Foreclosure ban end.

[sdrealtor]

[quote=scaredyclassic][quote=sdrealtor][quote=deadzone][quote=an][quote=deadzone]Perhaps, but you mentioned yourself sometime abo that Carmel Valley was being bought up by Chinese money. And regarding people moving here from “more expensive places in US” in reality there are very few places in the US with higher housing costs than San Diego, Bay Area being the most obvious.[/quote]
Really? How about anywhere in OC, LA, entire bay area, NYC? SD is dirty cheap compare to those area.[/quote]

Yes you basically just named every area in the U.S. that is more expensive than San Diego. The rest of the country not so much.[/quote]

There you go again creating your own negativity. There are very expensive towns all over this country. They may not be big MSA’s but how about Jupiter Florida, Highland Park Illinois, Greenwich Connecticut , Park City Utah, Hawaii, Broadmor Washington, Wellesley Massachusetts and I could go on. People move here from those places also. You can talk yourself out of anything

Still haven’t answered my question[/quote]

Doesn’t every state have a rich town? NM kind of a broke state, but Santa Fe is wealthy.

Hanover new Hampshire.

Boston generally.[/quote]

That’s my point. There are places in practically every state that are more expensive than here. Most are not as nice, beautiful or temperate as it is here. We are a magnet to people from all over the world now

[sdrealtor]

[quote=Coronita]The other thing I think Is happening is some landlords are starting to sell at these high prices. Because the tenant pool this year for me was way better than last year, even with a $700/month price increase.

I guess a lot of long term tenants are being forced to move because the owners are selling. Fortunately, SFH are exempt from rent control (for now).[/quote]

Landlords are always buying and selling. The quality and quantity of high quality tenants has increased dramatically. Higher home prices and low inventory strengthen that market even more

[Anonymous]

[quote=sdrealtor] We are a magnet to people from all over the world now[/quote]

Classic Realtor talk. As if San Diego wasn’t popular before Covid. This is the same type of realtor talk we heard back in the 2000s to justify the crazy prices in San Diego.

The Covid/Remote work related distortion is just a temporary blip. The main factors for price appreciation are crazy amount of Fed induced money, which has been going on since 2009. The Fed Balance sheet chart is all you need to look at. And for Covid, the rent and mortgage moratoriums are a major factor. As I understand, if you are a landloard and wanted to sell your house at today’s crazy prices, you couldn’t do it.

Fact is, RE prices are at all time highs and inventory at all time lows ALL around the country, certainly not just San Diego or CA. Look at St George Ut from the other thread, its everywhere (except Cleveland). Suggesting this is primarily due to rich folks moving down from Bay Area is non-sensical. If that were the case, then Bay Area prices would be going down with all these folks leaving to come to San Diego.

[sdrealtor]

More strawman nonsense from the permabear. Never said it wasnt popular before COVID, just that it is becoming MORE popular due to what appear to be permanent shifts in peoples ability to WFH. Yes prices are increasing everywhere< I didnt say otherwise. However they are increasing more and faster here than most places. Suggesting Bay Area buyers are not driving our prices up is non-sensical and ill informed nor would it require any price movement in the Bay Area. Many of these folks were renters up there not homeowners which is one major reason they come here. As Ive said 10 Bay Area buyers per month would dramatically alter the landscape of home sales along the NCC from CV through Carlsbad AND 4S/Del Sur. TEN BAY AREA BUYERS PER MONTH! That is all it takes and them selling homes up north would do nothing to their price levels. Keep digging yourself a deeper hole permabear. Even better dig a foundation for your mythical San Diego home purchase. Still havent answered the question

[Anonymous]

