Help – Rents in UTC / Mira Mesa areas: where are they headed?

[saneesing]

It’s the time to look for a new apartment again!

I have been talking to a few apartments in UTC/Mira Mesa area. And, to my surprise, the apartment managers are talking very nicely these days and specials abound everywhere (around 1600/2br in UTC and around 1500/2br in Mira Mesa)

I got the feeling that may be the demand is a little soft. (Some of them have called me back a few times offering this special and that special. One manager even sent a card to my home!). I am just curious to know if this is just a seasonal thing or if this is due to the slow economy and/or housing burst?

Can anyone help me understand what might be going on here? Anybody has insights as to where the rents are headed? (I am just trying to figure out if I should push my luck by waiting some more time)

Thanks in advance!
-sanee

[an]

I don’t know much about UTC rent, but for MM rent, $1500/month is definitely higher than what it was a year ago. Remember that rent is higher by about 5-10% during summer vs winter for a 2bed/2bath apartment. A 2bed/2bath apartment in Summer 2007 was around $1350-1400 and winter 2007/2008, it was around 1300-1350. So, now that it’s $1500/month during winter month is not a softening. They probably are just trying to get rid of a few unit during winter months. You will always find better deals around this time vs May-August.

[an]

I don’t know much about UTC rent, but for MM rent, $1500/month is definitely higher than what it was a year ago. Remember that rent is higher by about 5-10% during summer vs winter for a 2bed/2bath apartment. A 2bed/2bath apartment in Summer 2007 was around $1350-1400 and winter 2007/2008, it was around 1300-1350. So, now that it’s $1500/month during winter month is not a softening. They probably are just trying to get rid of a few unit during winter months. You will always find better deals around this time vs May-August.

[an]

I don’t know much about UTC rent, but for MM rent, $1500/month is definitely higher than what it was a year ago. Remember that rent is higher by about 5-10% during summer vs winter for a 2bed/2bath apartment. A 2bed/2bath apartment in Summer 2007 was around $1350-1400 and winter 2007/2008, it was around 1300-1350. So, now that it’s $1500/month during winter month is not a softening. They probably are just trying to get rid of a few unit during winter months. You will always find better deals around this time vs May-August.

[an]

I don’t know much about UTC rent, but for MM rent, $1500/month is definitely higher than what it was a year ago. Remember that rent is higher by about 5-10% during summer vs winter for a 2bed/2bath apartment. A 2bed/2bath apartment in Summer 2007 was around $1350-1400 and winter 2007/2008, it was around 1300-1350. So, now that it’s $1500/month during winter month is not a softening. They probably are just trying to get rid of a few unit during winter months. You will always find better deals around this time vs May-August.

[an]

I don’t know much about UTC rent, but for MM rent, $1500/month is definitely higher than what it was a year ago. Remember that rent is higher by about 5-10% during summer vs winter for a 2bed/2bath apartment. A 2bed/2bath apartment in Summer 2007 was around $1350-1400 and winter 2007/2008, it was around 1300-1350. So, now that it’s $1500/month during winter month is not a softening. They probably are just trying to get rid of a few unit during winter months. You will always find better deals around this time vs May-August.

[Eugene]

1600 for 2br in UTC does not strike me as very cheap. I left UTC because 2br rents in my complex were starting at 1550/month and I found a place in Rancho Bernardo for 1330. There was one complex supposedly starting in 1400’s (the one that shares the parking lot with Macy’s) but there was no availability. That was in 2006.

[Eugene]

1600 for 2br in UTC does not strike me as very cheap. I left UTC because 2br rents in my complex were starting at 1550/month and I found a place in Rancho Bernardo for 1330. There was one complex supposedly starting in 1400’s (the one that shares the parking lot with Macy’s) but there was no availability. That was in 2006.

[Eugene]

1600 for 2br in UTC does not strike me as very cheap. I left UTC because 2br rents in my complex were starting at 1550/month and I found a place in Rancho Bernardo for 1330. There was one complex supposedly starting in 1400’s (the one that shares the parking lot with Macy’s) but there was no availability. That was in 2006.

[Eugene]

1600 for 2br in UTC does not strike me as very cheap. I left UTC because 2br rents in my complex were starting at 1550/month and I found a place in Rancho Bernardo for 1330. There was one complex supposedly starting in 1400’s (the one that shares the parking lot with Macy’s) but there was no availability. That was in 2006.

[Eugene]

1600 for 2br in UTC does not strike me as very cheap. I left UTC because 2br rents in my complex were starting at 1550/month and I found a place in Rancho Bernardo for 1330. There was one complex supposedly starting in 1400’s (the one that shares the parking lot with Macy’s) but there was no availability. That was in 2006.

[saneesing]

So, you are saying that this is perhaps a seasonal thing and they are probably just eager to dump a few vacant units.

I was not aware of the typical rents in MM area, so thanks for that info. (However, at least one specific complex(Summerset) which was charging around 1700/2br a few months ago now has deals for as low as 1400/2br now)

As far as UTC is concerned, (which is where I live now) 1700+/2br was the norm in recent times in the decent apartment complexes (not talking about the super expensive ones). Again this may just be a seasonal thing.

Thanks
– Sanee

[saneesing]

So, you are saying that this is perhaps a seasonal thing and they are probably just eager to dump a few vacant units.

I was not aware of the typical rents in MM area, so thanks for that info. (However, at least one specific complex(Summerset) which was charging around 1700/2br a few months ago now has deals for as low as 1400/2br now)

As far as UTC is concerned, (which is where I live now) 1700+/2br was the norm in recent times in the decent apartment complexes (not talking about the super expensive ones). Again this may just be a seasonal thing.

Thanks
– Sanee

[saneesing]

So, you are saying that this is perhaps a seasonal thing and they are probably just eager to dump a few vacant units.

I was not aware of the typical rents in MM area, so thanks for that info. (However, at least one specific complex(Summerset) which was charging around 1700/2br a few months ago now has deals for as low as 1400/2br now)

As far as UTC is concerned, (which is where I live now) 1700+/2br was the norm in recent times in the decent apartment complexes (not talking about the super expensive ones). Again this may just be a seasonal thing.

Thanks
– Sanee

[saneesing]

So, you are saying that this is perhaps a seasonal thing and they are probably just eager to dump a few vacant units.

I was not aware of the typical rents in MM area, so thanks for that info. (However, at least one specific complex(Summerset) which was charging around 1700/2br a few months ago now has deals for as low as 1400/2br now)

As far as UTC is concerned, (which is where I live now) 1700+/2br was the norm in recent times in the decent apartment complexes (not talking about the super expensive ones). Again this may just be a seasonal thing.

Thanks
– Sanee

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