Point Loma reducing a little

[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.

[CA renter]

[quote=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.[/quote]

BG is right about custom vs. tract homes. In general, a custom home will hold it’s value/appreciate more than a tract home, all else being equal.

The difference between the MH home and the LJ home you’ve linked above is that there are a number of people who seek out older, “historical” custom homes. Just anecdotal, but a lot of these people tend to be DINKS and/or people with a lot of money who like to buy something architecturally unique and aesthetically pleasing.

While newer homes might need less maintenance, work better for families, and be in “better” school districts (the reasons why most people seek out the newer tract homes), there is nothing unique or beautiful about them, IMHO. You get a lot of young families in tract homes, and these buyers tend to be the weakest buyers, so they are more prone to financial distress, IMHO.

FWIW, I’m a sucker for older, custom homes, so have to admit my bias. 😉 Seriously, since we’re looking for a custom home ourselves, I can assure you that the competition is fierce, and lots of these buyers have tons of cash.

[CA renter]

[quote=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.[/quote]

BG is right about custom vs. tract homes. In general, a custom home will hold it’s value/appreciate more than a tract home, all else being equal.

The difference between the MH home and the LJ home you’ve linked above is that there are a number of people who seek out older, “historical” custom homes. Just anecdotal, but a lot of these people tend to be DINKS and/or people with a lot of money who like to buy something architecturally unique and aesthetically pleasing.

While newer homes might need less maintenance, work better for families, and be in “better” school districts (the reasons why most people seek out the newer tract homes), there is nothing unique or beautiful about them, IMHO. You get a lot of young families in tract homes, and these buyers tend to be the weakest buyers, so they are more prone to financial distress, IMHO.

FWIW, I’m a sucker for older, custom homes, so have to admit my bias. 😉 Seriously, since we’re looking for a custom home ourselves, I can assure you that the competition is fierce, and lots of these buyers have tons of cash.

[CA renter]

[quote=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.[/quote]

BG is right about custom vs. tract homes. In general, a custom home will hold it’s value/appreciate more than a tract home, all else being equal.

The difference between the MH home and the LJ home you’ve linked above is that there are a number of people who seek out older, “historical” custom homes. Just anecdotal, but a lot of these people tend to be DINKS and/or people with a lot of money who like to buy something architecturally unique and aesthetically pleasing.

While newer homes might need less maintenance, work better for families, and be in “better” school districts (the reasons why most people seek out the newer tract homes), there is nothing unique or beautiful about them, IMHO. You get a lot of young families in tract homes, and these buyers tend to be the weakest buyers, so they are more prone to financial distress, IMHO.

FWIW, I’m a sucker for older, custom homes, so have to admit my bias. 😉 Seriously, since we’re looking for a custom home ourselves, I can assure you that the competition is fierce, and lots of these buyers have tons of cash.

[CA renter]

[quote=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.[/quote]

BG is right about custom vs. tract homes. In general, a custom home will hold it’s value/appreciate more than a tract home, all else being equal.

The difference between the MH home and the LJ home you’ve linked above is that there are a number of people who seek out older, “historical” custom homes. Just anecdotal, but a lot of these people tend to be DINKS and/or people with a lot of money who like to buy something architecturally unique and aesthetically pleasing.

While newer homes might need less maintenance, work better for families, and be in “better” school districts (the reasons why most people seek out the newer tract homes), there is nothing unique or beautiful about them, IMHO. You get a lot of young families in tract homes, and these buyers tend to be the weakest buyers, so they are more prone to financial distress, IMHO.

FWIW, I’m a sucker for older, custom homes, so have to admit my bias. 😉 Seriously, since we’re looking for a custom home ourselves, I can assure you that the competition is fierce, and lots of these buyers have tons of cash.

[CA renter]

[quote=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.[/quote]

BG is right about custom vs. tract homes. In general, a custom home will hold it’s value/appreciate more than a tract home, all else being equal.

The difference between the MH home and the LJ home you’ve linked above is that there are a number of people who seek out older, “historical” custom homes. Just anecdotal, but a lot of these people tend to be DINKS and/or people with a lot of money who like to buy something architecturally unique and aesthetically pleasing.

While newer homes might need less maintenance, work better for families, and be in “better” school districts (the reasons why most people seek out the newer tract homes), there is nothing unique or beautiful about them, IMHO. You get a lot of young families in tract homes, and these buyers tend to be the weakest buyers, so they are more prone to financial distress, IMHO.

FWIW, I’m a sucker for older, custom homes, so have to admit my bias. 😉 Seriously, since we’re looking for a custom home ourselves, I can assure you that the competition is fierce, and lots of these buyers have tons of cash.

[CA renter]

[quote=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.[/quote]

Yep, they are the canaries in the coal mine. This is the way the market turns.

