Home Buying & Real Estate Thread

[stork]

not even legally married and already home shopping

 

[ekrev98]

Maybe getting stationed in Cali next year. Never lived on the West Coast. Where are the San Diego residents at?

Yooooo. SD is one of the best cities to live in. Been here for almost 6 years. Sunny year round and the only complaint i have is that the drivers are horrible. lol.

I'm guessing you are in the Navy?

 

[xwestbullyx]

Yooooo. SD is one of the best cities to live in. Been here for almost 6 years. Sunny year round and the only complaint i have is that the drivers are horrible. lol.

I'm guessing you are in the Navy?

Yessir. Possibly headed to North Island. Question, would be cheaper to rent an apartment or home? Or should I consider buying? I'll have about 3 years left after this tour til I retire and heck I'll just stay in San Diego if it's worth it.

 

[ekrev98]

Yessir. Possibly headed to North Island. Question, would be cheaper to rent an apartment or home? Or should I consider buying? I'll have about 3 years left after this tour til I retire and heck I'll just stay in San Diego if it's worth it.

Nice!

Depends on what area you want to live but rent can be as much if not more than a mortgage payment. I have a lot of friends who were renting and now have purchased properties because it didn't make any sense for them to waste their money on renting.

If you have 3 years here, it's best to buy a house IMO. Home median prices have been on the on the rise every month and San Diego was ranked 8th in hottest city for real estate. The last house I sold was on the market for less than a day and i've seen those trends continue in other listings in this city. On top of that, you can qualify for a VA loan and use your mortgage for tax purposes. With the upward trend, at the end of 3 years your home would appreciate in value. 

Would it just be you or do you have a family?

 

[xwestbullyx]

Nice!

Depends on what area you want to live but rent can be as much if not more than a mortgage payment. I have a lot of friends who were renting and now have purchased properties because it didn't make any sense for them to waste their money on renting.

If you have 3 years here, it's best to buy a house IMO. Home median prices have been on the on the rise every month and San Diego was ranked 8th in hottest city for real estate. The last house I sold was on the market for less than a day and i've seen those trends continue in other listings in this city. On top of that, you can qualify for a VA loan and use your mortgage for tax purposes. With the upward trend, at the end of 3 years your home would appreciate in value. 

Would it just be you or do you have a family?

Good info brother, and yes that's what I figured. I'm tired of dumping money I could be investing towards a property on rent...makes zero sense. I just didn't want to buy in a location that I wouldn't realistically live after I retire but everyone endorses Cali. Also it's just myself.

 

[crcballer55]

 
Hypothetical: 

I want to purchase a house with my fiancee. How would I ensure, if I were to sell the house, I wouldn't have to split the profit of the house with her if we were to separate before marriage?

Best way to not have to split the profits is not to buy the house. Especially if you're even considering this type of thing before you even tie the knot.

 

[ekrev98]

Good info brother, and yes that's what I figured. I'm tired of dumping money I could be investing towards a property on rent...makes zero sense. I just didn't want to buy in a location that I wouldn't realistically live after I retire but everyone endorses Cali. Also it's just myself.

You'll love SD. I'm originally from Sacramento and it took me a while to adjust. But now, I love it.

The naval base is legit. The Navy Exchange is one of the best I've been to!

Anywhere and everywhere in SD is selling. Even the areas that are considered "ghetto" are going thru a transformation. I witnessed it myself because I lived in those areas and now everybody wants to live there with the new restaurants and shops popping up. It's a beautiful thing to see.

When you get here, let me know and I can refer areas to live or answer any questions you have.

 

[dathbgboy]

 
Hypothetical: 

I want to purchase a house with my fiancee. How would I ensure, if I were to sell the house, I wouldn't have to split the profit of the house with her if we were to separate before marriage?

Best way to not have to split the profits is not to buy the house. Especially if you're even considering this type of thing before you even tie the knot.

Exactly

Good info brother, and yes that's what I figured. I'm tired of dumping money I could be investing towards a property on rent...makes zero sense. I just didn't want to buy in a location that I wouldn't realistically live after I retire but everyone endorses Cali. Also it's just myself.

You'll love SD. I'm originally from Sacramento and it took me a while to adjust. But now, I love it.

The naval base is legit. The Navy Exchange is one of the best I've been to!

Anywhere and everywhere in SD is selling. Even the areas that are considered "ghetto" are going thru a transformation. I witnessed it myself because I lived in those areas and now everybody wants to live there with the new restaurants and shops popping up. It's a beautiful thing to see.

When you get here, let me know and I can refer areas to live or answer any questions you have.

U hirin bruh?

 

[ekrev98]

Exactly
U hirin bruh?

I'm always looking for motivated individuals to join the team and mentor them. I get people wanting to work with us but 99% of them don't work out cuz they're not about that grind and they expect it to be easy $.

 

[xwestbullyx]

You'll love SD. I'm originally from Sacramento and it took me a while to adjust. But now, I love it.

The naval base is legit. The Navy Exchange is one of the best I've been to!

