Opinion requested on 92104 South Park Area – please

[pemeliza]

Given the fact that you are discussing prices in 1991 which was the end of the last bubble, I would say that the fact that Carmel Valley was affordable back then was because it was considered an outlying area of San Diego and obviously had lots of open land available for building. Back in 1991 Qualcomm was a startup and had well under 1000 employees as well so obviously the demand for areas near Sorrento Valley was insignificant compared to what it is now.

Your example illustrates nothing more than the basic concept of supply and demand. The demand for that area has obviously increased exponentially over the last 20 years and you see the result in the prices.

By contrast some areas like Mt. Helix that were actually very popular in the 1980’s are actually just about the same price now as they were then so you could say on a relative basis demand in that area has been flat if not actually shrinking over the last 20 years.

The demand in San Diego County has clearly shifted into North County and I expect that the big reason for that is newness of the housing stock, superior schools, and closer proximity to the major new employment areas.

[sdcellar]

jpinpb– Exactly. You won’t hear me suggest San Diego hasn’t been expensive relative to rest of the country for at least as long as I’ve lived here (1978), but that wasn’t my point.

I was talking about this area relative to itself. Hell, this property relative to itself. It was $237 sq/ft. in 2000. By 2004 (a supposedly frothy time in the market, so I’ve been told), it was $502. And if it sells for what everybody seems to think FMV is, it’ll be $558.

[sdcellar]

jpinpb– Exactly. You won’t hear me suggest San Diego hasn’t been expensive relative to rest of the country for at least as long as I’ve lived here (1978), but that wasn’t my point.

I was talking about this area relative to itself. Hell, this property relative to itself. It was $237 sq/ft. in 2000. By 2004 (a supposedly frothy time in the market, so I’ve been told), it was $502. And if it sells for what everybody seems to think FMV is, it’ll be $558.

[sdcellar]

jpinpb– Exactly. You won’t hear me suggest San Diego hasn’t been expensive relative to rest of the country for at least as long as I’ve lived here (1978), but that wasn’t my point.

I was talking about this area relative to itself. Hell, this property relative to itself. It was $237 sq/ft. in 2000. By 2004 (a supposedly frothy time in the market, so I’ve been told), it was $502. And if it sells for what everybody seems to think FMV is, it’ll be $558.

[sdcellar]

jpinpb– Exactly. You won’t hear me suggest San Diego hasn’t been expensive relative to rest of the country for at least as long as I’ve lived here (1978), but that wasn’t my point.

I was talking about this area relative to itself. Hell, this property relative to itself. It was $237 sq/ft. in 2000. By 2004 (a supposedly frothy time in the market, so I’ve been told), it was $502. And if it sells for what everybody seems to think FMV is, it’ll be $558.

[sdcellar]

jpinpb– Exactly. You won’t hear me suggest San Diego hasn’t been expensive relative to rest of the country for at least as long as I’ve lived here (1978), but that wasn’t my point.

I was talking about this area relative to itself. Hell, this property relative to itself. It was $237 sq/ft. in 2000. By 2004 (a supposedly frothy time in the market, so I’ve been told), it was $502. And if it sells for what everybody seems to think FMV is, it’ll be $558.

[urbanrealtor]

[quote=sdcellar]jpinpb– Exactly. You won’t hear me suggest San Diego hasn’t been expensive relative to rest of the country for at least as long as I’ve lived here (1978), but that wasn’t my point.

I was talking about this area relative to itself. Hell, this property relative to itself. It was $237 sq/ft. in 2000. By 2004 (a supposedly frothy time in the market, so I’ve been told), it was $502. And if it sells for what everybody seems to think FMV is, it’ll be $558.[/quote]

That’s right.
I sold one a few blocks from their in 2007.
It has gain significantly since then.
Supply and demand vary significantly by neighborhood.
A cute, turn-key cottage off Juniper is not common and huge amount of people want them.

The 500/sf range is relatively normal for that type of product.

At a broader level, I really see this as a national trend of cities becoming safer, more affluent, and more en vogue as time goes on.

15 years ago, Hillcrest was the only urban neighborhood widely seen as middle-class and safe in San Diego.

Now I have schoolteachers trying to buy in Sherman Heights.

[urbanrealtor]

[quote=sdcellar]jpinpb– Exactly. You won’t hear me suggest San Diego hasn’t been expensive relative to rest of the country for at least as long as I’ve lived here (1978), but that wasn’t my point.

