The Boss says to say hi to the very cool couple from Gilroy who came into her store the other day. Turns out they’ve been here before — Hi Guys. Come on back, y’hear?
Also, had the good fortune to run into Cher this afternoon at my satellite office. She graciously allowed me the pleasure of buying her a drink. Unlike me, it took her about 10 seconds to finish ordering it — not to mention another few minutes cooling her heels while they made the dang thing. Starbucks is a coffee house, right? 
I’ve been thinking how this market correction is different than the others I’ve experienced — survived? This one is different, at least for places like San Diego. How? The investment real estate — income property to be specific — is now at such high prices, even after this correction, that it now takes 35-50% down payments to force them to make sense. Time isn’t gonna cure this — and if that’s the argument, why would you invest in San Diego now? Your argument has to conclude prices falling more. If that happens how long would you have you been sitting on the sidelines waiting for the pretty girl to come back and smile at you?
She’s not there, and she ain’t comin’ back. I tried to tell folks, but only some would listen. The predictable return of boom times for San Diego investment property is a thing of the past. She’s not there, and she’s not comin’ back. Nobody told you? I tried like crazy, and am still doin’ my best to convince you.
The metaphor of boom times as gorgeous lady now gone — even if she comes back — you won’t want her any more. So realize you can’t find her for a good reason — She’s Not There. (The bad lighting disappears in about 8-10 seconds.)
Had a phone conference last week with a northern california investor. Seemed he wanted me to lie to him, and telling him appreciation wasn’t gonna leave him. It’s gonna be like it was before. As the conversation continued it became clear my part was to continue the fantasy. He wasn’t happy to hear the truth — appreciation is fickle and comes and goes as she pleases. Still he kept saying — ‘Lie To Me’ — tell me insane appreciation will never leave me again. Tell me everything’s alright.
This market is and has been offering very solid real estate investment opportunities — just not in California and places like it. Even in the brutally burning sun of a market correction you can find Smooth places to safely and prudently invest. This is how that looks and sounds. It’s fun, it’s liberating, and it lifts our spirits — not to mention our net worth. Turn up the volume and enjoy — see you tomorrow.
Related posts:
- Life In San Diego On Super Bowl Sunday — Just Another Day In Paradise
- An Early March Sunday In San Diego — 75?And Sunny
- Random Sunday Thoughts — Invest In San Diego? Nope
- Media: Do Real Estate Investors Want Accuracy or Truth?
- San Diego Real Estate Investors — How’s That Income Property Workin’ For Ya So Far?
About BawldGuy
Jeff,
Your posts just keep getting better. Nothing tells the story like a good song. Thanks!
Hey Sean, thanks — Do you know the words to Purcell’s La Mesa Living by The Bloodhound Gang?
Jeff, I was just thinking of you and your Dad’s passing, get an urge to drive down to Starbucks. When we ended up walking in the door at the same time….life is magical sometimes. Thanks so much for the latte. Nothing like a book break to clear the mind and seeing a old friend.
PLEASE publish the words of “La Mesa Living”…that’s a gas…a song about La Mesa??? No way!
I love the outline of this post. Unique original content with a little bit of soul. All right.
Rose — Thank you — Every now and then I show a little skin.
Jeff,
Actually, I think the song is called: La Mesa Lifestyle – but the beat is the same. Now, if I can just get down all the lyrics…
The lyics, Sean, begin with — “Everybody’s watching Sean…”
Gotta love Santana! All this lending crisis is just another mess the goverment has caused and don’t worry they will help themselves and all will return to normal.
For the few who have suffered and lost there homes it was a bad choice of a loan and one of those life lessons that easy is not always best.
For all the rest the markets full of inventory and realtors gain.
For all the rest where are you spending your $600.
Saw a great Pat Methany concert last night life is good.
Jeff,
You never miss an opportunity.
I’ll bet you are a real SoB in the gym. No excuses, no backing down & no whining!
You called it right, Sean. In fact I’m now paying the piper, working out with Josh. His mercy gene isn’t operative while working out.