Point Loma reducing a little

[an]

[quote=jpinpb]If I’m understanding AN, it was the gap is greater now. I think that was the comparison. Maybe I misunderstood what the examples were illustrating.[/quote]
Yes, that’s exactly what I’m trying compare. I’m not saying that these areas attract the same buyers (i.e. buyers don’t usually cross shop these areas). However, the premium for each of these areas are all related.

Since BG stated that the reason by a huge price appreciation between MH and other areas in SD is due to the major rehab that was going on in the 80s, I decide to do some more investigating and compare premium of MH vs MM in the mid 90s instead of the mid 80s. This is what I come up with:

MH:
http://www.sdlookup.com/MLS-100064293-3665_Jackdaw_St_San_Diego_CA_92103
03/05/2008 $610,000 10y 7m 94% 6%
07/11/1997 $315,000 1y 10m 60% 28%
08/24/1995 $197,000 n/a – –

http://www.sdlookup.com/MLS-100053546-3775_Dana_Pl_San_Diego_CA_92103
10/02/1998 $262,500 7y 2m 20% 3%
07/11/1991 $219,500 6y 3m 74% 9%
03/27/1985 $126,500 n/a – –

http://www.sdlookup.com/MLS-100054217-2839_State_St_San_Diego_CA_92103
12/30/1998 $315,000 15y 2m 133% 6%
10/24/1983 $135,000 n/a – –

http://www.sdlookup.com/MLS-100063461-1860_Fort_Stockton_Dr_San_Diego_CA_92103
02/20/2002 $535,000 3y 6m 45% 11%
08/24/1998 $369,000 9y 2m 9% 1%
06/13/1989 $340,000 1y 10m 37% 18%
07/31/1987 $249,000 3y 2m 49% 13%
05/30/1984 $167,600 n/a – –

http://www.sdlookup.com/MLS-090042193-10444_Flanders_Cove_San_Diego_CA_92126
02/18/2010 $504,000 10y 2m 83% 6%
12/13/1999 $275,000 16y 2m 115% 5%
09/30/1983 $128,075 n/a – –

http://www.sdlookup.com/MLS-100047289-7666_Northrup_Pl_San_Diego_CA_92126
02/24/2005 $621,000 14y 10m 182% 7%
04/12/1990 $220,000 5y 5m 67% 10%
10/15/1984 $132,000 4m -4% -11%
06/04/1984 $138,000 5m 4% 8%
12/21/1983 $133,075 n/a – –

http://www.sdlookup.com/MLS-100045205-6646_Hollycrest_Ct_San_Diego_CA_92121
09/01/2004 $780,000 4y 9m 106% 16%
11/10/1999 $379,243 n/a – –

As you can see, the premium difference between 3775 Dana Pl and 10444 Flanders Cove is roughly the same both in mid 80s and late 90s with their sold price. The Flanders Cove was completely remodeled as well with all the modern amenities. Yet it closed for $504k. The Dana Pl property on the other hand is asking $729k. So, let me ask my question again, what has changed in MH since the late 90s that made it that much more desirable?

[an]

[quote=bearishgurl]
Thank you for that, UCGal, I think AN is trying to compare apples to oranges when comparing MH and LJ to MM here. In addition, he brought up a highly upgraded comp in 92109 to compare to MM. They’re all different animals. [/quote]
If you spend a little more time reading my post, you’ll noticed I was comparing MH TO LJ TO MM. I’m not saying they’re equal, but they all have a premium attach to it. I.e. for comparable places, MH might be x% greater than MM while LJ might be x% greater than MH and x% greater than MM. Over the long term, that x% should be consistent.

[quote=bearishgurl]What AN is referring to here was obviously a nondescript tract home when purchased in 1985 for $212K. It had a LOT of $$ invested in it prior to the pics being taken for the above listing on SDL.

No offense to AN, but MM is not even in the same league as MH and LJ (and I was probably scraping acoustical ceiling for a friend on “Capricorn Wy” in MM before AN was born … lol). His comp in 92009, although upgraded, is a tract home where the vast majority of homes in 92103 and 92106 are custom. 92037 is 2/3 custom and 1/3 tract. Virtually ALL the homes in MM are built on tract.

Nothing wrong with that, but it is what it is.[/quote]
No offense to BG, but old age might be affecting your reading comprehension. There you go with tract vs custom again. To each his/her own. Whether a house is a tract home or a custom home makes no difference in the question I pose. Unless you think that custom home will appreciate more over time than a tract home.

