Point Loma reducing a little

[bearishgurl]

[quote=jpinpb]Edit – came across one more in 92103. 1432 Bush sold in 2007 for 825k. They listed it in January for 825k. Now listed for 660k-680k. Took them a year to reconsider their initial price…[/quote]

Canyon property, probably all on slope/no yard but well-built wraparound deck and nice FP’s/built ins. Located at the junction of the infamous “fork” beginning the steep slope up University. There could possibly be road noise from the deck. IMO, MH north of Washington St (where Puterbaugh is) is a superior location to this.

The REAL party who gained here were the sellers who purchased it for $139K in 1986 and probably sold it as a fixer for $825K in 2007!

If these current sellers paid $825K and then put in all the listed improvements shown on SDL on top of that, they’re going to take a very cold bath upon selling.

[an]

[quote=jpinpb]
There were a lot of crazy sales during the bubble. 92103 is still holding on compared to other areas w/their median/average around $473 psf.

Edit – came across one more in 92103. 1432 Bush sold in 2007 for 825k. They listed it in January for 825k. Now listed for 660k-680k. Took them a year to reconsider their initial price.

Reductions are coming.[/quote]
Now I see why you’re complaining. This house sold for $139k in 1986 for crying out loud. This house: http://www.sdlookup.com/MLS-090042193-10444_Flanders_Cove_San_Diego_CA_92126 in Mira Mesa sold for $11k less 3 years earlier. Which mean it probably would have sold for around the same price in 1986. Even at 1432 Bush’s currently list price, I still think it’s too much. Seeing how much it was worth in 1986, I don’t think it’s worth much more than $500k. The $679k they’re asking now was probably how much the MM house sold for at peak.

[an]

[quote=jpinpb]
There were a lot of crazy sales during the bubble. 92103 is still holding on compared to other areas w/their median/average around $473 psf.

Edit – came across one more in 92103. 1432 Bush sold in 2007 for 825k. They listed it in January for 825k. Now listed for 660k-680k. Took them a year to reconsider their initial price.

Reductions are coming.[/quote]
Now I see why you’re complaining. This house sold for $139k in 1986 for crying out loud. This house: http://www.sdlookup.com/MLS-090042193-10444_Flanders_Cove_San_Diego_CA_92126 in Mira Mesa sold for $11k less 3 years earlier. Which mean it probably would have sold for around the same price in 1986. Even at 1432 Bush’s currently list price, I still think it’s too much. Seeing how much it was worth in 1986, I don’t think it’s worth much more than $500k. The $679k they’re asking now was probably how much the MM house sold for at peak.

[an]

[quote=jpinpb]
There were a lot of crazy sales during the bubble. 92103 is still holding on compared to other areas w/their median/average around $473 psf.

Edit – came across one more in 92103. 1432 Bush sold in 2007 for 825k. They listed it in January for 825k. Now listed for 660k-680k. Took them a year to reconsider their initial price.

Reductions are coming.[/quote]
Now I see why you’re complaining. This house sold for $139k in 1986 for crying out loud. This house: http://www.sdlookup.com/MLS-090042193-10444_Flanders_Cove_San_Diego_CA_92126 in Mira Mesa sold for $11k less 3 years earlier. Which mean it probably would have sold for around the same price in 1986. Even at 1432 Bush’s currently list price, I still think it’s too much. Seeing how much it was worth in 1986, I don’t think it’s worth much more than $500k. The $679k they’re asking now was probably how much the MM house sold for at peak.

[an]

[quote=jpinpb]
There were a lot of crazy sales during the bubble. 92103 is still holding on compared to other areas w/their median/average around $473 psf.

Edit – came across one more in 92103. 1432 Bush sold in 2007 for 825k. They listed it in January for 825k. Now listed for 660k-680k. Took them a year to reconsider their initial price.