The price declines happen very gradually, usually affecting the least-desirable properties first, then the declines move to the more desirable properties. This is why the worst homes in the “low-end” areas were affected first…then, as time moves on, the entire “low end” gets hit, and the trend moves into the next tier, starting with the least desirable properties and later affecting the more desirable, then to the next tier, etc.

There is no doubt that we are overdue for the next leg of the downturn, and that things have markedly deteriorated (from a seller’s perspective — it’s all relative); however, part of this slowdown could be mostly seasonal. I think the slowdown is real, but we won’t really know until we see a short/slow spring selling season.

[CA renter]

[quote=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.[/quote]

Yep, they are the canaries in the coal mine. This is the way the market turns.

The price declines happen very gradually, usually affecting the least-desirable properties first, then the declines move to the more desirable properties. This is why the worst homes in the “low-end” areas were affected first…then, as time moves on, the entire “low end” gets hit, and the trend moves into the next tier, starting with the least desirable properties and later affecting the more desirable, then to the next tier, etc.

There is no doubt that we are overdue for the next leg of the downturn, and that things have markedly deteriorated (from a seller’s perspective — it’s all relative); however, part of this slowdown could be mostly seasonal. I think the slowdown is real, but we won’t really know until we see a short/slow spring selling season.

[CA renter]

[quote=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.[/quote]

Yep, they are the canaries in the coal mine. This is the way the market turns.

The price declines happen very gradually, usually affecting the least-desirable properties first, then the declines move to the more desirable properties. This is why the worst homes in the “low-end” areas were affected first…then, as time moves on, the entire “low end” gets hit, and the trend moves into the next tier, starting with the least desirable properties and later affecting the more desirable, then to the next tier, etc.

There is no doubt that we are overdue for the next leg of the downturn, and that things have markedly deteriorated (from a seller’s perspective — it’s all relative); however, part of this slowdown could be mostly seasonal. I think the slowdown is real, but we won’t really know until we see a short/slow spring selling season.

[CA renter]

[quote=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.[/quote]

Yep, they are the canaries in the coal mine. This is the way the market turns.

The price declines happen very gradually, usually affecting the least-desirable properties first, then the declines move to the more desirable properties. This is why the worst homes in the “low-end” areas were affected first…then, as time moves on, the entire “low end” gets hit, and the trend moves into the next tier, starting with the least desirable properties and later affecting the more desirable, then to the next tier, etc.

There is no doubt that we are overdue for the next leg of the downturn, and that things have markedly deteriorated (from a seller’s perspective — it’s all relative); however, part of this slowdown could be mostly seasonal. I think the slowdown is real, but we won’t really know until we see a short/slow spring selling season.

[CA renter]

[quote=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.[/quote]

Yep, they are the canaries in the coal mine. This is the way the market turns.

The price declines happen very gradually, usually affecting the least-desirable properties first, then the declines move to the more desirable properties. This is why the worst homes in the “low-end” areas were affected first…then, as time moves on, the entire “low end” gets hit, and the trend moves into the next tier, starting with the least desirable properties and later affecting the more desirable, then to the next tier, etc.

There is no doubt that we are overdue for the next leg of the downturn, and that things have markedly deteriorated (from a seller’s perspective — it’s all relative); however, part of this slowdown could be mostly seasonal. I think the slowdown is real, but we won’t really know until we see a short/slow spring selling season.

[an]

[quote=CA renter]
BG is right about custom vs. tract homes. In general, a custom home will hold it’s value/appreciate more than a tract home, all else being equal.[/quote]
Do you have data behind this? Not trying to pick on you, just want to know if this is your opinion or it is in-fact a reality. I think to have a more apple to apple comparison between custom vs tract, they must be in the same zip code, build around the same year, similar sq-ft for house AND lot. I know this is probably a hard if not impossible exercise, but it help prove your statement “all else being equal”.

[quote=CA renter]The difference between the MH home and the LJ home you’ve linked above is that there are a number of people who seek out older, “historical” custom homes. Just anecdotal, but a lot of these people tend to be DINKS and/or people with a lot of money who like to buy something architecturally unique and aesthetically pleasing.

While newer homes might need less maintenance, work better for families, and be in “better” school districts (the reasons why most people seek out the newer tract homes), there is nothing unique or beautiful about them, IMHO. You get a lot of young families in tract homes, and these buyers tend to be the weakest buyers, so they are more prone to financial distress, IMHO.

FWIW, I’m a sucker for older, custom homes, so have to admit my bias. 😉 Seriously, since we’re looking for a custom home ourselves, I can assure you that the competition is fierce, and lots of these buyers have tons of cash.[/quote]
I wonder if it has something to do with generational as well. Personally, I look at that MH home and I see nothing attractive about it. There’s a difference between a beautiful custom home in RSF vs these 1500 sq-ft early-mid century custom homes in my eyes. 1500 sq-ft my be huge 50-90 years ago, but it’s tiny in today’s standard.

