NORTH PARK (92104) SFAMILY HOMES NOW AT 2005 BUBBLE PRICING.

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Submitted by sobmaz on November 7, 2009 - 6:30pm

My hats off to Realtors, the Fed and our Democratic controlled Government, they have successfully reflated the housing bubble in growing parts of San Diego.

How high it goes is anyone's guess but it will crash again someday. With the FED at war with Savers that someday might be after I die of old age.

As an example, recently I went through a slum house (very ugly curb view) that had some ceramic tile put in the bathroom, newly installed wood flooring that they must have got a great deal on because it was warped and oh, the house is next to a school football field. 2bed 2 bath 1300sq feet, 2 car garage and they are only asking 575,000!!!!

Yep, I voted Demo but there is no doubt in my mind the Government would be at war with savers weather Demo or Republicans are in office. How else could the bankers be bailed out?

By the way, I know the example I gave hasn't sold yet but other houses are currently closing at late 2005 pricing.

‹ Fannie Mae & maximum debt-to-income ratio. Real Estate Model Is Broken - Property Virgins ›
The abbrevaition "SF" in the
Submitted by Russell on November 7, 2009 - 6:46pm.

The abbrevaition "SF" in the title to this thread stands for San Francisco now.

Libertarian 2010!
Submitted by mike92104 on November 7, 2009 - 8:40pm.

Libertarian 2010!

Not looking at hard data as I
Submitted by urbanrealtor on November 8, 2009 - 11:20pm.

Not looking at hard data as I write this but this is the area where I live and specialize in.

It seems that the SFRs in desirable uptown neighborhoods have a relatively less elastic demand curve than most of the county.

Prices there seem more like 2007 than 2005 but again I am not looking at data as I write this.

Simply put, prices don't really need to drop there much for desire and easy lending to create effective demand.

Thats why anything with a second commode (like even in the garage) gets an extra 100k in value there.

North Park, South Park, Univ
Submitted by ctr70 on November 9, 2009 - 8:40am.

North Park, South Park, Univ Heights...definately did not take as big of a hit as a lot of areas (like Eastlake for example). Even the 1 bed condo conversions in the better areas of np/sp/uh are creeping up in price.

I've seen non-flipper normal buyers who bought condo's in 2008 that can now sell and have enough room to pay 6% to Realtors + bank a little cash from the sale.

The bottom was in that brief period from spring 2008 to early 2009. Now it is multiple offer city with seemingly no end in sight.

"oh, the house is next to a
Submitted by toots on November 9, 2009 - 1:56pm.

"oh, the house is next to a school football field. 2bed 2 bath 1300sq feet, 2 car garage and they are only asking 575,000!!!!"

You must mean this one. Such a deal. They've reduced the price a couple times.....you mean you don't think this is worth 0.5 million +??? If you have sons, they can walk across the street to St Augustines!

http://www.sdlookup.com/MLS-090055280-28...

The asking price seems to be
Submitted by JordanT on November 10, 2009 - 3:52pm.

The asking price seems to be a bit too high as it hasn't gone pending yet. It's also $100K below the 2006 sold price, so it's not like that's peak pricing either.