This is my 25th year in the business.
I received my real estate license at the end of 1984, and moved to San Diego to start selling real estate. Interest rates had just come down to 13% – I thought I had better get in while the getting was good!
Recently I was on Mission Gorge Road (on the north side of the I-8 freeway from SDSU), and stopped at the place where it all got started for Jim the Realtor:
I have a couple of other clips coming that’ll continue the story.
“Yard dog” – love it! lol
aka “Lot lizard”
“Interest rates had just come down to 13%.”
Brings back awesome memories, Jim! In 1988, we moved to Hawaii. We had a 10.5% rate on our very first mortgage. We found an ocean-view lot for $50K, and built a 1248 sf home for $70K. A business acquaintance had given us the house plans for free. He told us it was the only one we could afford to build! Our DP was $20K, and I remember my hand shaking as I wrote that check.
We had a $1,000/month payment and just one income. Less than four years later, we sold it for $245K. I remember our agent wrote: WOW! with a red marker on our $133K closing check.
The whole experience taught us to go for our dreams no matter how crazy they may be. But I have to be honest, I still shudder at that 10.5% interest rate…
’84 I was livin’ large by Mesa College in a studio condo over looking your Mission Gorge!