Point Loma reducing a little

[jpinpb]

[quote=CA renter][quote=jstoesz]Thankfully, I think you are right!

Everyone, buy track homes, they are awesome. Galley kitchens and wood paneling suck. Only termites and whores like custom homes. Did I mention the amphetamines (but I digress)![/quote]

LOL! 🙂

Yes, what was I thinking?!? I plum forgot about the whores and termites! And the meth! Oh man, every one of those old, custom homes was a meth lab at one point or another.

Everyone, just ignore what I’ve said about those ugly, custom, termite-infested homes, and buy tract homes instead. They are MUCH more desirable! ;)[/quote]

X3 – No one wants an old house. They are haunted! Get out!! Go buy a new house. {he, he}

Man, I’m a sucker for old house. I mean drool. I can only blame it on being from the East Coast, missing it and reminding me of home. Yet whenever my family comes out here, they LOVE the spanish styles, even track homes. To them, that’s California!

AN – The only thing I can figure is lots of doctors want to be in MH and will spend extra to be there. But frankly, that doesn’t really account for the gap disparity still. All of the things MH has relative to LJ or MM has not changed. All the things that zzz mentioned are the same things that appealed to certain people to live in MH and draw the premium it has. It still does not account for why the gap is greater today. I don’t know what has changed and that’s enough to make me think eventually it will capitulate slowly over time.

[zzz]

[quote=pemeliza] http://www.sdlookup.com/MLS-100063461-18…
1588 sq-ft on 4100 sq-ft lot w/ no view.

Finally, that listing in MH is priced too high for today’s market.[/quote]

pemeliza/AN, did you guys notice the MH listing is Mills Act? Typically the properties I’ve seen with Mills Act are priced higher as those property tax savings are great

[zzz]

[quote=pemeliza] http://www.sdlookup.com/MLS-100063461-18…
1588 sq-ft on 4100 sq-ft lot w/ no view.

Finally, that listing in MH is priced too high for today’s market.[/quote]

pemeliza/AN, did you guys notice the MH listing is Mills Act? Typically the properties I’ve seen with Mills Act are priced higher as those property tax savings are great

[zzz]

[quote=pemeliza] http://www.sdlookup.com/MLS-100063461-18…
1588 sq-ft on 4100 sq-ft lot w/ no view.

Finally, that listing in MH is priced too high for today’s market.[/quote]

pemeliza/AN, did you guys notice the MH listing is Mills Act? Typically the properties I’ve seen with Mills Act are priced higher as those property tax savings are great

[zzz]

[quote=pemeliza] http://www.sdlookup.com/MLS-100063461-18…
1588 sq-ft on 4100 sq-ft lot w/ no view.

Finally, that listing in MH is priced too high for today’s market.[/quote]

pemeliza/AN, did you guys notice the MH listing is Mills Act? Typically the properties I’ve seen with Mills Act are priced higher as those property tax savings are great

[zzz]

[quote=pemeliza] http://www.sdlookup.com/MLS-100063461-18…
1588 sq-ft on 4100 sq-ft lot w/ no view.

Finally, that listing in MH is priced too high for today’s market.[/quote]

pemeliza/AN, did you guys notice the MH listing is Mills Act? Typically the properties I’ve seen with Mills Act are priced higher as those property tax savings are great

[jpinpb]

[quote=zzz][quote=pemeliza] http://www.sdlookup.com/MLS-100063461-18…
1588 sq-ft on 4100 sq-ft lot w/ no view.

Finally, that listing in MH is priced too high for today’s market.[/quote]

pemeliza/AN, did you guys notice the MH listing is Mills Act? Typically the properties I’ve seen with Mills Act are priced higher as those property tax savings are great[/quote]

Do you find it ironic that the Mills Act homes cost more? It kinda defeats the purpose, IMO. So you are saving money on taxes, but you have to pay extra for the house, an old house. I just like old houses and don’t care if it’s Mills Act or not. I like the charm, design, character of old houses. Paying extra just b/c it is Mills, to me, doesn’t make sense. It cancels out. You pay more for the house to save on taxes. So in the end, you pay the same amount. I mean, if you’re paying cash, sure. What percentage of people can pay cash?

[jpinpb]

[quote=zzz][quote=pemeliza] http://www.sdlookup.com/MLS-100063461-18…
1588 sq-ft on 4100 sq-ft lot w/ no view.

