Neighborhoods Considering: Mira Mesa, Clairemont, Linda Vista, Serra Mesa.
Condo/House: SFR
Price Range: $300K – $350K (No, that’s not dreaming. Check your Zillow.com charts, it’s the pre-bubble price. Also, to follow the 3x annual income rule, family households would need to earn about $100,000/year to actually afford even a $300K house. Also, if you look at a home price appreciation graph (again Zillow graph works) and extrapolate the “normal” appreciation line (say 1996 – 2001) out to 2007, the line will be near $300K today. All indicators point to an average price of $300,000 in the normal (i.e. not Encanto) average family neighborhoods.)
Size Range: 1200 – 1500 sf
Currently: renting cheap apartment
Shopping the Market?: More like watching the market. “Shopping” would imply willingness to buy, but we are not willing (or able) to pay the current insane prices.
