Mira Mesa prices

[DWCAP]

I think it is interesting that whenever the subject of “who” is buying houses right now comes up in a thread, it invariably starts with “asian” buyers. I noticed it in a thread about 4s, and another about CV, and now MM. Perhaps it is more perception than reality. I have no idea how to test that, it just seems interesting to a population watcher like me.

I have 3 female “asian” (1 chinese, 1 korean, 1 phillipina) coworkers who meet the “first time buyer” profile. Each is getting or has succomed to massive amounts of pressure from parents to buy a house, and each has talked about how their parents are helping. Each also has a good income, but prolific spending and I know for a fact (ie they told me) that they have no real savings to speak of, outside of their 401k.

Also, people may be walking around with dad because they are looking for alittle wisdom with a purchase they have never made before. Not because he is giving them the money.

[feraina]

[quote=DWCAP]Also, people may be walking around with dad because they are looking for alittle wisdom with a purchase they have never made before. Not because he is giving them the money. [/quote]

Also, Asians tend to have close-knit family structure, and many have aging (and relatively poor) retired parents living with them.

[feraina]

[quote=DWCAP]Also, people may be walking around with dad because they are looking for alittle wisdom with a purchase they have never made before. Not because he is giving them the money. [/quote]

Also, Asians tend to have close-knit family structure, and many have aging (and relatively poor) retired parents living with them.

[feraina]

[quote=DWCAP]Also, people may be walking around with dad because they are looking for alittle wisdom with a purchase they have never made before. Not because he is giving them the money. [/quote]

Also, Asians tend to have close-knit family structure, and many have aging (and relatively poor) retired parents living with them.

[feraina]

[quote=DWCAP]Also, people may be walking around with dad because they are looking for alittle wisdom with a purchase they have never made before. Not because he is giving them the money. [/quote]

Also, Asians tend to have close-knit family structure, and many have aging (and relatively poor) retired parents living with them.

[feraina]

[quote=DWCAP]Also, people may be walking around with dad because they are looking for alittle wisdom with a purchase they have never made before. Not because he is giving them the money. [/quote]

Also, Asians tend to have close-knit family structure, and many have aging (and relatively poor) retired parents living with them.

[noone]

[quote=sdrealtor]There seem to be an endless supply of these buyers for properties under $350,000.[/quote]
Yes $300k-$350k seems to be the magic zone today. I have no doubt that there are tons of offers on some properties. Looking at the closed listings on SDLookup shows that 1/2 of recent closings sold for more than the asking price. However wasn’t the same thing happening for homes under $450k or even $500k just a few short years ago?

Looking at the current 3/2 listings nearly 1/2 have been on the market for 90 days or more, and about 1/3 are 120 days or more.

Based on everything I’m seeing I just can’t believe that Mira Mesa is so special that properties there will only lose 25% from peak. Yes, prices are “sticky on the way down,” but that doesn’t mean they aren’t still falling.

[noone]

[quote=sdrealtor]There seem to be an endless supply of these buyers for properties under $350,000.[/quote]
Yes $300k-$350k seems to be the magic zone today. I have no doubt that there are tons of offers on some properties. Looking at the closed listings on SDLookup shows that 1/2 of recent closings sold for more than the asking price. However wasn’t the same thing happening for homes under $450k or even $500k just a few short years ago?

Looking at the current 3/2 listings nearly 1/2 have been on the market for 90 days or more, and about 1/3 are 120 days or more.

Based on everything I’m seeing I just can’t believe that Mira Mesa is so special that properties there will only lose 25% from peak. Yes, prices are “sticky on the way down,” but that doesn’t mean they aren’t still falling.

[noone]

[quote=sdrealtor]There seem to be an endless supply of these buyers for properties under $350,000.[/quote]
Yes $300k-$350k seems to be the magic zone today. I have no doubt that there are tons of offers on some properties. Looking at the closed listings on SDLookup shows that 1/2 of recent closings sold for more than the asking price. However wasn’t the same thing happening for homes under $450k or even $500k just a few short years ago?

Looking at the current 3/2 listings nearly 1/2 have been on the market for 90 days or more, and about 1/3 are 120 days or more.

Based on everything I’m seeing I just can’t believe that Mira Mesa is so special that properties there will only lose 25% from peak. Yes, prices are “sticky on the way down,” but that doesn’t mean they aren’t still falling.

[noone]

[quote=sdrealtor]There seem to be an endless supply of these buyers for properties under $350,000.[/quote]
Yes $300k-$350k seems to be the magic zone today. I have no doubt that there are tons of offers on some properties. Looking at the closed listings on SDLookup shows that 1/2 of recent closings sold for more than the asking price. However wasn’t the same thing happening for homes under $450k or even $500k just a few short years ago?

Looking at the current 3/2 listings nearly 1/2 have been on the market for 90 days or more, and about 1/3 are 120 days or more.

Based on everything I’m seeing I just can’t believe that Mira Mesa is so special that properties there will only lose 25% from peak. Yes, prices are “sticky on the way down,” but that doesn’t mean they aren’t still falling.

[noone]

[quote=sdrealtor]There seem to be an endless supply of these buyers for properties under $350,000.[/quote]
Yes $300k-$350k seems to be the magic zone today. I have no doubt that there are tons of offers on some properties. Looking at the closed listings on SDLookup shows that 1/2 of recent closings sold for more than the asking price. However wasn’t the same thing happening for homes under $450k or even $500k just a few short years ago?

Looking at the current 3/2 listings nearly 1/2 have been on the market for 90 days or more, and about 1/3 are 120 days or more.

Based on everything I’m seeing I just can’t believe that Mira Mesa is so special that properties there will only lose 25% from peak. Yes, prices are “sticky on the way down,” but that doesn’t mean they aren’t still falling.

[gn]

I agree with noone.

When the prices for those homes in MM were $375k – $425k, there were many people who thought “it’s a bargain” & jumped in.

So, again, at $300k – $350k, “it’s a bargain”.

Asians or not, they are a bunch of knife catchers.

[gn]

I agree with noone.

When the prices for those homes in MM were $375k – $425k, there were many people who thought “it’s a bargain” & jumped in.

So, again, at $300k – $350k, “it’s a bargain”.

Asians or not, they are a bunch of knife catchers.

[gn]

I agree with noone.

When the prices for those homes in MM were $375k – $425k, there were many people who thought “it’s a bargain” & jumped in.

So, again, at $300k – $350k, “it’s a bargain”.

Asians or not, they are a bunch of knife catchers.

[gn]

I agree with noone.

When the prices for those homes in MM were $375k – $425k, there were many people who thought “it’s a bargain” & jumped in.

So, again, at $300k – $350k, “it’s a bargain”.

Asians or not, they are a bunch of knife catchers.

[Author]

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