Distribution of Wealth in SD County

[an]

[quote=bearishgurl]
AN, my point is, because 91910 doesn’t “churn” the way PQ does, it doesn’t have the sold comps to support higher prices right now. Only the distressed, low-end or unprofitable rentals are being marketed. [/quote]
But didn’t you just show 91910 sold more than 92129 in the last 2 months or so?

[quote=bearishgurl]Let me ask you, if you pd. cash for a property and owned it free and clear, and you did not need this money today to live on, would you put it on the market right now??[/quote]
No I would not.

[quote=bearishgurl]91910 (west) population consists of mainly the “haves” and the “have-nots.” There is not too many “in-between” MC or Upper MC working families. Most people around here DON’T WORK anymore, no matter WHAT they live in.[/quote]
But the housing stocks shows there are houses from $200k-$4M. There must be MC/upper MC buying those $500k-$1M houses.

[bearishgurl]

[quote=AN]But didn’t you just show 91910 sold more than 92129 in the last 2 months or so? [/quote]

No, more houses were sold in 92129 in the last 2 mos.

[quote=AN]But the housing stocks shows there are houses from $200k-$4M. There must be MC/upper MC buying those $500k-$1M houses.[/quote]

There are. I posted the comps from RDR Belmonte and Miranda. They are NOT in CV West 91910. They are 5.5 mi. away in “New RDR” 91910. No luxury properties have sold in CV West in the last 2 mos. because 1) there aren’t very many on the market; 2)the CV West luxury homes are generally more exp, i.e. on bigger lots, no HOA, no MR; and 3)there were only two distressed properties that I know of in the last 3 years in this area (one heavy fixer); and 4) many were purchased with cash so their owners don’t really need to sell and aren’t listing them. Why would they?

So the 91910 comps in CV West are skewed low right now to distressed and overextended investors’ must-sell properties.

[bearishgurl]

[quote=AN]But didn’t you just show 91910 sold more than 92129 in the last 2 months or so? [/quote]

No, more houses were sold in 92129 in the last 2 mos.

[quote=AN]But the housing stocks shows there are houses from $200k-$4M. There must be MC/upper MC buying those $500k-$1M houses.[/quote]

There are. I posted the comps from RDR Belmonte and Miranda. They are NOT in CV West 91910. They are 5.5 mi. away in “New RDR” 91910. No luxury properties have sold in CV West in the last 2 mos. because 1) there aren’t very many on the market; 2)the CV West luxury homes are generally more exp, i.e. on bigger lots, no HOA, no MR; and 3)there were only two distressed properties that I know of in the last 3 years in this area (one heavy fixer); and 4) many were purchased with cash so their owners don’t really need to sell and aren’t listing them. Why would they?

So the 91910 comps in CV West are skewed low right now to distressed and overextended investors’ must-sell properties.

[bearishgurl]

[quote=AN]But didn’t you just show 91910 sold more than 92129 in the last 2 months or so? [/quote]

No, more houses were sold in 92129 in the last 2 mos.

[quote=AN]But the housing stocks shows there are houses from $200k-$4M. There must be MC/upper MC buying those $500k-$1M houses.[/quote]

There are. I posted the comps from RDR Belmonte and Miranda. They are NOT in CV West 91910. They are 5.5 mi. away in “New RDR” 91910. No luxury properties have sold in CV West in the last 2 mos. because 1) there aren’t very many on the market; 2)the CV West luxury homes are generally more exp, i.e. on bigger lots, no HOA, no MR; and 3)there were only two distressed properties that I know of in the last 3 years in this area (one heavy fixer); and 4) many were purchased with cash so their owners don’t really need to sell and aren’t listing them. Why would they?

So the 91910 comps in CV West are skewed low right now to distressed and overextended investors’ must-sell properties.

[bearishgurl]

[quote=AN]But didn’t you just show 91910 sold more than 92129 in the last 2 months or so? [/quote]

No, more houses were sold in 92129 in the last 2 mos.

[quote=AN]But the housing stocks shows there are houses from $200k-$4M. There must be MC/upper MC buying those $500k-$1M houses.[/quote]

There are. I posted the comps from RDR Belmonte and Miranda. They are NOT in CV West 91910. They are 5.5 mi. away in “New RDR” 91910. No luxury properties have sold in CV West in the last 2 mos. because 1) there aren’t very many on the market; 2)the CV West luxury homes are generally more exp, i.e. on bigger lots, no HOA, no MR; and 3)there were only two distressed properties that I know of in the last 3 years in this area (one heavy fixer); and 4) many were purchased with cash so their owners don’t really need to sell and aren’t listing them. Why would they?

So the 91910 comps in CV West are skewed low right now to distressed and overextended investors’ must-sell properties.

