[quote=SD Realtor]Yes it simply the means cut from Sandicor. Also the lag time in short sales is an important factor.

In fact in order to prove how correct you are when we look at the current ACTIVE listings in 92126 between 1300 and 1500 sf we see that things are SERIOUSLY screwed.

Current Actives = 10
Current Listing List Price Average = 402.
Current Pendings = 24
Current List Price Average = 348.
Current Contingents = 12
Current List Price Average = 332.

So suffice it to say that the area has already bounced and is continuing.[/quote]

I dont know if I see that bouncing. I see a really active market, where anything reasonably priced sells so fast it is shocking. So fast infact, that the only thing on the market are overpriced houses. Everything selling is ~350k, everything NOT selling is ~400k. (this are averages people, averages. obviously there is variation)

Oh, and you are missing a lot of mira mesa limiting yourself to 1300-1500sqft. 3/2 sfr’s start at 1120sqft. Im just saying this isnt whe whole picture. We all know, and no one is disputing, 350k sfr’s are on FIRE in mira mesa.
Where else North of the 8, South of the 78, and East of the 15 can you buy a sfr for <400k?