lunarpark's comments

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  lunarpark   ignore (0)   2007 Nov 9, 4:17pm     ↓ dislike (1)   quote   flag      

Congrats SQT!!!

  lunarpark   ignore (0)   2007 Dec 1, 3:41pm     ↓ dislike (0)   quote   flag      

We plan to move out of the Bay Area in the next two years (regardless of the housing situation). I'd like to purchase a 4-plex or two in the Midwest, where we will be relocating. Can anyone offer advice, reading recommendations?

Thanks

  lunarpark   ignore (0)   2008 Jan 17, 3:11am     ↓ dislike (0)   quote   flag      

http://www.dqnews.com/RRBay0108.shtm

Bay Area home sales drag along bottom, median price back to 2005 level

  lunarpark   ignore (0)   2008 Jan 17, 7:58am     ↓ dislike (0)   quote   flag      

I just renewed my lease today - $50 increase (private owner).

  lunarpark   ignore (0)   2008 Jan 17, 8:22am     ↓ dislike (0)   quote   flag      

My friend just started working at Second Life. I went to their holiday party last weekend (open bar, how could I say no?).

  lunarpark   ignore (0)   2008 Jan 17, 8:25am     ↓ dislike (0)   quote   flag      

LOL, it was real. But their meetings are in virtual reality.

  lunarpark   ignore (0)   2008 Jan 17, 8:35am     ↓ dislike (1)   quote   flag      

Randy, interesting. My friend says they are hiring like crazy right now.

I have had negative feelings about Second Life ever since I read about your experience.

  lunarpark   ignore (0)   2008 Feb 7, 12:32am     ↓ dislike (0)   quote   flag      

http://www.mercurynews.com/ci_8193840

"I've obviously had to eat my 'soft landing' words," said Leslie Appleton-Young.

  lunarpark   ignore (0)   2008 Feb 14, 11:54pm     ↓ dislike (0)   quote   flag      

http://www.mercurynews.com/ci_8269028

From bad to 'worst' for Santa Clara County home sales
NUMBER OF DEALS AT 20-YEAR LOW; MEDIAN PRICE FALLS FROM JAN. '07

  lunarpark   ignore (0)   2008 Mar 27, 11:33pm     ↓ dislike (0)   quote   flag      

http://www.mercurynews.com/ci_8726073

Scant loan relief in valley
NEW MORTGAGE LIMITS, NOT-MUCH-LOWER RATES

  lunarpark   ignore (0)   2008 Apr 5, 12:54am     ↓ dislike (0)   quote   flag      

http://www.mercurynews.com/ci_8821074

One in five homes put on the market in Santa Clara County recently is an attempted "short sale"

  lunarpark   ignore (0)   2008 May 15, 11:49pm     ↓ dislike (0)   quote   flag      

I wouldn't put too much faith in what the sfgate publishes. This was published just a few days before their current article on the SF economy:

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/05/13/BUL810KU54.DTL&hw=commercial&sn=046&sc=178

  lunarpark   ignore (0)   2008 May 21, 8:47am     ↓ dislike (0)   quote   flag      

"So what does everyone think of the sudden increase in sales? Dead cat bounce?"

I went to an open house in the Rose Garden area (San Jose) on Saturday. The price was pretty good for the location. The house had just been listed on 5/10 and it sold on Monday.

On the flipside, I visited the Axis project in downtown San Jose. Tons of traffic, but the agent told me they are only 25% sold out and they have been open since November(?). We also visited a condo in San Carlos - the agent said it has been very dead.

Once again, I think it comes down to price and location. And the condo market seems pretty weak. Perhaps people are holding out for a better deal in the hopes of buying a house. Frankly the downtown SJ condos seem incredibly overpriced. Who wants to pay $700k for a 2 bedroom on the 10th floor? We're not talking about SF, this is freaking San Jose.

