Irvine homebuying down 11%

Starlight East said:
So does that mean we have the double dip now? Is it time to buy?
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Neither of those questions really apply to you anyway. You bought your gold house in Woodbury East, which by the way was an awesome buy. Don't worry about all this doom and gloom, Woodbury is special. I'm sure market factors won't take anything away from your financially sound decision to buy a stucco box with the TIC brand stamped on it.  ;)
 
Everyone would like to buy at the bottom and sell it at the peak, in reality no one knows the future. If you can buy at the relatively low, and sell it at the time of boom. You should be satisfied, don't be too greedy because many bought at the peak and was forced to sell at a loss. Purchasing a home is the most important investment in you life, for sure no one wants to lose money. On the other hand, your purchase is your home, a place for your family to enjoy and kids to grow with a lot of good memories. All these can not be measured by money. You buy it not only because the market is good, but there are other things to consider, such as stability of your life or career, and your family need.
 
lcms2002 said:
On the other hand, your purchase is your home, a place for your family to enjoy and kids to grow with a lot of good memories. All these can not be measured by money.
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That's realtor speak, with all due respect.

Of course it can be measured with money. A family could enjoy a place, and grow, with lots of good memories, renting a home as well. It just depends on whether renting or purchasing makes financial sense which is measured by ... money.

The entire concept that you have to actually "purchase" a property for stability, memories, and a sense of home, is one of the biggest scams the real estate lobby has managed to propagate to the layman.
 
Sorry , IndieDev, I am not in real estate business. It is personal choice to buy or to rent. If I am right, you are looking for your first home. My advice, become an owner and then tell me the difference. Of course, there are some advantages to rent, and some hassles to own. Once again it is personal choice, if you want to rent for the rest your life, this board is not for you.
 
Yes it's a "personal choice" to buy or rent, but your assertion that "it cannot be measured by money" is simply a housing lobby fantasy propagated by people with an expressed interest in selling something to people like you. You may not be a housing shill, but you have all the classic symptoms of someone hypnotized that home ownership is "special".

p.s - I hope one day I can own a home in Irvine like you, but I'm just a loser waiting for prices to drop 50% so I can afford to live there.
 
IndieDev said:
Yes it's a "personal choice" to buy or rent, but your assertion that "it cannot be measured by money" is simply a housing lobby fantasy propagated by people with an expressed interest in selling something to people like you. You may not be a housing shill, but you have all the classic symptoms of someone hypnotized that home ownership is "special".

p.s - I hope one day I can own a home in Irvine like you, but I'm just a loser waiting for prices to drop 50% so I can afford to live there.
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Oh, Boy, you are stressed out! Hosing hunting is not an easy task. My friend, take it easy. it is just the beginning. If you can afford $500k, and look for one mill house to drop 50%. I recommend you to have the smaller house first, and then you can move up as you accumulate more wealth in your latter years.  It is good to buy now, should not care it is better or worse than last year or next year (BTW, I do not sell anybody anything).  Next year the housing price may be up 20% or down 20%, the interest rate may 3% or 6%. You do not know, but you do know what you are going to have now.  Good luck with your hunting, I wish you the best and have your dream house in Irvine.
 
Thanks for the advice. Do you think housing will be up 20% next year? I'm kind of on the fence about buying. I have 3% down, and was thinking of doing an FHA loan for a small $600,000 house (backing to Culver). Should I buy now before housing goes back up in Irvine?
 
Which of course is an unpopular persona, so I've decided to play the role of the desperate non-Chindian Irvine yearner. I hope this is more suitable for the bubble brigade around here.  :D
 
IndieDev said:
lcms2002 said:
On the other hand, your purchase is your home, a place for your family to enjoy and kids to grow with a lot of good memories. All these can not be measured by money.
Click to expand...

That's realtor speak, with all due respect.

Of course it can be measured with money. A family could enjoy a place, and grow, with lots of good memories, renting a home as well. It just depends on whether renting or purchasing makes financial sense which is measured by ... money.

The entire concept that you have to actually "purchase" a property for stability, memories, and a sense of home, is one of the biggest scams the real estate lobby has managed to propagate to the layman.
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i completely agree with this. as if a family wont have memories if they live in a rented house. i grew up in rental till i was about 12, does that mean my memories start then?
 
qwerty said:
IndieDev said:
lcms2002 said:
On the other hand, your purchase is your home, a place for your family to enjoy and kids to grow with a lot of good memories. All these can not be measured by money.
Click to expand...

