[quote=temeculaguy]I was recently in Southpark (which appears to be the southern part of north park but actually on the east side of the park, not sure why they call it southpark), I liked the vibe of the area, I started thinking that after the kids head to college I could totally live in a place like this, checked out some listings and sales on redfin and holy schnikes, some people are crazy. Most of these homes are three wall knockdowns at best, to include north park. Paint and grass isn’t going to fix 60 year old houses that were low end when built, yet the prices were as if there was never a blip in the real estate world, let alone a meltdown. It was then that i fully realized the frustration of san diegans, it is as if everyone in the world got a christmas present and you got coal in your stocking. Something is wrong, the rest of the country just went through an epic half off houses cleansing, with the exception of san diego. Things rarely stay out of whack, eventually they normalize, I’d wait this one out if i were looking down there.[/quote]
We did have epic half-off (and more!) sales here in SD County. Temecula, Murietta, Alpine, CV, Eastlake, Bonita, there were screaming deals galore. A lot of people did really well for themselves buying homes in those areas in the last few years. The combination of low interest rates and good prices was rare.
Central SD is another story. For whatever reason, the area has a certain cachet and people are willing to pay big bucks for it. In my neighborhood for example, we have a lot of high-earning DINK households, many gay couples with good jobs, lots of people with no kids and no interest in having kids. They all want to live in central SD and will pay a premium to be close to the restaurants, shops, and of course the park. Because so many don’t have kids they will throw that part of their budget at the house issue. More money chasing after a basically constant supply means prices go up or at least sort of stay up when times are tough.
How long this will last is anyone’s guess. But it is still hanging in there much longer than I ever thought it would. That’s a big reason why we finally gave in and bought last year.
