Grape surplus equals Cheaper Wine

[Cyberfx1024 7,980]

So @laylalex you better stock up when your favorite California wines get really cheap. If you don't you will regret it in a couple years.

 

 

 

https://www.dailymail.co.uk/news/article-8014229/Experts-predict-grape-surplus-cause-prices-plummet-lowest-level-five-years.html

[Dashinka 24,487]

Isn't wine just a version of grape juice?

[laylalex 7,284]

6 hours ago, Cyberfx1024 said:

So @laylalex you better stock up when your favorite California wines get really cheap. If you don't you will regret it in a couple years.

 

 

 

https://www.dailymail.co.uk/news/article-8014229/Experts-predict-grape-surplus-cause-prices-plummet-lowest-level-five-years.html

We are looking into it! Not only for drinking, but also for laying down. If there was ever an argument to start thinking about buying a home with a wine cellar (or buying a home and building a wine cellar), this is it.  

 

I think though that we'll probably wait a bit to buy -- my friends who deal in real estate down here say the market is cooling in the LA area, even for the top end of the market. Of course the spectacular homes will always attract big prices, but the market for "regular" houses in the $1m-$2m mark is softening. The gut feeling is that there's a mini-recession on the horizon (what I hear from Alex as well) and when there's blood in the streets, there's money to be made and bargains to be had. (Not my phrasing!!!) Also, it's 100% possible he could get transferred to New York in which case kill me now.

[Cyberfx1024 7,980]

3 minutes ago, laylalex said:

We are looking into it! Not only for drinking, but also for laying down. If there was ever an argument to start thinking about buying a home with a wine cellar (or buying a home and building a wine cellar), this is it.  

 

I think though that we'll probably wait a bit to buy -- my friends who deal in real estate down here say the market is cooling in the LA area, even for the top end of the market. Of course the spectacular homes will always attract big prices, but the market for "regular" houses in the $1m-$2m mark is softening. The gut feeling is that there's a mini-recession on the horizon (what I hear from Alex as well) and when there's blood in the streets, there's money to be made and bargains to be had. (Not my phrasing!!!) Also, it's 100% possible he could get transferred to New York in which case kill me now.

I have been seeing this as well on Zillow. I still get a market report from Zillow every month that shows the report on the 91107 Market in Pasadena. As of last month the market says it is going to go up 1.7% over the next year with the median home value of $925,600

[laylalex 7,284]

6 minutes ago, Cyberfx1024 said:

I have been seeing this as well on Zillow. I still get a market report from Zillow every month that shows the report on the 91107 Market in Pasadena. As of last month the market says it is going to go up 1.7% over the next year with the median home value of $925,600

I've started tracking homes in Santa Monica, as well as in Pacific Palisades and Brentwood. I'm pretty flexible on space -- three beds is a should (two is a must), but it doesn't need to be gigantic. Happy to live in a condo and my only requirement is secure parking in terms of amenities. Prices are... fun.  Not as bad as the Bay Area but I was raised in Burbank. My parents may be paper millionaires but that home was NOT even half a million dollars when they bought it.

[Cyberfx1024 7,980]

34 minutes ago, laylalex said:

I've started tracking homes in Santa Monica, as well as in Pacific Palisades and Brentwood. I'm pretty flexible on space -- three beds is a should (two is a must), but it doesn't need to be gigantic. Happy to live in a condo and my only requirement is secure parking in terms of amenities. Prices are... fun.  Not as bad as the Bay Area but I was raised in Burbank. My parents may be paper millionaires but that home was NOT even half a million dollars when they bought it.

I got a former coworker of mine who bought a house in the 80's which is worth well over $1.5 million today last I looked. She would regularly get people knocking on her door with offers to buy her house for $1.2 million cash. The bad thing is that it isn't updated since the early 90's. 

 

Edit. I just looked and the realtor websites have it estimated around $1.2 million. Which we all know is lower than what is usually sold as

Edited February 18, 2020 by Cyberfx1024

[laylalex 7,284]

5 minutes ago, Cyberfx1024 said:

I got a former coworker of mine who bought a house in the 80's which is worth well over $1.5 million today last I looked. She would regularly get people knocking on her door with offers to buy her house for $1.2 million cash. The bad thing is that it isn't updated since the early 90's

Yeah, most of my childhood friends' parents bought in the early/mid 80s in the streets north of Kenneth for next to nothing. A couple of them have cashed out in the past few years for smaller places still in the Valley.