[bearishgurl]

[quote=AN]But didn’t you just show 91910 sold more than 92129 in the last 2 months or so? [/quote]

No, more houses were sold in 92129 in the last 2 mos.

[quote=AN]But the housing stocks shows there are houses from $200k-$4M. There must be MC/upper MC buying those $500k-$1M houses.[/quote]

There are. I posted the comps from RDR Belmonte and Miranda. They are NOT in CV West 91910. They are 5.5 mi. away in “New RDR” 91910. No luxury properties have sold in CV West in the last 2 mos. because 1) there aren’t very many on the market; 2)the CV West luxury homes are generally more exp, i.e. on bigger lots, no HOA, no MR; and 3)there were only two distressed properties that I know of in the last 3 years in this area (one heavy fixer); and 4) many were purchased with cash so their owners don’t really need to sell and aren’t listing them. Why would they?

So the 91910 comps in CV West are skewed low right now to distressed and overextended investors’ must-sell properties.

[DWCAP]

Great post poorgradstudent,

I never really ascribed to the whole lifestyle as class thing. Too many people living far above/below their incomes ‘class’ to ever make much sense. One big variable that is just too hard to measure with ‘lifestyle classes’ is retirment. US savings rates are terrible, and will lead to more and more people unable to retire until very late in life if ever. Working till you drop is something that I would not equate with being upper middle class to wealthy. Problem is you dont see it like you do people buying $500 purses or Golf clubs.

[DWCAP]

Great post poorgradstudent,

I never really ascribed to the whole lifestyle as class thing. Too many people living far above/below their incomes ‘class’ to ever make much sense. One big variable that is just too hard to measure with ‘lifestyle classes’ is retirment. US savings rates are terrible, and will lead to more and more people unable to retire until very late in life if ever. Working till you drop is something that I would not equate with being upper middle class to wealthy. Problem is you dont see it like you do people buying $500 purses or Golf clubs.

[DWCAP]

Great post poorgradstudent,

I never really ascribed to the whole lifestyle as class thing. Too many people living far above/below their incomes ‘class’ to ever make much sense. One big variable that is just too hard to measure with ‘lifestyle classes’ is retirment. US savings rates are terrible, and will lead to more and more people unable to retire until very late in life if ever. Working till you drop is something that I would not equate with being upper middle class to wealthy. Problem is you dont see it like you do people buying $500 purses or Golf clubs.

[DWCAP]

Great post poorgradstudent,

I never really ascribed to the whole lifestyle as class thing. Too many people living far above/below their incomes ‘class’ to ever make much sense. One big variable that is just too hard to measure with ‘lifestyle classes’ is retirment. US savings rates are terrible, and will lead to more and more people unable to retire until very late in life if ever. Working till you drop is something that I would not equate with being upper middle class to wealthy. Problem is you dont see it like you do people buying $500 purses or Golf clubs.

[DWCAP]

Great post poorgradstudent,

I never really ascribed to the whole lifestyle as class thing. Too many people living far above/below their incomes ‘class’ to ever make much sense. One big variable that is just too hard to measure with ‘lifestyle classes’ is retirment. US savings rates are terrible, and will lead to more and more people unable to retire until very late in life if ever. Working till you drop is something that I would not equate with being upper middle class to wealthy. Problem is you dont see it like you do people buying $500 purses or Golf clubs.

[an]

You’re right, I didn’t notice the date is different. The difference is not that drastic though.

bearishgurl, What you’re saying is price is the owner has equity, so they don’t need to sell. Which is true, however, that doesn’t change the market price. Comps are not skewed, it’s just the current value, whether you like it or not. If you have equity, you have the luxury to wait for the market to rise again.

[an]

You’re right, I didn’t notice the date is different. The difference is not that drastic though.

bearishgurl, What you’re saying is price is the owner has equity, so they don’t need to sell. Which is true, however, that doesn’t change the market price. Comps are not skewed, it’s just the current value, whether you like it or not. If you have equity, you have the luxury to wait for the market to rise again.

[an]

You’re right, I didn’t notice the date is different. The difference is not that drastic though.

bearishgurl, What you’re saying is price is the owner has equity, so they don’t need to sell. Which is true, however, that doesn’t change the market price. Comps are not skewed, it’s just the current value, whether you like it or not. If you have equity, you have the luxury to wait for the market to rise again.

[an]

You’re right, I didn’t notice the date is different. The difference is not that drastic though.

bearishgurl, What you’re saying is price is the owner has equity, so they don’t need to sell. Which is true, however, that doesn’t change the market price. Comps are not skewed, it’s just the current value, whether you like it or not. If you have equity, you have the luxury to wait for the market to rise again.

[Author]

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