All of us are vested in or interested in specific sub markets of San Diego. In my case I own a 4000 sq ft SFR in la Costa oaks purchased for 900k in 2010 and now renting at 5k per month (up from 4K in 2013). Current valuation about 1.35 per Zillow.
I tend to follow this market closely and what I believe I’m seeing is that neighboring properties priced in this range up to the high 1’s seem to be languishing (not moving) in terms of sales and days on the market. I think some folks are gunning for unrealistic prices but also that there may be some softness in this price range or for this specific micro market relative to the value proposition of this area.
I’m flagging this for discussion and for others to share what they are seeing in the micro markets and price ranges they are following.
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