4221 Mount Casas 92117, Clairemont

[jpinpb]

I saw this property and I think 2828 Deerpark was a better deal, in better condition (just outdated) and if you add a second story, a full on bay view. I got a letter from the realtor saying 456k was the highest bid and if I was interested in going higher to let him know b/c he was putting in the package to bank.

I was not interested in getting into a bidding war. I will let this person buy and bring down the comps. 2828 Deerpark was going to foreclosure 5/27. There are NODs in the area. Realtor/owner has one on Deerpark listed for a very long time in same condition for 615k. I think he may want to reconsider that price after this sale goes through. There is also a bank owned on that street that is not in the MLS yet.

I still think of Clairemont as median neighborhood and median should go for 350k max, maybe 400-450k for canyon – and I mean canyon, not Balboa. That’s JMO. From the inventory that is out there, I’m hoping that the decline in prices will continue to that point. Anyone who is foolish enough to get in a bidding war on this Mt. fixer deserves the punishment for it later.

As far as flipping, were the credit standards loosened? Who is going to buy? Is there a burning desire for upper income people to live in Clairemont? I thought the upper income all wanted to live in Carmel Valley/4S Ranch.

Maybe investors buying w/the intention of renting. If that’s the case, I don’t think the numbers add up on ROI.

[detourbeach]

It’s a bunch of crap because they said EVERYONE REBID without giving any information except there is a bunch of people bidding. Did everyone try to lowball it the first time thinking they would be the ONLY bidder? C’mon, you have to bid knowing there will be alot of people bidding.

It’s just a little game the bank is playing to screw with everyone and make them bid happy. They should have just put the house on Ebay.

[detourbeach]

It’s a bunch of crap because they said EVERYONE REBID without giving any information except there is a bunch of people bidding. Did everyone try to lowball it the first time thinking they would be the ONLY bidder? C’mon, you have to bid knowing there will be alot of people bidding.

It’s just a little game the bank is playing to screw with everyone and make them bid happy. They should have just put the house on Ebay.

[detourbeach]

It’s a bunch of crap because they said EVERYONE REBID without giving any information except there is a bunch of people bidding. Did everyone try to lowball it the first time thinking they would be the ONLY bidder? C’mon, you have to bid knowing there will be alot of people bidding.

It’s just a little game the bank is playing to screw with everyone and make them bid happy. They should have just put the house on Ebay.

[detourbeach]

It’s a bunch of crap because they said EVERYONE REBID without giving any information except there is a bunch of people bidding. Did everyone try to lowball it the first time thinking they would be the ONLY bidder? C’mon, you have to bid knowing there will be alot of people bidding.

It’s just a little game the bank is playing to screw with everyone and make them bid happy. They should have just put the house on Ebay.

[detourbeach]

It’s a bunch of crap because they said EVERYONE REBID without giving any information except there is a bunch of people bidding. Did everyone try to lowball it the first time thinking they would be the ONLY bidder? C’mon, you have to bid knowing there will be alot of people bidding.

It’s just a little game the bank is playing to screw with everyone and make them bid happy. They should have just put the house on Ebay.

[(former)FormerSanDiegan]

jpinpb – I agree that Deerpark and Bay Park in general is superior. At 456K, that’s a pretty good deal. I think the donwside risk is fairly limited for that buyer. IMO, maybe a bit less than 400K for those places would be the most downside I can see from here. This is an area that has consistent ocean breezes, close to everything in central coastal SD, a move-up neighborhood relative to Mira Mesa and Clairemont. Pretty decent Bay/Ocean view potential.

[(former)FormerSanDiegan]

jpinpb – I agree that Deerpark and Bay Park in general is superior. At 456K, that’s a pretty good deal. I think the donwside risk is fairly limited for that buyer. IMO, maybe a bit less than 400K for those places would be the most downside I can see from here. This is an area that has consistent ocean breezes, close to everything in central coastal SD, a move-up neighborhood relative to Mira Mesa and Clairemont. Pretty decent Bay/Ocean view potential.

[(former)FormerSanDiegan]

jpinpb – I agree that Deerpark and Bay Park in general is superior. At 456K, that’s a pretty good deal. I think the donwside risk is fairly limited for that buyer. IMO, maybe a bit less than 400K for those places would be the most downside I can see from here. This is an area that has consistent ocean breezes, close to everything in central coastal SD, a move-up neighborhood relative to Mira Mesa and Clairemont. Pretty decent Bay/Ocean view potential.

[(former)FormerSanDiegan]

jpinpb – I agree that Deerpark and Bay Park in general is superior. At 456K, that’s a pretty good deal. I think the donwside risk is fairly limited for that buyer. IMO, maybe a bit less than 400K for those places would be the most downside I can see from here. This is an area that has consistent ocean breezes, close to everything in central coastal SD, a move-up neighborhood relative to Mira Mesa and Clairemont. Pretty decent Bay/Ocean view potential.