[quote=sdrealtor]More strawman nonsense from the permabear. Never said it wasnt popular before COVID, just that it is becoming MORE popular due to what appear to be permanent shifts in peoples ability to WFH. Yes prices are increasing everywhere< I didnt say otherwise. However they are increasing more and faster here than most places. Suggesting Bay Area buyers are not driving our prices up is non-sensical and ill informed nor would it require any price movement in the Bay Area. Many of these folks were renters up there not homeowners which is one major reason they come here. As Ive said 10 Bay Area buyers per month would dramatically alter the landscape of home sales along the NCC from CV through Carlsbad AND 4S/Del Sur. TEN BAY AREA BUYERS PER MONTH! That is all it takes and them selling homes up north would do nothing to their price levels. Keep digging yourself a deeper hole permabear. Even better dig a foundation for your mythical San Diego home purchase. Still havent answered the question[/quote] I'm done wasting my time bickering with you. Just pointing out that you saying San Diego is suddenly more popular is exactly what they were saying in the 2000s as justification that RE would never go down here. I also find it amusing how you attacked TG and now me (for defending TG) for having the nerve to bring up the possibility that there is a bubble and there could be a crash again. Why does it bother you so much that people would be cheering for or expecting a crash? I never understood why RE agents are always cheerleading for higher prices. Wouldn't more sales volume, at lower prices, be better for everyone?

[scaredyclassic]

Hope for the worst, expect the best. Or wait, was it hope for the best, expect the worst? Shit I can’t remember.

I think for me it’s hope for the worst expect the worst.

Used to have a mug I liked that had dancing hot dogs and said

Hope for the best but expect the ‘wurst.

Hahaha

The worst for a vegan is the wurst.

A crash is always coming but no one knows when or how deep

[an]

[quote=svelte][quote=an][quote=svelte]
Totally bogus claim.[/quote]what development in Mira Mesa in 1987 was going for 100-105k for a 3/2 1500 sqft house?[/quote]

I can’t recall the name and I didn’t save any brochures. All I can tell you is that it was south of MM Blvd and west of Westonhill. I can’t remember any more than that.[/quote]
These are the only one that’s new around 1987 that’s 3/2 1500 sqft South of MM. 7528 Flanders Dr, San Diego, CA 92126. This one sold for 160k in 1988. So your dad was getting a crazy deal.

[scaredyclassic]

Funny …i remember trying to buy this negative shirt back in 2009 or so and they were sold out. Should’ve been a sign the worst was over…

http://driftingcamera.blogspot.com/2010/01/hamburger-eyes-t-shirts.html?m=1

Good shirt to wear for the next crash

[sdrealtor]

[quote=deadzone][quote=sdrealtor]More strawman nonsense from the permabear. Never said it wasnt popular before COVID, just that it is becoming MORE popular due to what appear to be permanent shifts in peoples ability to WFH. Yes prices are increasing everywhere< I didnt say otherwise. However they are increasing more and faster here than most places. Suggesting Bay Area buyers are not driving our prices up is non-sensical and ill informed nor would it require any price movement in the Bay Area. Many of these folks were renters up there not homeowners which is one major reason they come here. As Ive said 10 Bay Area buyers per month would dramatically alter the landscape of home sales along the NCC from CV through Carlsbad AND 4S/Del Sur. TEN BAY AREA BUYERS PER MONTH! That is all it takes and them selling homes up north would do nothing to their price levels. Keep digging yourself a deeper hole permabear. Even better dig a foundation for your mythical San Diego home purchase. Still havent answered the question[/quote] I'm done wasting my time bickering with you. Just pointing out that you saying San Diego is suddenly more popular is exactly what they were saying in the 2000s as justification that RE would never go down here. I also find it amusing how you attacked TG and now me (for defending TG) for having the nerve to bring up the possibility that there is a bubble and there could be a crash again. Why does it bother you so much that people would be cheering for or expecting a crash? I never understood why RE agents are always cheerleading for higher prices. Wouldn't more sales volume, at lower prices, be better for everyone?[/quote] There you go again strawman. I disagreed with TG, I did not attack him. Please point out where I cheered for higher prices. I said I wish they were lower over and over. If we had them Im sure that I'd take advantage of them as would my friends and clients while you sat on the sidelines as you did when you had the opportunity of a lifetime. Its hard to find someone here for so long who whiffed so badly. CAR got a house. TG got a house. JPinPB got a house. AN got a house. Sdude got a house. CDMAengineer got a house. Barnaby got a home. Rich got a house! ScaredyCat got a house! Cornita got rentals properties! Powayseller went off the deep end but thats another story for another time You continue making things up and posting wrong things. No one here said SD would never go down but I said more desireable parts would go down a lot less and I was correct. And yes it could and should go down again but when it does it will be more muted in the places you would want to buy so you never will

