Pacific Beach market question

[Anonymous]

Prices are still high in PB… just check the most recent DQ chart for Feb. No 20% drop in PB yet or even close. I think that as long as houses keep selling high there, people will stay in denial, because so far, it’s just not hitting PB. Several went pending this week at high prices. Condos are down already, so will it hit SFHs? Maybe, but for now, they keep selling, even, as JP noted, really awful tear down type places.

[djc]

There is a lot of old money in PB. The market changes won’t affect many people, short of the recent handful of condo conversions and the like.

One won’t see distress sales there like there is in 4$, CV, SEH, etc. The area is obviously very popular with the college student demographic, so it is attractive for investment rentals. There are very few family types in the area for obvious reasons.

No matter what happens with the bars, beach drunks, and bums, it still is oceanfront and a historic part of SD.

[djc]

There is a lot of old money in PB. The market changes won’t affect many people, short of the recent handful of condo conversions and the like.

One won’t see distress sales there like there is in 4$, CV, SEH, etc. The area is obviously very popular with the college student demographic, so it is attractive for investment rentals. There are very few family types in the area for obvious reasons.

No matter what happens with the bars, beach drunks, and bums, it still is oceanfront and a historic part of SD.

[djc]

There is a lot of old money in PB. The market changes won’t affect many people, short of the recent handful of condo conversions and the like.

One won’t see distress sales there like there is in 4$, CV, SEH, etc. The area is obviously very popular with the college student demographic, so it is attractive for investment rentals. There are very few family types in the area for obvious reasons.

No matter what happens with the bars, beach drunks, and bums, it still is oceanfront and a historic part of SD.

[djc]

There is a lot of old money in PB. The market changes won’t affect many people, short of the recent handful of condo conversions and the like.

One won’t see distress sales there like there is in 4$, CV, SEH, etc. The area is obviously very popular with the college student demographic, so it is attractive for investment rentals. There are very few family types in the area for obvious reasons.

No matter what happens with the bars, beach drunks, and bums, it still is oceanfront and a historic part of SD.

[djc]

There is a lot of old money in PB. The market changes won’t affect many people, short of the recent handful of condo conversions and the like.

One won’t see distress sales there like there is in 4$, CV, SEH, etc. The area is obviously very popular with the college student demographic, so it is attractive for investment rentals. There are very few family types in the area for obvious reasons.

No matter what happens with the bars, beach drunks, and bums, it still is oceanfront and a historic part of SD.

[jpinpb]

djc – PB is not LJ. LJ is sterile. No homeless. No college kids partying and trashing the place. LJ is a status city. PB does have older people living there. These are some of the old houses being sold that have not been upgraded for 50 years. Obviously family selling them.

Some of these houses have been purchased by investors. How do you suppose the investors purchased them? Would they not do the 5yr I/0 ARMs? Won’t those be resetting? I’m more amazed that higher priced places are still selling now.

I would think PB would eventually see price declines. PB is not in a vacuum. It is not a seperate economy from the US or the world. How can it not be affected evenutally? I’ve seen prices of median homes in PB more than double from 2000 to 2008. Is that normal appreciation? While I don’t expect to see a 50% or 40% drop, I was still thinking there will be price declines.

I also thought that the weak fall first. Condos are declining. Won’t they be a drag on the SFH later?

And I understand that PB is attractive for investment rentals, but wouldn’t the numbers have to add up and make sense as a rental, if not a profitable rental, at least breaking even? Some of these places seem to be taking a loss. That’s why I was perplexed by the high-priced sales.

[jpinpb]

djc – PB is not LJ. LJ is sterile. No homeless. No college kids partying and trashing the place. LJ is a status city. PB does have older people living there. These are some of the old houses being sold that have not been upgraded for 50 years. Obviously family selling them.

Some of these houses have been purchased by investors. How do you suppose the investors purchased them? Would they not do the 5yr I/0 ARMs? Won’t those be resetting? I’m more amazed that higher priced places are still selling now.

I would think PB would eventually see price declines. PB is not in a vacuum. It is not a seperate economy from the US or the world. How can it not be affected evenutally? I’ve seen prices of median homes in PB more than double from 2000 to 2008. Is that normal appreciation? While I don’t expect to see a 50% or 40% drop, I was still thinking there will be price declines.

I also thought that the weak fall first. Condos are declining. Won’t they be a drag on the SFH later?