Reductions are coming.[/quote]
Now I see why you’re complaining. This house sold for $139k in 1986 for crying out loud. This house: http://www.sdlookup.com/MLS-090042193-10444_Flanders_Cove_San_Diego_CA_92126 in Mira Mesa sold for $11k less 3 years earlier. Which mean it probably would have sold for around the same price in 1986. Even at 1432 Bush’s currently list price, I still think it’s too much. Seeing how much it was worth in 1986, I don’t think it’s worth much more than $500k. The $679k they’re asking now was probably how much the MM house sold for at peak.

[an]

[quote=jpinpb]
There were a lot of crazy sales during the bubble. 92103 is still holding on compared to other areas w/their median/average around $473 psf.

Edit – came across one more in 92103. 1432 Bush sold in 2007 for 825k. They listed it in January for 825k. Now listed for 660k-680k. Took them a year to reconsider their initial price.

Reductions are coming.[/quote]
Now I see why you’re complaining. This house sold for $139k in 1986 for crying out loud. This house: http://www.sdlookup.com/MLS-090042193-10444_Flanders_Cove_San_Diego_CA_92126 in Mira Mesa sold for $11k less 3 years earlier. Which mean it probably would have sold for around the same price in 1986. Even at 1432 Bush’s currently list price, I still think it’s too much. Seeing how much it was worth in 1986, I don’t think it’s worth much more than $500k. The $679k they’re asking now was probably how much the MM house sold for at peak.

[jpinpb]

AN – I don’t think comparing homes in MM to 92103 is comparing apples to apples. The PPSF in 92103 is still high and that listing on Bush is below the median/average – which IMO is still high, but it is what it is for the high end – for now. Maybe these listings are canaries. Ever so slowly rip the bandaid off, trying to not feel the pain and maybe no one will notice the gradual price declines slowly infiltrating the high end.

[jpinpb]

AN – I don’t think comparing homes in MM to 92103 is comparing apples to apples. The PPSF in 92103 is still high and that listing on Bush is below the median/average – which IMO is still high, but it is what it is for the high end – for now. Maybe these listings are canaries. Ever so slowly rip the bandaid off, trying to not feel the pain and maybe no one will notice the gradual price declines slowly infiltrating the high end.

[jpinpb]

AN – I don’t think comparing homes in MM to 92103 is comparing apples to apples. The PPSF in 92103 is still high and that listing on Bush is below the median/average – which IMO is still high, but it is what it is for the high end – for now. Maybe these listings are canaries. Ever so slowly rip the bandaid off, trying to not feel the pain and maybe no one will notice the gradual price declines slowly infiltrating the high end.

[jpinpb]

AN – I don’t think comparing homes in MM to 92103 is comparing apples to apples. The PPSF in 92103 is still high and that listing on Bush is below the median/average – which IMO is still high, but it is what it is for the high end – for now. Maybe these listings are canaries. Ever so slowly rip the bandaid off, trying to not feel the pain and maybe no one will notice the gradual price declines slowly infiltrating the high end.

[jpinpb]

AN – I don’t think comparing homes in MM to 92103 is comparing apples to apples. The PPSF in 92103 is still high and that listing on Bush is below the median/average – which IMO is still high, but it is what it is for the high end – for now. Maybe these listings are canaries. Ever so slowly rip the bandaid off, trying to not feel the pain and maybe no one will notice the gradual price declines slowly infiltrating the high end.

[zzz]

JP, I don’t know how closely you’re following 92103, but I am viewing a lot of the homes, streets, lots and overall the inventory is VERY poor. So the homes that sit on the market are because they have a lot of issues, have very por layout or very poor remodels. But nice homes in 92103 get snatched up with bidding wars. The house on Bush is not a great deal in my opinion because there is no driveway, no garage, not really any ideal places to park. There is no yard either as its built over the canyon. Also, the bedrooms are below the slab, and feel a bit damp and musty. The kitchen and bathroom off of it are a bit funky.