We are trying to find a "decent" house in the Rose Garden for $750k or less. We were hoping to buy at the end of the year. So far we haven't found anything to our liking in that price range. So we continue to wait. We may have to settle for Garden/Alameda instead. I will give it 18 months max and then probably get off the fence.

  lunarpark   ignore (0)   2008 May 21, 11:52pm     ↓ dislike (0)   quote   flag      

Duke, we don't have massive equity. We have 20% down plus 6-8 months living expenses socked away. Believe me, I am not going to give it up easily. It's taken 5 years to save our way to this point. We are really just looking - getting an idea of neighborhoods and such. I was really hoping that we would find a deal at the end of the year when our lease is up. Even if we do find the right house at the right price, I know I will have a hard time pulling the trigger. My rent is low, VERY LOW. My landlord is fantastic.

Also, my husband and I haven't found one single house we agree on - it could take two years to come to an agreement.

I have my heart set on the Rose Garden area of San Jose. There is no school district premium so this area would not be considered the fortress :)

I do get tempted at times though, I admit I do.

  lunarpark   ignore (0)   2008 May 22, 12:31am     ↓ dislike (0)   quote   flag      

LOL, I just read that.

Yay!

  lunarpark   ignore (0)   2008 Jun 1, 5:50am     ↓ dislike (0)   quote   flag      

"Unlike many people here who think job recession is necessary for prices to go down, I have argued that higher interest rates would be enough too."

I totally agree with this.

  lunarpark   ignore (0)   2008 Jun 20, 2:41pm     ↓ dislike (0)   quote   flag      

"BTW, does anyone know if year 2000 Audi A8 is an okay (reliability-wise) car for occasion uses?"

I had an A6 - one of the two best cars I have ever had.

  lunarpark   ignore (0)   2008 Jul 17, 3:03am     ↓ dislike (0)   quote   flag      

:)

I'm very curious to see where the numbers will be at the end of this year.

  lunarpark   ignore (0)   2008 Aug 1, 2:02pm     ↓ dislike (0)   quote   flag      

http://promo.realestate.yahoo.com/americas-most-overpriced-zip-codes.html

Ten spots where buyers pay a huge premium to own relative to how much it would cost to rent.

In San Jose, Calif., home to Silicon Valley and some of the highest home values in the country, a bumper sticker reads, "Dear God, one more bubble before I die."

  lunarpark   ignore (0)   2008 Aug 18, 11:37pm     ↓ dislike (0)   quote   flag      

I have never seen the appeal of Willow Glen. There is really nothing special about it.

  lunarpark   ignore (0)   2008 Aug 19, 3:03am     ↓ dislike (1)   quote   flag      

http://www.dqnews.com/News/California/Bay-Area/RRBay080819.aspx

Bay Area home sales climb above last year; median price falls hard

  lunarpark   ignore (0)   2008 Aug 20, 1:38pm     ↓ dislike (2)   quote   flag      

Ha ha, I was hoping Surfer X would chime in re San Jose. Classic.

  lunarpark   ignore (0)   2008 Aug 31, 10:55am     ↓ dislike (0)   quote   flag      

Re: Palin, are you fucking kidding me?

Good God, I will be going from a write in to voting for OBAMA.

  lunarpark   ignore (0)   2008 Aug 31, 10:55am     ↓ dislike (0)   quote   flag      

Re: Palin, are you fucking kidding me?

Good God, I will be going from a write in to voting for OBAMA.

  lunarpark   ignore (0)   2008 Aug 31, 11:55am     ↓ dislike (0)   quote   flag      

She is completely inexperienced. Beyond that obvious point, the fact that she believes a woman who is raped and becomes pregnant should have to carry the child to term - for that matter, she believes that a child who becomes pregnant due to incest should not be allowed to abort. That is utter insanity. Also, she has a pending scandal regarding trying to fire someone (google for more info).

McCain has totally failed in his selection of a VP candidate. I have lost any respect I may have had for him (which was very little in the first place).

