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Another what to do question


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2012 Apr 16, 9:31am   27,995 views  76 comments

by Condohelp   ➕follow (0)   💰tip   ignore  

Your site helped my husband and I make a very good decision a couple of years ago. My husband purchased a 1 bed 1 bath condo in 2006 and paid way too much (it wasn't about the payments for us, it was about being stuck in such small quarters and not being able to afford renting it out). We were able to short sale in 2010, and as a result we are renting a 3 bedroom and 2 1/2 bath townhouse with much more space. I'm asking for advice because I'm afraid we are about to make a mistake like my husband did in 2006. We want to buy a single family home in a good neighborhood, with good schools (santa clara, campbell, parts of san jose west, sunnyvale, etc.). We have 20% down to buy a home at 600k. The problem is that there is very little inventory at that price in those areas, which aren't even my favorite areas. 600k is a pretty conservative number for us considering our income, but I don't plan to work as soon as we have children... at least for the first couple of years of their lives. The other issues are that for our price range the schools are good until high school, the properties are very small square footage wise and still need work. Our real estate agent said we would have to pay at least $750k for good schools all the way through... which we can afford, but would be a stretch. I used to think that renting was fine in this area, but rents are going up and up. We are lucky because we are renting our townhouse for a pretty reasonable price; however I'm afraid that our landlord will up the rent as the townhouses around us are going for much more and to rent a single family home will be about the same as purchasing one. If we buy at 600k our payments will be around $3000 plus we will be getting a tax right off, which will make our payments more like $2500. I'm also worried that home prices are going to get more expensive, as our real estate agent has told us most properties have over 15 offers on them now and some are all cash. I'm also concerned about all of the IPOS in the silicon valley and all of the wealth that gets pumped through this area. Please let me know your thoughts.

#housing

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60   freak80   2012 Apr 17, 5:09pm  

rowemoore says

Ironically, California has been the #1 agriculture provider to the US for like a half a century. We could do just fine without your corn...

You may get your wish. If demographics are any indication, California will become part of Mexico within the next 50 years. Like it was before the Treaty of Guadalupe-Hidalgo.

61   Robber Baron Elite Scum   2012 Apr 17, 7:45pm  


Bad school district = discount when you buy, discount when you sell
Good school district = premium when you buy, premium when you sell

You get exactly as much as you give, so there's no need to feel good or bad about it.

Areas & school districts can always change...

62   rooemoore   2012 Apr 18, 1:47am  

Austinhousingbubble says

thomas.wong1986 says

It all depends who you call a Californian.

Most of the greatest and even iconic Californians I can think of throughout history weren't from there.

That's true. California has always attracted the intelligent, creative and adventurous people who were itching to escape the god-awful states they were born in.

63   freak80   2012 Apr 18, 3:00am  

rowemoore says

That's true. California has always attracted the intelligent, creative and adventurous people who were itching to escape the god-awful states they were born in.

Until about ten years ago. Now it's just attracting illegals.

64   rooemoore   2012 Apr 18, 3:30am  

wthrfrk80 says

rowemoore says

That's true. California has always attracted the intelligent, creative and adventurous people who were itching to escape the god-awful states they were born in.

Until about ten years ago. Now it's just attracting illegals.

I agree. Guys like Mark Zuckerburg should be deported.

In fact, illegal immigration is down and now that employers are under increased scrutiny to hire legals, this trend will continue. But if the threat keeps folks living in fly-over land from moving here, I encourage you to keep spreading the fear to all your friends.

65   CrazyMan   2012 Apr 18, 3:32am  

E-man says

So Condohelp,

The housing crash is over. It is stabilizing in some areas, slowly increasing in some areas, and slowly decreasing in some ares.

Forming a right shoulder.

66   freak80   2012 Apr 18, 3:36am  

rowemoore says

But if the threat keeps folks living in fly-over land from moving here, I encourage you to keep spreading the fear to all your friends.

Folks in "fly-over" land aren't planning on moving to CA in the first place. They know it isn't smart to pay $500,000 for a run-down shack in a bad neighborhood. They aren't suckers.

67   rooemoore   2012 Apr 18, 4:13am  

wthrfrk80 says

rowemoore says

But if the threat keeps folks living in fly-over land from moving here, I encourage you to keep spreading the fear to all your friends.

Folks in "fly-over" land aren't planning on moving to CA in the first place. They know it isn't smart to pay $500,000 for a run-down shack in a bad neighborhood. They aren't suckers.

So, the illegal immigrants are suckers?

It's true California is an expensive place to live. Maybe where you live a home can be had for very little. You get what you pay for.

68   freak80   2012 Apr 18, 4:50am  

rowemoore says

Maybe where you live a home can be had for very little. You get what you pay for.

I get what I DON'T pay for. I get far MORE here for far LESS money compared to CA.

But hey, if you want to live in a run-down shack with no yard in a bad neighborhood...and pay half a million for the privalege, that's your business. Enjoy a lifetime of debt-serfdom to pay for it. Some banker will get rich off your labor.

I hope the nice weather* makes up for it.

*except there's no rain during the warm season, which is when you need it for growing things

69   EBGuy   2012 Apr 18, 5:03am  

The real injustice is that people in the Midwest are forced by federal law to guarantee ridiculous mortgages in California
For foreign-born (legal) immigrants*. CA has a net out migration of people born in the US.
*CA is in trouble if the world starts thinking like the rest of the US.

