4 bedroom houses in Mira Mesa going for $355K and $368K

[jimmyle]

I am sure these houses were above $500K mark 2 years ago. Wow, at least 30% off already. Both of these houses are built in 1972.
The question is will they go for $300K at the end of next year?

http://www.sdlookup.com/MLS-076080893-11421_Vela_Dr_San_Diego_CA_92126

http://www.sdlookup.com/MLS-076049868-8361_Calle_Morelos_San_Diego_CA_92126

[SD Realtor]

Jimmy remember our friend on Penara?

SD Realtor

[SD Realtor]

Jimmy remember our friend on Penara?

SD Realtor

[HLS]

The 2nd one is a short sale with the range pricing. It doesn’t mean that the lender will accept a low offer.

Most short sales don’t happen. It can take weeks to get a response from the lender. It’s a slow process, and some sellers have been misled into thinking that they can do a short sale.

If you have assets, it’s not considered a hardship.
The lender isn’t a partner in the property, and it had gone up, they aren’t in for any part of the rise, but they are exposed to the loss.

Nobody knows how low prices will go. Many buyers will jump in way too early, but there is still a long way to go before we hit rock bottom. Each area will be different.
The end of next year is a good target, but I don’t think the bottom will be hit yet.

[HLS]

The 2nd one is a short sale with the range pricing. It doesn’t mean that the lender will accept a low offer.

Most short sales don’t happen. It can take weeks to get a response from the lender. It’s a slow process, and some sellers have been misled into thinking that they can do a short sale.

If you have assets, it’s not considered a hardship.
The lender isn’t a partner in the property, and it had gone up, they aren’t in for any part of the rise, but they are exposed to the loss.

Nobody knows how low prices will go. Many buyers will jump in way too early, but there is still a long way to go before we hit rock bottom. Each area will be different.
The end of next year is a good target, but I don’t think the bottom will be hit yet.

[jimmyle]

SD Realtor,

Yeah, I am still watching the Penara house. Doesn’t look like it will go any where soon.

[jimmyle]

SD Realtor,

Yeah, I am still watching the Penara house. Doesn’t look like it will go any where soon.

[bsrsharma]

will they go for $300K at the end of next year?

My guess is yes; Sub $300K but before Dec 2008.

[bsrsharma]

will they go for $300K at the end of next year?

My guess is yes; Sub $300K but before Dec 2008.

[Author]

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