[quote=pemeliza]I think I am between SDR and BG. I share BG’s views and tastes on what constitutes a great property here in SD. However, given how many great properties we are seeing selling at great prices I wonder if the market isn’t trying to tell us something. I do think prices around here are still very high relative to rents and perhaps these older homes in great locations but weak school districts are going out of favor as SDR suggests.[/quote]
pemeliza, I just think that Pt. Loma is “shaking out” from the 2nd’s and HELOC’s taken out in recent years for rehab. I can SEE from the listing photos that most or all of this $$ was probably spent on rehab (in most instances). And a few NINA buyers who were not qualified to buy in the area in the first place are being driven out by exploding mortgages.
SDUSD, in and of itself, is not “weak.” Dana & Correia MS and Pt Loma and High Tech HS are not “weak.” Two to three of the elem schools in OB/Pt Loma (that DON’T serve a transient rental and Navy population) are very good.
It won’t even matter if young families are driven away from this area by their erroneous “perceptions” about the schools. This particular “niche” market is watched by many, many potential buyers from all over the world. These buyers, however, may likely NOT be “nuclear-family buyers.” The “type” of buyer matters not. Everyone’s US dollar is worth the same amount.
