NR: Miro Circle, Scripps Ranch, town homes

[Scarlett]

[quote=sunny88]I’m interested in the 3/3 1750 sqft units which sell in the high $400k range. Do you think they are fairly priced?[/quote]

No, I don’t think so. We put an offer spring 2004 on one of those and they were then ~500K. Add on top of it the relatively high MR+HOA combo. We weren’t then at the peak, but we were in full blown bubble still.

I don’t anything of that size in a good area is fairly priced unless it’s early 2003 prices at the most.

[SD Realtor]

I would agree with what Scarlett said. I would be more comfortable with the 1750 sf homes down lower then where they are now. At the 500k price they are horrible investment properties. Most of those that were bought for investments were done so long ago. The majority were owner occupied and bought at a low price and then the owners moved on but kept the unit. I am not sure how low they will go because it is a nice area that has decent demand. I do believe they will move down though.

[SD Realtor]

I would agree with what Scarlett said. I would be more comfortable with the 1750 sf homes down lower then where they are now. At the 500k price they are horrible investment properties. Most of those that were bought for investments were done so long ago. The majority were owner occupied and bought at a low price and then the owners moved on but kept the unit. I am not sure how low they will go because it is a nice area that has decent demand. I do believe they will move down though.

[SD Realtor]

I would agree with what Scarlett said. I would be more comfortable with the 1750 sf homes down lower then where they are now. At the 500k price they are horrible investment properties. Most of those that were bought for investments were done so long ago. The majority were owner occupied and bought at a low price and then the owners moved on but kept the unit. I am not sure how low they will go because it is a nice area that has decent demand. I do believe they will move down though.

[SD Realtor]

I would agree with what Scarlett said. I would be more comfortable with the 1750 sf homes down lower then where they are now. At the 500k price they are horrible investment properties. Most of those that were bought for investments were done so long ago. The majority were owner occupied and bought at a low price and then the owners moved on but kept the unit. I am not sure how low they will go because it is a nice area that has decent demand. I do believe they will move down though.

[SD Realtor]

I would agree with what Scarlett said. I would be more comfortable with the 1750 sf homes down lower then where they are now. At the 500k price they are horrible investment properties. Most of those that were bought for investments were done so long ago. The majority were owner occupied and bought at a low price and then the owners moved on but kept the unit. I am not sure how low they will go because it is a nice area that has decent demand. I do believe they will move down though.

[permabear]

Scripps is a fantastic area (I live here) but the rental/landlord prices don’t pencil in at current levels, pretty much across the board.

There are some properties in Rancho Penasquitos that do.

If you check Craigslist/etc, rentals are pretty much stuck in the $1900-2500/mo range across the board, regardless of whether your place is a 1300 sq ft condo or a 2500 sq ft house. Seriously, it’s weird.

[permabear]

Scripps is a fantastic area (I live here) but the rental/landlord prices don’t pencil in at current levels, pretty much across the board.

There are some properties in Rancho Penasquitos that do.

If you check Craigslist/etc, rentals are pretty much stuck in the $1900-2500/mo range across the board, regardless of whether your place is a 1300 sq ft condo or a 2500 sq ft house. Seriously, it’s weird.

[permabear]

Scripps is a fantastic area (I live here) but the rental/landlord prices don’t pencil in at current levels, pretty much across the board.

There are some properties in Rancho Penasquitos that do.

If you check Craigslist/etc, rentals are pretty much stuck in the $1900-2500/mo range across the board, regardless of whether your place is a 1300 sq ft condo or a 2500 sq ft house. Seriously, it’s weird.

[permabear]

Scripps is a fantastic area (I live here) but the rental/landlord prices don’t pencil in at current levels, pretty much across the board.

There are some properties in Rancho Penasquitos that do.

If you check Craigslist/etc, rentals are pretty much stuck in the $1900-2500/mo range across the board, regardless of whether your place is a 1300 sq ft condo or a 2500 sq ft house. Seriously, it’s weird.

[permabear]

Scripps is a fantastic area (I live here) but the rental/landlord prices don’t pencil in at current levels, pretty much across the board.

There are some properties in Rancho Penasquitos that do.

If you check Craigslist/etc, rentals are pretty much stuck in the $1900-2500/mo range across the board, regardless of whether your place is a 1300 sq ft condo or a 2500 sq ft house. Seriously, it’s weird.

[kcal09]

At the current price levels there is not much buying interest and the question is if the seller is willing to compromise on the price. As far as I’m concerned I’m planning to keep the property for at least 10 years.

[kcal09]

At the current price levels there is not much buying interest and the question is if the seller is willing to compromise on the price. As far as I’m concerned I’m planning to keep the property for at least 10 years.

[kcal09]

At the current price levels there is not much buying interest and the question is if the seller is willing to compromise on the price. As far as I’m concerned I’m planning to keep the property for at least 10 years.

[kcal09]

At the current price levels there is not much buying interest and the question is if the seller is willing to compromise on the price. As far as I’m concerned I’m planning to keep the property for at least 10 years.

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