radelow – I think the desirable areas of Point Loma will be sticky for a while. Your Bay Park neighborhood is finally seeing some lower selling prices recently (probably linked more with Clairemont which has a decent amount of inventory, and more affected first). I used to live in BP and CLMT and want to try to keep a pulse on the rents and prices, with the hope of re-entering the market there at some point. (I sold in 2005).
How much are you paying for rent there these days (if you don;t mind) ? Or what are the ranges for typical props (e.g. 3/2 1500 sf no view, or 2000 s.f. with Bay views).