These home sellers on Dwane Ave in Del Cerro seem delusional. $1 million plus for these mediocre homes? And if someone could rent a million dollar property for $4500 a month (which is outrageously high, I agree) why buy? Many of the homes have been on the market for a long time, when is it going to occur to them that there’s been a titanic shift in the San Diego market? Flippers pushed prices too high and Del Cerro like all the rest of the neighborhoods that were pushed higher either directly by speculators or indirectly through “comps” of other areas. How long can these home sellers wait out the market? You’d have to be borderline retarded or too rich for your own good to offer anything close to asking price in this area. Unless the sellers win the game of chicken we’ll soon see foreclosures by the people selling who are in over their heads. Then the banks will price these homes to sell.
