Opinion requested on 92104 South Park Area – please

[sdcellar]

[quote=urbanrealtor][quote=sdcellar]Sorry, but I don’t think it’s gotten *that* much nicer in the last 10 years. Cheap money is the significant driver.[/quote]
No.
There has been a national shift in housing preference.
But that preference does not translate into demand.
The cheap money you reference does.
But the reason people spend $400,000 (which seems like a lot of money to me) on a 2br/1ba place in South Park when they could buy a 4br/2ba house in Santee is preference.

Lots of people who come here really have a jones for urban living.

See, that why I’m *urban* realtor with the condos and the walking….and the stuff…[/quote]That preference is not a new phenomenon either. You would know better than I, but there has been ample interest in urban living (in San Diego) for some time now. I’d say easily for the entire decade of the naughts.

[sdrealtor]

Just to clarify on CAR’s example and the necessity to peel back the layers:

The house was initially unsellable on the last sale and required all cash. There were many issues with it so it sold below market.

The tax records show $350K not the $330K reported in the MLS.

The flipper did a tremendous job fixing, upgrading and adding to it.

It looks like it fell out of escrow initially because of appraisal issues (thus apparaiser does not = crazy).

The eventual buyer had a loan of $387,500 which suggest they had an 80% LTV at an appraised price at $483,750 and came up with the buyer bringing an additional $41,250 of cash to get the deal done.

Thus it looks like the flipper added about $130K of appraisable value by making it financable and adding considerable improvements.

Not making a judgement here but rather clarifying the facts on this one.

[sdrealtor]

Just to clarify on CAR’s example and the necessity to peel back the layers:

The house was initially unsellable on the last sale and required all cash. There were many issues with it so it sold below market.

The tax records show $350K not the $330K reported in the MLS.

The flipper did a tremendous job fixing, upgrading and adding to it.

It looks like it fell out of escrow initially because of appraisal issues (thus apparaiser does not = crazy).

The eventual buyer had a loan of $387,500 which suggest they had an 80% LTV at an appraised price at $483,750 and came up with the buyer bringing an additional $41,250 of cash to get the deal done.

Thus it looks like the flipper added about $130K of appraisable value by making it financable and adding considerable improvements.

Not making a judgement here but rather clarifying the facts on this one.

[sdrealtor]

Just to clarify on CAR’s example and the necessity to peel back the layers:

The house was initially unsellable on the last sale and required all cash. There were many issues with it so it sold below market.

The tax records show $350K not the $330K reported in the MLS.

The flipper did a tremendous job fixing, upgrading and adding to it.

It looks like it fell out of escrow initially because of appraisal issues (thus apparaiser does not = crazy).

The eventual buyer had a loan of $387,500 which suggest they had an 80% LTV at an appraised price at $483,750 and came up with the buyer bringing an additional $41,250 of cash to get the deal done.

Thus it looks like the flipper added about $130K of appraisable value by making it financable and adding considerable improvements.

Not making a judgement here but rather clarifying the facts on this one.

[sdrealtor]

Just to clarify on CAR’s example and the necessity to peel back the layers:

The house was initially unsellable on the last sale and required all cash. There were many issues with it so it sold below market.

The tax records show $350K not the $330K reported in the MLS.

The flipper did a tremendous job fixing, upgrading and adding to it.

It looks like it fell out of escrow initially because of appraisal issues (thus apparaiser does not = crazy).

The eventual buyer had a loan of $387,500 which suggest they had an 80% LTV at an appraised price at $483,750 and came up with the buyer bringing an additional $41,250 of cash to get the deal done.

Thus it looks like the flipper added about $130K of appraisable value by making it financable and adding considerable improvements.

Not making a judgement here but rather clarifying the facts on this one.

[sdrealtor]

Just to clarify on CAR’s example and the necessity to peel back the layers:

The house was initially unsellable on the last sale and required all cash. There were many issues with it so it sold below market.

The tax records show $350K not the $330K reported in the MLS.

The flipper did a tremendous job fixing, upgrading and adding to it.

It looks like it fell out of escrow initially because of appraisal issues (thus apparaiser does not = crazy).

The eventual buyer had a loan of $387,500 which suggest they had an 80% LTV at an appraised price at $483,750 and came up with the buyer bringing an additional $41,250 of cash to get the deal done.

Thus it looks like the flipper added about $130K of appraisable value by making it financable and adding considerable improvements.

Not making a judgement here but rather clarifying the facts on this one.

[pemeliza]

jp, have you looked at this one yet:

http://www.sdlookup.com/MLS-100035651-92117

I don’t know much about the area but it seems similar to the type of stuff you are looking at.

[pemeliza]

jp, have you looked at this one yet:

http://www.sdlookup.com/MLS-100035651-92117

I don’t know much about the area but it seems similar to the type of stuff you are looking at.

[pemeliza]

jp, have you looked at this one yet:

http://www.sdlookup.com/MLS-100035651-92117

I don’t know much about the area but it seems similar to the type of stuff you are looking at.

[pemeliza]

jp, have you looked at this one yet:

http://www.sdlookup.com/MLS-100035651-92117

I don’t know much about the area but it seems similar to the type of stuff you are looking at.

[pemeliza]

jp, have you looked at this one yet:

http://www.sdlookup.com/MLS-100035651-92117

I don’t know much about the area but it seems similar to the type of stuff you are looking at.

[jpinpb]

Thanks, pemeliza. It was on my list to go check out. Does fit many criteria. I’ll have to look at it to see how much of that 12k lot is usable. It might work.

[jpinpb]

Thanks, pemeliza. It was on my list to go check out. Does fit many criteria. I’ll have to look at it to see how much of that 12k lot is usable. It might work.

[jpinpb]

Thanks, pemeliza. It was on my list to go check out. Does fit many criteria. I’ll have to look at it to see how much of that 12k lot is usable. It might work.

[jpinpb]

Thanks, pemeliza. It was on my list to go check out. Does fit many criteria. I’ll have to look at it to see how much of that 12k lot is usable. It might work.

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