Mission Hills: Low End Trends

[bearishgurl]

[quote=pemeliza]BG, from what I could tell on google drive-by maps there is a one car garage behind the house coming off of Sutter. The lot size on the new listing is 4560 sf which is about the same as the others.

The bottom line IMHO is that if this house sells for 465k, then the market for low end properties in Mission Hills has moved down rather sharply since February (perhaps 10% or more). If it sits on the market at 465k then we have very clear evidence that the market has weakened substantially even at the low end of the price spectrum.[/quote]

That is good to know that perhaps that garage might be able to be enlarged.

Pem, if your property is located north of Washington St, I don’t see how these little bunglalows south of University will affect your niche market. I realize they might be considered to be in “Mission Hills” but I would almost consider them to be located in Hillcrest. I see the “official” Mission Hills (north of Wash and west of Goldfinch) as a different market entirely than where these small bungalows are located. It’s not as exclusive or quiet so of course they would not sell for as much.

[pemeliza]

BG, I agree with what you said about boundaries and that in particular North Mission Hills is different than the area these houses are located. I am not worried about the value of our house because we bought it for retirement … perhaps my kids will one day care about the value after I am gone 🙂

I keep up with the market around 92103 (although I am certainly no expert) and thought I would share my findings for those interested in how things at the low end of the price spectrum are going. We tend to talk about the high end a lot on this blog.

[pemeliza]

BG, I agree with what you said about boundaries and that in particular North Mission Hills is different than the area these houses are located. I am not worried about the value of our house because we bought it for retirement … perhaps my kids will one day care about the value after I am gone 🙂

I keep up with the market around 92103 (although I am certainly no expert) and thought I would share my findings for those interested in how things at the low end of the price spectrum are going. We tend to talk about the high end a lot on this blog.

[pemeliza]

BG, I agree with what you said about boundaries and that in particular North Mission Hills is different than the area these houses are located. I am not worried about the value of our house because we bought it for retirement … perhaps my kids will one day care about the value after I am gone 🙂

I keep up with the market around 92103 (although I am certainly no expert) and thought I would share my findings for those interested in how things at the low end of the price spectrum are going. We tend to talk about the high end a lot on this blog.

[pemeliza]

BG, I agree with what you said about boundaries and that in particular North Mission Hills is different than the area these houses are located. I am not worried about the value of our house because we bought it for retirement … perhaps my kids will one day care about the value after I am gone 🙂

I keep up with the market around 92103 (although I am certainly no expert) and thought I would share my findings for those interested in how things at the low end of the price spectrum are going. We tend to talk about the high end a lot on this blog.

[pemeliza]

BG, I agree with what you said about boundaries and that in particular North Mission Hills is different than the area these houses are located. I am not worried about the value of our house because we bought it for retirement … perhaps my kids will one day care about the value after I am gone 🙂

I keep up with the market around 92103 (although I am certainly no expert) and thought I would share my findings for those interested in how things at the low end of the price spectrum are going. We tend to talk about the high end a lot on this blog.

[sdrealtor]

Pem
I agree that if it doesnt sell fairly quickly it could be a bad sign. Outside of the one non-mls comp at 520K (that looks a bit high) what do they look like for that house from earlier in the year?

I just found an REO that looked very nice on 3801 Goldfinch (corner lot on cul de sac street) that sold for 526K in April. It was a 3/1 and had a 1BR guest house rental. It went in and out of escrow but was on the market about 1 month in the heat of the market.

[sdrealtor]

Pem
I agree that if it doesnt sell fairly quickly it could be a bad sign. Outside of the one non-mls comp at 520K (that looks a bit high) what do they look like for that house from earlier in the year?

I just found an REO that looked very nice on 3801 Goldfinch (corner lot on cul de sac street) that sold for 526K in April. It was a 3/1 and had a 1BR guest house rental. It went in and out of escrow but was on the market about 1 month in the heat of the market.

[sdrealtor]

Pem
I agree that if it doesnt sell fairly quickly it could be a bad sign. Outside of the one non-mls comp at 520K (that looks a bit high) what do they look like for that house from earlier in the year?

I just found an REO that looked very nice on 3801 Goldfinch (corner lot on cul de sac street) that sold for 526K in April. It was a 3/1 and had a 1BR guest house rental. It went in and out of escrow but was on the market about 1 month in the heat of the market.