I was talking about this area relative to itself. Hell, this property relative to itself. It was $237 sq/ft. in 2000. By 2004 (a supposedly frothy time in the market, so I’ve been told), it was $502. And if it sells for what everybody seems to think FMV is, it’ll be $558.[/quote]

That’s right.
I sold one a few blocks from their in 2007.
It has gain significantly since then.
Supply and demand vary significantly by neighborhood.
A cute, turn-key cottage off Juniper is not common and huge amount of people want them.

The 500/sf range is relatively normal for that type of product.

At a broader level, I really see this as a national trend of cities becoming safer, more affluent, and more en vogue as time goes on.

15 years ago, Hillcrest was the only urban neighborhood widely seen as middle-class and safe in San Diego.

Now I have schoolteachers trying to buy in Sherman Heights.

[urbanrealtor]

[quote=sdcellar]jpinpb– Exactly. You won’t hear me suggest San Diego hasn’t been expensive relative to rest of the country for at least as long as I’ve lived here (1978), but that wasn’t my point.

I was talking about this area relative to itself. Hell, this property relative to itself. It was $237 sq/ft. in 2000. By 2004 (a supposedly frothy time in the market, so I’ve been told), it was $502. And if it sells for what everybody seems to think FMV is, it’ll be $558.[/quote]

That’s right.
I sold one a few blocks from their in 2007.
It has gain significantly since then.
Supply and demand vary significantly by neighborhood.
A cute, turn-key cottage off Juniper is not common and huge amount of people want them.

The 500/sf range is relatively normal for that type of product.

At a broader level, I really see this as a national trend of cities becoming safer, more affluent, and more en vogue as time goes on.

15 years ago, Hillcrest was the only urban neighborhood widely seen as middle-class and safe in San Diego.

Now I have schoolteachers trying to buy in Sherman Heights.

[urbanrealtor]

[quote=sdcellar]jpinpb– Exactly. You won’t hear me suggest San Diego hasn’t been expensive relative to rest of the country for at least as long as I’ve lived here (1978), but that wasn’t my point.

I was talking about this area relative to itself. Hell, this property relative to itself. It was $237 sq/ft. in 2000. By 2004 (a supposedly frothy time in the market, so I’ve been told), it was $502. And if it sells for what everybody seems to think FMV is, it’ll be $558.[/quote]

That’s right.
I sold one a few blocks from their in 2007.
It has gain significantly since then.
Supply and demand vary significantly by neighborhood.
A cute, turn-key cottage off Juniper is not common and huge amount of people want them.

The 500/sf range is relatively normal for that type of product.

At a broader level, I really see this as a national trend of cities becoming safer, more affluent, and more en vogue as time goes on.

15 years ago, Hillcrest was the only urban neighborhood widely seen as middle-class and safe in San Diego.

Now I have schoolteachers trying to buy in Sherman Heights.

[urbanrealtor]

[quote=sdcellar]jpinpb– Exactly. You won’t hear me suggest San Diego hasn’t been expensive relative to rest of the country for at least as long as I’ve lived here (1978), but that wasn’t my point.

I was talking about this area relative to itself. Hell, this property relative to itself. It was $237 sq/ft. in 2000. By 2004 (a supposedly frothy time in the market, so I’ve been told), it was $502. And if it sells for what everybody seems to think FMV is, it’ll be $558.[/quote]

That’s right.
I sold one a few blocks from their in 2007.
It has gain significantly since then.
Supply and demand vary significantly by neighborhood.
A cute, turn-key cottage off Juniper is not common and huge amount of people want them.

The 500/sf range is relatively normal for that type of product.

At a broader level, I really see this as a national trend of cities becoming safer, more affluent, and more en vogue as time goes on.

15 years ago, Hillcrest was the only urban neighborhood widely seen as middle-class and safe in San Diego.

Now I have schoolteachers trying to buy in Sherman Heights.

[sdcellar]

Sorry, but I don’t think it’s gotten *that* much nicer in the last 10 years. Cheap money is the significant driver.

[sdcellar]

Sorry, but I don’t think it’s gotten *that* much nicer in the last 10 years. Cheap money is the significant driver.

[sdcellar]

Sorry, but I don’t think it’s gotten *that* much nicer in the last 10 years. Cheap money is the significant driver.

[sdcellar]

Sorry, but I don’t think it’s gotten *that* much nicer in the last 10 years. Cheap money is the significant driver.

[Author]

Posts