I’ve been seeing a lot more reasonably priced inventory in 92109. I’d be surprised if 1235 Chalcedony sells for 776k. Chalcedony is a good street. Maybe they can get 700k for it. But I wouldn’t do it. I think SFH in PB should be around 600-650k. I’ve complained about PB before. It is congested and the infrastructure can’t support all the new development. I continue to see SFH being purchased by buyer agent Kathy Evans, which means her developer partner is going to throw up 4 to 6 more townhomes. People have to put up w/a lot in PB besides the traffic and water/sewer main breaks (they had another one just recently). It’s not in a good school district. There are more and more negatives than positives in PB and it’s really hard to justify those bubble prices. The City is cutting back more and the means less cleaning of the beach, not to mention the homeless and drunks. I just can’t even imagine paying that much for a place in PB right now. Yet I’m sure it will sell. I just hope KY is used during the transaction.
I’m more offended by 740 Balboa LP $1,059,000. I mean, seriously. You can get a reallly nice place in PL or sdr’s Nirvana for that price. Redfin says, This home was sold at a foreclosed. for $251k. Don’t know if that was third party or if there were any other liens or encumberances against the place, if that was only the 2nd TD. In any case, a million for that place is outrageous, IMO. OPP is selling some nicely built places in that price range over there.
