Lucera Condo – $199k

[sdnerd]

Doubtful 2bdrms will fall below $200k. Comparable rents are $1,800-2,000. Rents would have to fall significantly, or we’d have one major over-correction.

Last 2bdrm sold was $300k, with highs of around $450k I believe. The last 1bdrm sold for $230k, highs of around $340k.

They will come down some more, but I think the price reductions will start moving up the ladder with the lower end slowing down.

Fireplace comment spot on – if you rent or buy a unit, get one without the FP. Very significant space difference.

I had the 1 vs 2 bedroom debate before I purchased. I chose 1 bdrm as it allowed to have much lower monthlies, allowing me stockpile a horde of cash. Easier to sell a 2 bedroom, but you can always rent the cheapest unit in a complex. Pros & Cons.

[patientlywaiting]

I’ve been in that complex but i don’t remember all the details.

Is the fireplace one of those fake electric ones? If so, you could remove it and re-drywall the wall. But there’s a cost to that. I feel that fireplaces are absolutely worthless, especially in apartments.

I’m in the camp that two-bedrooms will fall below $200k. And that rents will fall accordingly.

There will be more and more out-migration from San Diego and landlords will have to give 1 to 2 months of free rent (and low deposit requirements) to lure renters. It’s already happenning in some complexes.

I also don’t believe that people will start buying when rent equals buy. Renting adds flexiblity and young folks need the mobility to build their careers. Without the upside uphoria, there will be few buyers.

There are two-bedrooms in North County (San Marcos and Vista) for $200k already. The pain train will stop at UTC as well.

Time will tell.

[patientlywaiting]

I’ve been in that complex but i don’t remember all the details.

Is the fireplace one of those fake electric ones? If so, you could remove it and re-drywall the wall. But there’s a cost to that. I feel that fireplaces are absolutely worthless, especially in apartments.

I’m in the camp that two-bedrooms will fall below $200k. And that rents will fall accordingly.

There will be more and more out-migration from San Diego and landlords will have to give 1 to 2 months of free rent (and low deposit requirements) to lure renters. It’s already happenning in some complexes.

I also don’t believe that people will start buying when rent equals buy. Renting adds flexiblity and young folks need the mobility to build their careers. Without the upside uphoria, there will be few buyers.

There are two-bedrooms in North County (San Marcos and Vista) for $200k already. The pain train will stop at UTC as well.

Time will tell.

[patientlywaiting]

I’ve been in that complex but i don’t remember all the details.

Is the fireplace one of those fake electric ones? If so, you could remove it and re-drywall the wall. But there’s a cost to that. I feel that fireplaces are absolutely worthless, especially in apartments.

I’m in the camp that two-bedrooms will fall below $200k. And that rents will fall accordingly.

There will be more and more out-migration from San Diego and landlords will have to give 1 to 2 months of free rent (and low deposit requirements) to lure renters. It’s already happenning in some complexes.

I also don’t believe that people will start buying when rent equals buy. Renting adds flexiblity and young folks need the mobility to build their careers. Without the upside uphoria, there will be few buyers.

There are two-bedrooms in North County (San Marcos and Vista) for $200k already. The pain train will stop at UTC as well.

Time will tell.

[patientlywaiting]

I’ve been in that complex but i don’t remember all the details.

Is the fireplace one of those fake electric ones? If so, you could remove it and re-drywall the wall. But there’s a cost to that. I feel that fireplaces are absolutely worthless, especially in apartments.

I’m in the camp that two-bedrooms will fall below $200k. And that rents will fall accordingly.

There will be more and more out-migration from San Diego and landlords will have to give 1 to 2 months of free rent (and low deposit requirements) to lure renters. It’s already happenning in some complexes.

I also don’t believe that people will start buying when rent equals buy. Renting adds flexiblity and young folks need the mobility to build their careers. Without the upside uphoria, there will be few buyers.

There are two-bedrooms in North County (San Marcos and Vista) for $200k already. The pain train will stop at UTC as well.

Time will tell.

[patientlywaiting]

I’ve been in that complex but i don’t remember all the details.

Is the fireplace one of those fake electric ones? If so, you could remove it and re-drywall the wall. But there’s a cost to that. I feel that fireplaces are absolutely worthless, especially in apartments.

I’m in the camp that two-bedrooms will fall below $200k. And that rents will fall accordingly.

There will be more and more out-migration from San Diego and landlords will have to give 1 to 2 months of free rent (and low deposit requirements) to lure renters. It’s already happenning in some complexes.

I also don’t believe that people will start buying when rent equals buy. Renting adds flexiblity and young folks need the mobility to build their careers. Without the upside uphoria, there will be few buyers.