And I understand that PB is attractive for investment rentals, but wouldn’t the numbers have to add up and make sense as a rental, if not a profitable rental, at least breaking even? Some of these places seem to be taking a loss. That’s why I was perplexed by the high-priced sales.

[jpinpb]

djc – PB is not LJ. LJ is sterile. No homeless. No college kids partying and trashing the place. LJ is a status city. PB does have older people living there. These are some of the old houses being sold that have not been upgraded for 50 years. Obviously family selling them.

Some of these houses have been purchased by investors. How do you suppose the investors purchased them? Would they not do the 5yr I/0 ARMs? Won’t those be resetting? I’m more amazed that higher priced places are still selling now.

I would think PB would eventually see price declines. PB is not in a vacuum. It is not a seperate economy from the US or the world. How can it not be affected evenutally? I’ve seen prices of median homes in PB more than double from 2000 to 2008. Is that normal appreciation? While I don’t expect to see a 50% or 40% drop, I was still thinking there will be price declines.

I also thought that the weak fall first. Condos are declining. Won’t they be a drag on the SFH later?

And I understand that PB is attractive for investment rentals, but wouldn’t the numbers have to add up and make sense as a rental, if not a profitable rental, at least breaking even? Some of these places seem to be taking a loss. That’s why I was perplexed by the high-priced sales.

[jpinpb]

djc – PB is not LJ. LJ is sterile. No homeless. No college kids partying and trashing the place. LJ is a status city. PB does have older people living there. These are some of the old houses being sold that have not been upgraded for 50 years. Obviously family selling them.

Some of these houses have been purchased by investors. How do you suppose the investors purchased them? Would they not do the 5yr I/0 ARMs? Won’t those be resetting? I’m more amazed that higher priced places are still selling now.

I would think PB would eventually see price declines. PB is not in a vacuum. It is not a seperate economy from the US or the world. How can it not be affected evenutally? I’ve seen prices of median homes in PB more than double from 2000 to 2008. Is that normal appreciation? While I don’t expect to see a 50% or 40% drop, I was still thinking there will be price declines.

I also thought that the weak fall first. Condos are declining. Won’t they be a drag on the SFH later?

And I understand that PB is attractive for investment rentals, but wouldn’t the numbers have to add up and make sense as a rental, if not a profitable rental, at least breaking even? Some of these places seem to be taking a loss. That’s why I was perplexed by the high-priced sales.

[jpinpb]

djc – PB is not LJ. LJ is sterile. No homeless. No college kids partying and trashing the place. LJ is a status city. PB does have older people living there. These are some of the old houses being sold that have not been upgraded for 50 years. Obviously family selling them.

Some of these houses have been purchased by investors. How do you suppose the investors purchased them? Would they not do the 5yr I/0 ARMs? Won’t those be resetting? I’m more amazed that higher priced places are still selling now.

I would think PB would eventually see price declines. PB is not in a vacuum. It is not a seperate economy from the US or the world. How can it not be affected evenutally? I’ve seen prices of median homes in PB more than double from 2000 to 2008. Is that normal appreciation? While I don’t expect to see a 50% or 40% drop, I was still thinking there will be price declines.

I also thought that the weak fall first. Condos are declining. Won’t they be a drag on the SFH later?

And I understand that PB is attractive for investment rentals, but wouldn’t the numbers have to add up and make sense as a rental, if not a profitable rental, at least breaking even? Some of these places seem to be taking a loss. That’s why I was perplexed by the high-priced sales.

[Anonymous]

I moved to PB in 96, and at that time realtors couldn’t give away property, especially condos. I bought a 2/2 w/ garage for 120K. The area was clearly pummelled by the last real estate recession, it will be again this time.

[Anonymous]

I moved to PB in 96, and at that time realtors couldn’t give away property, especially condos. I bought a 2/2 w/ garage for 120K. The area was clearly pummelled by the last real estate recession, it will be again this time.

[Anonymous]

I moved to PB in 96, and at that time realtors couldn’t give away property, especially condos. I bought a 2/2 w/ garage for 120K. The area was clearly pummelled by the last real estate recession, it will be again this time.

[Anonymous]

I moved to PB in 96, and at that time realtors couldn’t give away property, especially condos. I bought a 2/2 w/ garage for 120K. The area was clearly pummelled by the last real estate recession, it will be again this time.

[Author]

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