Mira Mesa on fire-prices have started increasing

[sdrealtor]

Just listed something up my way for about $1M. Virtually zero competition for it in a popular category which typically has lots of inventory. This is going to be interesting

[Coronita]

[quote=AN][quote=bearishgurl][quote=sdrealtor]9 offers and counting on this one. BTW, the photos are more surgically enhanced than the house.

http://www.redfin.com/CA/San-Diego/10504-Feller-Cv-92126/home/4587879

….[/quote]

Another wonderful candidate for being built with polybutylene plumbing :=0

“Caveat emptor” on this one.[/quote]
I can say for certain that you’re 100% wrong on this one. The houses in this part of Mira Mesa have 100% copper piping. So, please, don’t add “caveat emptor” when it doesn’t apply…[/quote]

I don’t understand the big deal about piping. So even if pipe sucks. We’re looking at $5-8k to have the home repiped, right? What’s the big deal with that? It’s like putting in new berber carpets or something like that..

[Coronita]

delete

[an]

[quote=flu]
I don’t understand the big deal about piping. So even if pipe sucks. We’re looking at $5-8k to have the home repiped, right? What’s the big deal with that? It’s like putting in new berber carpets or something like that..[/quote]
I don’t understand it either. I’ve seen an add for as cheap as $3-5k for a complete repipe. That’s cheaper than some carpet.

[sdrealtor]

Exactly and at least around me more than half of them have already been repiped. I guess thats the difference between NC and Central SD as compared to the other CV.

[SD Realtor]

The cost for the drywall repair and painting almost outweighs the actual replacement of the polybut. It all depends on the distances, etc…

[SD Realtor]

Well you know in some of those far flung areas that need to bring in the pipes by helicopter or paddleboats.

[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]
The Feller cv house also have a range too. $415-450k. Would be interesting to see where both closes at. I always assume it closes at the top of the range when it goes pending in less than 30 days with multiple offers.

[Wah-Wah]

[quote=sdrealtor]9 offers and counting on this one. BTW, the photos are more surgically enhanced than the house.

http://www.redfin.com/CA/San-Diego/10504-Feller-Cv-92126/home/4587879

Just checked last 30 days of closings. There were 34 houses with at least 3BR/2BA.

19 closed either above asking, at asking or within asking range.

10 closed within 10K of asking.[/quote]

How to lose $125k in 5 years? Just ask the owner, who paid $575 in 07.

ouch…

[sdrealtor]

Feller turned down $445k from my client. They didnt lose anything. They financed 100% in a single loan which means short sale should go qicker and easier. They were in default for over 2 years which means close to 3 years of free rent. No tears to shed here

[Coronita]

[quote=Wah-Wah][quote=sdrealtor]9 offers and counting on this one. BTW, the photos are more surgically enhanced than the house.

http://www.redfin.com/CA/San-Diego/10504-Feller-Cv-92126/home/4587879

Just checked last 30 days of closings. There were 34 houses with at least 3BR/2BA.

19 closed either above asking, at asking or within asking range.

10 closed within 10K of asking.[/quote]

How to lose $125k in 5 years? Just ask the owner, who paid $575 in 07.

ouch…[/quote]

I know folks that lost a lot more over the past 5 years in assorted other investments. At least these folks got free rent out of it..

[Coronita]

Me thinks copper pipes have their own issues….Like pinhole leaks after they age…Just ask my parents…

[an]

[quote=sdrealtor]Feller turned down $445k from my client. They didnt lose anything. They financed 100% in a single loan which means short sale should go qicker and easier. They were in default for over 2 years which means close to 3 years of free rent. No tears to shed here[/quote]
That’s close to $90k saved by not paying rent for 3 years.

[SD Realtor]

I had one of those pinhole leaks you speak of!

[Wah-Wah]

I got my morning chuckle out of this mls description:

“Blink twice and you’ll miss this great opportunity to own a DETACHED townhome near Park. Nowhere else in Mira Mesa can you find townhomes built as recently as 1998 with 3BR/2.5BA/2-car attached garage & patio. When real estate prices are going up, the “comps” for past sold homes will always be lower. [Conversely, when prices are trending down, the past sold homes are always higher. ] Seller caught a falling knife in 2005. Now is your opportunity to ride the tide of recovery–buy LOW at low interest rates!See attachment on 3BR/2BA homes (all types) on GOLD COAST DRIVE only that sold since 2000 until May of 2012. Please note the rising price trend. Buyer and buyer’s agent should verify all information and measurement before close of escrow.”

Listing Provided Courtesy of: Elena Yu, Weichert, Realtors Elite, DRE #01743351
http://www.redfin.com/CA/San-Diego/8335-Gold-Coast-Dr-92126/unit-6/home/4861321

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