Higher End RE

[DaCounselor]

Until just this past week, Mission Hills has been one of the deadest “higher-end” areas in SD County in the $1 mil-plus market. There has been a recent flurry of closings in the $1 mil-plus range but overall it has been very slow year. We will certainly know much more once we get through the summer. I’m estimating about 70 $1 mil-plus listings in the area currently, so there is alot of inventory for this area. I haven’t looked hard at the numbers recently but I’m estimating that is 2-3 years of inventory in the $1 mil-plus market. I’m expecting further downward pressure on prices for several years in MH.

[XBoxBoy]

2-stroke triple,

Be sure you don’t confuse comments by people about hot markets with the high priced markets. They are not the same. I don’t think anyone on this board is claiming that houses priced $750,000 to 1.5m are flying off the market. If so, I would immediately challenge them to show some examples.

The high end markets are all very slow. Some extremely slow. Jim The Realtor has a post on his blog a day or so ago that pointed out that in Del Mar and Rancho Sante Fe in June, 60 new listings came on the market and not one of them found a buyer!

http://www.bubbleinfo.com/2009/06/hotness-factor/

People always want to paint the situation with a broad brush, but nowadays, any broad brush will be a gross misrepresentation of what is going on.

BTW. I used to live in Kensington north of adams. It is still my favorite neighborhood in all of san diego hands down. You can’t go wrong buying there.

XBoxBoy

[XBoxBoy]

2-stroke triple,

Be sure you don’t confuse comments by people about hot markets with the high priced markets. They are not the same. I don’t think anyone on this board is claiming that houses priced $750,000 to 1.5m are flying off the market. If so, I would immediately challenge them to show some examples.

The high end markets are all very slow. Some extremely slow. Jim The Realtor has a post on his blog a day or so ago that pointed out that in Del Mar and Rancho Sante Fe in June, 60 new listings came on the market and not one of them found a buyer!

http://www.bubbleinfo.com/2009/06/hotness-factor/

People always want to paint the situation with a broad brush, but nowadays, any broad brush will be a gross misrepresentation of what is going on.

BTW. I used to live in Kensington north of adams. It is still my favorite neighborhood in all of san diego hands down. You can’t go wrong buying there.

XBoxBoy

[XBoxBoy]

2-stroke triple,

Be sure you don’t confuse comments by people about hot markets with the high priced markets. They are not the same. I don’t think anyone on this board is claiming that houses priced $750,000 to 1.5m are flying off the market. If so, I would immediately challenge them to show some examples.

The high end markets are all very slow. Some extremely slow. Jim The Realtor has a post on his blog a day or so ago that pointed out that in Del Mar and Rancho Sante Fe in June, 60 new listings came on the market and not one of them found a buyer!

http://www.bubbleinfo.com/2009/06/hotness-factor/

People always want to paint the situation with a broad brush, but nowadays, any broad brush will be a gross misrepresentation of what is going on.

BTW. I used to live in Kensington north of adams. It is still my favorite neighborhood in all of san diego hands down. You can’t go wrong buying there.

XBoxBoy

[XBoxBoy]

2-stroke triple,

Be sure you don’t confuse comments by people about hot markets with the high priced markets. They are not the same. I don’t think anyone on this board is claiming that houses priced $750,000 to 1.5m are flying off the market. If so, I would immediately challenge them to show some examples.

The high end markets are all very slow. Some extremely slow. Jim The Realtor has a post on his blog a day or so ago that pointed out that in Del Mar and Rancho Sante Fe in June, 60 new listings came on the market and not one of them found a buyer!

http://www.bubbleinfo.com/2009/06/hotness-factor/

People always want to paint the situation with a broad brush, but nowadays, any broad brush will be a gross misrepresentation of what is going on.

BTW. I used to live in Kensington north of adams. It is still my favorite neighborhood in all of san diego hands down. You can’t go wrong buying there.

XBoxBoy

[XBoxBoy]

2-stroke triple,

Be sure you don’t confuse comments by people about hot markets with the high priced markets. They are not the same. I don’t think anyone on this board is claiming that houses priced $750,000 to 1.5m are flying off the market. If so, I would immediately challenge them to show some examples.

The high end markets are all very slow. Some extremely slow. Jim The Realtor has a post on his blog a day or so ago that pointed out that in Del Mar and Rancho Sante Fe in June, 60 new listings came on the market and not one of them found a buyer!

http://www.bubbleinfo.com/2009/06/hotness-factor/

People always want to paint the situation with a broad brush, but nowadays, any broad brush will be a gross misrepresentation of what is going on.

BTW. I used to live in Kensington north of adams. It is still my favorite neighborhood in all of san diego hands down. You can’t go wrong buying there.

XBoxBoy

[snail]

2 stroke triple? It is H1 or H2, or the Suzuki water buffalo? Sorry for the highjack.

[snail]

2 stroke triple? It is H1 or H2, or the Suzuki water buffalo? Sorry for the highjack.

[snail]

2 stroke triple? It is H1 or H2, or the Suzuki water buffalo? Sorry for the highjack.

[snail]

2 stroke triple? It is H1 or H2, or the Suzuki water buffalo? Sorry for the highjack.

