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***Official Real Estate Thread***

Truth

Truth

Phil Edwards status
Jul 18, 2002
5,919
3,454
113
sdsrfr said:
i def think prices are getting tested at current levels.
Click to expand...

My Moms house went on market on Friday - only 2 offers all asking price but realtor thought it would have multiple offers over asking - maybe things are changing :shrug: - -
 
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sdsrfr

sdsrfr

Phil Edwards status
Jul 13, 2020
5,965
11,440
113
San Diego
Truth said:
My Moms house went on market on Friday - only 2 offers all asking price but realtor thought it would have multiple offers over asking - maybe things are changing :shrug: - -
Click to expand...
Honest question - does the house have ”sparkle”, or is it a fixer?

from what I’ve seen sparkle means walking distance to shops, epic views, or turn key ready to move in. Homes with all 3 fetch top dollar.
 
B

Bob Dobbalina

Miki Dora status
Feb 23, 2016
4,348
4,759
113
sdsrfr said:
i def think prices are getting tested at current levels.

my old dingbat 4-unit blocks from the beach sold to a wealthy couple down the street (all cash) while I was still there. new owners quick flipped the vacant units and jacked up rent by $1k. Took a couple months to fill units but they eventually did (all pre covid).

last I heard my old unit (moved 1yr ago) went for $1500 above my monthly and back of the envalope math suggests they are breaking even or better on the opportunity cost of their cash investment (If otherwise on fixed mortgage).

i think we will hit a lull but if the units are by the beach all those Amazon and Apple senior developers will scoop them up this summer.
Click to expand...

2 words.
Rent. Control.
Coming to a city near you.
 
sdsrfr

sdsrfr

Phil Edwards status
Jul 13, 2020
5,965
11,440
113
San Diego
Bob Dobbalina said:
2 words.
Rent. Control.
Coming to a city near you.
Click to expand...
It came, they went, it conquered.

the state level rent control won’t do much when the local area CPI is 8% (SD county), so rents can be increased by as much while still “protected”.

$3,000 rent going to $3240 in one year is hardly rent control.
 
B

Bob Dobbalina

Miki Dora status
Feb 23, 2016
4,348
4,759
113
sdsrfr said:
It came, they went, it conquered.

the state level rent control won’t do much when the local area CPI is 8% (SD county), so rents can be increased by as much while still “protected”.

$3,000 rent going to $3240 in one year is hardly rent control.
Click to expand...

Better than the stories above where the landlord can up your rent 1.5k
 
Truth

Truth

Phil Edwards status
Jul 18, 2002
5,919
3,454
113
sdsrfr said:
Curious if also detached - know someone who is pissed their $2mil condo never went up in value through covid but turns out SF real estate is tricky like that.
Click to expand...
detached - all SFH in development
 
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sdsrfr

sdsrfr

Phil Edwards status
Jul 13, 2020
5,965
11,440
113
San Diego
Truth said:
detached - all SFH in development
Click to expand...
Interesting - I do speculate that sort of home market slowdown is correlated with the dropping tech valuations and belt tightening on bottom lines.

having grown up in the area during the dot com boom - and bust - I personally would be licking my lips over some of the upcoming office furniture fire sales. Anyone got the hook on a minimally used Herman Miller chairs?
 
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C

CutnSnip

Phil Edwards status
Sep 11, 2018
5,867
6,205
113
Probably dropping in on you, California
sdsrfr said:
Anyone got the hook on a minimally used Herman Miller chairs?
Click to expand...
i got one for 400 bucks off clist - but im looking for a nw one now because this one didnt have the upgraded "recline lock" so my chair tries to oush me out of it at all times and i have to keep pressure to stay reclined. fkn hate it. didnt even realize they could come without that
 
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Mr Doof

Mr Doof

Duke status
Jan 23, 2002
24,934
7,853
113
San Francisco, CA
Bob Dobbalina said:
2 words.
Rent. Control.
Coming to a city near you.
Click to expand...

To help my brain accept a 30 year debt, I told myself, "This mortgage is 30 yrs of rent control."

Truth said:
My Moms house went on market on Friday - only 2 offers all asking price but realtor thought it would have multiple offers over asking - maybe things are changing :shrug: - -
Click to expand...
Maybe it it is priced just right? Just need one buyer after all.

sdsrfr said:
having grown up in the area during the dot com boom - and bust - I personally would be licking my lips over some of the upcoming office furniture fire sales. Anyone got the hook on a minimally used Herman Miller chairs?
Click to expand...
Got to one dot.bomb sale just in time to see about 5 people pushing a caravan of these chairs from the building to the U-haul.

So close.....
 
sdsrfr

sdsrfr

Phil Edwards status
Jul 13, 2020
5,965
11,440
113
San Diego
Mr Doof said:
Got to one dot.bomb sale just in time to see about 5 people pushing a caravan of these chairs from the building to the U-haul.

So close.....
Click to expand...
very well saw my dad and I doing the rounds - we made off witb 10 or so and he still has them at his office turned boomer man cave.

i remember the guy selling had a basement full and you got a deal if you bought in multiples.

i mainly remember this bc I was in charge of loading the car kept thinking how fun it would be to suicide a chair down the hill.
 
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M

Muscles

Michael Peterson status
Jun 1, 2013
2,599
3,607
113
California/Hawaii
bluemarlin04 said:
My friend yesterday made the best analogy for buying. He said buying in southern California or Hawaii is a lot like being hungry at the airport. You’re gonna have to just bear it and pay 20 dollars for a 3 dollar sandwich. Only other option is not eat at all. And the only way the vendors ever gonna drop their prices is if people stop buying it but people are hungry and irrational and gonna keep paying.
Click to expand...
This is a disingenuous comparison.

At some point consumers would not pay for the price increases and demand would drop forcing an adjustment to price. Would they pay $50 for a $2 sandwich? How about $100?
 
B

Bob Dobbalina

Miki Dora status
Feb 23, 2016
4,348
4,759
113
Muscles said:
This is a disingenuous comparison.

At some point consumers would not pay for the price increases and demand would drop forcing an adjustment to price. Would they pay $50 for a $2 sandwich? How about $100?
Click to expand...

And you can't buy a sandwich today and plan on selling it for more 30 years from now.
 
B

bluemarlin04

Michael Peterson status
Aug 13, 2015
2,565
2,383
113
Muscles said:
This is a disingenuous comparison.

At some point consumers would not pay for the price increases and demand would drop forcing an adjustment to price. Would they pay $50 for a $2 sandwich? How about $100?
Click to expand...
Sure. it’s not exactly a real comparison.

We will see what happens this year.
 
sdsrfr

sdsrfr

Phil Edwards status
Jul 13, 2020
5,965
11,440
113
San Diego
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