[sdrealtor]

Pem
I agree that if it doesnt sell fairly quickly it could be a bad sign. Outside of the one non-mls comp at 520K (that looks a bit high) what do they look like for that house from earlier in the year?

I just found an REO that looked very nice on 3801 Goldfinch (corner lot on cul de sac street) that sold for 526K in April. It was a 3/1 and had a 1BR guest house rental. It went in and out of escrow but was on the market about 1 month in the heat of the market.

[sdrealtor]

Pem
I agree that if it doesnt sell fairly quickly it could be a bad sign. Outside of the one non-mls comp at 520K (that looks a bit high) what do they look like for that house from earlier in the year?

I just found an REO that looked very nice on 3801 Goldfinch (corner lot on cul de sac street) that sold for 526K in April. It was a 3/1 and had a 1BR guest house rental. It went in and out of escrow but was on the market about 1 month in the heat of the market.

[bearishgurl]

[quote=pemeliza]BG, I agree with what you said about boundaries and that in particular North Mission Hills is different than the area these houses are located. I am not worried about the value of our house because we bought it for retirement … perhaps my kids will one day care about the value after I am gone 🙂

I keep up with the market around 92103 (although I am certainly no expert) and thought I would share my findings for those interested in how things at the low end of the price spectrum are going. We tend to talk about the high end a lot on this blog.[/quote]

Agree about the high-end discussions, Pem. IMO, these houses are the “bread and butter” of central SD. I still think your last (active) link is a gem and will certainly sell and should sell in the ballpark it is listed in. Other comparable central SD locations (ex. North Park, Univ. Heights, Golden Hill) can’t compete with that location and the other centralized communities (north and west of ballpark/East Village) are more expensive or lacking in SFR inventory.

[bearishgurl]

[quote=pemeliza]BG, I agree with what you said about boundaries and that in particular North Mission Hills is different than the area these houses are located. I am not worried about the value of our house because we bought it for retirement … perhaps my kids will one day care about the value after I am gone 🙂

I keep up with the market around 92103 (although I am certainly no expert) and thought I would share my findings for those interested in how things at the low end of the price spectrum are going. We tend to talk about the high end a lot on this blog.[/quote]

Agree about the high-end discussions, Pem. IMO, these houses are the “bread and butter” of central SD. I still think your last (active) link is a gem and will certainly sell and should sell in the ballpark it is listed in. Other comparable central SD locations (ex. North Park, Univ. Heights, Golden Hill) can’t compete with that location and the other centralized communities (north and west of ballpark/East Village) are more expensive or lacking in SFR inventory.

[bearishgurl]

[quote=pemeliza]BG, I agree with what you said about boundaries and that in particular North Mission Hills is different than the area these houses are located. I am not worried about the value of our house because we bought it for retirement … perhaps my kids will one day care about the value after I am gone 🙂

I keep up with the market around 92103 (although I am certainly no expert) and thought I would share my findings for those interested in how things at the low end of the price spectrum are going. We tend to talk about the high end a lot on this blog.[/quote]

Agree about the high-end discussions, Pem. IMO, these houses are the “bread and butter” of central SD. I still think your last (active) link is a gem and will certainly sell and should sell in the ballpark it is listed in. Other comparable central SD locations (ex. North Park, Univ. Heights, Golden Hill) can’t compete with that location and the other centralized communities (north and west of ballpark/East Village) are more expensive or lacking in SFR inventory.

[bearishgurl]

[quote=pemeliza]BG, I agree with what you said about boundaries and that in particular North Mission Hills is different than the area these houses are located. I am not worried about the value of our house because we bought it for retirement … perhaps my kids will one day care about the value after I am gone 🙂

I keep up with the market around 92103 (although I am certainly no expert) and thought I would share my findings for those interested in how things at the low end of the price spectrum are going. We tend to talk about the high end a lot on this blog.[/quote]

Agree about the high-end discussions, Pem. IMO, these houses are the “bread and butter” of central SD. I still think your last (active) link is a gem and will certainly sell and should sell in the ballpark it is listed in. Other comparable central SD locations (ex. North Park, Univ. Heights, Golden Hill) can’t compete with that location and the other centralized communities (north and west of ballpark/East Village) are more expensive or lacking in SFR inventory.

[Author]

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