FWIW I said houses I have seen but I went back and checked that one.
First off it was listed at $399 not $350 and had been reduced from its original listing price of $475.
Second, in 1997 it was a 2BR/2BA 1400 sq ft home built in the 1950’s. It is now a 4BR/3BA 2400+ sq ft home that looks like it was re-built from the ground and expanded. Its not close to the same house it was in 1997.
Third, your comment was for SD houses not some small niche of the market which may have appreciated far more than normal.
FYI, my point of reference is the townhouse I bought in Encinitas for 190K in 1997 which never, even at the absolute peak was 3X’s that. Wish i still had that one though, it would be cash flow positive at least $500/month if I had.
