Pain in La Jolla

[XBoxBoy]

awombadavis wrote:

“Is a clean $1M 2000sqft SFR with a back yard ocean view too much to ask for?” – I don’t think that’s going to happen… the 800 sq. ft. no view Bird Rock homes aren’t going under $1 million, so I think your scenario is too much to ask for.

Ummmm… actually….. this is happening. (Well at least darn close)

Several little bird rock homes have sold for under a mil in the last year or so. Here’s one that sold for under $900k:
http://www.sdlookup.com/Property-BFE8C89D-5835_La_Jolla_Hermosa_Ave_La_Jolla_CA_92037
and I believe there are others, although I don’t have time to try to dig them up.

And you want a more than 2000sqft SFR with back yard and ocean views for less than a mil?? Well, 1034 La Jolla Rancho Rd went pending a week or so ago after being offered for $999,000. ( MLS#: 086024374) That’s a 2418 sq ft house with ocean views and a pool. (Not sure how big the back yard is, but it’s a 10,100 sqft lot.) I ran past the place when it first hit the market on my morning run, and while it’s no beauty, I’ve seen far worse. (If zillow is to be trusted, it looks like the bank bought it back for $1,753,769 – Ouch that’s gotta sting!) Of course, the pending price isn’t always the sales price, and so it could easily have gone for more than a mil, we’ll have to wait until it closes to know.

But, the point of this thread, and the point of my response, is that things in places like La Jolla are showing a lot bigger cracks than people want to admit.

[JustLurking]

XBoxBoy,

I am also shopping in La Jolla and the tide is definitely turning. A lot of sellers are chasing the market down. I started looking last summer. At about the same time, I found the Piggs and became a convert, so now I wait. Many, many of the houses I looked at almost a year ago are still listed – well, repeatedly relisted to look “new”.

That house on El Paseo Grande was not that great. I think the buyer overpaid at $2.5 million. It is on a corner with horrible traffic and the new Scripps conference center will block some of the view. The place had a very strong mold smell, which the realtor said was because it was closed up since the seller did not live there. Maybe. It is stunning to me that someone paid $3 million for it 2 years ago.

I went to a few open houses yesterday. At all but one, I was the only one there.

[JustLurking]

XBoxBoy,

I am also shopping in La Jolla and the tide is definitely turning. A lot of sellers are chasing the market down. I started looking last summer. At about the same time, I found the Piggs and became a convert, so now I wait. Many, many of the houses I looked at almost a year ago are still listed – well, repeatedly relisted to look “new”.

That house on El Paseo Grande was not that great. I think the buyer overpaid at $2.5 million. It is on a corner with horrible traffic and the new Scripps conference center will block some of the view. The place had a very strong mold smell, which the realtor said was because it was closed up since the seller did not live there. Maybe. It is stunning to me that someone paid $3 million for it 2 years ago.

I went to a few open houses yesterday. At all but one, I was the only one there.

[JustLurking]

XBoxBoy,

I am also shopping in La Jolla and the tide is definitely turning. A lot of sellers are chasing the market down. I started looking last summer. At about the same time, I found the Piggs and became a convert, so now I wait. Many, many of the houses I looked at almost a year ago are still listed – well, repeatedly relisted to look “new”.

That house on El Paseo Grande was not that great. I think the buyer overpaid at $2.5 million. It is on a corner with horrible traffic and the new Scripps conference center will block some of the view. The place had a very strong mold smell, which the realtor said was because it was closed up since the seller did not live there. Maybe. It is stunning to me that someone paid $3 million for it 2 years ago.

I went to a few open houses yesterday. At all but one, I was the only one there.

[JustLurking]

XBoxBoy,

I am also shopping in La Jolla and the tide is definitely turning. A lot of sellers are chasing the market down. I started looking last summer. At about the same time, I found the Piggs and became a convert, so now I wait. Many, many of the houses I looked at almost a year ago are still listed – well, repeatedly relisted to look “new”.

That house on El Paseo Grande was not that great. I think the buyer overpaid at $2.5 million. It is on a corner with horrible traffic and the new Scripps conference center will block some of the view. The place had a very strong mold smell, which the realtor said was because it was closed up since the seller did not live there. Maybe. It is stunning to me that someone paid $3 million for it 2 years ago.

I went to a few open houses yesterday. At all but one, I was the only one there.