That's realtor speak, with all due respect.

Of course it can be measured with money. A family could enjoy a place, and grow, with lots of good memories, renting a home as well. It just depends on whether renting or purchasing makes financial sense which is measured by ... money.

The entire concept that you have to actually "purchase" a property for stability, memories, and a sense of home, is one of the biggest scams the real estate lobby has managed to propagate to the layman.
Click to expand...

i completely agree with this. as if a family wont have memories if they live in a rented house. i grew up in rental till i was about 12, does that mean my memories start then?
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Of course not. You can't have real memories or special moments unless you're paying property taxes. It's in the "Home Ownership Guidebook".
 
While I do think one can make a rented home just as memorable as an owned one... there are still advantages to owning.

I'm not saying that owning is better because depending on one's situation, that will differ... but this is a debate that will always be relative.

It's like comparing auto leasing to purchasing.

Financially, depending on the area and type of home, you can certainly rent for less than buying... but... having rented for a short period of time... I prefer ownership.

Why does IndieDev own instead of rent?
 
IndieDev owns because at the time of his purchase it made financial sense, not because:

lcms2002 said:
your purchase is your home, a place for your family to enjoy and kids to grow with a lot of good memories. All these can not be measured by money.
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Starlight East said:
IndieDev said:
IndieDev owns because at the time of his purchase it made financial sense, not because:

lcms2002 said:
your purchase is your home, a place for your family to enjoy and kids to grow with a lot of good memories. All these can not be measured by money.
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The real question is: Why are you still owning?

With all the irrational buyers paying 200K more than your fundamental value, shouldn't you sell? I'm pretty sure your rent versus own analysis would lean towards rent too.
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Well I'm trying to sell, but it's too hard. People only want to buy in Woodbury East, because frankly, it's a good value. The lucky ones hedged their wealth in Woodbury East properties. Unfortunately, all others are left out in the cold.  :(
 
qwerty said:
IndieDev said:
lcms2002 said:
On the other hand, your purchase is your home, a place for your family to enjoy and kids to grow with a lot of good memories. All these can not be measured by money.
Click to expand...

That's realtor speak, with all due respect.

Of course it can be measured with money. A family could enjoy a place, and grow, with lots of good memories, renting a home as well. It just depends on whether renting or purchasing makes financial sense which is measured by ... money.

The entire concept that you have to actually "purchase" a property for stability, memories, and a sense of home, is one of the biggest scams the real estate lobby has managed to propagate to the layman.
Click to expand...

i completely agree with this. as if a family wont have memories if they live in a rented house. i grew up in rental till i was about 12, does that mean my memories start then?
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I am sure that you have memory before 12, are you sure it is "good"?  I am sure that it could be better. The real question is, do you want your kids to have the same memory as yours, or you want them to have something better?
 
IndieDev said:
qwerty said:
IndieDev said:
lcms2002 said:
On the other hand, your purchase is your home, a place for your family to enjoy and kids to grow with a lot of good memories. All these can not be measured by money.
Click to expand...

That's realtor speak, with all due respect.

Of course it can be measured with money. A family could enjoy a place, and grow, with lots of good memories, renting a home as well. It just depends on whether renting or purchasing makes financial sense which is measured by ... money.

The entire concept that you have to actually "purchase" a property for stability, memories, and a sense of home, is one of the biggest scams the real estate lobby has managed to propagate to the layman.
Click to expand...

i completely agree with this. as if a family wont have memories if they live in a rented house. i grew up in rental till i was about 12, does that mean my memories start then?
Click to expand...

Of course not. You can't have real memories or special moments unless you're paying property taxes. It's in the "Home Ownership Guidebook".
Click to expand...

If you pay $30K for rent each year, are you sure that you are not paying property tax? Surely you are not paying to gov, but you are paying to your landlord!  This is why you have deduction on you state tax return on your rent.
 
Hard to believe what Indie says... considering if he owns where he says he owns... it had to be during bubble pricing (at least in the beginning)... so that can't be financially sound.
 
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