Finally, that listing in MH is priced too high for today’s market.[/quote]

pemeliza/AN, did you guys notice the MH listing is Mills Act? Typically the properties I’ve seen with Mills Act are priced higher as those property tax savings are great[/quote]

Do you find it ironic that the Mills Act homes cost more? It kinda defeats the purpose, IMO. So you are saving money on taxes, but you have to pay extra for the house, an old house. I just like old houses and don’t care if it’s Mills Act or not. I like the charm, design, character of old houses. Paying extra just b/c it is Mills, to me, doesn’t make sense. It cancels out. You pay more for the house to save on taxes. So in the end, you pay the same amount. I mean, if you’re paying cash, sure. What percentage of people can pay cash?

[jpinpb]

[quote=zzz][quote=pemeliza] http://www.sdlookup.com/MLS-100063461-18…
1588 sq-ft on 4100 sq-ft lot w/ no view.

Finally, that listing in MH is priced too high for today’s market.[/quote]

pemeliza/AN, did you guys notice the MH listing is Mills Act? Typically the properties I’ve seen with Mills Act are priced higher as those property tax savings are great[/quote]

Do you find it ironic that the Mills Act homes cost more? It kinda defeats the purpose, IMO. So you are saving money on taxes, but you have to pay extra for the house, an old house. I just like old houses and don’t care if it’s Mills Act or not. I like the charm, design, character of old houses. Paying extra just b/c it is Mills, to me, doesn’t make sense. It cancels out. You pay more for the house to save on taxes. So in the end, you pay the same amount. I mean, if you’re paying cash, sure. What percentage of people can pay cash?

[jpinpb]

[quote=zzz][quote=pemeliza] http://www.sdlookup.com/MLS-100063461-18…
1588 sq-ft on 4100 sq-ft lot w/ no view.

Finally, that listing in MH is priced too high for today’s market.[/quote]

pemeliza/AN, did you guys notice the MH listing is Mills Act? Typically the properties I’ve seen with Mills Act are priced higher as those property tax savings are great[/quote]

Do you find it ironic that the Mills Act homes cost more? It kinda defeats the purpose, IMO. So you are saving money on taxes, but you have to pay extra for the house, an old house. I just like old houses and don’t care if it’s Mills Act or not. I like the charm, design, character of old houses. Paying extra just b/c it is Mills, to me, doesn’t make sense. It cancels out. You pay more for the house to save on taxes. So in the end, you pay the same amount. I mean, if you’re paying cash, sure. What percentage of people can pay cash?

[jpinpb]

[quote=zzz][quote=pemeliza] http://www.sdlookup.com/MLS-100063461-18…
1588 sq-ft on 4100 sq-ft lot w/ no view.

Finally, that listing in MH is priced too high for today’s market.[/quote]

pemeliza/AN, did you guys notice the MH listing is Mills Act? Typically the properties I’ve seen with Mills Act are priced higher as those property tax savings are great[/quote]

Do you find it ironic that the Mills Act homes cost more? It kinda defeats the purpose, IMO. So you are saving money on taxes, but you have to pay extra for the house, an old house. I just like old houses and don’t care if it’s Mills Act or not. I like the charm, design, character of old houses. Paying extra just b/c it is Mills, to me, doesn’t make sense. It cancels out. You pay more for the house to save on taxes. So in the end, you pay the same amount. I mean, if you’re paying cash, sure. What percentage of people can pay cash?

[pemeliza]

zzz, I missed that thanks for pointing it out. With the mills act in place the price is probably appropriate.

“So in the end, you pay the same amount. I mean, if you’re paying cash, sure. What percentage of people can pay cash?”

That all depends on how long you intend to keep the house … also when you go to sell the mills act is still in place which will result in lower taxes to the buyer so you will essentially get the additional cost paid back. So, it seems to be like an interest bearing savings account. Another thing is that properties with the mills act in place tend to be in very good condition.

AN, here is an example in MH that shows that prices really havn’t gone up that much from 1986 and appreciation rates have varied wildly even within MH:

http://www.sdlookup.com/MLS-100055110-2484_Pine_St_San_Diego_CA_92103

10/27/2010 $965,000 23y 11m 84% 3%
11/10/1986 $524,900 n/a – –

I paid 1.66x the 1988 price on a house I purchased in MH last year which is probably in the same ballbark as this one on Pine which is 1.84x the 1986 price. If a house appreciated much more than 2x the 1986 price then I would say that the house likely had substantial improvements made.

