Mira Mesa prices

[sdrealtor]

Just to clarify what is going on in MM right now. I am helping a colleague sell a lower end SFR property there. It’s a short sale (aren’t they all down there?) and he asked me to help him with it so I have seen all the offers. The property generated at least 20 offers in a week. He stopped accepting offers as the sellers were tired of having 10 showings a day. Most of the offers were Asian buyers for primary residences (not investors unless they are lying which I wouldnt know) and most had very significant (i.e. most had no problem coming up with $50,000, $100,000 and even $150,000). There seem to be an endless supply of these buyers for properties under $350,000.

Based upon what I saw with my own eyes, I have a hard time believing prices have much room to fall there. Most of the loans were about $200,000 or less so even rising interest rates wont drive the payments too high on these relatively low loan amounts.

[feraina]

[quote=sdrealtor]Most of the offers were Asian buyers for primary residences (not investors unless they are lying which I wouldnt know) and most had very significant (i.e. most had no problem coming up with $50,000, $100,000 and even $150,000). There seem to be an endless supply of these buyers for properties under $350,000.

Based upon what I saw with my own eyes, I have a hard time believing prices have much room to fall there. Most of the loans were about $200,000 or less so even rising interest rates wont drive the payments too high on these relatively low loan amounts.[/quote]

Are these Asian buyers mainly engineers and scientists? How will they be affected by a general rise in unemployment?

[feraina]

[quote=sdrealtor]Most of the offers were Asian buyers for primary residences (not investors unless they are lying which I wouldnt know) and most had very significant (i.e. most had no problem coming up with $50,000, $100,000 and even $150,000). There seem to be an endless supply of these buyers for properties under $350,000.

Based upon what I saw with my own eyes, I have a hard time believing prices have much room to fall there. Most of the loans were about $200,000 or less so even rising interest rates wont drive the payments too high on these relatively low loan amounts.[/quote]

Are these Asian buyers mainly engineers and scientists? How will they be affected by a general rise in unemployment?

[feraina]

[quote=sdrealtor]Most of the offers were Asian buyers for primary residences (not investors unless they are lying which I wouldnt know) and most had very significant (i.e. most had no problem coming up with $50,000, $100,000 and even $150,000). There seem to be an endless supply of these buyers for properties under $350,000.

Based upon what I saw with my own eyes, I have a hard time believing prices have much room to fall there. Most of the loans were about $200,000 or less so even rising interest rates wont drive the payments too high on these relatively low loan amounts.[/quote]

Are these Asian buyers mainly engineers and scientists? How will they be affected by a general rise in unemployment?

[feraina]

[quote=sdrealtor]Most of the offers were Asian buyers for primary residences (not investors unless they are lying which I wouldnt know) and most had very significant (i.e. most had no problem coming up with $50,000, $100,000 and even $150,000). There seem to be an endless supply of these buyers for properties under $350,000.

Based upon what I saw with my own eyes, I have a hard time believing prices have much room to fall there. Most of the loans were about $200,000 or less so even rising interest rates wont drive the payments too high on these relatively low loan amounts.[/quote]

Are these Asian buyers mainly engineers and scientists? How will they be affected by a general rise in unemployment?

[feraina]

[quote=sdrealtor]Most of the offers were Asian buyers for primary residences (not investors unless they are lying which I wouldnt know) and most had very significant (i.e. most had no problem coming up with $50,000, $100,000 and even $150,000). There seem to be an endless supply of these buyers for properties under $350,000.

Based upon what I saw with my own eyes, I have a hard time believing prices have much room to fall there. Most of the loans were about $200,000 or less so even rising interest rates wont drive the payments too high on these relatively low loan amounts.[/quote]

Are these Asian buyers mainly engineers and scientists? How will they be affected by a general rise in unemployment?

[nostradamus]

Asian covers a large population… Turks or Russians or Iranians or Indians or Laotians, Japanese, etc. sdrealtor where are these Asians coming from?

[nostradamus]

Asian covers a large population… Turks or Russians or Iranians or Indians or Laotians, Japanese, etc. sdrealtor where are these Asians coming from?

[nostradamus]

Asian covers a large population… Turks or Russians or Iranians or Indians or Laotians, Japanese, etc. sdrealtor where are these Asians coming from?

[nostradamus]

Asian covers a large population… Turks or Russians or Iranians or Indians or Laotians, Japanese, etc. sdrealtor where are these Asians coming from?

[nostradamus]

Asian covers a large population… Turks or Russians or Iranians or Indians or Laotians, Japanese, etc. sdrealtor where are these Asians coming from?

[nostradamus]

RE: Train crossing in Sorrento Valley

There are two ways to avoid it.

1. Take the 805. It has a Sorrento Valley Rd. exit (dumps you onto SV pkwy).

2. Pass the 5’s Sorrento Valley Road exit and take the 56 to Carmel Mtn. Then turn right on Vista Sorrento, this will take you back to Calle Cristobal. No train crossing. 5 minutes extra drive time.

On a bicycle you’re SOL I think. Must take the 5.

[nostradamus]

RE: Train crossing in Sorrento Valley

There are two ways to avoid it.

1. Take the 805. It has a Sorrento Valley Rd. exit (dumps you onto SV pkwy).

2. Pass the 5’s Sorrento Valley Road exit and take the 56 to Carmel Mtn. Then turn right on Vista Sorrento, this will take you back to Calle Cristobal. No train crossing. 5 minutes extra drive time.

On a bicycle you’re SOL I think. Must take the 5.

[nostradamus]

RE: Train crossing in Sorrento Valley

There are two ways to avoid it.

1. Take the 805. It has a Sorrento Valley Rd. exit (dumps you onto SV pkwy).

2. Pass the 5’s Sorrento Valley Road exit and take the 56 to Carmel Mtn. Then turn right on Vista Sorrento, this will take you back to Calle Cristobal. No train crossing. 5 minutes extra drive time.

On a bicycle you’re SOL I think. Must take the 5.

[nostradamus]

RE: Train crossing in Sorrento Valley

There are two ways to avoid it.

1. Take the 805. It has a Sorrento Valley Rd. exit (dumps you onto SV pkwy).

2. Pass the 5’s Sorrento Valley Road exit and take the 56 to Carmel Mtn. Then turn right on Vista Sorrento, this will take you back to Calle Cristobal. No train crossing. 5 minutes extra drive time.

On a bicycle you’re SOL I think. Must take the 5.

[Author]

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