[JustLurking]

XBoxBoy,

I am also shopping in La Jolla and the tide is definitely turning. A lot of sellers are chasing the market down. I started looking last summer. At about the same time, I found the Piggs and became a convert, so now I wait. Many, many of the houses I looked at almost a year ago are still listed – well, repeatedly relisted to look “new”.

That house on El Paseo Grande was not that great. I think the buyer overpaid at $2.5 million. It is on a corner with horrible traffic and the new Scripps conference center will block some of the view. The place had a very strong mold smell, which the realtor said was because it was closed up since the seller did not live there. Maybe. It is stunning to me that someone paid $3 million for it 2 years ago.

I went to a few open houses yesterday. At all but one, I was the only one there.

[La Jolla Renter]

xbox,

I looked at 1034 La Jolla Rancho and was certainly ready to put in an offer if the 999k was legit(it wasn’t). It needed complete remodel, but nice sized house with pretty nice front/side yard view. I have been watching every day to see the final sale price. I am going to guess 1.4M. I know there were several offers on the place. I would have jumped all over it at the 999k asking price, maybe even 1.1M. If the price comes in below 1.4, we are seeing some big cracks alright.

[La Jolla Renter]

xbox,

I looked at 1034 La Jolla Rancho and was certainly ready to put in an offer if the 999k was legit(it wasn’t). It needed complete remodel, but nice sized house with pretty nice front/side yard view. I have been watching every day to see the final sale price. I am going to guess 1.4M. I know there were several offers on the place. I would have jumped all over it at the 999k asking price, maybe even 1.1M. If the price comes in below 1.4, we are seeing some big cracks alright.

[La Jolla Renter]

xbox,

I looked at 1034 La Jolla Rancho and was certainly ready to put in an offer if the 999k was legit(it wasn’t). It needed complete remodel, but nice sized house with pretty nice front/side yard view. I have been watching every day to see the final sale price. I am going to guess 1.4M. I know there were several offers on the place. I would have jumped all over it at the 999k asking price, maybe even 1.1M. If the price comes in below 1.4, we are seeing some big cracks alright.

[La Jolla Renter]

xbox,

I looked at 1034 La Jolla Rancho and was certainly ready to put in an offer if the 999k was legit(it wasn’t). It needed complete remodel, but nice sized house with pretty nice front/side yard view. I have been watching every day to see the final sale price. I am going to guess 1.4M. I know there were several offers on the place. I would have jumped all over it at the 999k asking price, maybe even 1.1M. If the price comes in below 1.4, we are seeing some big cracks alright.

[La Jolla Renter]

xbox,

I looked at 1034 La Jolla Rancho and was certainly ready to put in an offer if the 999k was legit(it wasn’t). It needed complete remodel, but nice sized house with pretty nice front/side yard view. I have been watching every day to see the final sale price. I am going to guess 1.4M. I know there were several offers on the place. I would have jumped all over it at the 999k asking price, maybe even 1.1M. If the price comes in below 1.4, we are seeing some big cracks alright.

[Anonymous]

The question was “Is a clean $1M 2000sqft SFR with a back yard ocean view too much to ask for?”

My opinion is that IS too much to ask, and highly unlikely that will happen. Maybe I’ll be proven wrong, but clean, 2000 sq. ft and a back yard ocean view in La Jolla for less than $1M, not likely.

[Anonymous]

The question was “Is a clean $1M 2000sqft SFR with a back yard ocean view too much to ask for?”

My opinion is that IS too much to ask, and highly unlikely that will happen. Maybe I’ll be proven wrong, but clean, 2000 sq. ft and a back yard ocean view in La Jolla for less than $1M, not likely.

[Anonymous]

The question was “Is a clean $1M 2000sqft SFR with a back yard ocean view too much to ask for?”

My opinion is that IS too much to ask, and highly unlikely that will happen. Maybe I’ll be proven wrong, but clean, 2000 sq. ft and a back yard ocean view in La Jolla for less than $1M, not likely.

[Anonymous]

The question was “Is a clean $1M 2000sqft SFR with a back yard ocean view too much to ask for?”

My opinion is that IS too much to ask, and highly unlikely that will happen. Maybe I’ll be proven wrong, but clean, 2000 sq. ft and a back yard ocean view in La Jolla for less than $1M, not likely.

[Author]

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