[(former)FormerSanDiegan]

jpinpb – I agree that Deerpark and Bay Park in general is superior. At 456K, that’s a pretty good deal. I think the donwside risk is fairly limited for that buyer. IMO, maybe a bit less than 400K for those places would be the most downside I can see from here. This is an area that has consistent ocean breezes, close to everything in central coastal SD, a move-up neighborhood relative to Mira Mesa and Clairemont. Pretty decent Bay/Ocean view potential.

[SD Realtor]

Detourbeach –

I know it is frustrating to compete with alot of bidders. That is the way it goes. You can either choose to compete or not compete. Nobody forces you to do either yet you make it sound like someone is making you bid on the home which they are not.

Your prerogative as a buyer is to set your own boundaries and act accordingly. Your budget and the way in which you bid in no way should depend on the presence of other buyers. As a buyer your budget will dictate what you want to spend, not what any seller is telling you that you HAVE to spend to compete for a home.

If you don’t like it, don’t bid.

It is not a game the bank is playing. It is a game ANY seller would and should play. If people all priced homes in an UBER competitive manner we would find a bottom of a market much faster then we do when people take a year to finally figure out that they need to price in a competitive manner.

Finally, this is how the landscape plays out for properties like this. I am encountering this in ANY submarket where there are homes priced very aggressively. It is frustrating to deal with these scenarios as a buyer but over time you will get used to it. If you don’t want to rebid, don’t rebid and tell them you are sticking with your initial offer and see what happens.

SD Realtor

[SD Realtor]

Detourbeach –

I know it is frustrating to compete with alot of bidders. That is the way it goes. You can either choose to compete or not compete. Nobody forces you to do either yet you make it sound like someone is making you bid on the home which they are not.

Your prerogative as a buyer is to set your own boundaries and act accordingly. Your budget and the way in which you bid in no way should depend on the presence of other buyers. As a buyer your budget will dictate what you want to spend, not what any seller is telling you that you HAVE to spend to compete for a home.

If you don’t like it, don’t bid.

It is not a game the bank is playing. It is a game ANY seller would and should play. If people all priced homes in an UBER competitive manner we would find a bottom of a market much faster then we do when people take a year to finally figure out that they need to price in a competitive manner.

Finally, this is how the landscape plays out for properties like this. I am encountering this in ANY submarket where there are homes priced very aggressively. It is frustrating to deal with these scenarios as a buyer but over time you will get used to it. If you don’t want to rebid, don’t rebid and tell them you are sticking with your initial offer and see what happens.

SD Realtor

[SD Realtor]

Detourbeach –

I know it is frustrating to compete with alot of bidders. That is the way it goes. You can either choose to compete or not compete. Nobody forces you to do either yet you make it sound like someone is making you bid on the home which they are not.

Your prerogative as a buyer is to set your own boundaries and act accordingly. Your budget and the way in which you bid in no way should depend on the presence of other buyers. As a buyer your budget will dictate what you want to spend, not what any seller is telling you that you HAVE to spend to compete for a home.

If you don’t like it, don’t bid.

It is not a game the bank is playing. It is a game ANY seller would and should play. If people all priced homes in an UBER competitive manner we would find a bottom of a market much faster then we do when people take a year to finally figure out that they need to price in a competitive manner.

Finally, this is how the landscape plays out for properties like this. I am encountering this in ANY submarket where there are homes priced very aggressively. It is frustrating to deal with these scenarios as a buyer but over time you will get used to it. If you don’t want to rebid, don’t rebid and tell them you are sticking with your initial offer and see what happens.

SD Realtor

[SD Realtor]

Detourbeach –

I know it is frustrating to compete with alot of bidders. That is the way it goes. You can either choose to compete or not compete. Nobody forces you to do either yet you make it sound like someone is making you bid on the home which they are not.

Your prerogative as a buyer is to set your own boundaries and act accordingly. Your budget and the way in which you bid in no way should depend on the presence of other buyers. As a buyer your budget will dictate what you want to spend, not what any seller is telling you that you HAVE to spend to compete for a home.

If you don’t like it, don’t bid.

It is not a game the bank is playing. It is a game ANY seller would and should play. If people all priced homes in an UBER competitive manner we would find a bottom of a market much faster then we do when people take a year to finally figure out that they need to price in a competitive manner.

Finally, this is how the landscape plays out for properties like this. I am encountering this in ANY submarket where there are homes priced very aggressively. It is frustrating to deal with these scenarios as a buyer but over time you will get used to it. If you don’t want to rebid, don’t rebid and tell them you are sticking with your initial offer and see what happens.

SD Realtor

[Author]

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