I think I saw one of your posts about the low end in MH and those homes on Goldfinch and Reynard are not desirable. That is a VERY busy street with a lot of cars driving very fast and high speed car crashes. Also there are very few single family homes on the street.

A lot of what’s on the market that might look like a great deal is not, and the pictures are very deceiving. I can’t tell you how many times I’ve looked at the pictures thinking it has promise only to see the house and its nothing like it.

If you are really interested in MH, I’d suggest you start looking at the homes, because there are so many variables within the neighborhood in terms of pockets of it, streets, etc.

PM if you want any insights on specific properties.

[zzz]

JP, I don’t know how closely you’re following 92103, but I am viewing a lot of the homes, streets, lots and overall the inventory is VERY poor. So the homes that sit on the market are because they have a lot of issues, have very por layout or very poor remodels. But nice homes in 92103 get snatched up with bidding wars. The house on Bush is not a great deal in my opinion because there is no driveway, no garage, not really any ideal places to park. There is no yard either as its built over the canyon. Also, the bedrooms are below the slab, and feel a bit damp and musty. The kitchen and bathroom off of it are a bit funky.

I think I saw one of your posts about the low end in MH and those homes on Goldfinch and Reynard are not desirable. That is a VERY busy street with a lot of cars driving very fast and high speed car crashes. Also there are very few single family homes on the street.

A lot of what’s on the market that might look like a great deal is not, and the pictures are very deceiving. I can’t tell you how many times I’ve looked at the pictures thinking it has promise only to see the house and its nothing like it.

If you are really interested in MH, I’d suggest you start looking at the homes, because there are so many variables within the neighborhood in terms of pockets of it, streets, etc.

PM if you want any insights on specific properties.

[zzz]

JP, I don’t know how closely you’re following 92103, but I am viewing a lot of the homes, streets, lots and overall the inventory is VERY poor. So the homes that sit on the market are because they have a lot of issues, have very por layout or very poor remodels. But nice homes in 92103 get snatched up with bidding wars. The house on Bush is not a great deal in my opinion because there is no driveway, no garage, not really any ideal places to park. There is no yard either as its built over the canyon. Also, the bedrooms are below the slab, and feel a bit damp and musty. The kitchen and bathroom off of it are a bit funky.

I think I saw one of your posts about the low end in MH and those homes on Goldfinch and Reynard are not desirable. That is a VERY busy street with a lot of cars driving very fast and high speed car crashes. Also there are very few single family homes on the street.

A lot of what’s on the market that might look like a great deal is not, and the pictures are very deceiving. I can’t tell you how many times I’ve looked at the pictures thinking it has promise only to see the house and its nothing like it.

If you are really interested in MH, I’d suggest you start looking at the homes, because there are so many variables within the neighborhood in terms of pockets of it, streets, etc.

PM if you want any insights on specific properties.

[zzz]

JP, I don’t know how closely you’re following 92103, but I am viewing a lot of the homes, streets, lots and overall the inventory is VERY poor. So the homes that sit on the market are because they have a lot of issues, have very por layout or very poor remodels. But nice homes in 92103 get snatched up with bidding wars. The house on Bush is not a great deal in my opinion because there is no driveway, no garage, not really any ideal places to park. There is no yard either as its built over the canyon. Also, the bedrooms are below the slab, and feel a bit damp and musty. The kitchen and bathroom off of it are a bit funky.

I think I saw one of your posts about the low end in MH and those homes on Goldfinch and Reynard are not desirable. That is a VERY busy street with a lot of cars driving very fast and high speed car crashes. Also there are very few single family homes on the street.

A lot of what’s on the market that might look like a great deal is not, and the pictures are very deceiving. I can’t tell you how many times I’ve looked at the pictures thinking it has promise only to see the house and its nothing like it.

If you are really interested in MH, I’d suggest you start looking at the homes, because there are so many variables within the neighborhood in terms of pockets of it, streets, etc.

PM if you want any insights on specific properties.

[Author]

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