So if the 6462 Norman Ln sells at $900,000 does that mean the new price point for similar homes is less than $200 psf? 6462 Norman last sold in 2003 for $860,000 and supposedly has had extensive upgrades since. So is this property unique or are we back to 2003 pricing in Del Cerro? Are the current million dollar properties priced at “wish” prices with over 50% higher psf prices? I have to believe yes. To me 6462 Norman is superior to all those properties on Dwane Ave currently for sale. It is definitely much larger. How eager are the owners on the Dwane Ave properties to sell? We’ve seen price collapses in formerly million dollar homes in Chula Vista, so will a savvy San Diego buyer be willing to risk a few hundred thousand and bet that Del Cerro won’t collapse as well? Banks have lost their willingness to lose on real estate too. Caveat emptor