[an]

[quote=CA renter]
BG is right about custom vs. tract homes. In general, a custom home will hold it’s value/appreciate more than a tract home, all else being equal.[/quote]
Do you have data behind this? Not trying to pick on you, just want to know if this is your opinion or it is in-fact a reality. I think to have a more apple to apple comparison between custom vs tract, they must be in the same zip code, build around the same year, similar sq-ft for house AND lot. I know this is probably a hard if not impossible exercise, but it help prove your statement “all else being equal”.

[quote=CA renter]The difference between the MH home and the LJ home you’ve linked above is that there are a number of people who seek out older, “historical” custom homes. Just anecdotal, but a lot of these people tend to be DINKS and/or people with a lot of money who like to buy something architecturally unique and aesthetically pleasing.

While newer homes might need less maintenance, work better for families, and be in “better” school districts (the reasons why most people seek out the newer tract homes), there is nothing unique or beautiful about them, IMHO. You get a lot of young families in tract homes, and these buyers tend to be the weakest buyers, so they are more prone to financial distress, IMHO.

FWIW, I’m a sucker for older, custom homes, so have to admit my bias. 😉 Seriously, since we’re looking for a custom home ourselves, I can assure you that the competition is fierce, and lots of these buyers have tons of cash.[/quote]
I wonder if it has something to do with generational as well. Personally, I look at that MH home and I see nothing attractive about it. There’s a difference between a beautiful custom home in RSF vs these 1500 sq-ft early-mid century custom homes in my eyes. 1500 sq-ft my be huge 50-90 years ago, but it’s tiny in today’s standard.

[an]

[quote=CA renter]
BG is right about custom vs. tract homes. In general, a custom home will hold it’s value/appreciate more than a tract home, all else being equal.[/quote]
Do you have data behind this? Not trying to pick on you, just want to know if this is your opinion or it is in-fact a reality. I think to have a more apple to apple comparison between custom vs tract, they must be in the same zip code, build around the same year, similar sq-ft for house AND lot. I know this is probably a hard if not impossible exercise, but it help prove your statement “all else being equal”.

[quote=CA renter]The difference between the MH home and the LJ home you’ve linked above is that there are a number of people who seek out older, “historical” custom homes. Just anecdotal, but a lot of these people tend to be DINKS and/or people with a lot of money who like to buy something architecturally unique and aesthetically pleasing.

While newer homes might need less maintenance, work better for families, and be in “better” school districts (the reasons why most people seek out the newer tract homes), there is nothing unique or beautiful about them, IMHO. You get a lot of young families in tract homes, and these buyers tend to be the weakest buyers, so they are more prone to financial distress, IMHO.

FWIW, I’m a sucker for older, custom homes, so have to admit my bias. 😉 Seriously, since we’re looking for a custom home ourselves, I can assure you that the competition is fierce, and lots of these buyers have tons of cash.[/quote]
I wonder if it has something to do with generational as well. Personally, I look at that MH home and I see nothing attractive about it. There’s a difference between a beautiful custom home in RSF vs these 1500 sq-ft early-mid century custom homes in my eyes. 1500 sq-ft my be huge 50-90 years ago, but it’s tiny in today’s standard.

[an]

[quote=CA renter]
BG is right about custom vs. tract homes. In general, a custom home will hold it’s value/appreciate more than a tract home, all else being equal.[/quote]
Do you have data behind this? Not trying to pick on you, just want to know if this is your opinion or it is in-fact a reality. I think to have a more apple to apple comparison between custom vs tract, they must be in the same zip code, build around the same year, similar sq-ft for house AND lot. I know this is probably a hard if not impossible exercise, but it help prove your statement “all else being equal”.

[quote=CA renter]The difference between the MH home and the LJ home you’ve linked above is that there are a number of people who seek out older, “historical” custom homes. Just anecdotal, but a lot of these people tend to be DINKS and/or people with a lot of money who like to buy something architecturally unique and aesthetically pleasing.

While newer homes might need less maintenance, work better for families, and be in “better” school districts (the reasons why most people seek out the newer tract homes), there is nothing unique or beautiful about them, IMHO. You get a lot of young families in tract homes, and these buyers tend to be the weakest buyers, so they are more prone to financial distress, IMHO.

FWIW, I’m a sucker for older, custom homes, so have to admit my bias. 😉 Seriously, since we’re looking for a custom home ourselves, I can assure you that the competition is fierce, and lots of these buyers have tons of cash.[/quote]
I wonder if it has something to do with generational as well. Personally, I look at that MH home and I see nothing attractive about it. There’s a difference between a beautiful custom home in RSF vs these 1500 sq-ft early-mid century custom homes in my eyes. 1500 sq-ft my be huge 50-90 years ago, but it’s tiny in today’s standard.

[Author]

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