As a general rule, the lower cost homes in MH have appreciated on a percentage basis much more rapidly than the higher priced homes since the 1980’s. This fact is probably largely due to the huge decline in interest rates since then and the fact that people buy on payment.

edit: nice post zzz

[pemeliza]

zzz, I missed that thanks for pointing it out. With the mills act in place the price is probably appropriate.

“So in the end, you pay the same amount. I mean, if you’re paying cash, sure. What percentage of people can pay cash?”

That all depends on how long you intend to keep the house … also when you go to sell the mills act is still in place which will result in lower taxes to the buyer so you will essentially get the additional cost paid back. So, it seems to be like an interest bearing savings account. Another thing is that properties with the mills act in place tend to be in very good condition.

AN, here is an example in MH that shows that prices really havn’t gone up that much from 1986 and appreciation rates have varied wildly even within MH:

http://www.sdlookup.com/MLS-100055110-2484_Pine_St_San_Diego_CA_92103

10/27/2010 $965,000 23y 11m 84% 3%
11/10/1986 $524,900 n/a – –

I paid 1.66x the 1988 price on a house I purchased in MH last year which is probably in the same ballbark as this one on Pine which is 1.84x the 1986 price. If a house appreciated much more than 2x the 1986 price then I would say that the house likely had substantial improvements made.

As a general rule, the lower cost homes in MH have appreciated on a percentage basis much more rapidly than the higher priced homes since the 1980’s. This fact is probably largely due to the huge decline in interest rates since then and the fact that people buy on payment.

edit: nice post zzz

[pemeliza]

zzz, I missed that thanks for pointing it out. With the mills act in place the price is probably appropriate.

“So in the end, you pay the same amount. I mean, if you’re paying cash, sure. What percentage of people can pay cash?”

That all depends on how long you intend to keep the house … also when you go to sell the mills act is still in place which will result in lower taxes to the buyer so you will essentially get the additional cost paid back. So, it seems to be like an interest bearing savings account. Another thing is that properties with the mills act in place tend to be in very good condition.

AN, here is an example in MH that shows that prices really havn’t gone up that much from 1986 and appreciation rates have varied wildly even within MH:

http://www.sdlookup.com/MLS-100055110-2484_Pine_St_San_Diego_CA_92103

10/27/2010 $965,000 23y 11m 84% 3%
11/10/1986 $524,900 n/a – –

I paid 1.66x the 1988 price on a house I purchased in MH last year which is probably in the same ballbark as this one on Pine which is 1.84x the 1986 price. If a house appreciated much more than 2x the 1986 price then I would say that the house likely had substantial improvements made.

As a general rule, the lower cost homes in MH have appreciated on a percentage basis much more rapidly than the higher priced homes since the 1980’s. This fact is probably largely due to the huge decline in interest rates since then and the fact that people buy on payment.

edit: nice post zzz

[pemeliza]

zzz, I missed that thanks for pointing it out. With the mills act in place the price is probably appropriate.

“So in the end, you pay the same amount. I mean, if you’re paying cash, sure. What percentage of people can pay cash?”

That all depends on how long you intend to keep the house … also when you go to sell the mills act is still in place which will result in lower taxes to the buyer so you will essentially get the additional cost paid back. So, it seems to be like an interest bearing savings account. Another thing is that properties with the mills act in place tend to be in very good condition.

AN, here is an example in MH that shows that prices really havn’t gone up that much from 1986 and appreciation rates have varied wildly even within MH:

http://www.sdlookup.com/MLS-100055110-2484_Pine_St_San_Diego_CA_92103

10/27/2010 $965,000 23y 11m 84% 3%
11/10/1986 $524,900 n/a – –

I paid 1.66x the 1988 price on a house I purchased in MH last year which is probably in the same ballbark as this one on Pine which is 1.84x the 1986 price. If a house appreciated much more than 2x the 1986 price then I would say that the house likely had substantial improvements made.

As a general rule, the lower cost homes in MH have appreciated on a percentage basis much more rapidly than the higher priced homes since the 1980’s. This fact is probably largely due to the huge decline in interest rates since then and the fact that people buy on payment.

edit: nice post zzz

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