[quote=AN]BG, lets take a step back and see what you said:
[quote=bearishgurl]Fundamentally, there is no reason for a 1980’s MM tract home to cost $400K+.[/quote]
This Bannister house was built in the 80s. So, you might say now that you’re not referring to the Bannister house, but it sounded like you did originally. Which is what flu and I are talking about, wrt to buying it for $300k. This house is not abutting to MM Blvd. It’s separated from MM Blvd. by a street and other house.
Most of MM are still in the $300k. So, they’re still available for FT homebuyers. However, this house is not for FT home buyers, unless you can come up with the cash.
Those three houses should sell for low $300k.
WRT rent, yes, that’s the going rate for an apartment in MM. If you’re talking about 1/1 with a garage, you have to go much higher than that.[/quote]
My statement was not referring to the Bannister tract home, per se, because it was built ’86 and on the western side (which was unbuilt at the time of the development of Black Mtn Road area) and had what appears to be an upgraded roof. However, I think $400K is a little too high for that one as well. IMO, it is worth $375K to $385K, but it recently sold for what it did.
It is possible that, like both you and brian both said, living in MM is a draw to workers in the Sorrento Mesa area because they would not be freeway-dependent for work purposes. I was simply stating that the construction quality of early MM is not equal to the construction quality of tracts in other parts of the county which are the same age. The construction quality is lesser in early MM, IMHO.
I’m glad you agree that there is a lot of FT buyer inventory to choose from in MM, whether currently listed or not.