[Coronita]

[quote=deadzone][quote=sdrealtor] We are a magnet to people from all over the world now[/quote]

Classic Realtor talk. As if San Diego wasn’t popular before Covid. This is the same type of realtor talk we heard back in the 2000s to justify the crazy prices in San Diego.

The Covid/Remote work related distortion is just a temporary blip. The main factors for price appreciation are crazy amount of Fed induced money, which has been going on since 2009. The Fed Balance sheet chart is all you need to look at. And for Covid, the rent and mortgage moratoriums are a major factor. As I understand, if you are a landloard and wanted to sell your house at today’s crazy prices, you couldn’t do it.

Fact is, RE prices are at all time highs and inventory at all time lows ALL around the country, certainly not just San Diego or CA. Look at St George Ut from the other thread, its everywhere (except Cleveland). Suggesting this is primarily due to rich folks moving down from Bay Area is non-sensical. If that were the case, then Bay Area prices would be going down with all these folks leaving to come to San Diego.[/quote]

The irony is that even if you bought a house in 2004, and were able to hold on, it would be pretty good now. I remember when we sold a 3/3 crest delmar townhome and thought it was crazy people were paying $620k for the townhome..My coworker sold the same townhome floorplan in the same complex a 2-3 months ago for $840k. I was shocked.

[sdrealtor]

Absolutely. I’d estimate my house is up almost 70% over the prior peak. There is a house that went for 1.15 at the prior peak in a bidding war. They overpaid back then. For years we always chuckled they were stuck for a long time. Today it would go for about 1.75m. It’s crazy but there seems to be no end in sight

[Coronita]

Back in 2004, it was already quite a stretch to pay mid 800s for a 5/3, and I was already balking about it (well it was still way cheaper than bay area)…Never thought that today, that today that would afford a 3/3 townhome.

[Reality]

This place barely went for more than it did in 2005.

https://www.sdlookup.com/MLS-200054657-4260_Eastridge_Dr_La_Mesa_CA_91941

[Coronita]

Could be worse I guess.. $876/sqft for a condo in sunnyvale lol

https://www.zillow.com/homedetails/483-Torrey-Pine-Ter-Sunnyvale-CA-94086/2071154061_zpid/

Or $900/sqft for a SFH

https://www.zillow.com/homedetails/850-Iris-Ave-Sunnyvale-CA-94086/19546732_zpid/

[Coronita]

[quote=Reality]This place barely went for more than it did in 2005.

https://www.sdlookup.com/MLS-200054657-4260_Eastridge_Dr_La_Mesa_CA_91941%5B/quote%5D

La Mesa is interesting.. I had a property there that I did a 1031 exchange on 2 years ago. Yes, 2 years ago, prices were not that much more than 2005/6.

Then again, home prices also tanked there much more severely during the great recession, than say North County. I would say that given that area, there was a lot more sketchy borrowing by unqualified people versus say North County Coastal…So when the music stopped, things crashed pretty hard there.. It’s just a guess, based on my personal experience.

The short sales I picked up with about 57% off what the previous buyer paid in 2006.

I sold it 2 years ago about 2% above what the previous buy paid, or about 151% gain from my purchase price.

FWIW: today, similar units on in the same complex in less desirable locations have sold for 202% of what I paid for my unit. Compared to peak 2006 price, that would be about 21% above peak.

In just 2 years….Should have held onto a little longer…Oops. I guess one can’t win them all.

Fortunately, I did a 1031 exchange to a property in mira mesa… Had the location been more convenient and the tenant quality pool down there been better, I would have kept it and wouldn’t be trying to find another rental in this crazy market.

I don’t think even Mira Mesa crashed that hard during the great recession.

[Author]

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