San Diego Housing Market News and Analysis
No demand for multi-unit properties either
User Forum Topic
Submitted by 4plexowner on February 25, 2006 - 7:02am
In 2001 I owned 6 multi-unit properties. From 2002 to 2004 I sold 5 of these properties (yes, I left a chunk of money on the table by selling "too soon").
Each of these properties sold quickly at full price or better. In each sale, I had the buyer's deposit money go hard after their due-diligence period (ie, their deposit comes out of escrow and into my hands and I keep the deposit whether they close escrow or not - this ensures the buyer is serious).
I've had the 6th property on the market since June of 2005. Very few lookers and no offers.
Wow! It is really shocking to see my property sit on the market after my experience with the other 5. This is a nice fourplex in a good location and it just had a $200K remodel.
Anyone interested in a nice fourplex at a ridiculous price?
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