jp the pent up demand varies not only between zip codes but within zip codes as well. You cannot compare a wateridge condo to a detached home in pq. That is not an apples to apples comparison. There were 2 offers at 380k and the trustee sale may have already happened as the sales agent was not sure because the asset manager did not call her back. The 380k offers came in quite quickly but the lender took their sweet time processing them… big surprise eh?
The point that sdrealtor was making is that pent up demand is indeed present for certain homes in certain neighborhoods. This pq listing was a perfect example. Several other listings have been on the market in that area and have sat and sat forever. So this Cal Property Investments comes in and slams everyone with close to a 30% undermarket listing and gets SWARMED ON.
Anyways is there pent up demand for sfh in PQ? Yes there is. Is there pent up demand for sfh in Logan Heights? No there is not. Nor is there pent up demand for a wateridge condo until it pencils out as a rental.
I have seen many listings come on the market in Mira Mesa with some pretty crazy pricings… SFH homes in the low to mid 300s and they all seem to have offers on them as well.
I could not agree more with your point about price it correctly to sell and forget about the loss… Some banks seem to get it, some don’t. Depends alot on who does the BPO for them.
