El Cajon Condo Blowout! (-27% in 8 months)

[NotCranky]

I don’t think that is unrealistic at all(Bradley). Might or might not happen but it certainly isn’t much of a stretch. El Cajon has never been much but it seems to have really gone down hill in the last 10-15yrs.If it went down hill in properous times and a boom what will happen in a bust and a recession? I am not writing it off or trying to be too much a snob but it looks more like National City than ever. I would be reluctant to buy there unless I had my finger on the pulse of some rebound, which I don’t but could be missing.
This is coming from someone who is fond of economy minded housing attitudes. I just think a modicum more of a quality of life concern might apply. Maybe I am getting soft in my old age. I happily started my ownership career in a pretty bad neighborhood which got a lot better with time.

[NotCranky]

I don’t think that is unrealistic at all(Bradley). Might or might not happen but it certainly isn’t much of a stretch. El Cajon has never been much but it seems to have really gone down hill in the last 10-15yrs.If it went down hill in properous times and a boom what will happen in a bust and a recession? I am not writing it off or trying to be too much a snob but it looks more like National City than ever. I would be reluctant to buy there unless I had my finger on the pulse of some rebound, which I don’t but could be missing.
This is coming from someone who is fond of economy minded housing attitudes. I just think a modicum more of a quality of life concern might apply. Maybe I am getting soft in my old age. I happily started my ownership career in a pretty bad neighborhood which got a lot better with time.

[NotCranky]

O.K. Gary I only suggested that because I thought you were set on El Cajon for which you now knoe I have my concerns. You have a lot of good ideas. Encanto has really gotten slammed as it should have. I like it better than El cajon for SFR though. Check out the Clairemont threads if you get a chance. I like to think about what areas might become more important in the next decade or two and Clairemont seems well situated. I am glad some of the people here keep bringing it up because I might look at that for a rent and hold, maybe add on, in one of the cheaper more beaten down areas there.

Gotta go,
Have a good night.

[NotCranky]

O.K. Gary I only suggested that because I thought you were set on El Cajon for which you now knoe I have my concerns. You have a lot of good ideas. Encanto has really gotten slammed as it should have. I like it better than El cajon for SFR though. Check out the Clairemont threads if you get a chance. I like to think about what areas might become more important in the next decade or two and Clairemont seems well situated. I am glad some of the people here keep bringing it up because I might look at that for a rent and hold, maybe add on, in one of the cheaper more beaten down areas there.

Gotta go,
Have a good night.

[NotCranky]

O.K. Gary I only suggested that because I thought you were set on El Cajon for which you now knoe I have my concerns. You have a lot of good ideas. Encanto has really gotten slammed as it should have. I like it better than El cajon for SFR though. Check out the Clairemont threads if you get a chance. I like to think about what areas might become more important in the next decade or two and Clairemont seems well situated. I am glad some of the people here keep bringing it up because I might look at that for a rent and hold, maybe add on, in one of the cheaper more beaten down areas there.

Gotta go,
Have a good night.

[NotCranky]

O.K. Gary I only suggested that because I thought you were set on El Cajon for which you now knoe I have my concerns. You have a lot of good ideas. Encanto has really gotten slammed as it should have. I like it better than El cajon for SFR though. Check out the Clairemont threads if you get a chance. I like to think about what areas might become more important in the next decade or two and Clairemont seems well situated. I am glad some of the people here keep bringing it up because I might look at that for a rent and hold, maybe add on, in one of the cheaper more beaten down areas there.

Gotta go,
Have a good night.

[NotCranky]

O.K. Gary I only suggested that because I thought you were set on El Cajon for which you now knoe I have my concerns. You have a lot of good ideas. Encanto has really gotten slammed as it should have. I like it better than El cajon for SFR though. Check out the Clairemont threads if you get a chance. I like to think about what areas might become more important in the next decade or two and Clairemont seems well situated. I am glad some of the people here keep bringing it up because I might look at that for a rent and hold, maybe add on, in one of the cheaper more beaten down areas there.

Gotta go,
Have a good night.

[garysears]

Well that didn’t take long…

It seems like I just think it and it happens. Not buying last month saved me at least $20k. Check out these latest list prices at 745 Bradley:

#208 $74,900 (-73% from 274k peak)
#41 $84,900
#31 $97,900
#49 $99,000

Looks like the banks are bound and determined to find the bottom soon.

Now I have to readjust my expectations….yet again. Maybe I’d offer $60k. Almost makes me consider a condo again.

[garysears]

Well that didn’t take long…

It seems like I just think it and it happens. Not buying last month saved me at least $20k. Check out these latest list prices at 745 Bradley:

#208 $74,900 (-73% from 274k peak)
#41 $84,900
#31 $97,900
#49 $99,000

Looks like the banks are bound and determined to find the bottom soon.

Now I have to readjust my expectations….yet again. Maybe I’d offer $60k. Almost makes me consider a condo again.

[garysears]

Well that didn’t take long…

It seems like I just think it and it happens. Not buying last month saved me at least $20k. Check out these latest list prices at 745 Bradley:

#208 $74,900 (-73% from 274k peak)
#41 $84,900
#31 $97,900
#49 $99,000

Looks like the banks are bound and determined to find the bottom soon.

Now I have to readjust my expectations….yet again. Maybe I’d offer $60k. Almost makes me consider a condo again.

[garysears]

Well that didn’t take long…

It seems like I just think it and it happens. Not buying last month saved me at least $20k. Check out these latest list prices at 745 Bradley:

#208 $74,900 (-73% from 274k peak)
#41 $84,900
#31 $97,900
#49 $99,000

Looks like the banks are bound and determined to find the bottom soon.

Now I have to readjust my expectations….yet again. Maybe I’d offer $60k. Almost makes me consider a condo again.

[garysears]

Well that didn’t take long…

It seems like I just think it and it happens. Not buying last month saved me at least $20k. Check out these latest list prices at 745 Bradley:

#208 $74,900 (-73% from 274k peak)
#41 $84,900
#31 $97,900
#49 $99,000

Looks like the banks are bound and determined to find the bottom soon.

Now I have to readjust my expectations….yet again. Maybe I’d offer $60k. Almost makes me consider a condo again.

[jpinpb]

Have you checked the solvency of the HOA? That could account for the huge price reductions. I remember hearing about a condo complex in El Cajon (no name or street location was provided) HOAs also paid for water. Many owners were underwater, upside down, defaults, foreclosures. They stopped paying the HOAs. The other FB had to pay HUGE HOAs to cover those who weren’t paying. They had no choice or the water was going to be turned off.

[jpinpb]

Have you checked the solvency of the HOA? That could account for the huge price reductions. I remember hearing about a condo complex in El Cajon (no name or street location was provided) HOAs also paid for water. Many owners were underwater, upside down, defaults, foreclosures. They stopped paying the HOAs. The other FB had to pay HUGE HOAs to cover those who weren’t paying. They had no choice or the water was going to be turned off.

[jpinpb]

Have you checked the solvency of the HOA? That could account for the huge price reductions. I remember hearing about a condo complex in El Cajon (no name or street location was provided) HOAs also paid for water. Many owners were underwater, upside down, defaults, foreclosures. They stopped paying the HOAs. The other FB had to pay HUGE HOAs to cover those who weren’t paying. They had no choice or the water was going to be turned off.

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