogs, and some sort of outdoor storage(garage or shed). We'll continue looking through February since this is the low season typically, but if we don't find something before spring, that's it.
We only look on the weekend, so I'll update again on Sunday if we see anything.
#housing