Big loss in North Park

[kewp]

Their house in La Jolla appears to be owned free and clear so looks like that have plenty o cash. There are still lots of rich people out there.

Yeah but that is just dumb. You could invest that money overseas and rent something nicer with just the returns. Then buy something even nicer than that after the market corrects.

I don’t get some people.

[NotCranky]

Normal hts. and Northpark will be interesting. They have to some degree gentrified since that last cycle. We will see very soon, where the new crowd got the money/ability to drive prices up like that. My guess is 92116 and 92104 are about to bite the dust…like the zips to the south and southeast are doing. Why should I say that specific to that neighborhood? The dominoes are falling.

[NotCranky]

Normal hts. and Northpark will be interesting. They have to some degree gentrified since that last cycle. We will see very soon, where the new crowd got the money/ability to drive prices up like that. My guess is 92116 and 92104 are about to bite the dust…like the zips to the south and southeast are doing. Why should I say that specific to that neighborhood? The dominoes are falling.

[NotCranky]

Normal hts. and Northpark will be interesting. They have to some degree gentrified since that last cycle. We will see very soon, where the new crowd got the money/ability to drive prices up like that. My guess is 92116 and 92104 are about to bite the dust…like the zips to the south and southeast are doing. Why should I say that specific to that neighborhood? The dominoes are falling.

[NotCranky]

Normal hts. and Northpark will be interesting. They have to some degree gentrified since that last cycle. We will see very soon, where the new crowd got the money/ability to drive prices up like that. My guess is 92116 and 92104 are about to bite the dust…like the zips to the south and southeast are doing. Why should I say that specific to that neighborhood? The dominoes are falling.

[NotCranky]

Normal hts. and Northpark will be interesting. They have to some degree gentrified since that last cycle. We will see very soon, where the new crowd got the money/ability to drive prices up like that. My guess is 92116 and 92104 are about to bite the dust…like the zips to the south and southeast are doing. Why should I say that specific to that neighborhood? The dominoes are falling.

[JerseyGrl]

Toots

I have seen some insanity here in 92104 in the last four years, but 800K for the stucco house across the street just plain got me angry. The sellers paid 650K for it two year ago, and when they listed it for sale in May I thought they’d be lucky to get what they paid for it. Low and behold, 805K!!!

We are renting an equivalent home for 1995/month. Most of the people on this block paid about 150K for these homes 10 years ago. When are buyers going to catch on that 500-800K for these homes is insane? Our next door neighbor (who bought his home 7 years ago) says we should buy because interest rates are so low. Duh?

Some parts of Normal Heights are even worse than North Park. There’s some funky streets/yucky houses in 92116 too.

[JerseyGrl]

Toots

I have seen some insanity here in 92104 in the last four years, but 800K for the stucco house across the street just plain got me angry. The sellers paid 650K for it two year ago, and when they listed it for sale in May I thought they’d be lucky to get what they paid for it. Low and behold, 805K!!!

We are renting an equivalent home for 1995/month. Most of the people on this block paid about 150K for these homes 10 years ago. When are buyers going to catch on that 500-800K for these homes is insane? Our next door neighbor (who bought his home 7 years ago) says we should buy because interest rates are so low. Duh?

Some parts of Normal Heights are even worse than North Park. There’s some funky streets/yucky houses in 92116 too.

[JerseyGrl]

Toots

I have seen some insanity here in 92104 in the last four years, but 800K for the stucco house across the street just plain got me angry. The sellers paid 650K for it two year ago, and when they listed it for sale in May I thought they’d be lucky to get what they paid for it. Low and behold, 805K!!!

We are renting an equivalent home for 1995/month. Most of the people on this block paid about 150K for these homes 10 years ago. When are buyers going to catch on that 500-800K for these homes is insane? Our next door neighbor (who bought his home 7 years ago) says we should buy because interest rates are so low. Duh?

Some parts of Normal Heights are even worse than North Park. There’s some funky streets/yucky houses in 92116 too.

[JerseyGrl]

Toots

I have seen some insanity here in 92104 in the last four years, but 800K for the stucco house across the street just plain got me angry. The sellers paid 650K for it two year ago, and when they listed it for sale in May I thought they’d be lucky to get what they paid for it. Low and behold, 805K!!!

We are renting an equivalent home for 1995/month. Most of the people on this block paid about 150K for these homes 10 years ago. When are buyers going to catch on that 500-800K for these homes is insane? Our next door neighbor (who bought his home 7 years ago) says we should buy because interest rates are so low. Duh?

Some parts of Normal Heights are even worse than North Park. There’s some funky streets/yucky houses in 92116 too.

[JerseyGrl]

Toots

I have seen some insanity here in 92104 in the last four years, but 800K for the stucco house across the street just plain got me angry. The sellers paid 650K for it two year ago, and when they listed it for sale in May I thought they’d be lucky to get what they paid for it. Low and behold, 805K!!!

We are renting an equivalent home for 1995/month. Most of the people on this block paid about 150K for these homes 10 years ago. When are buyers going to catch on that 500-800K for these homes is insane? Our next door neighbor (who bought his home 7 years ago) says we should buy because interest rates are so low. Duh?

Some parts of Normal Heights are even worse than North Park. There’s some funky streets/yucky houses in 92116 too.

[Ricechex]

Well, it depends on the street. Nile Street is busy and at the cross street Landis, it goes over into City Heights (but still 92104). There is a bunch of crime coming from Swift Avenue and the apartment complex in-between Landis and Swift. However, if you go just a minute over, not on Nile Street, the neighborhoods are nice. I know that house on Nile. The price is ridiculous. They are not going to get that for Nile Street. Now, if you go to some of the nicer streets…..Granada, Pershing, Alabama, Lousiana (all by Morley Field) then they might have something going.

[Ricechex]

Well, it depends on the street. Nile Street is busy and at the cross street Landis, it goes over into City Heights (but still 92104). There is a bunch of crime coming from Swift Avenue and the apartment complex in-between Landis and Swift. However, if you go just a minute over, not on Nile Street, the neighborhoods are nice. I know that house on Nile. The price is ridiculous. They are not going to get that for Nile Street. Now, if you go to some of the nicer streets…..Granada, Pershing, Alabama, Lousiana (all by Morley Field) then they might have something going.

[Ricechex]

Well, it depends on the street. Nile Street is busy and at the cross street Landis, it goes over into City Heights (but still 92104). There is a bunch of crime coming from Swift Avenue and the apartment complex in-between Landis and Swift. However, if you go just a minute over, not on Nile Street, the neighborhoods are nice. I know that house on Nile. The price is ridiculous. They are not going to get that for Nile Street. Now, if you go to some of the nicer streets…..Granada, Pershing, Alabama, Lousiana (all by Morley Field) then they might have something going.

[Ricechex]

Well, it depends on the street. Nile Street is busy and at the cross street Landis, it goes over into City Heights (but still 92104). There is a bunch of crime coming from Swift Avenue and the apartment complex in-between Landis and Swift. However, if you go just a minute over, not on Nile Street, the neighborhoods are nice. I know that house on Nile. The price is ridiculous. They are not going to get that for Nile Street. Now, if you go to some of the nicer streets…..Granada, Pershing, Alabama, Lousiana (all by Morley Field) then they might have something going.

[Author]

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