- This topic has 414 replies, 24 voices, and was last updated 6 months, 1 week ago by
sdrealtor.
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March 29, 2022 at 4:22 PM #824711March 29, 2022 at 5:25 PM #824712
XBoxBoy
ParticipantI sure would have thought we’d see a pretty big slow down with interest rates going up like they have. Particularly in an area like Mira Mesa. But so far, not seeing the increase in inventory or the drop in demand. Shows you how little I know… or maybe just how crazy the situation is. Either way, I find the situation pretty spectacular. Maybe it’s still to come and deadzone will be right. But so far… not seeing it.
March 30, 2022 at 2:48 PM #824728oceanbreeze
ParticipantI paid $100K over asking for a Mira Mesa property I acquired back to Jan. At that time I felt pressure of low inventory and rising interest rate, so just told my agent to compete with other offers no matter what.
March 30, 2022 at 3:14 PM #824731limkotir
Participant[quote=oceanbreeze]I paid $100K over asking for a Mira Mesa property I acquired back to Jan. At that time I felt pressure of low inventory and rising interest rate, so just told my agent to compete with other offers no matter what.[/quote]
Just looked, there is currently One (1) SFH on sale… start look at condos and townhouses as starter homes for now.
I think the MM neighborhood (or was it zip 92126) is the largest community in the City of San Diego (or County?), defined as west of the 15, east of Camino Santa Fe, and north of the industrial park of Miramar has about 80,000 people? Someone who has 2020 census data can correct me here… I’m too busy/lazy to look it up.
March 30, 2022 at 3:21 PM #824733an
Participant[quote=limkotir][quote=oceanbreeze]I paid $100K over asking for a Mira Mesa property I acquired back to Jan. At that time I felt pressure of low inventory and rising interest rate, so just told my agent to compete with other offers no matter what.[/quote]
Just looked, there is currently One (1) SFH on sale… start look at condos and townhouses as starter homes for now.
I think the MM neighborhood (or was it zip 92126) is the largest community in the City of San Diego (or County?), defined as west of the 15, east of Camino Santa Fe, and north of the industrial park of Miramar has about 80,000 people? Someone who has 2020 census data can correct me here… I’m too busy/lazy to look it up.[/quote]
Make that Zero (0). Mira Mesa is officially sold out.March 30, 2022 at 3:22 PM #824734sdrealtor
ParticipantAs I said yesterday. I don’t make things up contrary to what deadzone claims
March 30, 2022 at 3:24 PM #824735Participant[quote=oceanbreeze]I paid $100K over asking for a Mira Mesa property I acquired back to Jan. At that time I felt pressure of low inventory and rising interest rate, so just told my agent to compete with other offers no matter what.[/quote]
Congrats and best of luck in your home
March 30, 2022 at 3:28 PM #824737Participant[quote=sdrealtor]As I said yesterday. I don’t make things up contrary to what deadzone claims[/quote]
I’ve been following Mira Mesa for almost 2 decades now and I have never seen MM sold out.March 30, 2022 at 4:27 PM #824738Participant[quote=an][quote=sdrealtor]As I said yesterday. I don’t make things up contrary to what deadzone claims[/quote]
I’ve been following Mira Mesa for almost 2 decades now and I have never seen MM sold out.[/quote]From my perspective, and sdrealtor said it himself, MM is a bit “undervalued” zip area, given its location (no need to explain) and public school performance, relative to the social economic class (or housing hold income level).
Obviously, MM has its own share of baggages and downsides, which we’ll save for another post…
On the public school performance, to buyers that care about such thing, instead of looking at the greatschools, USNews and all the school rating sites, I looked at the UC Admissions data for incoming undergrad freshmen for Fall 2021 (most recent data).
So I checked out how many kids applied vs admitted to Berkeley in the high schools in the within 10 mile radius of MM. (I did not include some high performing south bay and north county schools):
1. Canyon Crest – 53/359
2. Torrey Pines – 26/191
3. La Jolla High – 25/155
4. Del North – 22/187
5. Rancho Bernardo – 15/99
6. University High – 13/96
7. Westview High – 13/193
8. Scripps High – 10/124
9. Mira Mesa 11/69
10. Mt Carmel 9/82
11. Poway High 6/62I am going to mine 5-years of data and look at UCSD and UCB admissions, obtain the zip household income, to see if which public high schools in SD County always punch above its weight class (social economically). Because we all know better schools is a function of who lives there and what social economic class they belong in — let’s normalize school ratings!