[snail]

2 stroke triple? It is H1 or H2, or the Suzuki water buffalo? Sorry for the highjack.

[2-stroke triple]

Thanks for the inputs everyone. We will continue to be patient. Hopefully the higher end will be cheaper by next summer. Having no children, I hadn’t given much thought to the schools issue in Mission Hills and Kensington.

We just renewed our lease in Coronado, giving us another year. Additionally, the landlord lowered our rent after we stated that we were looking for a less-expensive house. Lots of properties here for rent, something we are not used to seeing particularly in summer.

Regarding Kensington, I have talked to more people who have stated that Kensington is their favorite neighborhood in San Diego. I guess when it gets down to family considerations, many who would like to live there and could afford to do so put their kids first and choose areas with better schools. I can just imagine how expensive Kensington would be if it had decent schools.

Regarding current housing prices throughout the county, it appears that there may be a price point where buyers are balking. Perhaps it’s somewhere between $600,000 and a million. Maybe it has to do with the conforming loan limit. Properties below this magic number are moving quickly, while those above aren’t.

A gross generalization perhaps? Neighborhood dependent?

The bike is a 1972 H2 almost fully restored. I ride it maybe three times a year. It’s a head turner. Partner hates it because it’s not comfortable and because we always smell like two-stroke oil after taking it out (part of the charm actually). So I’m pretty much left to short spins around town.

[2-stroke triple]

Thanks for the inputs everyone. We will continue to be patient. Hopefully the higher end will be cheaper by next summer. Having no children, I hadn’t given much thought to the schools issue in Mission Hills and Kensington.

We just renewed our lease in Coronado, giving us another year. Additionally, the landlord lowered our rent after we stated that we were looking for a less-expensive house. Lots of properties here for rent, something we are not used to seeing particularly in summer.

Regarding Kensington, I have talked to more people who have stated that Kensington is their favorite neighborhood in San Diego. I guess when it gets down to family considerations, many who would like to live there and could afford to do so put their kids first and choose areas with better schools. I can just imagine how expensive Kensington would be if it had decent schools.

Regarding current housing prices throughout the county, it appears that there may be a price point where buyers are balking. Perhaps it’s somewhere between $600,000 and a million. Maybe it has to do with the conforming loan limit. Properties below this magic number are moving quickly, while those above aren’t.

A gross generalization perhaps? Neighborhood dependent?

The bike is a 1972 H2 almost fully restored. I ride it maybe three times a year. It’s a head turner. Partner hates it because it’s not comfortable and because we always smell like two-stroke oil after taking it out (part of the charm actually). So I’m pretty much left to short spins around town.

[2-stroke triple]

Thanks for the inputs everyone. We will continue to be patient. Hopefully the higher end will be cheaper by next summer. Having no children, I hadn’t given much thought to the schools issue in Mission Hills and Kensington.

We just renewed our lease in Coronado, giving us another year. Additionally, the landlord lowered our rent after we stated that we were looking for a less-expensive house. Lots of properties here for rent, something we are not used to seeing particularly in summer.

Regarding Kensington, I have talked to more people who have stated that Kensington is their favorite neighborhood in San Diego. I guess when it gets down to family considerations, many who would like to live there and could afford to do so put their kids first and choose areas with better schools. I can just imagine how expensive Kensington would be if it had decent schools.

Regarding current housing prices throughout the county, it appears that there may be a price point where buyers are balking. Perhaps it’s somewhere between $600,000 and a million. Maybe it has to do with the conforming loan limit. Properties below this magic number are moving quickly, while those above aren’t.

A gross generalization perhaps? Neighborhood dependent?

The bike is a 1972 H2 almost fully restored. I ride it maybe three times a year. It’s a head turner. Partner hates it because it’s not comfortable and because we always smell like two-stroke oil after taking it out (part of the charm actually). So I’m pretty much left to short spins around town.

[2-stroke triple]

Thanks for the inputs everyone. We will continue to be patient. Hopefully the higher end will be cheaper by next summer. Having no children, I hadn’t given much thought to the schools issue in Mission Hills and Kensington.

We just renewed our lease in Coronado, giving us another year. Additionally, the landlord lowered our rent after we stated that we were looking for a less-expensive house. Lots of properties here for rent, something we are not used to seeing particularly in summer.

Regarding Kensington, I have talked to more people who have stated that Kensington is their favorite neighborhood in San Diego. I guess when it gets down to family considerations, many who would like to live there and could afford to do so put their kids first and choose areas with better schools. I can just imagine how expensive Kensington would be if it had decent schools.

Regarding current housing prices throughout the county, it appears that there may be a price point where buyers are balking. Perhaps it’s somewhere between $600,000 and a million. Maybe it has to do with the conforming loan limit. Properties below this magic number are moving quickly, while those above aren’t.

A gross generalization perhaps? Neighborhood dependent?

The bike is a 1972 H2 almost fully restored. I ride it maybe three times a year. It’s a head turner. Partner hates it because it’s not comfortable and because we always smell like two-stroke oil after taking it out (part of the charm actually). So I’m pretty much left to short spins around town.

[Author]

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