Cherokee Point Neighborhood

[youngPro]

I wanted to get some opinions on the Cherokee Point neighborhood. I’m a young professional and looking to buy my first home while rates are still low. I’m not in a rush to purchase, but I am keeping my eye on the market to see what’s out there.

It seems that at the moment inventory is pretty low and prices are kind of all over the place. I’ve mostly been searching in 92104 and 92116 zip codes because I like the area, but it seems like prices have risen here over the past 2-3 years and good deals are harder to come by.

I’m looking at the small Cherokee Point neighborhood south of University between 805 and 15, there seems to still be decent prices in the area, but it’s a little rougher than most of the areas I have been searching for, but the PPSF is much lower. I drove by the neighborhood the other day and it felt fairly safe. There is an elementary school, a park and a YMCA right inside the “wine glass” and a good portion of the homes looked like they’ve been freshly remodeled.

Any thoughts on the Cherokee Point area and whether I can expect any decent price appreciation for small SFR in that area in the next 5 years?

Thanks for any replies

[paulflorez]

I shopped in that area back when I was looking for a house. Ultimately, I bought in the Castle neighborhood, just a walk across the pedestrian bridge of Park De La Cruz, because the prices there were even more affordable, but of course the neighborhood is nice. Park De La Cruz and the Cherokee Point neighborhood are where I walk my dog, so the contrast between Castle and Cherokee Point is obvious to me.

In Cherokee, the majority of the people keep up the front of their houses and yards. Lawns are mowed, houses are well painted and maintained and fences are mended. I notice this because in Castle very few houses have well kept yards and houses. This is probably because you have more homeowners and fewer landlords in Cherokee. Todd Gloria used to live in that neighborhood before it got redistricted out of District 3. The owner of Marie’s Cafe in North Park also lives in that neighborhood.

Of course, Wightman St. is more disheveled because it’s zoned higher, as is anything north of University (Teralta), but for the most part houses south of Wightman are just as nice as houses in North Park in the university/805/thorn/north park way quadrant. Definitely better than houses north of University in North Park because there are not as many gigantic apartment buildings.

If you are set on getting a starter home instead of a condo, Cherokee Point is a good choice. Be prepared to have heavy competition though because it is a small neighborhood with lower prices. Back in 2009 it was almost impossible to beat the multitude of all-cash offers that were coming in for that neighborhood, I imagine it’s only worse now.

Also, FYI, that YMCA will be relocating to El Cajon Blvd (where Pearson Ford used to be) within the next couple of years. Todd Gloria said they already have several potential tenants lined up, but I’m not sure what they’ll be.

[bearishgurl]

This area has “gentrified” significantly since CALTRANS bought up those hundreds of parcels on each side of “40th St” thru eminent domain. This action, along with the long-planned and successful addition of the I-15 “cut and cover” project and later, EC Blvd “enhancements” made by the City, created all the micro areas which paulflorez speaks of now.

It is exciting to see the changes in these micro-areas, especially the public additions such as parks, swimming pool and ice skate rink. This area has come a long, long way since the ’80’s, IMHO. It is also gratifying to see qualified buyers spend $$ to repair/upgrade these older smallish homes, many of which have notable and important (to SD) architectural features.

SD’s “Mid-City” is beginning to rock!

Strictly by its close-in metro location and lower price point than North/South Park, Cherokee Park and surrounds have nowhere to go but up, in my “expert” option.

Signed,

Former Save our Canyons committee member

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