It was listed in March and finally just closed (after 8 months). That has to be a short sale. If you look at its sales history, it was sold in March of 2003 for $445k, so $420k should put it about late 2002 price. I don’t think it should be that hard to find a late 2002/early 2003 price home in Mira Mesa. There was this one: http://www.sdlookup.com/MLS-100049603-92126 that is now pending. Sold in 2001 for $445k and was listed $485,000 to $530,876, so my guess is, that range will put it around late 2002/early 2003 price. However, depending on the area w/in MM and the type of house you’re looking at, what might hard is finding the house in the area you want.
Although MM supply as a whole has gone up, depending on the type of home you’re looking for, there might not be a lot of supply out there. Example would be, there’s only 1 house for sale North of Calle Cristobal right now. If you’re looking at 2 stories houses in South West MM, there’s only 1 for sale. Both of those 2 sub areas were built before 1995 and if you look at most of them, they haven’t been changing hand very much. So, I don’t expect them to change hand anytime soon either. If I have to guess, I would say a good portion of those houses are their retirement home, so they won’t be up for sale for awhile. However, if you’re looking for more standard 3/2 or 4/2 in middle of MM, there are plenty of supply for those.
