Late Bloomer Wealth

Year-to-Date Portfolio Report 2020 Q1-Q3

I am so late in getting my Q3 Year to Date Report. Interestingly, despite being forced to stay home you might think that I would have “extra” time to get this report out at the end of the third quarter, September 30, 2020? No, it doesn’t work like that. This is 2020. The pandemic with all of its implications, social/racial unrest, and the election takes a lot of energy. But there is an additional reason:

We Are Moving to Long Beach!

Since my Q2 report, last July, Georgiana and I decided to move to Long Beach. We have been feverishly searching for a residence or condo. My Rancho Mirage home is spacious and homey but there are two continuing problems.

  1. Major problem. It’s a five-year story but I will cut it short. The Home Owners Association is dealing with a new owner of the golf course and it has not been favorable. We are currently in a settlement that will require an additional 110 new homes on the golf course with a new boutique hotel where the golf course lodge is now. If an investor/developer bought it now, it would take another five years to finish the current plan, building new homes (and selling them), a boutique hotel, and revamping the golf course. In the meantime, the HOA fees have almost doubled because we have to keep the golf course maintained. I want out.
  2. My swimming pool. I hardly ever use it. The costs of maintenance and energy are about $2500 a year.  When Dan and I moved here in 2008, we thought that the swimming pool could be used for more months than just the three desert summer months! We used the pool heater once when the family came for the holidays at a cost of $200.00 in gas! (only for three days). Furthermore, my pool is going to need resurfacing of the interior costing between $10,000-$20,000. This cost is hideous and pointless because I already have access to the community pool that is heated year-round with a jacuzzi! Never purchase a home with a private swimming pool, especially in a condo community!

But I am looking forward to moving out of the desert and back to the Los Angeles area. Both of us will not miss the summer heat but we do miss the culture of Los Angeles, the center of it all! We both lived and worked in the Los Angeles area for decades, so it’s like going back home with friends, former work colleagues, and relatives.

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