92104 Distressed Market

[Duranimal]

I don’t think so because it would seem to me that lenders could get in trouble for “redlining” – refusing to make loans in undesirable neighborhoods.

I was told that the lender uses an independent third party who makes the designations.

[Duranimal]

I don’t necessarily disagree, but I just think it’s interesting that some zip codes require more of a down payment than others. Seems like this is something new in the market that could have pretty big ramifications. Would seem to force prices even further down in the designated zip codes.

[Duranimal]

I don’t necessarily disagree, but I just think it’s interesting that some zip codes require more of a down payment than others. Seems like this is something new in the market that could have pretty big ramifications. Would seem to force prices even further down in the designated zip codes.

[Duranimal]

I don’t necessarily disagree, but I just think it’s interesting that some zip codes require more of a down payment than others. Seems like this is something new in the market that could have pretty big ramifications. Would seem to force prices even further down in the designated zip codes.

[Ricechex]

Well, now this is an interesting thread. As a 92104 dweller, I would have to confirm that prices ARE dropping.

Some years ago, there was the MCC program, a City program, which would reduce your taxes if you bought in less desirable zip codes. North Park was one of those areas for years. I noticed a couple of years ago, that North Park had been removed from the program. I guess they need to add it again…though that will take years….

Also, where you live in North Park can make a big difference. I live on a corner lot in a residential neighborhood, been here 8 years. No problems. My friend moved about 2 blocks away, on a busy street on Nile Street. He has been broken into once, and someone messed stuff up in his backyard when he was on vacation.

[Ricechex]

Well, now this is an interesting thread. As a 92104 dweller, I would have to confirm that prices ARE dropping.

Some years ago, there was the MCC program, a City program, which would reduce your taxes if you bought in less desirable zip codes. North Park was one of those areas for years. I noticed a couple of years ago, that North Park had been removed from the program. I guess they need to add it again…though that will take years….

Also, where you live in North Park can make a big difference. I live on a corner lot in a residential neighborhood, been here 8 years. No problems. My friend moved about 2 blocks away, on a busy street on Nile Street. He has been broken into once, and someone messed stuff up in his backyard when he was on vacation.

[Ricechex]

Well, now this is an interesting thread. As a 92104 dweller, I would have to confirm that prices ARE dropping.

Some years ago, there was the MCC program, a City program, which would reduce your taxes if you bought in less desirable zip codes. North Park was one of those areas for years. I noticed a couple of years ago, that North Park had been removed from the program. I guess they need to add it again…though that will take years….

Also, where you live in North Park can make a big difference. I live on a corner lot in a residential neighborhood, been here 8 years. No problems. My friend moved about 2 blocks away, on a busy street on Nile Street. He has been broken into once, and someone messed stuff up in his backyard when he was on vacation.

[greensd]

92104 is one of those funny San Diego neighborhoods that has a lot less economic segregation than we’re used to the US. I live at 30th and Juniper — on my lot and the ones right around me, we’ve got 30+ small cheap rental units. They’re terribly maintained, there’s huge tenant turnover, and the cops are here a lot. Across the alley, though, is Burlingame, with pink sidewalks and $million-plus houses. Fifty feet away and it’s another world.

People drive through here and can’t figure out whether it’s Mission Hills or City Heights… actually, it’s both. It works out great for me and my kids, but that’s because we’re poor. I can see why the rich might prefer to have a little more homogeneity in their neighbors, but I guess the area has compensating charms.

[greensd]

92104 is one of those funny San Diego neighborhoods that has a lot less economic segregation than we’re used to the US. I live at 30th and Juniper — on my lot and the ones right around me, we’ve got 30+ small cheap rental units. They’re terribly maintained, there’s huge tenant turnover, and the cops are here a lot. Across the alley, though, is Burlingame, with pink sidewalks and $million-plus houses. Fifty feet away and it’s another world.

People drive through here and can’t figure out whether it’s Mission Hills or City Heights… actually, it’s both. It works out great for me and my kids, but that’s because we’re poor. I can see why the rich might prefer to have a little more homogeneity in their neighbors, but I guess the area has compensating charms.

[greensd]

92104 is one of those funny San Diego neighborhoods that has a lot less economic segregation than we’re used to the US. I live at 30th and Juniper — on my lot and the ones right around me, we’ve got 30+ small cheap rental units. They’re terribly maintained, there’s huge tenant turnover, and the cops are here a lot. Across the alley, though, is Burlingame, with pink sidewalks and $million-plus houses. Fifty feet away and it’s another world.

People drive through here and can’t figure out whether it’s Mission Hills or City Heights… actually, it’s both. It works out great for me and my kids, but that’s because we’re poor. I can see why the rich might prefer to have a little more homogeneity in their neighbors, but I guess the area has compensating charms.

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