All Forum Posts by: James De Stefano

Good Info in this thread. 

Texas market is similar now, lower inventory, high-overall prices due to demand & incredible interest rates. 

Here's my stab at the next 12-18 months:

1. Int. rates will stay relatively low,  and a steady demand will always be there as ppl have to move cities, job, etc. no matter what the economy is doing. 

2. Unemployment WILL stay high, as the service sector/ retail will just continue to get blasted.  Millions of jobs may stay gone for a long time. But not to sound harsh, but I would imagine many of those employees were not home buyer, but lifetime renters. 

3. What will scare me is the eventual inflation. I mean, it's got to happen, right?  The Gov. is just spewing money out like crazy.  So in theory, another reason house prices will remain high. 

* There's a 25% chance, that i'm wrong about 100% of this. :) 

Whew.... I read page 1 of this thread then noticed there were 7 MORE PAGES of craziness. 

There are pros & cons to owning vs. renting for sure.  A tenant could really hit a homerun finding the right property, w/ the right landlord, and they can raise their family in it for years and years. 

But leasing comes with a laundry list of restrictions as well. Apartment complex... do you want to live in one of those forever, w/o a yard, land, etc? Or lease a SFH, and have to pay Pet Rent for your dog, or have restrictions on designing your home? Plus you're at the mercy of rising rent each year.

When interest rates were 5 and 6%, renting was appealing. But with the ability to get sub 3% rates,  the seesaw seems to obviously tilt towards owning. 

As a previous teacher for 10+ years, here's my take:

1. Education needed a kick in the butt to straighten out some issues, and it's going to be a painful journey for a while ( years, likely) but in the long-run there can be major strides forward to mix the mandatory need for tech. education vs.  social skills that students need. 

2.  Elem.  Middle and H.S. will each suffer in their own ways.  Organized sports being thrown to the side is going to be difficult for many students to handle. 

3. The gaps between private v. public school will become even wider.  And parents that stay home with their kids will, at the very minimum, need to step up to keep student attention on lessons, assignments and tasks.  Crap, most middle school kids never did their home work or studied before Covid... now?  Yikes.....

4.  The major challenge to keep students from just screwing around on wifi/ youtube/ texting / social media  will be brutal.   Getting students back physically will be pushed, HARD I believe for many districts. 

All that to say... A 10% decrease this school year in teacher salaries would make sense, but politics the way they are?  Won't happen.   

Very interesting!!

As a Texan who's been to SD  5 times, it's an incredible city. My favorite of all the Cali cities, and that weather is hard to beat. 

This was worth a quick preview to get a visual of the Block Community mentioned above:

Youtube link https://www.youtube.com/watch?...

Agreed that you can give a proper heads up per the lease, and not have to leave alcohol.... but i'll put this Tip in my back pockets for a later date :)

Very interesting thread... I think Suburbs will continue to be big pulls if ppl can continue to work from home for the coming years.  

The way schools are handled this fall will be very impactful too.  Will kids be stuck at home if there are out breaks?  will the liability be too great to have public schools back in session?  

I don't have kids but trying to balance a REAL job working from home while having your kids in another room/ unsupervised, will be a massive issue coming up.  

Wait.. if this is a Month to Month... just do an addendum as mentioned above, to an agreed upon amount, or they are out. 

You're right to learn a lesson from this a correct it, because getting an extra $50 or so a month due to your previously negotiated agreement, won't be worth it in the long run if your A/C goes out in just a few years from heavy abuse

Shane,  sorry about the upstairs eviction process, and It makes sense to try and salvage the downstairs tenant.

The first post by Chinmay seems to mostly address the issues .  As far as the health affects/ smell/ damage to the property,  it is a different product than cigarette tobacco, and is unlikely to linger or create any damaging issues once the upstairs tenant is removed. 

Not sure if SPRs is a type for SFH, or just what that acronym is for?

I will agree that Vegas is in for a long, painful climb back up the economic mountain.   Beach cities / naturally beautify areas should do well as ppl can spend lots of time outside.  

Vegas??? whew.... although I did have a great hike at a state park 20 mins west of the strip!

Originally posted by @Adriel Hsu:

I'm actually looking to build 10 small townhomes in Northside Village (appreciation is strong with the gentrification) in 77009.  Im thinking 1300-1400 sq ft 2 bed / 2.5 bath  modern, unique, european townhomes with decked out backyard and modern smarthome tech to target our demographic of young professional without needing a whole lot of house. This will stand out from any other new construction and undercut the market and sell for $275,000.

If you can achieve this and still make a solid profit with a 275k Price tag, they should sell FAST.   Agreed, decked out backyards are an enormous benefit.  Best of luck