Mira Mesa prices

[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.

[DWCAP]

[quote=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.[/quote]

It wasnt that long ago that anything priced under 400k was a steal. I still remember the day I logged on and counted 5 properties under 400k and was so excited. “a SFR for 399k! wait…… what was that 2001 price? WTF am I saying again?” (this is what drove me to piggington)

[DWCAP]

[quote=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.[/quote]

It wasnt that long ago that anything priced under 400k was a steal. I still remember the day I logged on and counted 5 properties under 400k and was so excited. “a SFR for 399k! wait…… what was that 2001 price? WTF am I saying again?” (this is what drove me to piggington)

[DWCAP]

[quote=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.[/quote]

It wasnt that long ago that anything priced under 400k was a steal. I still remember the day I logged on and counted 5 properties under 400k and was so excited. “a SFR for 399k! wait…… what was that 2001 price? WTF am I saying again?” (this is what drove me to piggington)

[DWCAP]

[quote=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.[/quote]

It wasnt that long ago that anything priced under 400k was a steal. I still remember the day I logged on and counted 5 properties under 400k and was so excited. “a SFR for 399k! wait…… what was that 2001 price? WTF am I saying again?” (this is what drove me to piggington)

[DWCAP]

[quote=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.[/quote]

It wasnt that long ago that anything priced under 400k was a steal. I still remember the day I logged on and counted 5 properties under 400k and was so excited. “a SFR for 399k! wait…… what was that 2001 price? WTF am I saying again?” (this is what drove me to piggington)

[an]

[quote=noone]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.[/quote]
Where did you get the 25% from? I know many 1100-1400 sq-ft house in MM sold for around 550-575k at the peak. Now, they’re selling for around 325-350k. That’s a loss of ~40% already.

[an]

[quote=noone]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.[/quote]
Where did you get the 25% from? I know many 1100-1400 sq-ft house in MM sold for around 550-575k at the peak. Now, they’re selling for around 325-350k. That’s a loss of ~40% already.

[an]

[quote=noone]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.[/quote]
Where did you get the 25% from? I know many 1100-1400 sq-ft house in MM sold for around 550-575k at the peak. Now, they’re selling for around 325-350k. That’s a loss of ~40% already.

[an]

[quote=noone]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.[/quote]
Where did you get the 25% from? I know many 1100-1400 sq-ft house in MM sold for around 550-575k at the peak. Now, they’re selling for around 325-350k. That’s a loss of ~40% already.

[an]

[quote=noone]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.[/quote]
Where did you get the 25% from? I know many 1100-1400 sq-ft house in MM sold for around 550-575k at the peak. Now, they’re selling for around 325-350k. That’s a loss of ~40% already.

[ibjames]

[quote=asianautica][quote=noone]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.[/quote]
Where did you get the 25% from? I know many 1100-1400 sq-ft house in MM sold for around 550-575k at the peak. Now, they’re selling for around 325-350k. That’s a loss of ~40% already.[/quote]

for a 325k house, what is the typical salary a person has to make to buy that house? 100K? So we are saying that in one of the more affordable areas of SD you have to have 100k combined to scrape into a house? With 70k down?

[ibjames]

[quote=asianautica][quote=noone]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.[/quote]
Where did you get the 25% from? I know many 1100-1400 sq-ft house in MM sold for around 550-575k at the peak. Now, they’re selling for around 325-350k. That’s a loss of ~40% already.[/quote]

for a 325k house, what is the typical salary a person has to make to buy that house? 100K? So we are saying that in one of the more affordable areas of SD you have to have 100k combined to scrape into a house? With 70k down?

[ibjames]

[quote=asianautica][quote=noone]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.[/quote]
Where did you get the 25% from? I know many 1100-1400 sq-ft house in MM sold for around 550-575k at the peak. Now, they’re selling for around 325-350k. That’s a loss of ~40% already.[/quote]

for a 325k house, what is the typical salary a person has to make to buy that house? 100K? So we are saying that in one of the more affordable areas of SD you have to have 100k combined to scrape into a house? With 70k down?

[ibjames]

[quote=asianautica][quote=noone]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.[/quote]
Where did you get the 25% from? I know many 1100-1400 sq-ft house in MM sold for around 550-575k at the peak. Now, they’re selling for around 325-350k. That’s a loss of ~40% already.[/quote]

for a 325k house, what is the typical salary a person has to make to buy that house? 100K? So we are saying that in one of the more affordable areas of SD you have to have 100k combined to scrape into a house? With 70k down?

[Author]

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