[quote=thejard]I have a hard time justifying some of the prices in Chula (west 91910, 91911) that I see they are going for compared to just a year ago. Maybe we missed the boat?
In fact, we took our savings and plunked it into debt. But, because I really want to own I keep obsessing about this!
I just feel very deflated when it comes to me trying to get into something. Is it different this time? Or will there be a dip sometime in the next 5 years?
Spending that kind of money on something terrifies me lol; I’ve been driving the same car for 14 years now, so spending more than a $1k on a single thing scares me![/quote]
Uhh, thejard, these were all good buys with the first one being the best buy and I haven’t checked but all likely sold for all cash at these prices. (If I could stomach acting as my own property mgr, I might have purchased one of them.) All are completely walkable to all with multiple public transportation choices within 1-3 blocks walk with your 3rd sold comp link being the most conveniently located. All are in very safe, walkable, bikeable, skateboardable neighborhoods with mature-tree-lined sidewalks …. great places to raise a family!
Your first recent sold comp link for $305K on 1st Ave just north of G St is located on a very good street in a great area and has the typical 9700 sf lot of the area (up to 1 AC lots exist on 1st Ave and up to 2 AC lots exist on 2nd Ave in this area). Within 1.5 to 4 blocks of this home are dozens of homes valued at $850K to $2.7M (incl “move-on” Mills Act gems). This listing is directly adjacent to a very stately, shaded and beautiful area . . . absolutely THE “crown jewel” of Chula Vista.
Your second recent sold comp for $320K is a good-sized house, just one and two blocks respectively from two different bus lines (the stop for the one-block-away bus line is just one mile from the trolley stn). The subject is just 6-8 minute walk to Hilltop HS (taking the shortcut) and a 7-8 block walk to a regional mall anchored by Sears (incl BIG auto center), Macys and JCP. Much of Shasta St is overly obliterated with power lines but not this particular section.
Your third recent sold comp link for $340K is incredibly conveniently located, yet still very quiet. The houses around there have an average space between them of 20-30 feet, with the homes on adjacent 2nd Ave sporting an average of 35-50 feet between them. This home is on a very well-kept street sandwiched between the prestigious SD Country Club area (5-6 blocks to the east) and the reknowned Del Mar Mills Act corridor situated 1 block NW of this home on Del Mar Ave. A fabulous location, 1.5 blocks to large post office and cleaners, 2.5 blocks NW to Albertsons, 2 blocks to Fresh n Easy, 3 blocks to Sprouts and 7/11, and to the SW, 2.5 blocks to Wells Fargo, Haggen (fka “Vons”) and CVS. In addition, there are three large medical buildings in the immediate (2-3 block) vicinity, including a Quest Lab and numerous doctor’s offices. The South County Courthouse, County ARCC, and several banks are located 4-6 blocks northwest, J St Marina/boat launch just over one mile west and same regional mall as above is located 7 blocks NW of this home.
I’m not sure why you didn’t place offers on these properties if they were in your price range, thejard. I don’t think these prices will ever come around again, ESPecially if the new owners significantly modernize and/or improve them.
Perhaps your agent didn’t know the area well (or didn’t know what they were really looking at)?
If any of these three buyers took out 80%+ mortgages, then, IMO, these listings were absolutely the best an end-user buyer (taking out a mtg) could do at this price point in SD County.
I seriously doubt any of them went FHA, which has never been very widely used in SD County.
It doesn’t get any better in Chula Vista than those (April 2015) sold prices you linked here, thejard. Thanks for sharing them!