[an]

[quote=bearishgurl]
Thank you for that, UCGal, I think AN is trying to compare apples to oranges when comparing MH and LJ to MM here. In addition, he brought up a highly upgraded comp in 92109 to compare to MM. They’re all different animals. [/quote]
If you spend a little more time reading my post, you’ll noticed I was comparing MH TO LJ TO MM. I’m not saying they’re equal, but they all have a premium attach to it. I.e. for comparable places, MH might be x% greater than MM while LJ might be x% greater than MH and x% greater than MM. Over the long term, that x% should be consistent.

[quote=bearishgurl]What AN is referring to here was obviously a nondescript tract home when purchased in 1985 for $212K. It had a LOT of $$ invested in it prior to the pics being taken for the above listing on SDL.

No offense to AN, but MM is not even in the same league as MH and LJ (and I was probably scraping acoustical ceiling for a friend on “Capricorn Wy” in MM before AN was born … lol). His comp in 92009, although upgraded, is a tract home where the vast majority of homes in 92103 and 92106 are custom. 92037 is 2/3 custom and 1/3 tract. Virtually ALL the homes in MM are built on tract.

Nothing wrong with that, but it is what it is.[/quote]
No offense to BG, but old age might be affecting your reading comprehension. There you go with tract vs custom again. To each his/her own. Whether a house is a tract home or a custom home makes no difference in the question I pose. Unless you think that custom home will appreciate more over time than a tract home.

[an]

[quote=bearishgurl]
Thank you for that, UCGal, I think AN is trying to compare apples to oranges when comparing MH and LJ to MM here. In addition, he brought up a highly upgraded comp in 92109 to compare to MM. They’re all different animals. [/quote]
If you spend a little more time reading my post, you’ll noticed I was comparing MH TO LJ TO MM. I’m not saying they’re equal, but they all have a premium attach to it. I.e. for comparable places, MH might be x% greater than MM while LJ might be x% greater than MH and x% greater than MM. Over the long term, that x% should be consistent.

[quote=bearishgurl]What AN is referring to here was obviously a nondescript tract home when purchased in 1985 for $212K. It had a LOT of $$ invested in it prior to the pics being taken for the above listing on SDL.

No offense to AN, but MM is not even in the same league as MH and LJ (and I was probably scraping acoustical ceiling for a friend on “Capricorn Wy” in MM before AN was born … lol). His comp in 92009, although upgraded, is a tract home where the vast majority of homes in 92103 and 92106 are custom. 92037 is 2/3 custom and 1/3 tract. Virtually ALL the homes in MM are built on tract.

Nothing wrong with that, but it is what it is.[/quote]
No offense to BG, but old age might be affecting your reading comprehension. There you go with tract vs custom again. To each his/her own. Whether a house is a tract home or a custom home makes no difference in the question I pose. Unless you think that custom home will appreciate more over time than a tract home.

[an]

[quote=bearishgurl]
Thank you for that, UCGal, I think AN is trying to compare apples to oranges when comparing MH and LJ to MM here. In addition, he brought up a highly upgraded comp in 92109 to compare to MM. They’re all different animals. [/quote]
If you spend a little more time reading my post, you’ll noticed I was comparing MH TO LJ TO MM. I’m not saying they’re equal, but they all have a premium attach to it. I.e. for comparable places, MH might be x% greater than MM while LJ might be x% greater than MH and x% greater than MM. Over the long term, that x% should be consistent.

[quote=bearishgurl]What AN is referring to here was obviously a nondescript tract home when purchased in 1985 for $212K. It had a LOT of $$ invested in it prior to the pics being taken for the above listing on SDL.

No offense to AN, but MM is not even in the same league as MH and LJ (and I was probably scraping acoustical ceiling for a friend on “Capricorn Wy” in MM before AN was born … lol). His comp in 92009, although upgraded, is a tract home where the vast majority of homes in 92103 and 92106 are custom. 92037 is 2/3 custom and 1/3 tract. Virtually ALL the homes in MM are built on tract.

Nothing wrong with that, but it is what it is.[/quote]
No offense to BG, but old age might be affecting your reading comprehension. There you go with tract vs custom again. To each his/her own. Whether a house is a tract home or a custom home makes no difference in the question I pose. Unless you think that custom home will appreciate more over time than a tract home.