There are two-bedrooms in North County (San Marcos and Vista) for $200k already. The pain train will stop at UTC as well.

Time will tell.

[sdnerd]

I don’t recall about the fireplace; I don’t have one. Agree they are worthless.

To fall below $200k they’d need another 30% price reduction on top of the 33% they’ve already fallen. At that point 1 bedrooms would be around $120k. A bit of wishful thinking IMHO, like the people who think they will be buying a $800k originally priced home in CV for $300k (as much as I wouldn’t mind that).

Rents would have to plunge, and there would have to be massive layoffs in the surrounding area.

I’d put my money on government bailouts way before I placed that bet.

With the constant rate cuts, cash will be earning no interest any day now. And at those prices, heck I’d buy a few with cash and then play jingle mail with my original purchase.

Time will tell, and maybe I’m biased. I just know too many people with truckloads of cash who are running out of places to put it & itching to buy. Paying $20-40k/year in rent does have its cost as much as people tend to ignore it sometimes on sites like this.

As the #s start penciling out better, I think they’ll start getting bought up – let alone all the crazy ideas the government is kicking around. They are going to keep doing something, whether it helps or not it’s already slowed the pain train down. And I suspect they aren’t done yet, not by a long shot.

[sdnerd]

I don’t recall about the fireplace; I don’t have one. Agree they are worthless.

To fall below $200k they’d need another 30% price reduction on top of the 33% they’ve already fallen. At that point 1 bedrooms would be around $120k. A bit of wishful thinking IMHO, like the people who think they will be buying a $800k originally priced home in CV for $300k (as much as I wouldn’t mind that).

Rents would have to plunge, and there would have to be massive layoffs in the surrounding area.

I’d put my money on government bailouts way before I placed that bet.

With the constant rate cuts, cash will be earning no interest any day now. And at those prices, heck I’d buy a few with cash and then play jingle mail with my original purchase.

Time will tell, and maybe I’m biased. I just know too many people with truckloads of cash who are running out of places to put it & itching to buy. Paying $20-40k/year in rent does have its cost as much as people tend to ignore it sometimes on sites like this.

As the #s start penciling out better, I think they’ll start getting bought up – let alone all the crazy ideas the government is kicking around. They are going to keep doing something, whether it helps or not it’s already slowed the pain train down. And I suspect they aren’t done yet, not by a long shot.

[sdnerd]

I don’t recall about the fireplace; I don’t have one. Agree they are worthless.

To fall below $200k they’d need another 30% price reduction on top of the 33% they’ve already fallen. At that point 1 bedrooms would be around $120k. A bit of wishful thinking IMHO, like the people who think they will be buying a $800k originally priced home in CV for $300k (as much as I wouldn’t mind that).

Rents would have to plunge, and there would have to be massive layoffs in the surrounding area.

I’d put my money on government bailouts way before I placed that bet.

With the constant rate cuts, cash will be earning no interest any day now. And at those prices, heck I’d buy a few with cash and then play jingle mail with my original purchase.

Time will tell, and maybe I’m biased. I just know too many people with truckloads of cash who are running out of places to put it & itching to buy. Paying $20-40k/year in rent does have its cost as much as people tend to ignore it sometimes on sites like this.

As the #s start penciling out better, I think they’ll start getting bought up – let alone all the crazy ideas the government is kicking around. They are going to keep doing something, whether it helps or not it’s already slowed the pain train down. And I suspect they aren’t done yet, not by a long shot.

[sdnerd]

I don’t recall about the fireplace; I don’t have one. Agree they are worthless.

To fall below $200k they’d need another 30% price reduction on top of the 33% they’ve already fallen. At that point 1 bedrooms would be around $120k. A bit of wishful thinking IMHO, like the people who think they will be buying a $800k originally priced home in CV for $300k (as much as I wouldn’t mind that).

Rents would have to plunge, and there would have to be massive layoffs in the surrounding area.

I’d put my money on government bailouts way before I placed that bet.

With the constant rate cuts, cash will be earning no interest any day now. And at those prices, heck I’d buy a few with cash and then play jingle mail with my original purchase.

Time will tell, and maybe I’m biased. I just know too many people with truckloads of cash who are running out of places to put it & itching to buy. Paying $20-40k/year in rent does have its cost as much as people tend to ignore it sometimes on sites like this.

As the #s start penciling out better, I think they’ll start getting bought up – let alone all the crazy ideas the government is kicking around. They are going to keep doing something, whether it helps or not it’s already slowed the pain train down. And I suspect they aren’t done yet, not by a long shot.

[sdnerd]

I don’t recall about the fireplace; I don’t have one. Agree they are worthless.

