[quote=bearishgurl]
That’s crazy, CAR, can I ask you where you are looking to buy? These types of homes seem to be sitting down here unless they are a complete and utter wreck and can be bought for a song on the courthouse steps (usually by a general contractor or principal that has one chained to their ankle).
The young people STILL seem to be flocking to the newer far flung neighborhoods in Chula Vista with tiny lots, even though some streets are now a “foreclosed ghost town.” The banks are cleaning these up and selling them fairly quickly for about half their “bubble-era” purchase price.[/quote]
BG,
We’re looking mostly in North County Coastal (apparently, one of the “bullet-proof” areas, as would be our luck), but also keeping an eye on Escondido and, to a lesser extent, Vista — because Vista and Esco have these types of houses and lots, whereas they are few and far between near the coast.
If you can find these homes in the coastal cities (and we’re looking about 5 miles+ inland, so not trying to be “beachfront”), they are selling for top dollar, even if they are essentially tear-downs. If you can find them in non-gang territory in Vista and Esco, they are also still going for top dollar. So…we wait, and wait, and wait. 🙁
