Its 86 price in today’s dollars is 233k…it just closed for 485k.
So either San Diego got a whole lot crappier thus making Clairemont a more attractive neighborhood by comparison to all the other parts or everyone in SD makes a lot more inflation adjusted money money thereby doubling the value of everyone’s home, yet not improving the quality of the homes (a dubious supposition). Either that or that chart is not representative of Clairemont…[/quote]
Heh, heh, heh.
jstoesz, your link (above) refers to one of the infamous “92117 attic-less dry-rotted drogan-like shacks” I counsel people NOT to buy!
What you are looking at here is a complete remodel in 2007 which increased its “footprint” more than 1100 sf!! READ the PFL. They ALL need it on that tract … lol!
This home, back in ’86, (your “reference year,”) was a 1275 – 1300 sf 3/1 and was NOT a comp to its “sold comp” today that you furnish.
Again, apples to oranges.
My area in 91910 is comprised of large customs of various ages and several tracts of 48-65 year-old “WWII boxes” and “Ranchettes.” On my particular tract, there were only two models built as new, a 2/1/1 (1188 sf) for $4,400 and a 3/1/2 (1488 sf) for $6,600.
Yes, those were the prices, all on generous lots. Corner lots (up to 14K sf) were $7,400.
Nearly 10 years ago, I paid 52x the as-built price for my house but I’m over it!! Not only is it not even the same house as-built but I wasn’t even alive back then!
To look at my tract now, you can’t tell a good portion of the 2/1/1’s from the 3/1/2’s anymore! Even the houses which do not have a changed footprint now have a rock facade, new siding, vinyl windows, shutters removed, fireplaces added, brick part way up, etc. Most lots are good-sized and many now have detached garages, two stories with balconies, 4/2/2’s and 5/3/2’s sitting on them.
It’s no longer the WWII box tract as-built.
This is also true in Clairemont and any other 40+ year-old community we wish to study here.
Rich’s chart refers to properties and community demographics AS THEY ARE TODAY, not what they were in ’86.