SOURCE (Tableau data table, takes a bit of time to load). https://www.universityofcalifornia.edu/about-us/information-center/admissions-source-school
California Public Schools only
Campus = Berkeley
Filter on county = San DiegoMarch 30, 2022 at 4:40 PM #824741Participant[quote=sdrealtor][quote=oceanbreeze]I paid $100K over asking for a Mira Mesa property I acquired back to Jan. At that time I felt pressure of low inventory and rising interest rate, so just told my agent to compete with other offers no matter what.[/quote]
Congrats and best of luck in your home[/quote]
Thanks. I rented it out with 5% annual return rate. This is not bad. I think in 2021 and beginning of 2022 (before rate hike), 92126 is the rare zip code along 56 corridor still investable.
March 30, 2022 at 4:41 PM #824740Participantdeleted without proper quoting.
March 30, 2022 at 4:45 PM #824742
CoronitaParticipantToo rich for my blood… lol
Now, if a 1/1 in 92126 can sell for $500k+
that would be sweet…
March 30, 2022 at 5:49 PM #824743Participant[quote=limkotir][quote=an][quote=sdrealtor]As I said yesterday. I don’t make things up contrary to what deadzone claims[/quote]
I’ve been following Mira Mesa for almost 2 decades now and I have never seen MM sold out.[/quote]From my perspective, and sdrealtor said it himself, MM is a bit “undervalued” zip area, given its location (no need to explain) and public school performance, relative to the social economic class (or housing hold income level).
Obviously, MM has its own share of baggages and downsides, which we’ll save for another post…
On the public school performance, to buyers that care about such thing, instead of looking at the greatschools, USNews and all the school rating sites, I looked at the UC Admissions data for incoming undergrad freshmen for Fall 2021 (most recent data).
So I checked out how many kids applied vs admitted to Berkeley in the high schools in the within 10 mile radius of MM. (I did not include some high performing south bay and north county schools):
1. Canyon Crest – 53/359
2. Torrey Pines – 26/191
3. La Jolla High – 25/155
4. Del North – 22/187
5. Rancho Bernardo – 15/99
6. University High – 13/96
7. Westview High – 13/193
8. Scripps High – 10/124
9. Mira Mesa 11/69
10. Mt Carmel 9/82
11. Poway High 6/62I am going to mine 5-years of data and look at UCSD and UCB admissions, obtain the zip household income, to see if which public high schools in SD County always punch above its weight class (social economically). Because we all know better schools is a function of who lives there and what social economic class they belong in — let’s normalize school ratings!
SOURCE (Tableau data table, takes a bit of time to load). https://www.universityofcalifornia.edu/about-us/information-center/admissions-source-school
California Public Schools only
Campus = Berkeley
Filter on county = San Diego[/quote]That will be cool and please share. I just found one thing that was really interesting to me.
UCSD 2021 applied/admitted/enrolled
Mira Mesa 153/71/47
Torrey Pines 207/95/37
Canyon Crest 397/177/71They all have about 46% acceptance but 66% of the MM kids enroll vs about 40% of the CV kids. I guess that makes sense social economically as the MM kids are more prone to live at home and commute but still very impressive numbers
March 30, 2022 at 7:24 PM #824744Participant8576 Andromeda Rd
https://www.coldwellbankerhomes.com/ca/san-diego/8576-andromeda-rd/pid_45743569/
(Contains the old pic of the house)
Sold for $750K on 2/10/2022https://www.redfin.com/CA/San-Diego/8576-Andromeda-Rd-92126/home/4527421
(Contains the new flip job pics)
Will list for $1.374m this Sat (~40 days later) with a flip job. Probably will sell around that price.This is what people are battling in older neighborhoods such as MM.
March 30, 2022 at 9:46 PM #824745Participant[quote=limkotir]8576 Andromeda Rd
https://www.coldwellbankerhomes.com/ca/san-diego/8576-andromeda-rd/pid_45743569/
(Contains the old pic of the house)
Sold for $750K on 2/10/2022https://www.redfin.com/CA/San-Diego/8576-Andromeda-Rd-92126/home/4527421
(Contains the new flip job pics)
Will list for $1.374m this Sat (~40 days later) with a flip job. Probably will sell around that price.This is what people are battling in older neighborhoods such as MM.[/quote]
The flip cost won’t be more than 200K, so flipping old house in MM sounds a profitable business at least for this case.
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