To fall below $200k they’d need another 30% price reduction on top of the 33% they’ve already fallen. At that point 1 bedrooms would be around $120k. A bit of wishful thinking IMHO, like the people who think they will be buying a $800k originally priced home in CV for $300k (as much as I wouldn’t mind that).

Rents would have to plunge, and there would have to be massive layoffs in the surrounding area.

I’d put my money on government bailouts way before I placed that bet.

With the constant rate cuts, cash will be earning no interest any day now. And at those prices, heck I’d buy a few with cash and then play jingle mail with my original purchase.

Time will tell, and maybe I’m biased. I just know too many people with truckloads of cash who are running out of places to put it & itching to buy. Paying $20-40k/year in rent does have its cost as much as people tend to ignore it sometimes on sites like this.

As the #s start penciling out better, I think they’ll start getting bought up – let alone all the crazy ideas the government is kicking around. They are going to keep doing something, whether it helps or not it’s already slowed the pain train down. And I suspect they aren’t done yet, not by a long shot.

[patientlywaiting]

Quick response before I’m off to bed.

This 2/2 sold for $270 back in Nov. Don’t you think that the market is lower now than a few months ago?
http://www.sdlookup.com/Property-65B64F65-7130_Shoreline_Dr_1203_San_Diego_CA_92122

This one is listed at $274,000. It’s a short sale and will most likely go into foreclosure. I think that when it sell it’ll go lower than $250k.
http://www.sdlookup.com/MLS-086017405-7190_Shoreline_Dr_6203_San_Diego_CA_92122
Would someone please check if this received an NOD?

We’re not too far off of $200k for a 2/2 at Lucera.

Here’s an old thread on Lucera. http://piggington.com/what_is_a_fair_price_for_this_property

As far as the economy goes, I beleive that, yes, we’ll have massive lay-offs in the high-cost areas. With the weak Dollar, there’ll be outsourcing within the country to low-cost areas such as South Carolina, Michigan, Indiana, etc…

[patientlywaiting]

Quick response before I’m off to bed.

This 2/2 sold for $270 back in Nov. Don’t you think that the market is lower now than a few months ago?
http://www.sdlookup.com/Property-65B64F65-7130_Shoreline_Dr_1203_San_Diego_CA_92122

This one is listed at $274,000. It’s a short sale and will most likely go into foreclosure. I think that when it sell it’ll go lower than $250k.
http://www.sdlookup.com/MLS-086017405-7190_Shoreline_Dr_6203_San_Diego_CA_92122
Would someone please check if this received an NOD?

We’re not too far off of $200k for a 2/2 at Lucera.

Here’s an old thread on Lucera. http://piggington.com/what_is_a_fair_price_for_this_property

As far as the economy goes, I beleive that, yes, we’ll have massive lay-offs in the high-cost areas. With the weak Dollar, there’ll be outsourcing within the country to low-cost areas such as South Carolina, Michigan, Indiana, etc…

[patientlywaiting]

Quick response before I’m off to bed.

This 2/2 sold for $270 back in Nov. Don’t you think that the market is lower now than a few months ago?
http://www.sdlookup.com/Property-65B64F65-7130_Shoreline_Dr_1203_San_Diego_CA_92122

This one is listed at $274,000. It’s a short sale and will most likely go into foreclosure. I think that when it sell it’ll go lower than $250k.
http://www.sdlookup.com/MLS-086017405-7190_Shoreline_Dr_6203_San_Diego_CA_92122
Would someone please check if this received an NOD?

We’re not too far off of $200k for a 2/2 at Lucera.

Here’s an old thread on Lucera. http://piggington.com/what_is_a_fair_price_for_this_property

As far as the economy goes, I beleive that, yes, we’ll have massive lay-offs in the high-cost areas. With the weak Dollar, there’ll be outsourcing within the country to low-cost areas such as South Carolina, Michigan, Indiana, etc…

[patientlywaiting]

Quick response before I’m off to bed.

This 2/2 sold for $270 back in Nov. Don’t you think that the market is lower now than a few months ago?
http://www.sdlookup.com/Property-65B64F65-7130_Shoreline_Dr_1203_San_Diego_CA_92122

This one is listed at $274,000. It’s a short sale and will most likely go into foreclosure. I think that when it sell it’ll go lower than $250k.
http://www.sdlookup.com/MLS-086017405-7190_Shoreline_Dr_6203_San_Diego_CA_92122
Would someone please check if this received an NOD?

We’re not too far off of $200k for a 2/2 at Lucera.

Here’s an old thread on Lucera. http://piggington.com/what_is_a_fair_price_for_this_property

As far as the economy goes, I beleive that, yes, we’ll have massive lay-offs in the high-cost areas. With the weak Dollar, there’ll be outsourcing within the country to low-cost areas such as South Carolina, Michigan, Indiana, etc…

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