What do you mean they’re being out-bid fast? I live off of Calle Cristobal (the North-West area of Mira Mesa, probably the most desired part of it) and houses as well as condos have been sitting for sale for MONTHS. Where is all this “fast” bidding taking place? A side note: I have personally experienced one of the sleezy tactics realtors use to drive up prices. They “close” at above-asking-price but they have an agreement with the buyer that they get cash back after the sale. For example, my neighbor wanted $640k for his house, the buyer and his sleezy agent came in and offered $700k with an agreement that the seller will give $60k cash back after the deal. That way, the buyer gets an additional $60k loan from the bank (that he wouldn’t have qualified for if it wasn’t a home loan), the seller gets his asking price, and the comps in the neighborhood go up because it closed on record at $700k. Thus, THIS IS A REALTOR-DRIVEN MARKET AND EVEN THE DATA YOU’RE GETTING FROM THE ASSESSOR’S OFFICE IS FALSELY ELEVATED.