Anywhere and everywhere in SD is selling. Even the areas that are considered "ghetto" are going thru a transformation. I witnessed it myself because I lived in those areas and now everybody wants to live there with the new restaurants and shops popping up. It's a beautiful thing to see.

When you get here, let me know and I can refer areas to live or answer any questions you have.

Thanks a lot brother, I'll PM you my info once I get back to the States. I'll be taking house hunting leave to visit the area for like a week. Again all of your input has been appreciated, repped.

 

[ekrev98]

Thanks a lot brother, I'll PM you my info once I get back to the States. I'll be taking house hunting leave to visit the area for like a week. Again all of your input has been appreciated, repped.

For sure! Happy to help!

 

[slicknick951]

Exactly
U hirin bruh?

I'm always looking for motivated individuals to join the team and mentor them. I get people wanting to work with us but 99% of them don't work out cuz they're not about that grind and they expect it to be easy $.

Looking to expand to the east coast?

 

[dathbgboy]

Exactly
U hirin bruh?

I'm always looking for motivated individuals to join the team and mentor them. I get people wanting to work with us but 99% of them don't work out cuz they're not about that grind and they expect it to be easy $.

Yea, dudes don't like working for their change, new breed. I do what I need to do, even if I don't feel like doin it I got seeds to feed. I'd def hit you up if I was in your area. I'd make the shift from IT Project Management to Real Estate/Construction PM

 

[monstar]

ITs official this bay area market is at a new level of ridiculousness

never thought about leaving but that is what it is looking like

 

[ekrev98]

Looking to expand to the east coast?

Unfortunately not.

Yea, dudes don't like working for their change, new breed. I do what I need to do, even if I don't feel like doin it I got seeds to feed. I'd def hit you up if I was in your area. I'd make the shift from IT Project Management to Real Estate/Construction PM

EXACTLY. I have a son who I take care of full time and a family as well. It took 1 year to get where I'm at and it wasn't easy. But hard work paid off and I'm excited for the future...

 

[dam itz lou]

These home prices though. Will the bubble burst soon ?

 

[crcballer55]

These home prices though. Will the bubble burst soon ?

Doesn't appear that's likely soon. Loan guidelines are more stringent now and there are still many areas where prices are actually affordable.

Millenials are by-in-large still renting in large numbers due to debt burdens so once those are eased, look for more competition. From my experience, most of the price increase is due to low demand from a variety of factors including owners not wanting to sell due to low interest rates and a large amount of properties bought up by investors with no interest in selling.

 

[stork]

there is no bubble. all the buyers today are qualified & legit, and so is their income.

we're just nearing the top of the curve.

 

[lightweight champion]

Does anybody think we'll see a plateau/stabilization in prices? There's just no way the market (in CA) can continue to rise from the mid-400s and up, right (I hope)?

 

[dam itz lou]

Do people factor in the tax savings in how much they can afford ? It's something I knew about going in but I was looking at it as more of a bonus. I didn't want to factor it in on how much we can afford, but now we're looking at expensive 2 family homes so I have to. It's about a 30K deduction between interest and property taxes.

 

[edshoecator]

Does anybody think we'll see a plateau/stabilization in prices? There's just no way the market (in CA) can continue to rise from the mid-400s and up, right (I hope)?

My gentrified block just hit 790k pricing.

Old craftsman houses help my bottom line but I have a Spanish revival and the wife wants a craftsman so I need to uber on my downtime and stack so she can get her house.

 

[ekrev98]

Doesn't appear that's likely soon. Loan guidelines are more stringent now and there are still many areas where prices are actually affordable.

Millenials are by-in-large still renting in large numbers due to debt burdens so once those are eased, look for more competition. From my experience, most of the price increase is due to low demand from a variety of factors including owners not wanting to sell due to low interest rates and a large amount of properties bought up by investors with no interest in selling.

THIS...rep'd!

 

[lightweight champion]

My gentrified block just hit 790k pricing.

Old craftsman houses help my bottom line but I have a Spanish revival and the wife wants a craftsman so I need to uber on my downtime and stack so she can get her house.

You and me both my brethren. I'm already on my Lyft/uber grind trying to make extra money. I really only do it during power hours though.

 

[crcballer55]

Does anybody think we'll see a plateau/stabilization in prices? There's just no way the market (in CA) can continue to rise from the mid-400s and up, right (I hope)?

It's hard to say. I've been straddling both sides of the argument for the past couple years. I see the debt burden of average Americans skyrocketing again combined with the LONG (historically) bull market going on and think we're overdue for some sort of recession soon. Credit card debt, student loan debt, and auto debt have each surpassed the $1T point while the about 50% of people can't pay for a $500 emergency out of pocket.

If I weren't already a homeowner and couldn't afford a home at this point, I would start socking the money away to take advantage of an unfortunate situation.

 

[pdino]

Do people factor in the tax savings in how much they can afford ? It's something I knew about going in but I was looking at it as more of a bonus. I didn't want to factor it in on how much we can afford, but now we're looking at expensive 2 family homes so I have to. It's about a 30K deduction between interest and property taxes.

No, the lender calculates how much you can afford, and tax benefits aren't included. Income and debt to income ratio are the 2 biggest factors in how much you can afford