Not happy with the counter offer they sent you?

non they are thinking what alot of sellers are thinking.

All it takes is one buyer to come and buy it…Also have you checked to see if they pulled cash out of it or refinanced? They may have a larger debt load then you assume.

Politely tell them thanks but no thanks and then check in with them a few weeks later. Alternately have your realtor send the listing agent comps and ask them what justification they have to get such a premium. The market will dictate if they are being outlandish.

SD Realtor

You’re going to get excited over a $25,000 difference in offers? You can easily make that up with concessions.

I would tell you if this was an outrageous price, but from looking at the sales in the area I can definitely see where the seller is coming from. The photos depict a very nice kitchen remodel and back yard improvements. Its true that there is a pretty big range of pricing in the area but the lower priced homes don’t appear to be as nice.

Did you check out the closed sale at 1811 Friedrick? Same side of the street and a similar sized house. Not quite as much curb appeal if the photos are an indication. Somewhat inferior kitchen. It just closed at $550k. It’s definitely a comp any appraiser would be looking at.

Counteroffers are made to be countered. If you’re serious about the house try going to $560k and see what happens.

Since no one else has mentioned it, I will:

Who the hell would pay $550K to live in South Park???

Sure, gentrification is creeping in that general direction, but it’s still a fairly rough neighborhood on a block-by-block basis. I guess it must be a couple of DINKs, possibly hipsters who want to live as close to downtown as they can afford?

I’m not saying South Park is unlivable, but I’d definitely prefer to rent there than buy, but maybe that’s just personal preference. My friends wouldn’t touch Mira Mesa with a 20 foot pole, but I find it inoffensive.

South Park is comin’ along. It has a cool business district on Juniper east of 30th. Lots of nice homes along the Burlingame fringe – well-maintained, built in the 30s and 40s. Big, beautiful homes are on Capitan and Laurel – several on the national list of historic places.

In Nov 2005 we were in escrow on a house on Fir on the other side of Fern, 2865 Fir between Granada and 29th. We canceled 2 days in because of the airplane noise, and the fact that its a tiny house on a tiny lot (780sf/2600sf lot). All that area is under the flightpath, granted its less noise than further west in bankers hill. We’ve been renting elsewhere in North Park ever since, and its the best financial decision my wife and I ever made! The house sold a few months later to somebody for about 10K less than what we offered.

We are renting way more house in Burlingame (nicest part of South Park) for much less than what our monthly costs would have been for that dinky little house on Fir. South Park is definitely an up and coming neighborhood, but lets put this into context- home prices in San Diego are ridiculous everywhere, even in the cool, up and coming, fashionable places like South Park.

I’ve been keeping my eyes on this place which is 1 block over from where I live:

3151 Palm St, 92104 Sales Prices
10/03/2006: $755,000
08/24/2001: $441,000

These folks bought it in Oct, fixed it up a little, and tried to rent it for about 3 months, gave up and put it back on the market. I hear they were trying to rent it for $2600. Now they have it back on the market for $799-$889, the $799K being conveniently 6% above their purchase price so they can cover broker fees. MLS says its pending, but its been that way for over a month now, and I’ve seen no activity that somebody new is in there, and there is still the prudential realty sign out there without any indication of a sale (“In Escrow” etc…) A comparable house right behind this one on Olive st sold for 680K in June 06. Are these guys kidding???

While the points about not disrespecting someone’s community are valid, throwing up a post about a potential purchase deserve honesty. The flight path noise in the previous post is a prime example of something a buyer might not know. The comment about how the area is “block to block” is also helpful, maybe the buyer didn’t wander far or at night. It is also helpful to hear the opinions of others because opinion drives the market and negative opinions of certain areas will minimize possible buyers.

My .02 is that at the beginning of a downturn (right now), stay clear of the battlelines of redevelopment, that tide can turn and the frontline blocks fall first. At the beginning of the next upswing the fringe and even a few blocks beyond will become good investments again.