San Diego can use a lesson or 2...

[CNCreefer]

The mayor and city council should all get on a plane and go to Detroit. Maybe they'll learn something.
Detroit has money problems and a bad reputation, however they have 2 brand new stadiums, new infrastructure, lots of industry, etc...Anyone who watched the game yesterday will agree. And when a road gets a pothole they fix it real fast. I know, I used to live there.
With all the litigation going on here, and a city attorney who'll sue anyone anytime, with all the legal fees, etc., we could have a new stadium for the Chargers. And the airport, Detroit has an airport that is as big as North Island, Miramar, and Lindberg Field combined.
And now I read in todays paper I read this:
A major U.S. bank has funded its first home loans to undocumented Mexican immigrants in San Diego County.
And regular working folks like myself don't stand a chance of ever owning a home here.
If I ever lose my job, I'm GONE! Back to Detroit where I can still buy a house for a reasonable price, and the wages there are higher than here for the same job.
Sorry, had to vent....

[pk-sd]

Will you be parting out your tank ?

I have dibs on everything !!:D

[Reefer Addict]

Are there warm beaches in Detroit?:cool:

[reef]

If I ever lose my job, I'm GONE! Back to Detroit where I can still buy a house for a reasonable price, and the wages there are higher than here for the same job.
Sorry, had to vent....

What's the point of keeping your current job if the wages and price of living are so much less there?

Everyone complains about housing costs, low wages, questionable politicians, etc.. but the fact remains that it's sunny year around (minus june gloom), the women are hot and saltwater is free at scripps.

[Reefer Addict]

If I ever lose my job, I'm GONE! Back to Detroit where I can still buy a house for a reasonable price, and the wages there are higher than here for the same job.
Sorry, had to vent....
Then why are you still here? If you like it there better, you can actually buy a house, get paid more for the same job.....? I get it.... SD REEFS is what keeps you from moving...:cool:

[sacredfire]

Anyone who really wants to buy a house can.


People who say they cant afford the housing prices havent researched it enough or have they met with a money hungry Agent who wants a quick sale and totally turned them off.

Sure you cant go buy a 1,000,000 House cash, but Im pretty sure you can afford 1,500 a month.

Its not all about price, Its all about "Terms"

Forget about the "Affordability Index" also, That formula hasnt been acurate for decades.

So sorry you cant use that excuse.

[farrington300]

Sure you cant go buy a 1,000,000 House cash, but Im pretty sure you can afford 1,500 a month.


$400,000 loan is about 2400 a month, not 1500, and for that much you get a condo, which have in the last year stopped appreciating in value and in some places decreased in value (ie normal heights). To me its a matter of what you get for the money, yes i could afford 2400 if i really pushed, but i would feel like im not getting a good value for my money. Lastly, yes i am moving pretty soon. Sorry to go off, this has been a big topic for me recently.

[sacredfire]

Terms is the Keyword. PITI or PickAPAy of course the payment would be high.


Prices dropping Ha! Show me... Your probably thinking about the home seller who listed @ last years summer prices. Buyer sees the house for sale @ 500,000 in which the seller was on crack then had to come to reality and bring it to market value, same buyer sees the same home again and asking price is @ 415,000 (fair market value) then says " Look SD market is going down" Ha hA you wish.


Dont belive your newspaper just because its printed.

Prices are not going down... Its stable. Dont belive me, ask Gregory Smith yourself.

Or better yet,

Jim Abbott of Prudential - Downtown

or Patti McKelvey of McMillin Realty-South Bay

or Andy Pheasant of C-21 All Service-East County

or Carlton Lund of Prudential North County

I can go on and on. But I wont.

So do you have any frags?

[brncsfns5621]

you should trust nick (sacredfire) on this one, he knows real estate.....

[swissfish]

I think Nick is one of those shady agents :)

Well if the marked is dropping, your payment still stays the same because the rates are going up.
What do you think nick?

[sacredfire]

I think Nick is one of those shady agents


Concur,

I like to be in the shade, Im dark enough. A lady @ Zales jewlers asked me if I was from India...Ha hA...kinda hurt but was over it real fast.


To answer your ? It all again falls into the terms of your loan.
IF the market took a hit, yes your payment would stay the same, Same as if the value went up. unless you stayed into a variable rate mortgage which is crazy since the mojority of loans life span is 5years max. and the rates have nowhere but to go up.

If the Rates go up it doesnt mean that your payment will go up also, Most people are in a Fixed rate Loan. 5yr 7yr 15yr 30yr etc.. If you C/O Refi and the current rate is higher, your payment will be more.



All information in this post is deemed reliable but not guaranteed. Neither nickruiz.com, this Web Site Manager, nor individual sdreefs members shall be responsible for any typographical errors, misinformation, and misprints and shall be held totally harmless individually and/or collectively.

[dbrooks]

or Andy Pheasant of C-21 All Service-East County



Andy Pheasant!? My parents did deals with him in the late 70's!

