Mira Mesa on fire-prices have started increasing

[sdrealtor]

Agreed. It was a short sale so they put up with something a deserve a 5% discount IMO. Once you get over 450K the market in MM eases up a bit

[an]

[quote=sdrealtor]Agreed. It was a short sale so they put up with something a deserve a 5% discount IMO. Once you get over 450K the market in MM eases up a bit[/quote]
The Dancy property went pending pretty quickly with multiple offers and it’s priced at 450k-500k. There are only 4 properties in MM above $450k that’s currently available. The rest are under contingent. So, I’m not sure if the limit is $450k. Maybe it’s $500k or $550k.

[sdrealtor]

Not saying there isn’t strong demand above 450. It just seems like the market gets a little less frenetic somewhere between 450 and 500

[ninaprincess]

Almost all decently priced condos in Mira Mesa are in contigent. I define decent price as 1/1 under $140k, and 2/2 under $170k.

[spdrun]

contingent doesn’t mean it will go through — seems like (from what people here have said), people throw out multiple offers and see what sticks.

[an]

[quote=spdrun]contingent doesn’t mean it will go through — seems like (from what people here have said), people throw out multiple offers and see what sticks.[/quote]
You must not know this submarket…

[Coronita]

[quote=spdrun]contingent doesn’t mean it will go through — seems like (from what people here have said), people throw out multiple offers and see what sticks.[/quote]

Um, yes and usually if someone does back out, there is backup offer #1,#2……#n who snatches it up within a week or two… Trust me on this one.

[an]

[quote=sdrealtor][quote=AN]Talking about jobs in MM, looks like good time is here again: http://www.utsandiego.com/news/2012/jun/11/shire-add-several-hundred-biotech-jobs/?sciquest

Here’s another one, a block away: http://www.sdlookup.com/MLS-120028338-7815_Dancy_Rd_San_Diego_CA_92126. Went pending after a few days with multiple offers. Take a look at the interior. That’s straight out of the 80s. Take a look at the asking price too, that’s $50k more than the Feller Cv house. I guess that’s the difference between short sale and equity sale.[/quote]

Its a range price on Dancy from 450 to 500K. My guess would be closer to 450K but we will have to see. Shouldnt be much of a difference on final sales prices.[/quote]
Here’s another one, a few blocks away: http://www.sdlookup.com/MLS-120032791-10119_Parkdale_Ave_San_Diego_CA_92126. Exact same floor plan. Asking $425-450k and went pending after 2 weeks. The interior is also straight out of the 80s. My guess is, the Dancy one will close around $480k, the Feller and Parkdale ones will close around $450k.

[Coronita]

Well, fwiw. Rent for a 1 bdroom now can be done for almost $1300/month for 6month lease if you have availability right now. I’ve started to solicit for a rent in case my current tenant moves out and wanted to see what the rent will fetch. I asked around $1250 for either a 6m or 1y lease. Folks came back and said they needed to move in right now and they would be willing to pay $1350-$1450 month to month or 3 months.. I told them I only do 6months min, and folks have come back and said they’ll pay $1300 for 6month, if they can move in right now…
Unfortunately, I don’t have availability right now. So it doesn’t work for me.

I checked in MM. Not many 1/1 available right now, even at the bellweather Somerset…And they’ve jacked up rent again.

Not bad eh?

[sdrealtor]

And there is a decent chance a comp will close in your complex as much as 10% higher than you paid a few months ago. No its just all in our minds. Nothing to see here…

[an]

[quote=AN][quote=sdrealtor][quote=AN]Talking about jobs in MM, looks like good time is here again: http://www.utsandiego.com/news/2012/jun/11/shire-add-several-hundred-biotech-jobs/?sciquest

Here’s another one, a block away: http://www.sdlookup.com/MLS-120028338-7815_Dancy_Rd_San_Diego_CA_92126. Went pending after a few days with multiple offers. Take a look at the interior. That’s straight out of the 80s. Take a look at the asking price too, that’s $50k more than the Feller Cv house. I guess that’s the difference between short sale and equity sale.[/quote]

Its a range price on Dancy from 450 to 500K. My guess would be closer to 450K but we will have to see. Shouldnt be much of a difference on final sales prices.[/quote]
Here’s another one, a few blocks away: http://www.sdlookup.com/MLS-120032791-10119_Parkdale_Ave_San_Diego_CA_92126. Exact same floor plan. Asking $425-450k and went pending after 2 weeks. The interior is also straight out of the 80s. My guess is, the Dancy one will close around $480k, the Feller and Parkdale ones will close around $450k.[/quote]
Dancy one just closed at $483k.

[sdrealtor]

I saw it yesterday and thought of you. I was thinking around 470. Thats why you are the King of MM! It also shows that I still tend to be very conservative on prices. Anyone questioning my calls that things have changed and the market is on fire should take things like this as a data point that the market is even stronger than I give it credit for.

What ever happened to that guy who said MM was a buyers market and things were selling far below asking prices?

[an]

[quote=AN][quote=AN][quote=sdrealtor][quote=AN]Talking about jobs in MM, looks like good time is here again: http://www.utsandiego.com/news/2012/jun/11/shire-add-several-hundred-biotech-jobs/?sciquest

Here’s another one, a block away: http://www.sdlookup.com/MLS-120028338-7815_Dancy_Rd_San_Diego_CA_92126. Went pending after a few days with multiple offers. Take a look at the interior. That’s straight out of the 80s. Take a look at the asking price too, that’s $50k more than the Feller Cv house. I guess that’s the difference between short sale and equity sale.[/quote]

Its a range price on Dancy from 450 to 500K. My guess would be closer to 450K but we will have to see. Shouldnt be much of a difference on final sales prices.[/quote]
Here’s another one, a few blocks away: http://www.sdlookup.com/MLS-120032791-10119_Parkdale_Ave_San_Diego_CA_92126. Exact same floor plan. Asking $425-450k and went pending after 2 weeks. The interior is also straight out of the 80s. My guess is, the Dancy one will close around $480k, the Feller and Parkdale ones will close around $450k.[/quote]
Dancy one just closed at $483k.[/quote]
Feller Cove just closed at $445k.

[Coronita]

Holy shit AN, would you stop posting useless real estate drivel on piggington and post some more relevant topics on piggington these days, like

1)Who should pay their fair share on taxes
2)Obama/Biden versus Romney/Ryan
3)Ryan
4)Pensions

Come one AN, get with the program. Heavens forbid people might actually find your info useful….

[an]

[quote=flu]Holy shit AN, would you stop posting useless real estate drivel on piggington and post some more relevant topics on piggington these days, like

1)Who should pay their fair share on taxes
2)Obama/Biden versus Romney/Ryan
3)Ryan
4)Pensions

Come one AN, get with the program. Heavens forbid people might actually find your info useful….[/quote]Screw the program, I’ll only post about RE from now on. With those 3 properties, 2 down, 1 to go. I was low by $3k on the first one and high by $5k on the second one. The 3rd one should close soon. We’ll see how close I’ll be there.

The condo inventory stick suck really bad in MM. We never saw the spring inventory bounce nor did we see the summer inventory bounce. Will we see inventory decline in the Fall and Winter? I feel sorry for buyers right now. Even SFR supply is horrible, though not as bad as condo supply.

[Author]

Posts