Pacific Beach market question

[jpinpb]

After reading “The housing bubble is over” thread, I’m more confused than ever and even depressed. I was thinking the bubble popped and the gov. trying to fill it w/air won’t work if there’s a hole. But some of what Diego was saying was making sense. Maybe the guy who bought Emerald was talking to Diego and that’s why it made sense to him.

[cantab]

In the 90s, houses in PB typically rented for 0.5% per month of the purchase price. So $3000/mo rent implies $600K price by that rule of thumb. Of course, even in the mid 90s, renting was mostly cheaper than buying.

That said, I don’t believe you can get $3000 per month in PB for a 1286 sq ft house.

[cantab]

In the 90s, houses in PB typically rented for 0.5% per month of the purchase price. So $3000/mo rent implies $600K price by that rule of thumb. Of course, even in the mid 90s, renting was mostly cheaper than buying.

That said, I don’t believe you can get $3000 per month in PB for a 1286 sq ft house.

[cantab]

In the 90s, houses in PB typically rented for 0.5% per month of the purchase price. So $3000/mo rent implies $600K price by that rule of thumb. Of course, even in the mid 90s, renting was mostly cheaper than buying.

That said, I don’t believe you can get $3000 per month in PB for a 1286 sq ft house.

[cantab]

In the 90s, houses in PB typically rented for 0.5% per month of the purchase price. So $3000/mo rent implies $600K price by that rule of thumb. Of course, even in the mid 90s, renting was mostly cheaper than buying.

That said, I don’t believe you can get $3000 per month in PB for a 1286 sq ft house.

[cantab]

In the 90s, houses in PB typically rented for 0.5% per month of the purchase price. So $3000/mo rent implies $600K price by that rule of thumb. Of course, even in the mid 90s, renting was mostly cheaper than buying.

That said, I don’t believe you can get $3000 per month in PB for a 1286 sq ft house.

[jpinpb]

I saw a place on Missouri, just as nice, that was renting for 2k. Hard to imagine someone getting 3. But I wouldn’t have thought this place would sell for 710k. So I guess anything is possible.

[jpinpb]

I saw a place on Missouri, just as nice, that was renting for 2k. Hard to imagine someone getting 3. But I wouldn’t have thought this place would sell for 710k. So I guess anything is possible.

[jpinpb]

I saw a place on Missouri, just as nice, that was renting for 2k. Hard to imagine someone getting 3. But I wouldn’t have thought this place would sell for 710k. So I guess anything is possible.

[jpinpb]

I saw a place on Missouri, just as nice, that was renting for 2k. Hard to imagine someone getting 3. But I wouldn’t have thought this place would sell for 710k. So I guess anything is possible.

[jpinpb]

I saw a place on Missouri, just as nice, that was renting for 2k. Hard to imagine someone getting 3. But I wouldn’t have thought this place would sell for 710k. So I guess anything is possible.

[ibjames]

I also wouldn’t base my judgement on one place. This could be one instance out of a 100 that actually had the stars line up and it sell at a high price.

You live in PB, drive around.. for sale signs everywhere.

That is not something that makes high prices sustainable. A lot of competition out there. PB’s rep hasn’t gotten any better either.

It is a place close to the ocean though, so the real dramtic declines I don’t think are happening there. It’s going to take some time for the wave of crap to fill it’s way down the streets.

Look at Mira Mesa, and some of the outskirts. For a while it seemed like San Diego wasn’t going to really decline much, only Temecula. We are seeing declines there now, it’s starting to make it’s way to other neighborhoods too. Don’t get distracted

[ibjames]

I also wouldn’t base my judgement on one place. This could be one instance out of a 100 that actually had the stars line up and it sell at a high price.

You live in PB, drive around.. for sale signs everywhere.

That is not something that makes high prices sustainable. A lot of competition out there. PB’s rep hasn’t gotten any better either.

It is a place close to the ocean though, so the real dramtic declines I don’t think are happening there. It’s going to take some time for the wave of crap to fill it’s way down the streets.

Look at Mira Mesa, and some of the outskirts. For a while it seemed like San Diego wasn’t going to really decline much, only Temecula. We are seeing declines there now, it’s starting to make it’s way to other neighborhoods too. Don’t get distracted

[ibjames]

I also wouldn’t base my judgement on one place. This could be one instance out of a 100 that actually had the stars line up and it sell at a high price.

You live in PB, drive around.. for sale signs everywhere.

That is not something that makes high prices sustainable. A lot of competition out there. PB’s rep hasn’t gotten any better either.

It is a place close to the ocean though, so the real dramtic declines I don’t think are happening there. It’s going to take some time for the wave of crap to fill it’s way down the streets.

Look at Mira Mesa, and some of the outskirts. For a while it seemed like San Diego wasn’t going to really decline much, only Temecula. We are seeing declines there now, it’s starting to make it’s way to other neighborhoods too. Don’t get distracted

[ibjames]

I also wouldn’t base my judgement on one place. This could be one instance out of a 100 that actually had the stars line up and it sell at a high price.

You live in PB, drive around.. for sale signs everywhere.

That is not something that makes high prices sustainable. A lot of competition out there. PB’s rep hasn’t gotten any better either.

It is a place close to the ocean though, so the real dramtic declines I don’t think are happening there. It’s going to take some time for the wave of crap to fill it’s way down the streets.

Look at Mira Mesa, and some of the outskirts. For a while it seemed like San Diego wasn’t going to really decline much, only Temecula. We are seeing declines there now, it’s starting to make it’s way to other neighborhoods too. Don’t get distracted

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