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Comments by lucas

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Posted on April 7 at 3:27 p.m.

Did it ever occur to you I was posting about Solvang and Buellton while you were posting about Santa Paula, so my post is not actually a reply to yours?

There are 5 active listings for 2/1 or greater listed for less $500,000. Whether they are "great" or not remains to be seen. Even fewer if you are looking for a single family home with a small yard. I understand that you may think people should be okay with dropping half a mil and settling for whatever they can get, but I am sure when you went house hunting, you had at least a few criteria. I can concede that if you are okay with anything, $500K can get you that.

It is very odd that you and your friends on this forum reject the golden rule and the the ideal of fairness. Of course, life is not fair. However, so saying is not an excuse to perpetuate it.

There is never any reason to make such nasty ad hominem comments, especially in response to someone who has not attacked you. I will not attack you, no matter how much you provoke me, so I will not open this particular article again.

On Sleeping Dogs Tell No Lies

Posted on April 7 at 3:26 p.m.

Did it ever occur to you I was posting about Solvang and Buellton while you were posting about Santa Paula, so my post is not actually a reply to yours?

There are 5 active listings for 2/1 or greater listed for less $500,000. Whether they are "great" or not remains to be seen. Even fewer if you are looking for a single family home with a yard. I understand that you may think people should be okay with dropping half a mil and settling for whatever they can get, but I am sure when you went house hunting, you had at least a few criteria. I can concede that if you are okay with anything, $500K can get you that.

It is very odd that you and your friends on this forum reject the golden rule and the the ideal of fairness. Of course, life is not fair. However, so saying is not an excuse to perpetuate it.

There is never any reason to make such nasty ad hominem comments, especially in response to someone who has not attacked you. I will not attack you, no matter how much you provoke me, so I will not open this particular article again.

On Sleeping Dogs Tell No Lies

Posted on April 7 at 3:25 p.m.

Did it ever occur to you I was posting about Solvang and Buellton while you were posting about Santa Paula, so my post is not actually a reply to yours?

There are 5 active listings for 2/1 or greater listed for less $500,000. Whether they are "great" or not remains to be seen. Even fewer if you are looking for a single family home with a yard for a garden. I understand that you may think people should be okay with dropping half a mil and settling for whatever they can get, but I am sure when you went house hunting, you had at least a few criteria. I can concede that if you are okay with anything, $500K can get you that.

It is very odd that you and your friends on this forum reject the golden rule and the the ideal of fairness. Of course, life is not fair. However, so saying is not an excuse to perpetuate it.

There is never any reason to make such nasty ad hominem comments, especially in response to someone who has not attacked you. I will not attack you, no matter how much you provoke me, so I will not open this particular article again.

On Sleeping Dogs Tell No Lies

Posted on April 6 at 10:51 p.m.

Detroit? Now that is really exaggerating for effect.

On Sleeping Dogs Tell No Lies

Posted on April 6 at 10:49 p.m.

At least you seem to agree that Alma del Pueblo is over-priced, so at least we are making progress. The reason to tie rental costs or buying costs to income is because income must pay for it. Interestingly, when prices are high, real estate agents love comparables. See, they say, comparables show the value. When prices came down a bit 2010-2013, real estate agents objected to comparables as being too low. Extremely inconsistent. If comps indicate value when prices are high, they indicate value when prices are lower. Or perhaps we need to look at a whole constellation of valuation metrics, including price to income ratios, cap rates, etc. There are about 7 such metrics.

On Sleeping Dogs Tell No Lies

Posted on April 6 at 10:39 p.m.

A $100,000 down payment (assuming 20%) won't even get you that uninhabitable tear-down at 408 W De La Guerra that just sold for more than $500K.

On Sleeping Dogs Tell No Lies

Posted on April 6 at 10:28 p.m.

Actually Buellton and Solvang are outside the 40 minute window unless you routinely break the speed limit laws. That route over highway 154 can be treacherous, especially in bad weather. Lompoc and Orcutt both require about an hour. Ventura is barely within the window, but probably not on a door-to door basis. If you move to Ventura, you can probably expect to budget around $500/month for gas, additional car maintenance and the extra cost of insurance. You will be doing well if you can find a decent one-bedroom in Ventura for $1200/month. If your SB apartment is about $1500, you will actually save money, time and aggravation by staying put. The break-even point for Ventura is about $1700/month. This is major reason why tenants do not take Jarvis advice to move out of Santa Barbara. Besides Buellton and Solvang suffer from a serious dearth of any rentals. Even though the SB vacancy rate is only 1%, in absolute terms there are more rentals currently available than in Buellton or Solvang.

On Sleeping Dogs Tell No Lies

Posted on April 6 at 9:43 p.m.

Where did I say I was low-income, Jarvis? Where did I say I want something deluxe? So clearly you did not hear me at all. Actually I am fine. Do you think everyone speaks only out of self-interest? I am speaking on behalf of the legions of frustrated tenants in SB, many of whom must accept low quality housing even though they make professional wages, as well as some of the people who must seriously consider some of your options. But do not forget--it would be foolish to quit a job just because of rent. Besides where do you think you can go door-to-door within 40 minutes besides Carpinteria? As far as the roommate idea--lots of people do this, but frankly, by definition, one person should be able to afford a one-bedroom. And you also forget, plenty of landlords forbid roommates. Market price should get the buyer a well-maintained home with off-street parking and laundry facilities, not the junky stuff on the rental market. If a tenant wants to pay premium prices, they can buy one of those new over-priced condos on Victoria. So fine, if 20% of housing in SB is dedicated to low-income. How about some housing dedicated to median income? SB lacks a continuum of housing options.

On Sleeping Dogs Tell No Lies

Posted on April 6 at 9:14 p.m.

Wages pay the mortgage, so generally speaking, fair value for real estate is related to wages. Median household income in Bakersfield is $53,693 (http://www.city-data.com/city/Bakersf...). Median house is $168,199, close to the real estate rule of thumb that house price to income should be no more than 3:1. Median family income in SB is $64,766 http://www.city-data.com/city/Santa-B...). Median house is $834,700 for a ratio of nearly 13:1, way out of line.

If I am going to pay Mercedes prices in SB, I should get Mercedes value. However, in SB, you are expected to pay Mercedes prices for Ford value. Santa Barbara houses are not well built, usually lack insulation, are often dark, not oriented properly on their lots to take advantage of the sun, or have their light blocked by neighbors, and frankly, are often dilapidated fixers, or have very strange interiors. An example of a strange house that sold for way too much is the one-bedroom at 501 Brinkerhoff. These are houses for sale, never mind rentals which are more like Yugos. If a seller wants premium prices, he ought to offer a premium house.

On Sleeping Dogs Tell No Lies

Posted on April 6 at 7:13 p.m.

What windfarm? (http://santamariatimes.com/news/local...)

On Sleeping Dogs Tell No Lies

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