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SD Realtor.
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October 10, 2007 at 2:46 PM #87879October 10, 2007 at 2:46 PM #87883
NotCranky
Participant“Is it pride that drives people to rent something at a loss rather than sell it at a loss?”
How about the inability to afford to sell it at a loss?
El dueno se encuentra entre de la espada y la pared. Does latin help you with that because Spanish didn’t help me a bit with your Latin and that es una gran sorpresa. The sentiment expressed in your sign off is nice however…
October 10, 2007 at 3:04 PM #87881SD Realtor
ParticipantI know of someone else looking at Liberty Station. It is a real story of sellers not budging on pricing. There are currently 3 pending listings in LS. So I do see prices moving down over there but very very slowly.
Not much motivation on any of the sellers parts.
SD Realtor
October 10, 2007 at 3:04 PM #87885ParticipantI know of someone else looking at Liberty Station. It is a real story of sellers not budging on pricing. There are currently 3 pending listings in LS. So I do see prices moving down over there but very very slowly.
Not much motivation on any of the sellers parts.
SD Realtor
October 10, 2007 at 7:58 PM #879474plexowner
ParticipantAnother nice feature of Liberty Station: you can cross North Harbor Dr at Laning Rd and get onto the sidewalk that runs along Harbor Dr
this sidewalk takes you all the way to the Star of India (1.7 miles one way) and it is a nice walk / jog / skate / bike / etc – the sidewalk is well away from Harbor Dr for most of the distance and it goes through Spanish Landing Park which is right across from the marinas
very scenic and very convenient
October 10, 2007 at 7:58 PM #87950ParticipantAnother nice feature of Liberty Station: you can cross North Harbor Dr at Laning Rd and get onto the sidewalk that runs along Harbor Dr
this sidewalk takes you all the way to the Star of India (1.7 miles one way) and it is a nice walk / jog / skate / bike / etc – the sidewalk is well away from Harbor Dr for most of the distance and it goes through Spanish Landing Park which is right across from the marinas
very scenic and very convenient
October 11, 2007 at 12:07 AM #87991Raybyrnes
ParticipantLiberty Staion is going to be very sticky on the way down. A lot of smart money got in there early. McMillan and many friends and family have been well counseled. They are sitting on huge amounts of equity and if they are not cash strapped they do not have to sell.
October 11, 2007 at 12:07 AM #87994ParticipantLiberty Staion is going to be very sticky on the way down. A lot of smart money got in there early. McMillan and many friends and family have been well counseled. They are sitting on huge amounts of equity and if they are not cash strapped they do not have to sell.
October 11, 2007 at 11:44 PM #88315sdcellar
ParticipantRaybyrnes– What does that even mean?
October 11, 2007 at 11:44 PM #88321ParticipantRaybyrnes– What does that even mean?
October 11, 2007 at 11:55 PM #88320ParticipantRay you pegged it… On top of that, the entire Liberty Station deal was a total screw up by the city of SD. The developer really got a great deal thanks to our idiots at city hall or city council… So what Ray is saying is that alot of smart money got in there and got in there quick. Many friends of the developers, and others simply got in at first crack and the appreciation has been substantial in a very small amount of time. So don’t expect to see much distress in Liberty Station at all… Basically those that live there do not have to sell and those that do have to sell have the luxury of a large equity cushion and a relatively (given this crappy market) high demand. Lots of listings in there that have expired, recycled, expired or cancelled again. Don’t get me wrong, prices have come down there but not by much.
As Ray said it will be sticky over there… really sticky.
SD Realtor
October 11, 2007 at 11:55 PM #88326ParticipantRay you pegged it… On top of that, the entire Liberty Station deal was a total screw up by the city of SD. The developer really got a great deal thanks to our idiots at city hall or city council… So what Ray is saying is that alot of smart money got in there and got in there quick. Many friends of the developers, and others simply got in at first crack and the appreciation has been substantial in a very small amount of time. So don’t expect to see much distress in Liberty Station at all… Basically those that live there do not have to sell and those that do have to sell have the luxury of a large equity cushion and a relatively (given this crappy market) high demand. Lots of listings in there that have expired, recycled, expired or cancelled again. Don’t get me wrong, prices have come down there but not by much.
As Ray said it will be sticky over there… really sticky.
SD Realtor
October 12, 2007 at 8:43 AM #88392ParticipantI have a different opinion on Liberty Station
When I walk / skate /jog through Liberty Station I make a point of looking for streets that DON’T have at least one For Sale sign – there aren’t many
Last time I counted For Sale signs a full 7% of the single-family units were for sale – seems high to me – how does this compare to other newly built neighborhoods?
Personally, the idea of paying $800K+ for a townhome in Liberty Station is laughable – these units are so close to one another that you can borrow a cup of sugar from your neighbor by sticking your hand out the kitchen window (not kidding!)
If San Diego’s market does what I expect it to do, there will be distressed units in Liberty Station for $600K’ish in 2011-2012
Time will tell …
October 12, 2007 at 8:43 AM #88397ParticipantI have a different opinion on Liberty Station
When I walk / skate /jog through Liberty Station I make a point of looking for streets that DON’T have at least one For Sale sign – there aren’t many
Last time I counted For Sale signs a full 7% of the single-family units were for sale – seems high to me – how does this compare to other newly built neighborhoods?
Personally, the idea of paying $800K+ for a townhome in Liberty Station is laughable – these units are so close to one another that you can borrow a cup of sugar from your neighbor by sticking your hand out the kitchen window (not kidding!)
If San Diego’s market does what I expect it to do, there will be distressed units in Liberty Station for $600K’ish in 2011-2012
Time will tell …
October 12, 2007 at 9:03 AM #88400pertinazzio
Participant“If San Diego’s market does what I expect it to do, there will be distressed units in Liberty Station for $600K’ish in 2011-2012”
Whewshish! I really really hope you are right! In the meantime I hope the equitities market remains strong while RE tanks but I suppose that should be a new topic
Beatus ille qui procul negotiis … paterna rura bobus exercet suis, solutus omni fenore….. Horace
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