I dislike both candidates, but I will hold my nose and vote for Obama.

  lunarpark   ignore (0)   2008 Sep 18, 2:35am     ↓ dislike (0)   quote   flag      

http://www.dqnews.com/News/California/Bay-Area/RRBay080918.aspx

Bay Area home sales near bottom again, median price plunges

  lunarpark   ignore (0)   2008 Sep 24, 3:58am     ↓ dislike (0)   quote   flag      

http://nowallstreetbailout.com/

Sign the Petition to Congress
"We are signing this petition in opposition of a taxpayer bailout of Wall Street. Banks and their millionaire CEO's should take losses for risky lending, not taxpayers."

  lunarpark   ignore (0)   2008 Oct 1, 1:57pm     ↓ dislike (0)   quote   flag      

http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=110&session=2&vote=00212

Link to how the vote went down. Thanks a lot Feinstein and Boxer. What a disappointment.

  lunarpark   ignore (0)   2008 Nov 6, 11:56pm     ↓ dislike (0)   quote   flag      

http://www.ofheo.gov/media/cll/HighCostLoanLimits2009.pdf

Bay Area conforming loan limit set at $625,500 for 2009.

  lunarpark   ignore (0)   2008 Nov 20, 2:25am     ↓ dislike (0)   quote   flag      

http://www.dqnews.com/News/California/Bay-Area/RRBay081119.aspx

Bay Area median price tumbles to $375K; sales reach high for '08

  lunarpark   ignore (0)   2009 Jan 21, 2:39am     ↓ dislike (0)   quote   flag      

Bargain hunting dominates Bay Area home sales in December

http://www.dqnews.com/News/California/Bay-Area/RRBay090121.aspx

  lunarpark   ignore (0)   2009 Mar 19, 2:57am     ↓ dislike (1)   quote   flag      

http://www.dqnews.com/Articles/2009/News/California/Bay-Area/RRBay090319.aspx

Bay Area home sales climb above last year as median falls below $300K

  lunarpark   ignore (0)   2012 Feb 3, 4:22am     ↓ dislike (0)   quote   flag      

saywhatyouwill says

Has my house lost 25k according to Zilllow? Yes.
Have I spent $15k on repairs and improvements? Yes.
How long I'll have to live here to break even: 7 or 8 years.
Do I regret it? No.

Here's the thing: my "rent" didn't increase this year! All that anxiety is gone. I was paying rent for 12 years before I bought. I'm going to pay off this house in 8. But, unlike 12 years of paying the same amount in rent, I am going to end up with a house that I'll only owe property taxes on ($500/month "rent"--nice).

Plus, all the intangibles: I got a pet (without paying "$50/month pet rent" or begging for a landlord's permission). I doubled my square footage and no longer have to walk 100m and get in an elevator to get from my car to my apartment. Checking my mail doesn't require 2 keys. My mailing address is no longer 5 lines of complex numbers and apartment numbers.

^^^This! Similar situation, bought in late 2010 and don’t regret it a bit. We rented for 7 years (thanks to Patrick.net for helping me keep my sanity when no one out there thought prices in the BA could fall). We had saved a large down payment plus 1 year of living expenses in case of job losses. I actually expected our value to be much lower by 2012 and for the market to be slower but two houses in my neighborhood went sale pending recently within one week of listing – this is San Jose-Willow Glen/Rose Garden and the schools are not good (except for Bellarmine). The prices seem to be stabilizing (for the moment).

At the end of the day you need to do what makes you happy, whether that means renting and stashing cash or enjoying owning your own home. No one knows the future so you can only do your best to estimate the future market. Life is not a purely financial decision though – at least not for me.

Personally I would not buy a condo. We rented one for 7 years and while the rent did stay low (had a great private owner landlord), the HOA was power hungry to the point that they complained about my plants on the deck. Who doesn’t like plants? I have a nice garden now :) (not that you couldn’t have that if you rented a house). I hope to pay this place off in 10 years and then just owe property tax. I do not think Prop 13 is a good thing but it is what it is and definitely has advantages.

Rents are a roll of the dice. I remember during the height of the dotcom days paying $2450 for a mediocre 2/1 in Mtn View. I’m glad to be done with that. Of course I cannot just move at the drop of a hat now…

Regarding MID, it’s one of the only deductions you get if you happen to be “lucky” enough to get nailed with AMT.

  lunarpark   ignore (0)   2012 Feb 22, 9:58am     ↓ dislike (1)   quote   flag      

Are you investing in a house or are you buying a home?

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