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Discussion Starter #1
Just called Harry at SVAG to drop off the list :(

I'm moving into a house that costs a lot more than what I have originally planned for. And I would also need to budget for next year's wedding, not-to-mention the home decorating costs. So I figure it won't be financially responsible for me to lavish myself with a new car at least for 2 years or so.

My current combo of '97 Boxster and '02 WRX are actually a great combo. The Boxster still looks sharp after all these years. It still handles great, and sounds awesome. The WRX has decent utility value, and is a very fun car to drive on a daily basis, besides keeping the miles and hence maintenance costs low on the ageing Boxster.

I was #138 on the list so I doubt that would bump anyone up the list.

3-4 years down the road, I might be on my Elise hunt again. Maybe by then, there will be some used ones available too. Of course, these days, it's harder to predict where you will be at 3-4 years later.
 

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Geeze, at # 138 you've got plenty of time, why not just keep your name in ? The 2 year estimate and # 138 probably not that incompatible, I would guess.
 

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You should just stay on the list (unless you really need the deposit back). #138 might be a 2-3 year wait anyway depending on the dealer allocation.
 

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Given the prices in the valley, having to bid on house can cost a little extra. New home and wife, can get expensive. ;) My guess at 138 your number would have come up in the next 1.5 years.
 

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LarryB said:
My guess at 138 your number would have come up in the next 1.5 years.
By which time the value of your new home will have increased more than enough to buy an Elise or 2 or 3 or... :rolleyes:

Silicon Valley Real Estate experts are expecting housing prices to go up at least 10-15% in 2005. That means an $800K home will be worth about $900K. How do you spell refi to buy an Elise???
 

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Discussion Starter #6
Too bad. It's already a done deal.

Certainly good to see the prices appreciate movinh forward. The price on my old home doubled in 6 years which contributed handsomely to getting this new one. But as with the way the world is changing rapidly, things can unravel quickly too. I figure with less liabilities, I can have more cushion for taking a riskier career move like joining a startup.

BTW, Harry did mention that they have delivered 12 cars so far, and are expecting to complete delivery of the first 40 by 1st quarter next year.
 

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There is the very real possibility that in a year or two, the wait list will be short or nonexistent. Good luck with the home!
 

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Randy Chase said:
There is the very real possibility that in a year or two, the wait list will be short or nonexistent. Good luck with the home!
That is true. On the other hand, you could save a bunch, elope to Europe for a fraction of the cost, have a blast and an adventure and still have left over for the Elise. Just a thought. Good luck and congrats.
 

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khamai said:
By which time the value of your new home will have increased more than enough to buy an Elise or 2 or 3 or... :rolleyes:

Silicon Valley Real Estate experts are expecting housing prices to go up at least 10-15% in 2005. That means an $800K home will be worth about $900K. How do you spell refi to buy an Elise???
Are you guys nut or did you guys forget the dot com bubble already. You are already spending bubble money that has not been inflated already.
 

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Housing in the valley hasn't really been hit. For the first year a slight dip. In the last few years it gone up past the peaks. We've lost alot of jobs but there still a fair amount of money around.
 

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LarryB said:
Housing in the valley hasn't really been hit. For the first year a slight dip. In the last few years it gone up past the peaks. We've lost alot of jobs but there still a fair amount of money around.

If the outsource trend continues (which I am sure it will), then who is going to make enough money to support the oversized mortgages? Real estate is a bubble and granted the government is doing a lot of things to keep the bubble from popping. The latest gimmick being FNM is test piloting 40 year mortgages in Chicago.

Speculate if you want. Nothing wrong with speculation, I suppose.
 

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Nobody knows exactly what will happen, but it's not rational to expect home appreciation to be sustained at current levels once interest rates go up (and they will go up). At best, look for a long period of near zero appreciation, if not a 20% plus drop in value. Just my opinion, but I'm betting a lot of money on it.

As it is, only a small fraction of the population in CA can now afford a 'median' priced home in the more dense areas.

Houses in L.A. are now double the price they were five years ago. What has REALLY changed? Interest rates, and the mass delusion that homes are a sure way to generate wealth rapidly. Bubble anyone? There is a lot of personal speculation out there, and far too many are in way over their heads.
 

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Buying real estate as a means of making money is more in the line of speculation. Doing so as one's home is a little different. Heck renting vs buying is speculation. Brought my place the last time the housing bubble burst in the valley(10 years ago)... sure another one will come it goes in cycles.
 

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Great read on the Vegas situation, thanks!

25% drop in value in less than a month, and the number of resale homes up over 1000%!!! Incredible. Now that bubble has popped. Next...
 

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cxcheng said:
Too bad. It's already a done deal.

BTW, Harry did mention that they have delivered 12 cars so far, and are expecting to complete delivery of the first 40 by 1st quarter next year.
12 CARS?!?

I don't know about that; as far as I had figured with other posters on this forum, SVAG has received 6 cars. They have been "invoiced" for 11 by last count but that doesn't mean they've all been delivered.

could this just be an attempt to get you to keep your deposit with them? 1st quarter next year is 5 months away so they better pick things up if they expect to have 40 cars delivered by then...(not that it's necessarily in their control)
 

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LarryB said:
Given the prices in the valley, having to bid on house can cost a little extra. New home and wife, can get expensive. ;) My guess at 138 your number would have come up in the next 1.5 years.
heck, at the rate cars are showing up around here, #138 wouldn't arrive until the next model arrives!

ha!
 

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Re: LV real estate market: ouch ! I know a guy who just closed on a place there. But still, I'd say if you're there for the long haul, it's still a good bet (sorry about that...):D
 

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mikester said:
Re: LV real estate market: ouch ! I know a guy who just closed on a place there. But still, I'd say if you're there for the long haul, it's still a good bet (sorry about that...):D
The guy that you know already lost 100K, and he did not get free buffets and comp hotel suites.
 
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