Here’s an Oceanside bungalow for the history books, a new REO coming to market soon, the best health food in Leucadia, full service in La Costa Oaks, a peek at the new football field at Carlsbad HS, and another car for around town:
The Fiorano on the test track: http://www.youtube.com/watch?v=s_L_Z16MyRY
I think I like the off the wall vids of Jim just networking around town better than the ones that actually have info in them.
It’s gotta be like a double kick in the nuts to all the other realtors spewing the “buy now or be priced out forever” mantra. When not only is Jim gaining new customers while telling the truth, he’s also gaining new customers buy posting vids that don’t even have anything to do with buying a house in them.
Leucadia is a cooooool place.
JtR
Any rhyme or reason as to how the banks divy up the REO listings to agents?
I prefer Top Gear. 🙂
“heading for Fairbanks Ranch”
You need to be in the truck anytime you are going to the ranch. Its a tradition.
I have always loved that house on La Costa. I used to live really close to there and always admired it. I have about 10 years before I could afford it. 🙁 I did not like the fact that it was the close proximity to La Costa though. I really liked the style and the office out back since I work from home a lot.
I can’t believe it was foreclosed on. For me that is a good sign that maybe some sanity is starting to creep in. I think the coast prices need to drop so the slightly more inland homes will also drop. I am looking in Carlsbad area basically somewhere west of Bressi but prices for decent houses are still too high. I moved here in 2005 and I have been renting just waiting for blood on the streets. Prices are getting better but I know many people that are hurting and are upside down. I guess I will keep renting forever since I want to stay in San Diego. It is getting really frustrating being in my position. I was responsible and did not buy into the bubble mania. I saw it early on and the great coverage by OCRenter and other bloggers confirmed my suspicion.
I make a pretty good income (far above average) and I don’t see how all these people are buying these 700,000 homes even now. Are they just totally forgoing any disposable income? Or perhaps they are more well off than I would guess. Or maybe some kind of inheritance? I would prefer to have financial safety then blow all my income on my primary residence.
The frustrating thing about renting is that is it hard to find a decent rental house. If you want to be a few miles from the beach (I surf) want a garage and want something that looks fairly nice you don’t have many options in North County.
If anyone can give some tips on finding nice rentals I would really appreciate it. I already monitor Craig’s list so I was looking for a supplement to that.
waiting_for_ever_to_buy,
Welcome to the “bitter renter” club. Eventually something has got to give. We can’t all be deadbeats.
Here’s a quick easy way to search craigslist for a place to rent. It also shows fsbo’s and enterprising realtor house listings looking to get some exposure outside of the mls.
http://www.housingmaps.com/
* The cheapest rentals are from long time owners that just put a sign in the window and start digging through applications looking for the best one. So it also helps to drive around the area/areas you want to live.
“Waiting For Ever”–As Jim has pointed out many times, today’s down payments are high, some all cash. If someone had owned in SD since even the late 1990’s, assuming they didn’t use their home as an ATM, they have significant equity to use for a down payment–that helps!
shadash: thanks for the link. I think I had seen that before a few years ago. I will take a look again. I may just have to drive around as well. Good advice. Gracias.
here are a few local property management companies that have rentals. shadash is right about get the best rentals from long time owners though. I looked for a long time from Oceanside to Solana Beach for an oceanfront long time rental and they are few and far between – at any price.
http://www.cpmteam.com
http://www.propadvantage.com
http://www.ranchandsea.com
From the Central Coast: There was an Open House just down the block from where I was renting so I walked over yesterday to see what it was listed for.
I had seen the home back in 2006. I loved yesterday that the RE agent told me as soon as I walked in that it was already in escrow. We then chatted about the local real estate market. From my Excel RE spreadsheet:
LP: 2-5/2006: $749K, $729K, then $719K
SP: 5/26/2006: $705K
Listed last week: $509K (-28% Decrease)
Already in escrow (Multiple Offers)
She said the owner had a lot of equity going in and has already found another house as he had a new job offer. He’s a banker, understands the RE situation and decided on the $509K list price.
What I found surprising was the fact she said that even though there were multiple offers, not one prospective buyer was open to paying the full list price.
The highest selling price I’ve found in this subdivision I’m currently renting in was just down the street from this Open House. In 2006, it was gutted on the inside and totally upgraded (all wood floors and tile and very upscale kitchen). It was listed for $750K and sold within the first two days for $740K back in April, 2006. That was the height of the RE bubble here, and prices have been falling ever since.
Back in 1998–when these homes were first built–they sold for about $197K. This very upgraded 4/3 home with a really sweet landscaped back yard (with rock wall) will probably close for less than $500K. *Sigh* I’ll have to wait about three more weeks to know the sold price, but I’m guessing it will be $490K or less. Yep, curiosity is killing me…
The coffee at Leucadia Donut Shoppe is a deal breaker. If they served even a half decent cup of coffee they would be the topps baby. I mean it too. Yes!
waiting_for_ever_to_buy,
FWIW I found my place on CL. Not sure where you want to live, but you can find a rental house here in Del Mar (heights) in the low $2k range and still be about a half mile to some pretty good surfing (just be careful not to ding your board walking down the cliff if you’re as clumsy as I am). It’s also a really easy commute to most places, especially if you’re in North County.
There are also people renting out their homes who, for whatever reason, don’t seem to list them online anywhere. It may be worth a quick drive around the places you’d like to live, as you mentioned, cel phone in hand. Another option is talking to a Realtor who deals with rentals. I was working with one, and even though I didn’t end up scoring my rental through her, she was very helpful. One last word of advice, well priced rentals disappear in a day or two.
Be glad you live in SD and not LA. If you want to feel better about the situation down here, check out some of the listings in the nicer LA cities. Holy hell.
Genius:
I am basically looking to be south of Oceanside and North of La Jolla. The “wifey” does not like Del Mar Heights. She says it feels like she is living in a college dorm area. I guess it is too crowded there. I may have to try to make her see it in a different light because I agree there are some nice rentals in that area and you are close to some good waves in Del Mar and Torrey. I actually surf that area all the time.
osidebuyer: Thanks for the links.
waiting_for_ever_to_buy, I can relate. I’ve been looking to buy for about a year and a half now. I’ve had 3 deals fall through, and just lost another one last night. We were in the counter offer stage and an investor came in at the last minute with all cash. My nerves just can’t take this game any more. I think renting along the coast is the way to go.
Did you guys/gals see this one? 1400 sqft house in an area with the worst encinitas elementary school listed at 485K…sold for 625K!
forgot link:
http://www.sdlookup.com/MLS-090070705-157_Beechtree_Dr_Encinitas_CA_92024
Jinx – My wife and I went and looked at the house when it first came on the market. IT was a REO and way underpriced. I can tell you what they paid for – THE LAND!!!!
It is easily the largest yard I have personally ever seen in Encinitas. You could easily rip that house down and build three more just like it on the land.
Main drawback was that the backyard backs up to the bluff overlooking the McDonald’s and Henrys on Encinitas Blvd.
Anyway, I suspect whoever bought it has lots of cash to invest into it. The house was a definite fixer upper.
RE: Beechtree
The property line ended right where the trees were. The second half of the yard (the big grassy area behind the trees) is actually owned by the shopping center! The owner tore down his back fence so it looked like that land was his.