34% SFR loss in Pacific Beach in just 12 months

[jpinpb]

Thanks SD Realtor. I don’t have a choice but to wait. My credit is good and my debt is low, but I refuse to get in over my head. I didn’t do any zero-down, interest-only ARMs, thinking I’m doing the right thing being cautious and conservative. Of course in 4+ years have seen prices double. So discouraging.

So now that people have to prove they can afford a place, I’m hoping the prices come down to something reasonable. There’s a place on Law Street that’s listed at 1.3. Been on the market for a verrry LONG time, like a year at least. It goes off the market and relists. In any case, the guy has a NOD and it’ll take 20k to be current. Yet still has not reduced the price.

I don’t get it. W/the way the market is w/defaults and foreclosures and tightening of credit, who is going to buy that place?

[djc]

yes, PB is rather expensive for what you get. Older home surrounded by transient neighbors. It was great living there for 7 years with the beach and eye candy. If I could afford something in north PB with a garage, etc. I’d be happy, but that’s looking at 1+ mil. 🙁

[djc]

yes, PB is rather expensive for what you get. Older home surrounded by transient neighbors. It was great living there for 7 years with the beach and eye candy. If I could afford something in north PB with a garage, etc. I’d be happy, but that’s looking at 1+ mil. 🙁

[djc]

yes, PB is rather expensive for what you get. Older home surrounded by transient neighbors. It was great living there for 7 years with the beach and eye candy. If I could afford something in north PB with a garage, etc. I’d be happy, but that’s looking at 1+ mil. 🙁

[djc]

yes, PB is rather expensive for what you get. Older home surrounded by transient neighbors. It was great living there for 7 years with the beach and eye candy. If I could afford something in north PB with a garage, etc. I’d be happy, but that’s looking at 1+ mil. 🙁

[djc]

yes, PB is rather expensive for what you get. Older home surrounded by transient neighbors. It was great living there for 7 years with the beach and eye candy. If I could afford something in north PB with a garage, etc. I’d be happy, but that’s looking at 1+ mil. 🙁

[pbnative]

The house that the OP talks about is definitely odd. While they were building, I wondered who would want it. After it sold, they built another odd one right up against the first one.

We’ve been considering spending $350-400k to add a large bit of sqf onto a house in PB (a tiny old 2bd on a full lot). But I’m starting to think we’ll be able to buy another property here for that kind of money, if we just wait a few years.

[pbnative]

The house that the OP talks about is definitely odd. While they were building, I wondered who would want it. After it sold, they built another odd one right up against the first one.

We’ve been considering spending $350-400k to add a large bit of sqf onto a house in PB (a tiny old 2bd on a full lot). But I’m starting to think we’ll be able to buy another property here for that kind of money, if we just wait a few years.

[pbnative]

The house that the OP talks about is definitely odd. While they were building, I wondered who would want it. After it sold, they built another odd one right up against the first one.

We’ve been considering spending $350-400k to add a large bit of sqf onto a house in PB (a tiny old 2bd on a full lot). But I’m starting to think we’ll be able to buy another property here for that kind of money, if we just wait a few years.

[pbnative]

The house that the OP talks about is definitely odd. While they were building, I wondered who would want it. After it sold, they built another odd one right up against the first one.

We’ve been considering spending $350-400k to add a large bit of sqf onto a house in PB (a tiny old 2bd on a full lot). But I’m starting to think we’ll be able to buy another property here for that kind of money, if we just wait a few years.

[pbnative]

The house that the OP talks about is definitely odd. While they were building, I wondered who would want it. After it sold, they built another odd one right up against the first one.

We’ve been considering spending $350-400k to add a large bit of sqf onto a house in PB (a tiny old 2bd on a full lot). But I’m starting to think we’ll be able to buy another property here for that kind of money, if we just wait a few years.

[jpinpb]

I’m thinking in a few years prices will come down. There are still homes in P.B. occupied by seniors and I read on this board demographically they will be adding to the inventory when they sell, move in w/kids, nursing homes, etc. So besides the defaults/foreclosures, add to the soup the elderly and job losses forcing sale, job transfers, divorce, etc. the increased inventory w/the shortage of qualified buyers will force the price down. But it’ll take a while.

I keep going back and forth whether I want to buy in P.B. The prices just don’t justify it. 700k for a shack in P.B. or 700k in Carmel Valley or 4S Ranch, better schools, better resale value, better, cleaner, safer, etc.
Still I check P.B., just to see if there’s any deals there. I think barring something unforseen happening to boost real estate, prices will eventually come down even in P.B. I’ve seen prices come down in LJ.

You probably will be able to buy another bigger place in P.B. if you wait. There are some new ones built that are pretty impressive that in a few years will be reduced. Some people took seconds and expanded their place and now can’t afford it.

[jpinpb]

I’m thinking in a few years prices will come down. There are still homes in P.B. occupied by seniors and I read on this board demographically they will be adding to the inventory when they sell, move in w/kids, nursing homes, etc. So besides the defaults/foreclosures, add to the soup the elderly and job losses forcing sale, job transfers, divorce, etc. the increased inventory w/the shortage of qualified buyers will force the price down. But it’ll take a while.

I keep going back and forth whether I want to buy in P.B. The prices just don’t justify it. 700k for a shack in P.B. or 700k in Carmel Valley or 4S Ranch, better schools, better resale value, better, cleaner, safer, etc.
Still I check P.B., just to see if there’s any deals there. I think barring something unforseen happening to boost real estate, prices will eventually come down even in P.B. I’ve seen prices come down in LJ.

You probably will be able to buy another bigger place in P.B. if you wait. There are some new ones built that are pretty impressive that in a few years will be reduced. Some people took seconds and expanded their place and now can’t afford it.

[jpinpb]

I’m thinking in a few years prices will come down. There are still homes in P.B. occupied by seniors and I read on this board demographically they will be adding to the inventory when they sell, move in w/kids, nursing homes, etc. So besides the defaults/foreclosures, add to the soup the elderly and job losses forcing sale, job transfers, divorce, etc. the increased inventory w/the shortage of qualified buyers will force the price down. But it’ll take a while.

I keep going back and forth whether I want to buy in P.B. The prices just don’t justify it. 700k for a shack in P.B. or 700k in Carmel Valley or 4S Ranch, better schools, better resale value, better, cleaner, safer, etc.
Still I check P.B., just to see if there’s any deals there. I think barring something unforseen happening to boost real estate, prices will eventually come down even in P.B. I’ve seen prices come down in LJ.

You probably will be able to buy another bigger place in P.B. if you wait. There are some new ones built that are pretty impressive that in a few years will be reduced. Some people took seconds and expanded their place and now can’t afford it.

[jpinpb]

I’m thinking in a few years prices will come down. There are still homes in P.B. occupied by seniors and I read on this board demographically they will be adding to the inventory when they sell, move in w/kids, nursing homes, etc. So besides the defaults/foreclosures, add to the soup the elderly and job losses forcing sale, job transfers, divorce, etc. the increased inventory w/the shortage of qualified buyers will force the price down. But it’ll take a while.

I keep going back and forth whether I want to buy in P.B. The prices just don’t justify it. 700k for a shack in P.B. or 700k in Carmel Valley or 4S Ranch, better schools, better resale value, better, cleaner, safer, etc.
Still I check P.B., just to see if there’s any deals there. I think barring something unforseen happening to boost real estate, prices will eventually come down even in P.B. I’ve seen prices come down in LJ.

You probably will be able to buy another bigger place in P.B. if you wait. There are some new ones built that are pretty impressive that in a few years will be reduced. Some people took seconds and expanded their place and now can’t afford it.

[Author]

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