Mira Mesa – 8767 Jade Coast Dr – makes sense at $365K???

[adieu]

Hi,

There seems to be a lot of people who know Mira Mesa area well. I’m wondering if it makes sense to get this property at $365K?

http://www.teamaguilar.com/home-details-120010287.html

The home is completely remodeled in move in condition with a little privacy in the backyard with trees built over the Vulcan mine.

The only drawbacks on this house seems to be the occasional noise during weekdays coming from the mine and the neighborhood does not look as nice as West or Northwest MM.

Is this a good location in general to buy properties?

Any thoughts will be greatly appreciated, thanks!

[an]

The price seems alright. Not a screaming deal but not overpriced either.

WRT to the Vulcan mine, you won’t have to worry about it much longer if you decide to buy it. That whole area will be redeveloped into a master planned community called Stone Creek. You can Google that. They’re in planning stage and last I heard, they’re planning to start building around 2015 (3 years from now). So, you might end up getting to use all their new parks that will be built since you’re close by.

The down side with that are is, the Elementary school is Walker Elementary. It has the lowest API score of all MM. Which is why it’s priced in the mid $300k vs high $300k.

[adieu]

Wow, thanks for the speedy and helpful reply AN!

What would you consider to be a screaming deal for this area? Do you think it makes more sense to buy a cheaper property and fix it myself or to buy a flip like this that is completely redone?

Also, at this price there are some homes in Poway that are in similar conditions; would it make more sense in the long term to buy in Poway instead of MM?

Sorry for the many questions, thanks in advance for your replies!

[an]

A screaming deal would be in the low $300k, like $330k or less? The only problem with buying a fixer in MM is, you’ll be competing with cash buyers. AFAIK, most of the fixer for sale are at deep discount and cash investors scoop them up. If you can find one that’s going for $300k flat or less and are not being swamped by investor and you want to upgrade it yourself, that’s what I would do. It’s always cheaper and better to do your own upgrade.

WRT to comparing this to Poway, it really depends on what you’re looking for. My crystal ball is cloudy, so I can’t really tell you which one will appreciate more in the future, but I would think MM have gotten hit more than Poway. Which would mean there’s more value to be had in MM than Poway, but I could be wrong.

[adieu]

It’d be nice to have a clear crystal ball right? 🙂

Thanks for your help!

[Wah-Wah]

this seems compatible with the other house for only $335k
http://www.redfin.com/CA/San-Diego/10235-Saluda-Ave-92126/home/4851090

[an]

[quote=Wah-Wah]this seems compatible with the other house for only $335k
http://www.redfin.com/CA/San-Diego/10235-Saluda-Ave-92126/home/4851090%5B/quote%5D
The Jade Coast property seems to be better upgraded. Also, the location is a little more private with the Jade Coast property, since there’s no one behind you.

[Author]

Posts