tag:blogger.com,1999:blog-3329419642567789295.post5299423836742552439..comments2023-10-30T06:49:13.259-07:00Comments on Larry Roberts real estate writing blog: More join the sub 80 clubLarry Robertshttp://www.blogger.com/profile/07551274023310137270noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-3329419642567789295.post-51264871463775732062008-02-04T20:59:00.000-08:002008-02-04T20:59:00.000-08:00Poking around Craigslist the properties weem like ...Poking around Craigslist the properties weem like they'd make money as rentals. I've seen a lot of empty houses in Hemet, though. Are there not enough people even at those prices?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3329419642567789295.post-50295699052371910862008-02-04T12:17:00.000-08:002008-02-04T12:17:00.000-08:00Papasmurf:I am a financial analyst and guess I am ...Papasmurf:<BR/><BR/>I am a financial analyst and guess I am out of the luck to buy this $200K house. Thanks for the information anyway.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3329419642567789295.post-76715083472373610682008-02-04T11:33:00.000-08:002008-02-04T11:33:00.000-08:00Most of the jobs in the IE are blue collar. Whereh...Most of the jobs in the IE are blue collar. Wherehouse, shipping, manufacturing, medical, education. Etc. There are few technical/engineering or financial jobs (unless you count working in a bank). Most of these jobs pay well enough to buy a $200k home. My brother in law works in machine shop, he is a CNC machine operator. He makes about $60k/yr. My sister is works as a nurse and also makes about $60k/yr. Even a single person with a decent job should be able to afford a $200k home with interest rates at 5.5%. A two family income should be able to swing it even if they are both only making $15/hr. There seems to be a perception around here that every job is in the OC or LA. Or that the only jobs in the IE pay $8/hr. Yes, the pay scale out in the IE is less in most cases but it's not that much less.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3329419642567789295.post-18687889589326529652008-02-04T11:19:00.000-08:002008-02-04T11:19:00.000-08:00[The vast majority of people living there work in ...[The vast majority of people living there work in the IE. I live and work in the IE and 80% of the people I know work out here. Most of the people that live near me work out here.]<BR/><BR/>I'd like to know what type of jobs those people doing. From reading the previous posts from this blog, I learned that most of the jobs in IE are blue-collar, teacher or nurse type. Correct me if I am wrong.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3329419642567789295.post-6359988416777097742008-02-04T09:31:00.000-08:002008-02-04T09:31:00.000-08:00Oops, replied to the wrong post..Oops, replied to the wrong post..Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3329419642567789295.post-64861024955353834092008-02-04T09:29:00.000-08:002008-02-04T09:29:00.000-08:00Pool could add about $30-50k nowadays, but for me,...Pool could add about $30-50k nowadays, but for me, a once-while-swimmer, it's definitely a negative feature. I don't want to spend the time and money to maintain a pool that I might only use once a month..Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3329419642567789295.post-10056682274154714492008-02-04T07:08:00.000-08:002008-02-04T07:08:00.000-08:00I dunno how many times it needs to be mentioned th...I dunno how many times it needs to be mentioned this BUT, there are jobs in the IE that don't require a 90 mile commute to LA or OC. Face it, no one with a good job in LA is going to live in San Jacinto or Hemet. The vast majority of people living there work in the IE. I live and work in the IE and 80% of the people I know work out here. Most of the people that live near me work out here. BFD, those houses are 30 miles for Riverside. That's still better than living in Corona or Fontana and driving 40 miles to the OC or LA on the 91 or the 10.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3329419642567789295.post-18361803429666697772008-02-04T06:50:00.000-08:002008-02-04T06:50:00.000-08:00These two houses are nice and inexpensive. However...These two houses are nice and inexpensive. However, they are 90 miles from LA, 75 miles from OC and 35 mile from City of Riverside. One may buy one of them as second home, and live there only at the weekend.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3329419642567789295.post-40652803627366677152008-02-03T21:09:00.000-08:002008-02-03T21:09:00.000-08:00If they can actually be rented with positive cash ...If they can actually be rented with positive cash flow then they will sell. There are plenty of investors that will buy the properties if they will be cash flow positive. I would, wouldn't you? Now who's going to rent them is a better question. All the people that are losing their homes have to go somewhere. But there credit is probably sunk. Will they even be able to rent with credit scores lower than the superbowl score. There are reports that indicate the IE is overbuilt. Judging by what I see I have to agree. Every new apartment complex I drive past has signs offering specials. They built so many I cannot imagine how they will rent them all. Many people, especially those with families would rather have a house. Maybe there will be more demand for houses but you have to think with all the competition the rents will start to fall. <BR/><BR/>$215k is not a bad price for that first house. Even with a 20K down payment that's just over $1000 a mo . Taxes are only another $200/mo. Add a little for insurance and you are still only around $1300. I have no idea what homes rent for out there but $1300 seems awfully cheap for a house that size.<BR/><BR/>PSAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-3329419642567789295.post-27217678985433224832008-02-03T20:19:00.000-08:002008-02-03T20:19:00.000-08:00And here's what I what I am wondering. Even if it...And here's what I what I am wondering. Even if it does make financial sense (or will make sense soon) to rent some of these homes, who is going to buy them and more importantly, are there any renters?<BR/><BR/>All of which assumes the homes are in the appropriate condition to rent.<BR/><BR/>All of which is to say that it's not impossible to consider some of these rentals but how realistic is it?<BR/><BR/>I really don't know. I'm looking for a local opinion.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3329419642567789295.post-4278843713527255632008-02-03T19:52:00.000-08:002008-02-03T19:52:00.000-08:00Well that didn't work. Here it is again, Redfin ve...Well that didn't work. Here it is again, Redfin version. :)<BR/><BR/>http://www.redfin.com/stingray/do/printable-listing?listing-id=1384376Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3329419642567789295.post-13796024518616495962008-02-03T19:49:00.000-08:002008-02-03T19:49:00.000-08:00You think these people will entertain an offer of ...You think these people will entertain an offer of $80/sq.ft.??? LOL!<BR/><BR/>http://www.ziprealty.com/buy_a_home/logged_in/search/home_detail.jsp?listing_num=I08003516&mls=mls_so_cal&source=MRMLS&propertyType=SFRAnonymousnoreply@blogger.com