70   clambo   2012 Apr 18, 5:05am  

Rowemore it's true I was slightly impolite to the lady for making my comment. Think of me as the Greek Chorus that you find sometimes inconvenient but that also makes you think. I still pity a guy who has a wife asking strangers on the internet important questions. To each his own.
You of course don't like me because you 1. hire illegal aliens 2. have a wife. 3. justify breaking laws because you have the responsibilities of marriage and all the rest of it.
RE: The weather in California. Truly it's a nice climate weather wise. But, have you spent the winter of 82 and 83 here?
The rain was incessant and so depressing. The rain started in October and never stopped I think until May, but I actually cannot remember.
I spent a winter in Connecticut in a quaint town for one year a while ago. It was interesting that there were many sunny days although there were cold days. The cold was however not so intolerable compared to the damp cold here in Santa Cruz. Snow is a pain in the ass to drive around in, but it's also beautiful.
Springtime was incomparable because the tremendous flowers and dogwood trees, etc. made perfume. I called up to tell my friends "I'm walking around and it actually smells like flowers as I am walking!"
Summer is humid and warm, but it also feels like summer. Santa Cruz summer feels like October in Corning NY much of the time, depending on how foggy our summers are.
Going out at night is a freezing experience here. I dated a hot asian woman in San Francisco once and I had to wear my coat every time I was up there during the summer nights. It's goddamm cold.
Generally where I live the climate is like September on the East Coast, so it's pretty nice. But, for up to 5 months per year it's rainy and nasty. The last winter was the driest in over 35 years but we may have another "el nino" and watch out.
I don't know Corning but have been often to Cazenovia and environs besides New England. It's nice and the people are nice.
Americans in California sometimes have the experience of feeling like a foreigner in their own country. It's sometimes fun and interesting and later it's sometimes tiring.
Incidentally, the Mexicans know they're ripping us all off. They believe Califorina was stolen from them, and they also believe that poverty in Mexico is our fault, so it's justified in their feeble minds.

71   hanera   2012 Apr 18, 5:30am  

clambo says

Incidentally, the Mexicans ... believe Califorina was stolen from them, and they also believe that poverty in Mexico is our fault, so it's justified in their feeble minds.

The Europeans stole the entire American continent from the native American. Whoever has the bigger gun can do what they want. Currently, America still has the bigger gun. Is why US dollar is still the world reserve currency.

72   rooemoore   2012 Apr 18, 5:36am  

wthrfrk80 says

rowemoore says

Maybe where you live a home can be had for very little. You get what you pay for.

I get what I DON'T pay for. I get far MORE here for far LESS money compared to CA.

But hey, if you want to live in a run-down shack with no yard in a bad neighborhood...and pay half a million for the privalege, that's your business. Enjoy a lifetime of debt-serfdom to pay for it. Some banker will get rich off your labor.

I hope the nice weather* makes up for it.

*except there's no rain during the warm season, which is when you need it for growing things

I'm teasing you of course with my "fly-over" comments and am now sorry it has gotten you so riled up. My point is simply if you're happy with where you live why do you feel the need to come on this forum and denigrate California? California is not stealing money from you -- in fact we pay out more federal $$$ than we receive.

Enjoy your life in Corning. I've been through there a few times and it is very nice.

73   rooemoore   2012 Apr 18, 5:40am  

clambo says

Everyone who believes that the people south of the border are NOT capable of sitting through classes and studying is of course the bigot racist, not I.

clambo says

Incidentally, the Mexicans know they're ripping us all off. They believe Califorina was stolen from them, and they also believe that poverty in Mexico is our fault, so it's justified in their feeble minds.

No, you're not a racist. Saying Mexicans have feeble minds is probably a compliment from someone who lacks one.

74   Austinhousingbubble   2012 Apr 18, 6:19pm  

rowemoore says

That's true. California has always attracted the intelligent, creative and adventurous people who were itching to escape the god-awful states they were born in.

That's actually a somewhat nasty reading of what I was pointing to, but I can't tell tongue-in-cheek from chips-on-shoulders in text, so I'll give you the benefit of the doubt. I think anyone with any of their five senses working loves the state for its landscape/ecology. The California mentality is probably what the "hater" above was referring to -- you know, the one where Californians think everyone with any merit is just itching to leave their god-awful state to move to California.

BTW John Lautner -- one of the most magnificent architects of the 20th century who contributed some of his greatest work all throughout California had always maintained that LA was a total, inexcusably ugly dump compared to his hometown in Michigan.

75   clambo   2012 Apr 18, 6:27pm  

I say feeble minds belong to the Mexicans who 1. didn't finish high school 2. came here illegally 3. believe that their poverty was caused by us.
I should qualify that not all Mexicans have feeble minds. My friends in Mexico did not have feeble minds. Of course, they stayed and studied and became successful members of their society.
The people I know in Mexico are very different from the ones I know up here.
The guys up here tended to be all barely literate in Spanish, no skills, low to no English ability, and young.
Maricela has a feeble mind. She will soon have her kid but the identity of the father is unknown, it's one of three guys. Her girlfriend Carol has lost the $10,000 in cash she stashed in her room, another feeble mind. Carol evidently thought she'd owe income tax if she deposited the dough. I have tons of stories if anyone wants to know.
So, how many illegal aliens to you employ rowe?

76   freak80   2012 Apr 18, 11:56pm  

Austinhousingbubble says

I think anyone with any of their five senses working loves the state for its landscape/ecology. The California mentality is probably what the "hater" above was referring to -- you know, the one where Californians think everyone with any merit is just itching to leave their god-awful state to move to California.

Correct. I don't hate California. But I don't care for the extreme arrogance of SOME of its people. Ever see the South Park episode "Smug Alert"? ;-)

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