San Diego Housing Market News and Analysis
Short-Sale dealings in Encinitas (Jerrilynn)
User Forum Topic
Submitted by Nicole on April 10, 2008 - 8:43pm
I already know that no one here is in favor of buying, so let's skip through all that for now. I previously posted another thread and already went through the lashings already :) Actually, all the advice was really very helpful and helped put somethings into perspective for me. After some of the advice, we withdrew several offers and have been really choosy and trying to be patient.
We did however leave one offer in on a short-sale in Encinitas (1615 Jerrilyn- SD REALTOR- Do you know it?) We LOVE the house!
First off, its 2300 sq feet 4/2.5 and is located just SE of the encinitas blvd/El Camino Real intersection. The asking price was 699K. Currently we are one of two offers which the bank has accepted. The bank is now asking for both of us to come back with "our final and best offer"
Ugh, a bidding war, ridiculous. We might just walk away (or re-submit the same offer), but I really want to get as much info as I can about it before we decide.
Could anyone tell me what they think the current market value of this house might be? Also, if you took your best guess what will the market value of the house be in 1yr, 5yrs, 10yrs? I know its difficult to say, but your opinions are valued. I'd like to go in with my eyes open about how much this area will likely be dropping.
If you must take a few kidney shots at me for buying now, go ahead, i'm relatively thick skinned :) BUT, after you berate me, if possible please respond to my questions :)
apologies for the length
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