[quote=jpinpb]Yes, BG repeated similar sentiments on the Point Loma thread. I tend to agree w/you pemeliza. I think prices are returning to what they are worth w/out the tricks and manipulations involved.[/quote]
jp, several active and sold listings in Pt Loma that I perused yesterday had not been on the market in more than 50 years. Two or three of them were over 65 years old and NEVER SOLD! I also saw at least a half-dozen well-located “probate sales.” I don’t keep my pulse on this market on a regular basis but I haven’t seen the “pickings” for well-located fixers THIS GOOD since the mid-nineties! 90% of the fixers sold in VERY SHORT ORDER, most likely in all-cash transactions. These buyers obviously understand the concept I am trying to get across here.
I think the inventory in 92106/92107 is very good right now, and may get even better in the coming months.
Once the “fixers” on a particular street you may have been tracking for many, many years all get sold and rehabbed, the party is over for a mid-range homebuyer ($500K to $850K). Those quickly snapped-up (view) properties very often get permitted room addition(s) and as future listings, become too cost prohibitive except to very deep-pocketed buyers.
You only go ’round once in this life and it is always beneficial to be in a position to take advantage of lifetime dreams when they present themselves. Due to many factors, you may never get the chance again.
