North park flips… relatistic prices?

[bearishgurl]

[quote=jpinpb]Yes, BG repeated similar sentiments on the Point Loma thread. I tend to agree w/you pemeliza. I think prices are returning to what they are worth w/out the tricks and manipulations involved.[/quote]

jp, several active and sold listings in Pt Loma that I perused yesterday had not been on the market in more than 50 years. Two or three of them were over 65 years old and NEVER SOLD! I also saw at least a half-dozen well-located “probate sales.” I don’t keep my pulse on this market on a regular basis but I haven’t seen the “pickings” for well-located fixers THIS GOOD since the mid-nineties! 90% of the fixers sold in VERY SHORT ORDER, most likely in all-cash transactions. These buyers obviously understand the concept I am trying to get across here.

I think the inventory in 92106/92107 is very good right now, and may get even better in the coming months.

Once the “fixers” on a particular street you may have been tracking for many, many years all get sold and rehabbed, the party is over for a mid-range homebuyer ($500K to $850K). Those quickly snapped-up (view) properties very often get permitted room addition(s) and as future listings, become too cost prohibitive except to very deep-pocketed buyers.

You only go ’round once in this life and it is always beneficial to be in a position to take advantage of lifetime dreams when they present themselves. Due to many factors, you may never get the chance again.

[pemeliza]

I think I am between SDR and BG. I share BG’s views and tastes on what constitutes a great property here in SD. However, given how many great properties we are seeing selling at great prices I wonder if the market isn’t trying to tell us something. I do think prices around here are still very high relative to rents and perhaps these older homes in great locations but weak school districts are going out of favor as SDR suggests.

[pemeliza]

I think I am between SDR and BG. I share BG’s views and tastes on what constitutes a great property here in SD. However, given how many great properties we are seeing selling at great prices I wonder if the market isn’t trying to tell us something. I do think prices around here are still very high relative to rents and perhaps these older homes in great locations but weak school districts are going out of favor as SDR suggests.

[pemeliza]

I think I am between SDR and BG. I share BG’s views and tastes on what constitutes a great property here in SD. However, given how many great properties we are seeing selling at great prices I wonder if the market isn’t trying to tell us something. I do think prices around here are still very high relative to rents and perhaps these older homes in great locations but weak school districts are going out of favor as SDR suggests.

[pemeliza]

I think I am between SDR and BG. I share BG’s views and tastes on what constitutes a great property here in SD. However, given how many great properties we are seeing selling at great prices I wonder if the market isn’t trying to tell us something. I do think prices around here are still very high relative to rents and perhaps these older homes in great locations but weak school districts are going out of favor as SDR suggests.

[pemeliza]

I think I am between SDR and BG. I share BG’s views and tastes on what constitutes a great property here in SD. However, given how many great properties we are seeing selling at great prices I wonder if the market isn’t trying to tell us something. I do think prices around here are still very high relative to rents and perhaps these older homes in great locations but weak school districts are going out of favor as SDR suggests.

[bearishgurl]

[quote=pemeliza]I think I am between SDR and BG. I share BG’s views and tastes on what constitutes a great property here in SD. However, given how many great properties we are seeing selling at great prices I wonder if the market isn’t trying to tell us something. I do think prices around here are still very high relative to rents and perhaps these older homes in great locations but weak school districts are going out of favor as SDR suggests.[/quote]

pemeliza, I just think that Pt. Loma is “shaking out” from the 2nd’s and HELOC’s taken out in recent years for rehab. I can SEE from the listing photos that most or all of this $$ was probably spent on rehab (in most instances). And a few NINA buyers who were not qualified to buy in the area in the first place are being driven out by exploding mortgages.

SDUSD, in and of itself, is not “weak.” Dana & Correia MS and Pt Loma and High Tech HS are not “weak.” Two to three of the elem schools in OB/Pt Loma (that DON’T serve a transient rental and Navy population) are very good.

It won’t even matter if young families are driven away from this area by their erroneous “perceptions” about the schools. This particular “niche” market is watched by many, many potential buyers from all over the world. These buyers, however, may likely NOT be “nuclear-family buyers.” The “type” of buyer matters not. Everyone’s US dollar is worth the same amount.

[bearishgurl]

[quote=pemeliza]I think I am between SDR and BG. I share BG’s views and tastes on what constitutes a great property here in SD. However, given how many great properties we are seeing selling at great prices I wonder if the market isn’t trying to tell us something. I do think prices around here are still very high relative to rents and perhaps these older homes in great locations but weak school districts are going out of favor as SDR suggests.[/quote]

pemeliza, I just think that Pt. Loma is “shaking out” from the 2nd’s and HELOC’s taken out in recent years for rehab. I can SEE from the listing photos that most or all of this $$ was probably spent on rehab (in most instances). And a few NINA buyers who were not qualified to buy in the area in the first place are being driven out by exploding mortgages.

SDUSD, in and of itself, is not “weak.” Dana & Correia MS and Pt Loma and High Tech HS are not “weak.” Two to three of the elem schools in OB/Pt Loma (that DON’T serve a transient rental and Navy population) are very good.

It won’t even matter if young families are driven away from this area by their erroneous “perceptions” about the schools. This particular “niche” market is watched by many, many potential buyers from all over the world. These buyers, however, may likely NOT be “nuclear-family buyers.” The “type” of buyer matters not. Everyone’s US dollar is worth the same amount.