[Phischy]

Detroit is a dying city. They've lost 1.1 million people and still have an infrastructer to support that extra load. With the loss of tax base they cannot maintain it.

Detroit revitalized downtown, espically for the superbowl to attract new business to the city. but it's doubtful they will come 'en mass. Detroit and SD are not anything alike. Detroit is rotting, empty houses and lots everywhere-not the case in SD.

The elected officials lied and screwed the system up, they are now playing CYA and hiding as best they can. Lawsuits will be the only way to resolve the mess since they won't come clean on who screwed the pooch when and how.

Want to talk about airports? Where are you going to put it? That's the big issue, land is not available.

Want to talk Stadiums? The people of SD got bent over for the baseball stadium and now the chargers want a Half Billion Dollar gift from the city. But the city doesn't own the land and thus can't give it away (thank god). The water department does and by law they have to get paid fair market value for that. Last time I checked the city is broke as a joke and can't gift it away and pick up the tab.

SD is in a bind, but we're not nearly as screwed as Detroit.

[swissfish]

I was in Detroit last Year, and the Year before. The best thing about Detroit was the Tunel going to Windsor (Canada) and the Ribs the had over there.
The Airport (Smith terminal) wasen't that great and Downtown was like San Diego used to be, before they cleaned it up.

[MrKrispy]

I grew up in Michigan, I always like going to Detroit. But there is no way in hell I would ever put Detroit on the same level of San Diego. Detroit is done for, it has been in decline for 20 years and will not be getting better.

[sacredfire]

.


Great Post!



We have it the best here.

Where else in the world can you be Near the ocean, Drive East for 30 min and your in the snow/Mountains, Then drive 45 min and your in the desert?

we get the best of all niche's.

[Reefer Addict]

It's funny. I have never heard heard anyone proactively state that they want to move to Detroit. It's like saying, "I'm outta here. Watts, here I come!":cool:

[dbrooks]

OK, I'm going to come right out and say it.. Detroit is a ****HOLE!

Are you kidding me? I would rather rent for the rest of my life, than move to Detroit. Airport, infrastructure, big fancy football stadium...who cares!? It's friggin' Detroit!

[pk-sd]

I think CNCReefer left few minutes after he started this thread.


Hmmmm........I wonder what he did with his tank??

[Phischy]

Look, San Diego has some serious issues still ahead of it. Aside from the weather, the city has pretty big issues to face down and it'll get worse before it gets better. The lawsuits and laying blame will probably last another 5 years to get the mess sorted out, it will be worth it to throw those crooks in jail. Public officials have to be held accountable, just like the big wigs at Enron Worldcom etc...

I personally think "White Collar" crime is worse than any other except rape and murder. But it usually carries lighter sentences.

San Diego has a very bad habit of wanting everything and paying for nothing. We recieve a lot of benefits that carry a fee in the majority of other cities, all that has to be paid for and it comes out of the general fund.

SD will never be Detroit, but it is not "America's Greatest City" by far. Still better than LA though.

[Reefer Addict]

I read somewhere that guys working in Burger King in Detroit get paid more than guys working in Burger King in San Diego...:cool:

[swissfish]

[QUOTE=Phischy]

I personally think "White Collar" crime is worse than any other except rape and murder. But it usually carries lighter sentences.

QUOTE]

In the politicians case, I yell out TREASON and that should carry the deth sentence.:eek:

[CNCreefer]

I'm still here :) but if I do decide to go back, I will live in the 'burbs. I was born and raised there. I don't work for the automotive factories but I am a machinist, and there is still lots of machine shop work there. You can buy a 3 bdrm home in the 'burbs for about 130,000 which is about 600 a month, less than I pay for rent here for a tiny 300 sq. ft. apt.
In this town only 10 percent of the population can afford to buy a home, unless youre from Mexico illegally. Which is just wrong.
And Detroit is no longer the murder capitol. The crime rate here is just as high. And we don't have canadians swarming the border to get here. Come to think of it, Canada is much cleaner that the U.S.

[Phischy]

Bon Voyage

[swissfish]

au revoire!

[sacredfire]

Adios!

[pk-sd]

Ulvida !

[lucubrator]

Hej då!

Don't forget your passport.

[swissfish]

Auf Wiedersehen

[swissfish]

Und Tschuess

[pk-sd]

Dufa Ho !!

[sacredfire]

arrivederci

[dbrooks]

later

[sacredfire]

Peace Out! Yo

[reef]

Don't let the door hit you on the way out..

[brncsfns5621]

You can buy a 3 bdrm home in the 'burbs for about 130,000 which is about 600 a month, less than I pay for rent here for a tiny 300 sq. ft. apt.

What people tend to forget here is that yes, you can always buy cheaper somewhere else, but.... does it appreciate the way it will here? I made $70k on a condo in two years, then $90K on my house in a year, and then $150k on an investment condo in 6 months. You WILL get your money's worth when you buy here. I am pretty sure Detroit will not do that for you.