[an]

[quote=bearishgurl]
Thank you for that, UCGal, I think AN is trying to compare apples to oranges when comparing MH and LJ to MM here. In addition, he brought up a highly upgraded comp in 92109 to compare to MM. They’re all different animals. [/quote]
If you spend a little more time reading my post, you’ll noticed I was comparing MH TO LJ TO MM. I’m not saying they’re equal, but they all have a premium attach to it. I.e. for comparable places, MH might be x% greater than MM while LJ might be x% greater than MH and x% greater than MM. Over the long term, that x% should be consistent.

[quote=bearishgurl]What AN is referring to here was obviously a nondescript tract home when purchased in 1985 for $212K. It had a LOT of $$ invested in it prior to the pics being taken for the above listing on SDL.

No offense to AN, but MM is not even in the same league as MH and LJ (and I was probably scraping acoustical ceiling for a friend on “Capricorn Wy” in MM before AN was born … lol). His comp in 92009, although upgraded, is a tract home where the vast majority of homes in 92103 and 92106 are custom. 92037 is 2/3 custom and 1/3 tract. Virtually ALL the homes in MM are built on tract.

Nothing wrong with that, but it is what it is.[/quote]
No offense to BG, but old age might be affecting your reading comprehension. There you go with tract vs custom again. To each his/her own. Whether a house is a tract home or a custom home makes no difference in the question I pose. Unless you think that custom home will appreciate more over time than a tract home.

[sdrealtor]

FWIW the 92009 house was not a tract home. That area is full of customs albeit of a far more recent vintage.

[sdrealtor]

FWIW the 92009 house was not a tract home. That area is full of customs albeit of a far more recent vintage.

[sdrealtor]

FWIW the 92009 house was not a tract home. That area is full of customs albeit of a far more recent vintage.

[sdrealtor]

FWIW the 92009 house was not a tract home. That area is full of customs albeit of a far more recent vintage.

[sdrealtor]

FWIW the 92009 house was not a tract home. That area is full of customs albeit of a far more recent vintage.

[an]

For those MH experts out there, I have a question for you guys/gals. Because I don’t know MH that well, maybe you guys can enlighten me. What’s so special about MH that makes it so expensive? In my eyes, it might even be more expensive than LJ. Here are two examples, one in MH and one in LJ.

http://www.sdlookup.com/MLS-100063461-1860_Fort_Stockton_Dr_San_Diego_CA_92103
1588 sq-ft on 4100 sq-ft lot w/ no view.

http://www.sdlookup.com/MLS-100027762-5689_Caminito_Danzarin_La_Jolla_CA_92037
2593 sq-ft w/ Canyon view.

[an]

For those MH experts out there, I have a question for you guys/gals. Because I don’t know MH that well, maybe you guys can enlighten me. What’s so special about MH that makes it so expensive? In my eyes, it might even be more expensive than LJ. Here are two examples, one in MH and one in LJ.

http://www.sdlookup.com/MLS-100063461-1860_Fort_Stockton_Dr_San_Diego_CA_92103
1588 sq-ft on 4100 sq-ft lot w/ no view.

http://www.sdlookup.com/MLS-100027762-5689_Caminito_Danzarin_La_Jolla_CA_92037
2593 sq-ft w/ Canyon view.

[an]

For those MH experts out there, I have a question for you guys/gals. Because I don’t know MH that well, maybe you guys can enlighten me. What’s so special about MH that makes it so expensive? In my eyes, it might even be more expensive than LJ. Here are two examples, one in MH and one in LJ.

http://www.sdlookup.com/MLS-100063461-1860_Fort_Stockton_Dr_San_Diego_CA_92103
1588 sq-ft on 4100 sq-ft lot w/ no view.

http://www.sdlookup.com/MLS-100027762-5689_Caminito_Danzarin_La_Jolla_CA_92037
2593 sq-ft w/ Canyon view.

[an]

For those MH experts out there, I have a question for you guys/gals. Because I don’t know MH that well, maybe you guys can enlighten me. What’s so special about MH that makes it so expensive? In my eyes, it might even be more expensive than LJ. Here are two examples, one in MH and one in LJ.

http://www.sdlookup.com/MLS-100063461-1860_Fort_Stockton_Dr_San_Diego_CA_92103
1588 sq-ft on 4100 sq-ft lot w/ no view.

http://www.sdlookup.com/MLS-100027762-5689_Caminito_Danzarin_La_Jolla_CA_92037
2593 sq-ft w/ Canyon view.

[Author]

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