YUM! Brands hiring again??

[GIVDrvr]

SoCal RE

The good times have already stopped rolling in the SoCal housing market. Many parts of OC and SD are flat or down in price. In many areas the house for sale inventory has gone up five fold since last spring and that growth is accelerating. House inventory is the key to price since as a house goes unsold the likelyhood that disillusioned sellers will accept less increases dramatically. North SD county is down 10% since peaking in August. Ocean view homes on my block that sold in mere days last year sit unsold for months now even after several price reductions.
Some local agents I know think this could get much worse if the economy slows or if interest rates continue to rise which of course they will. Many buyers in SoCal are in their homes via hybrid mortgage products like 10 year interest only no money down adjustable rate mortages. With rapidly rising payments and negative equity many of these folks could just walk away from their properties like they did in 1994-1996 when real estate in this area fell 25%. Of course this is California so any dip is really just a buying opportunity long term.

 

[English]

OC and SD were overpriced to begin with. Try San Bernardino, Riverside counties - fastest growing region in the state is the Inland Empire. Home prices aren't going down there.

 

[capt601]

English, I agree, there is know reason that someone should not be able to afford a home. I think the problem with most people is coming up with the typical downpayment. Even with 3-5% for a first time buyer you are still looking at $25-50000, which is tough if you did not save up for it. Much easier to come up with $10000 to 20000 for a house in other areas of the country. I was lucky in that I moved from a house on the east coast and was able to use some of that for a downpayment. My home in just 1 year and 1 month has already increased almost $175000, and the market is still going up, (just a whole lot slower than it was before). i am sure the market will stay steady or drop, but I have planned on it. Some people sadly expect it to continue at a 20-30% pace as long as they live here.

psysicx, you are right on the foreclosures. My first place in florida was one and i did pretty good on it when I sold. The amazing thing out here that I have been watching is that the foreclosure rate is still extremely low. i believe it is much less than other areas in the country, so it is tough to find one. I think people jsut refinance and get into more debt, so maybe a few years from now I think it will catch up and there will be great deals on foreclosures out here.

Reepicheep, no that is not correct, i just think it is tough for someone who comes from an airline to adapt to a corporate operation where they have to get involved with things. I flew with a retired airline pilot in florida and he was one of the most eager learners to the charter world that I have ever come across and probably the best pilot I have flown with and learned from.

English in regards to the schedule I really do not know Conagra schedule. I think the only person I have met there is Chip their technician, their pilots do not seem to talk to others much. Personally, I think our schedule is great. We have 4 pilots and we are usually scheduled as a crewmember 1 week to a month ahead of time. I have flown both corporate and charter and am home much more than I have ever been. So much that my wife usually is asking me when my next trip is. We all usually fly about 400-450 hours per year. I think I will be doing around 70 overnights this year, but don't quote me on that as I don't have my duty log in front of me. But that includes 1 two week long international trip.A lot of the trips are to SDF and back, which adds to the flight hours rather quickly.

Roadie, i apologize for thinking your friend was at an airline now, I reread your first post and I have a good feeling who it is. As I said before change is tough on some people; and as to the former chief pilot in SDF wasn't he the one who took out the NZ2000 out of the 601-3A and put in universal and basically butchered that plane? i think many other people have a different opinion of that former chief pilot than your friend, but I never met the guy so i wouldn't know anyways.
I think all of our departments our completely different and that is what makes corporate aviation so unique and hard for some people to fit in.

 

[HMR]

The good times have already stopped rolling in the SoCal housing market. Many parts of OC and SD are flat or down in price. In many areas the house for sale inventory has gone up five fold since last spring and that growth is accelerating. House inventory is the key to price since as a house goes unsold the likelyhood that disillusioned sellers will accept less increases dramatically. North SD county is down 10% since peaking in August. Ocean view homes on my block that sold in mere days last year sit unsold for months now even after several price reductions.
Some local agents I know think this could get much worse if the economy slows or if interest rates continue to rise which of course they will. Many buyers SoCal are in their homes via hybrid mortgage products like 10 year interest only no money down adjustable rate mortages. With rapidly rising payments and negative equity many of these folks could just walk away from their properties like they did in 1994-1996 when real estate in this area fell 25%. Of course this is California so any dip is really just a buying opportunity long term.

YESSSS! I can hear myself singing the theme from The Jeffersons already... I'm movin' on up!...

 

[English]

Thanks capt601, I'll pass it along.

 

[psysicx]

If anybody in the San Diego area would like forecloure listings just PM me.

 

[airbaker]

I would be curious who your friend is, I'll bet it is someone who is now flying for JetBLue? ?!! and a previous airline pilot?

Whoa, almost sounds like me...good thing I don't have any Challenger experience!

Thank God I bought my house in Irvine, CA 4 years ago. My wife and I now can't afford to leave or else we'd be forever priced out of the market. This will sound crazy to those that live in cheaper parts of the country, but my wife and I recently checked out some model homes for fun near our neighborhood (nothing special, typical 4 bedroom tract homes) Well they're still fetching 1.1 - 1.4 million. with a priority interest list several pages long! These houses don't even have a view, and are shoved into a tiny 5000 sq. foot lots. Property taxes alone on those homes would run you 20K a year!

We think about taking our equity and running, all the time. Only problem is I can't think of where else I could surf a few sets in the morning before heading off to the ski slopes. (I actually did this a few weeks ago with our early winter storm)

Hopefully prop 13 will never be repealled.

 

[gobigred1]

Can anyone give me the number to fax in a resume. I have been looking for corporate jobs in CA for awhile now.

 

[reepicheep]

In SoCal you are not just buying real estate, you are buying lifestyle. Like the previous poster said, where else can you ski & surf the same day? Today I went for a run in shirstleeves, ate lunch in the back yard in the sun, and pitched BP to my 8-year-old in the afternoon. Try that most other parts of the country. There's a reason people are flocking to pay half a mil. for 1200 sq. foot bungalows. You will not spend very much time in the home anyway. It's an outdoor-centered lifestlye that's difficult to explain to someone reared in snow country. True it's not for everyone. For folks who want the 3.000 sq. ft. mansion back east, have at it and enjoy the home because come January you are going to be spending a lot of time there. I'll be on my patio eating tacos al carbon watching the oranges ripen and thinking about you all.

 

[2000flyer]

True it's not for everyone. For folks who want the 3.000 sq. ft. mansion back east, have at it and enjoy the home...

He he. Hah haha. HA HA HA HAHA AHAHAHAHAHHAHAHAHA

Oh sorry man. I LIVE IN A MANSION! I never thought of it that way!!!!!HAHAHAHAHAHAHHAHAHAHAHAHAAH

Pardon the sarcasm. It really just struck me as hilarious thinking my little home was a mansion! I must have gotten a steal at under $240K!

2000Flyer

PS - as for the lifestyle. I'm 3 hours from the beach, 3 from the mountains, 20 minutes to the lake, 15 minutes to town. I golf year around. It'll snow one day and two days later be back in the 70s. I'd say thats pretty darn good!

 

[2000flyer]

To CL601

In all seriousness, though I'm still chuckling at the thought of living in my mansion...

I won't speak for everyone, but I will apologize for jumping the gun in my rush to judgement that something wass amiss with Yum. I'll keep the big picture in sight before making a silly call as I did earlier in this post.

I remember talking to you a few years ago as you pursued your current position. Thanks for taking time to share with the rest of us the merits of your company.

Respectfully,
2000Flyer