Sunday, September 19, 2010

Glut of Seabourne Homes for Sale In Crystal Cove

Looked this morning and there are now 8 "Seabourne" model homes for sale. In addition to the couple of Seabourne homes that have been listed for sale at one time or another for *** years ****, there are now 6 more.  In my opinion, none of them are priced to sell and none have sold.  The proof is in the pudding, as they say.  Be careful buying - if any of the owners really wants to sell, I expect major price reductions.


Anonymous said...

Looks like you have conveniently "forgot" about all the sales in Crystal Cove with long time owners making some nice profits. You might want to look how the SP500 did during the last 8years or so. Oh yea, you also might want to look at your "sunken" costs of renting over the last 8 years. I figure 3500 per month, 336,000 dollars flushed down the toilet. Don't forget the tax write-offs you missed on mortgage deduction and taxes. Looks like your on the losing end, again!

Mr. Blue said...

Anon, you seem obsessed with making assumptions about the rent v. own scenarios. You can easily pick assumptions that make owning look good. Problem is that those assumptions DO NOT APPLY to a home buyer in this market.

Who really cares what happened over the prior 8 years? If I am buying a home, I care what's happening in the next year or two. This is because i have a choice of renting or buying over the next year or two. I presently lack a time machine that can put me in 2002 to match your assumptions....

Any while you might get some glee imagining me as a sorry renter in the last eight years, you may forget that I owned all those years (in fact owned 2 homes). I sold my primary home in 2008 and have not been riding the market down on that one.

And the home i live in now costs the owner (landlord) twice to three times as much as it costs me to rent. Yet I get to live in the house. And enjoy it. And put my future downpayment dollars in the bank. Every day.