[quote=JohnAlt91941][quote=sdrealtor]But the distressed sellers dont have to take distressed prices. The homes arent selling at bargain basement prices. They are getting bid up to retail and more than the comps in many cases. Sometimes they do go cheap like in that case. Having seen everything in MM the last month that house blows away what I am seeing get multiple cash offers at the same price every day.
Longtime bears want to beleive its a buyers market out there but any one who is out there trying to buy something knows that could be more false.[/quote]
Written like a true cheerleader.[/quote]
It’s not a cheerleading at all… It’s a fact. I’ve been looking in MM and RB for rental property …..It appears what’s pushing for a lot of buying interest….Much higher rent…Folks looking for rental property are out looking, and folks looking to avoid paying ridiculous rental prices are out there looking….
Back on the CV condo versus UTC condo thread, I ran though the numbers at a particular complex…. Although at CV it still didn’t pencil out at all as a rental , the fact that with a 20% down and current price and current interest environment you can pencil in any type of small of positive number in Carmel Valley was an eyeopener for me. I haven’t seen that in a long time….
Then when I checked at some rental prices. Man, now I know why qualified buyers and qualified investors our out in full force.
Rent…
$1200/month for a 1bedroom in mira mesa?
$1500/month for a 1bedroom in Carmel Valley?
$2300/month for a 2bedroom in Carmel Valley?
$4000/month for a 4-5bedroom in Carmel Valley?
