Mira Mesa prices

[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?

[David J]

[quote=ibjames]
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?[/quote]

I agree with you on the amount of income one should have in order to support a $255,000 mortgage (w/ 70k down as you suggest). However, I want to point out that banks and the government, even today, are willing to lend far more than that on a 100k income.

For example, I believe CalVets will lend a family with 100k income and no debt around $450,000 with 0 down.

[David J]

[quote=ibjames]
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?[/quote]

I agree with you on the amount of income one should have in order to support a $255,000 mortgage (w/ 70k down as you suggest). However, I want to point out that banks and the government, even today, are willing to lend far more than that on a 100k income.

For example, I believe CalVets will lend a family with 100k income and no debt around $450,000 with 0 down.

[David J]

[quote=ibjames]
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?[/quote]

I agree with you on the amount of income one should have in order to support a $255,000 mortgage (w/ 70k down as you suggest). However, I want to point out that banks and the government, even today, are willing to lend far more than that on a 100k income.

For example, I believe CalVets will lend a family with 100k income and no debt around $450,000 with 0 down.

[David J]

[quote=ibjames]
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?[/quote]

I agree with you on the amount of income one should have in order to support a $255,000 mortgage (w/ 70k down as you suggest). However, I want to point out that banks and the government, even today, are willing to lend far more than that on a 100k income.

For example, I believe CalVets will lend a family with 100k income and no debt around $450,000 with 0 down.

[David J]

[quote=ibjames]
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?[/quote]

I agree with you on the amount of income one should have in order to support a $255,000 mortgage (w/ 70k down as you suggest). However, I want to point out that banks and the government, even today, are willing to lend far more than that on a 100k income.

For example, I believe CalVets will lend a family with 100k income and no debt around $450,000 with 0 down.

[ibjames]

[quote=David J][quote=ibjames]
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?[/quote]

I agree with you on the amount of income one should have in order to support a $255,000 mortgage (w/ 70k down as you suggest). However, I want to point out that banks and the government, even today, are willing to lend far more than that on a 100k income.

For example, I believe CalVets will lend a family with 100k income and no debt around $450,000 with 0 down.[/quote]

what are people thinking when they do that to themselves?

[ibjames]

[quote=David J][quote=ibjames]
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?[/quote]

I agree with you on the amount of income one should have in order to support a $255,000 mortgage (w/ 70k down as you suggest). However, I want to point out that banks and the government, even today, are willing to lend far more than that on a 100k income.

For example, I believe CalVets will lend a family with 100k income and no debt around $450,000 with 0 down.[/quote]

what are people thinking when they do that to themselves?

[ibjames]

[quote=David J][quote=ibjames]
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?[/quote]

I agree with you on the amount of income one should have in order to support a $255,000 mortgage (w/ 70k down as you suggest). However, I want to point out that banks and the government, even today, are willing to lend far more than that on a 100k income.

For example, I believe CalVets will lend a family with 100k income and no debt around $450,000 with 0 down.[/quote]

what are people thinking when they do that to themselves?

[ibjames]

[quote=David J][quote=ibjames]
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?[/quote]

I agree with you on the amount of income one should have in order to support a $255,000 mortgage (w/ 70k down as you suggest). However, I want to point out that banks and the government, even today, are willing to lend far more than that on a 100k income.

For example, I believe CalVets will lend a family with 100k income and no debt around $450,000 with 0 down.[/quote]

what are people thinking when they do that to themselves?

[ibjames]

[quote=David J][quote=ibjames]
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?[/quote]

I agree with you on the amount of income one should have in order to support a $255,000 mortgage (w/ 70k down as you suggest). However, I want to point out that banks and the government, even today, are willing to lend far more than that on a 100k income.

For example, I believe CalVets will lend a family with 100k income and no debt around $450,000 with 0 down.[/quote]

what are people thinking when they do that to themselves?

[sdrealtor]

FYI, those MM homes are already down 30 to 40% from the peak.

[sdrealtor]

FYI, those MM homes are already down 30 to 40% from the peak.

[sdrealtor]

FYI, those MM homes are already down 30 to 40% from the peak.

[sdrealtor]

FYI, those MM homes are already down 30 to 40% from the peak.

[Author]

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