Looking for a home in Southern California?
Does the looney at par have you looking at homes in the USA? “America’s Builder” DR Horton is holding an ‘UnAuction Sale‘ in 23 southern California neighborhoods offering new homes for up to 50% off their peak value. In fact you can likely find deals like this in a lot of sunbelt states right now due to the current state of the US housing market.
The exchange rate and crashing house prices is making US property more appealing to many Canadians, but you’ll want to check into tax issues before you buy, even if you’re not planning on renting it out for cash-flow. Some states like Arizona charge the same property tax whether you’re a resident or not, while other states like California charge a much higher property tax to non-residents.
[poll=2]
RSS 2.0 comments feed. Both comments and pings are currently closed.
February 20th, 2008 at 5:22 pm
Bart, that link was from Blueskies. who posted it on Rob’s Blog,but yeah, the pumpers have done a good job of peddling the koolaid.
February 20th, 2008 at 5:01 pm
Good link A, Amazingly the math works out even worse up here since we don’t get the mortgage tax deduction they get in the US.
February 20th, 2008 at 4:40 pm
blueskies { 02.20.08 at 4:33 pm } The REAL American Dream
http://tinyurl.com/25ubbw
I think our society has been sold a pile of crap that we’ve bitten on hook, line, and sinker
If I could log on to that other blog I would have read the above, and I would have to warn you that you could end up on probation just like snick,
Heck you could get banned like me.
February 20th, 2008 at 4:19 pm
$1695 / 1br – 25th. Floor ,1 Bedroom / 1 Bathroom / Den / Balcony /Cellerium
http://tinyurl.com/29aycp
incoming sunlight could be considered “cellulite”
…from craigslist Spectrum ad
February 20th, 2008 at 3:52 pm
I think we’re looking at an England style meltdown, where the “let to own” specuvestors gets burned first…
I hope their greed keeps them in the market long enough so that they won’t be able to unload their investment on to some poor, honest,and hard working first time buyer, who sees a home for what it should be, and not a poker chip.
I am quite convinced greed and denial will keep the greedy fools from exiting at the first signs of trouble.
As inventory levels rise, they will just interpret it as a temporary lull.
The beauty of bubbles is they leave a lot of excess capacity as well as updated inventory behind, too bad some of it will leak.
The good thing is the specuvestors who deserve the bad karma, will be holding the bulk of the leaky condos.
February 20th, 2008 at 3:51 pm
Strataman:
You’re my favorite Boomer.
Craigslist:Harbinger of dooooooooooooom!!!
As it happens, I’m in the market for a 2bdrm. Do you have recommendations? My only two criteria are no grow ops, and no krrish….
February 20th, 2008 at 3:26 pm
scullboy: “Is it me or are the ads on Craigslist getting more and more desperate? I’ve seen several..” No your right. Also as I visit lots of towers everyday the main bulletin boards in the lobbies generally have three or four for rent. I never saw this last year. Lockers and parking stalls are also being separated out for rent to subsidize some of the owners. If your in the rental market for the $1400+ a month units you have 100’s to choose from. No longer is there “viewings will be held at xx time” it’s phone and we’ll arrange a viewing for you!
February 20th, 2008 at 3:15 pm
Is it me or are the ads on Craigslist getting more and more desperate? I’ve seen several
AVAILABLE IMMEDIATELY notices,
REST OF FEB FREE!!!! ads
I saw one WE’LL COVER YOUR BILLS
And several ads for our fave building Spectrum. The asked rents fluctuate wildly…. there are several one bedroom suites asking the same price as the 2 bdrm suites, and one townhouse that’s 1850, which is about what people are asking for some of the 2 bdrm suites.
I think we’re looking at an England style meltdown, where the “let to own” specuvestors gets burned first…
February 20th, 2008 at 1:24 pm
This is offtopic, but I just found the ‘Dan Rather Reports’ show on the Downtown east side and posted it in the forum, you can watch it here.
Its mostly about the ‘harm reduction’ policy for drug addicts and prostitutes. I wasn’t aware of the extremely high levels of disease in that neigborhood, they say HIV infection rates are the same as Botswana.
February 20th, 2008 at 1:20 pm
Strong employment growth and rising wages in other sectors are helping to underpin housing demand in the province.The 4,949 units sold in january 2008 in the province were well above the ten-year average of 4,230 units for the month of January.we are definitley here on this side of border
February 20th, 2008 at 12:59 pm
For those out there that read the Gartman Letter, I found it interesting in his anecdotal commentary today regarding S. Virginia real estate that he states: “This past weekend, here in southeastern Virginia, where property prices really never soared violently as they did in California, or Nevada, or New York, or Vancouver, we noticed a large number of openly advertised price cuts on new homes for sale.
What? Vancouver lumped in with California, Nevada and New York? But we’re different here right?
I love that we’re getting lumped in with the biggest US bubbles in a globally read financial letter!