***Official Real Estate Thread***

[stringcheese]

Coastal Commission OKs cap on short-term rentals in San Diego — with a key provision

Commission requires revisiting the new rules in seven years.

www.sandiegouniontribune.com

anyones guess if this will have a measurable impact? my old NCSD neighborhood was inundated with short term rentals due to walking proximity to the beach and town.

1%... except in mission beach, where it will be 30%....so, who on the council is it that owns the mission beach rental properties?

 

[Mr Doof]

E-shake on the following:

1) we'll do the close price on 4/30 to determine the winner.

2) over 3700 and Mr Doof's paypal account will be $100 richer, 3700 and under LifeOnMars is $100 richer.

Now to bookmark this thread.

Closing price on Friday the 29th of April was above 3700, which means the opening price on Monday 2nd of May was above 3700.

Will send PM for details on where to send the $100 by Paypal.

 

[Sharkbiscuit]

Mr Doof is undefeated!

(waves money at contractor's camera at agreed upon time when contractor is nowhere to be found)

 

[LifeOnMars]

Closing price on Friday the 29th of April was above 3700, which means the opening price on Monday 2nd of May was above 3700.

Will send PM for details on where to send the $100 by Paypal.

it's coming just not as quickly as I had hoped

 

[bluemarlin04]

So what does everyone think is going to happen to the real estate market with the rising rates?

Not really seeing any slow down whatsoever just the pool of potential buyers dropped. So now instead of 100 rich dudes trying to buy coastal homes you got 50.

i don’t see prices dropping in places like San Diego or anywhere coastal.

housing shortage still applies and people need a place to live.

Will be interesting as we enter the next economic shift.

 

[silentbutdeadly]

A good portion of SD seems to get buyers from the bay area or other areas where they can work remotely and really want to live here.

 

[Mr Doof]

If the 'work from home' thing keeps on growing, maybe downtown office towers will get converted to housing?

 

[silentbutdeadly]

could definitely see that especially in desirable areas.

 

[grapedrink]

So what does everyone think is going to happen to the real estate market with the rising rates?

Not really seeing any slow down whatsoever just the pool of potential buyers dropped. So now instead of 100 rich dudes trying to buy coastal homes you got 50.

i don’t see prices dropping in places like San Diego or anywhere coastal.

housing shortage still applies and people need a place to live.

Will be interesting as we enter the next economic shift.

Agreed. I could see crappy and marginal markets like midwest cities declining in price (and already are), however hot markets where people actually want to live will continue to increase, just probably not as rapidly. Rising rates has taken out some competition, but there is still plenty of buyers in the game like you said.

We still have limited supply and plenty of buyers who all want in to the same handful of zip codes.

 

[Havoc]

we put in an offer for 100k over asking. asking was already 200k over adjacent home values. denied. houses are going 50%+ over asking price. who da fk r are these aholes with all this $$$

 

[Bob Dobbalina]

we put in an offer for 100k over asking. asking was already 200k over adjacent home values. denied. houses are going 50%+ over asking price. who da fk r are these aholes with all this $$$

Corporations are people

 

[McHatin]

Fuk that

I saved most of my life, and I have a serious problem using that to even go any more than $20k over asking. The game has changed, I'll inherit my parents' home and let the animals eat each other up in this market

 

[Havoc]

during the open house there were tons of aholes pulling up with their $150k cars acting all snooty. the area is family oriented and does not have many ppl like these in the past when i used to live there. guess the snooty areas are overrun so the aholes r branching out pushing out the middle class. oh and lower middle class these days is $250k combined annual household income

 

[bluemarlin04]

Fuk that

I saved most of my life, and I have a serious problem using that to even go any more than $20k over asking. The game has changed, I'll inherit my parents' home and let the animals eat each other up in this market

I mean some take this approach.

But at the end of the day- you need a place to live and many want the stability to live in one place for a long time and not pay someone else and make them rich for the privilege.

there is ALOT of money with young 30-40 crowd in areas like hawaii and California. And many of them make good money and parents are also hitting retirement age with huge 401ks giving some to their kids.

so that is how you get houses 100-200k over asking. it’s crazy to see.

like I said- I don’t see any price drop in those markets coming. Just far too many people And not enough house

 

[Havoc]

If the 'work from home' thing keeps on growing, maybe downtown office towers will get converted to "low income" housing?

that's where everything is going.

low income projects planned for mission viejo and yorba linda. thanks gov nusance, lets just fk up some decent middle class areas with the ghetto

 

[Truth]

Hope so - Mom downsizing and home on market on Fri for 3.2 - realtor siad most likely get few offers at broker open on Thurs

Damn who has all this cash?? Wonder what she will get??

 

[Mr Doof]

oh and lower middle class these days is $250k combined annual household income

Thanks for popping my balloon.

- Aspiring upper lower class looser out!

 

[Havoc]

Thanks for popping my balloon.

- Aspiring upper lower class looser out!

me too lolz

 

[Truth]

Thanks for popping my balloon.

- Aspiring upper lower class looser out!

I knew I was out of that dream in the 90's hahahah

 

[One-Off]

We've been looking but nothing in our range is coming up. Something finally did but it was a fixer built on a sloping lot. Our realtor told us it needed foundation work. We did some foundation work on our present house, a 1920's beach bungalow on a flat lot (repairs and earthquake retrofit). I figured you could totally replace a foundation for 50-70k. But when we went to see the house the whole house was tilting. And at the back of the house was retaining wall at the property line, which would mean involving neighbors for the repair. The area was nice, the house would have been perfect and the price left a lot of room for repairs, but we reluctantly walked away...

Oh and it went contingent within 2 weeks.