[bearishgurl]

[quote=pemeliza]I think I am between SDR and BG. I share BG’s views and tastes on what constitutes a great property here in SD. However, given how many great properties we are seeing selling at great prices I wonder if the market isn’t trying to tell us something. I do think prices around here are still very high relative to rents and perhaps these older homes in great locations but weak school districts are going out of favor as SDR suggests.[/quote]

pemeliza, I just think that Pt. Loma is “shaking out” from the 2nd’s and HELOC’s taken out in recent years for rehab. I can SEE from the listing photos that most or all of this $$ was probably spent on rehab (in most instances). And a few NINA buyers who were not qualified to buy in the area in the first place are being driven out by exploding mortgages.

SDUSD, in and of itself, is not “weak.” Dana & Correia MS and Pt Loma and High Tech HS are not “weak.” Two to three of the elem schools in OB/Pt Loma (that DON’T serve a transient rental and Navy population) are very good.

It won’t even matter if young families are driven away from this area by their erroneous “perceptions” about the schools. This particular “niche” market is watched by many, many potential buyers from all over the world. These buyers, however, may likely NOT be “nuclear-family buyers.” The “type” of buyer matters not. Everyone’s US dollar is worth the same amount.

[bearishgurl]

[quote=pemeliza]I think I am between SDR and BG. I share BG’s views and tastes on what constitutes a great property here in SD. However, given how many great properties we are seeing selling at great prices I wonder if the market isn’t trying to tell us something. I do think prices around here are still very high relative to rents and perhaps these older homes in great locations but weak school districts are going out of favor as SDR suggests.[/quote]

pemeliza, I just think that Pt. Loma is “shaking out” from the 2nd’s and HELOC’s taken out in recent years for rehab. I can SEE from the listing photos that most or all of this $$ was probably spent on rehab (in most instances). And a few NINA buyers who were not qualified to buy in the area in the first place are being driven out by exploding mortgages.

SDUSD, in and of itself, is not “weak.” Dana & Correia MS and Pt Loma and High Tech HS are not “weak.” Two to three of the elem schools in OB/Pt Loma (that DON’T serve a transient rental and Navy population) are very good.

It won’t even matter if young families are driven away from this area by their erroneous “perceptions” about the schools. This particular “niche” market is watched by many, many potential buyers from all over the world. These buyers, however, may likely NOT be “nuclear-family buyers.” The “type” of buyer matters not. Everyone’s US dollar is worth the same amount.

[bearishgurl]

[quote=pemeliza]I think I am between SDR and BG. I share BG’s views and tastes on what constitutes a great property here in SD. However, given how many great properties we are seeing selling at great prices I wonder if the market isn’t trying to tell us something. I do think prices around here are still very high relative to rents and perhaps these older homes in great locations but weak school districts are going out of favor as SDR suggests.[/quote]

pemeliza, I just think that Pt. Loma is “shaking out” from the 2nd’s and HELOC’s taken out in recent years for rehab. I can SEE from the listing photos that most or all of this $$ was probably spent on rehab (in most instances). And a few NINA buyers who were not qualified to buy in the area in the first place are being driven out by exploding mortgages.

SDUSD, in and of itself, is not “weak.” Dana & Correia MS and Pt Loma and High Tech HS are not “weak.” Two to three of the elem schools in OB/Pt Loma (that DON’T serve a transient rental and Navy population) are very good.

It won’t even matter if young families are driven away from this area by their erroneous “perceptions” about the schools. This particular “niche” market is watched by many, many potential buyers from all over the world. These buyers, however, may likely NOT be “nuclear-family buyers.” The “type” of buyer matters not. Everyone’s US dollar is worth the same amount.

[pemeliza]

BG, if we stay on the public track we are looking at Grant for K-8 and then onto Point Loma High unless we could get an inter-district transfer to La Jolla High or our kid wins the lottery system and gets into High Tech High. We are very happy that Grant is now K-8. Point Loma High seems fine as well although I am somewhat concerned about the lack of AP Calculus. Our school options are looking pretty good. If I was buying in North Park I would be more concerned.

[pemeliza]

BG, if we stay on the public track we are looking at Grant for K-8 and then onto Point Loma High unless we could get an inter-district transfer to La Jolla High or our kid wins the lottery system and gets into High Tech High. We are very happy that Grant is now K-8. Point Loma High seems fine as well although I am somewhat concerned about the lack of AP Calculus. Our school options are looking pretty good. If I was buying in North Park I would be more concerned.

[pemeliza]

BG, if we stay on the public track we are looking at Grant for K-8 and then onto Point Loma High unless we could get an inter-district transfer to La Jolla High or our kid wins the lottery system and gets into High Tech High. We are very happy that Grant is now K-8. Point Loma High seems fine as well although I am somewhat concerned about the lack of AP Calculus. Our school options are looking pretty good. If I was buying in North Park I would be more concerned.

[pemeliza]

BG, if we stay on the public track we are looking at Grant for K-8 and then onto Point Loma High unless we could get an inter-district transfer to La Jolla High or our kid wins the lottery system and gets into High Tech High. We are very happy that Grant is now K-8. Point Loma High seems fine as well although I am somewhat concerned about the lack of AP Calculus. Our school options are looking pretty good. If I was buying in North Park I would be more concerned.

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