Point Loma reducing a little

[jpinpb]

[quote=AN]Wow, someone actually paid $944k for a house that was sold for $204k in 1985? This house was sold for $212k in 1985: http://www.sdlookup.com/MLS-100011141-3007_Cadencia_St_Carlsbad_CA_92009 and in 2005, it only got up to $770k. So, whoever bought that house for $944k must be on crack.[/quote]

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.

[pemeliza]

“The second, Pringle Hill listing is striking and the view is great for that area. The buyers who got that one for $650K were lucky.”

I agree, this is one of the best deals I have seen in a while but then again not that much is selling these days. The question is did the seller panic or has the market actually moved down to that level? Honestly I have been over the recent sales in the area and I don’t see anything resembling that deal especially when considering the view. In any market, it is always possible that a deal will happen at a below market price and that may be what happened here. They took $75k below their lowered asking price of $725k shortly after two large price reductions so they were obviously very motivated at the end:

Price Reduced: 08/02/2010 from $829,000 to $725,000
Price Reduced: 07/20/2010 from $899,000 to $829,000

[pemeliza]

“The second, Pringle Hill listing is striking and the view is great for that area. The buyers who got that one for $650K were lucky.”

I agree, this is one of the best deals I have seen in a while but then again not that much is selling these days. The question is did the seller panic or has the market actually moved down to that level? Honestly I have been over the recent sales in the area and I don’t see anything resembling that deal especially when considering the view. In any market, it is always possible that a deal will happen at a below market price and that may be what happened here. They took $75k below their lowered asking price of $725k shortly after two large price reductions so they were obviously very motivated at the end:

Price Reduced: 08/02/2010 from $829,000 to $725,000
Price Reduced: 07/20/2010 from $899,000 to $829,000

[pemeliza]

“The second, Pringle Hill listing is striking and the view is great for that area. The buyers who got that one for $650K were lucky.”

I agree, this is one of the best deals I have seen in a while but then again not that much is selling these days. The question is did the seller panic or has the market actually moved down to that level? Honestly I have been over the recent sales in the area and I don’t see anything resembling that deal especially when considering the view. In any market, it is always possible that a deal will happen at a below market price and that may be what happened here. They took $75k below their lowered asking price of $725k shortly after two large price reductions so they were obviously very motivated at the end:

Price Reduced: 08/02/2010 from $829,000 to $725,000
Price Reduced: 07/20/2010 from $899,000 to $829,000

[pemeliza]

“The second, Pringle Hill listing is striking and the view is great for that area. The buyers who got that one for $650K were lucky.”

I agree, this is one of the best deals I have seen in a while but then again not that much is selling these days. The question is did the seller panic or has the market actually moved down to that level? Honestly I have been over the recent sales in the area and I don’t see anything resembling that deal especially when considering the view. In any market, it is always possible that a deal will happen at a below market price and that may be what happened here. They took $75k below their lowered asking price of $725k shortly after two large price reductions so they were obviously very motivated at the end:

Price Reduced: 08/02/2010 from $829,000 to $725,000
Price Reduced: 07/20/2010 from $899,000 to $829,000

[pemeliza]

“The second, Pringle Hill listing is striking and the view is great for that area. The buyers who got that one for $650K were lucky.”

I agree, this is one of the best deals I have seen in a while but then again not that much is selling these days. The question is did the seller panic or has the market actually moved down to that level? Honestly I have been over the recent sales in the area and I don’t see anything resembling that deal especially when considering the view. In any market, it is always possible that a deal will happen at a below market price and that may be what happened here. They took $75k below their lowered asking price of $725k shortly after two large price reductions so they were obviously very motivated at the end:

Price Reduced: 08/02/2010 from $829,000 to $725,000
Price Reduced: 07/20/2010 from $899,000 to $829,000

[bearishgurl]

[quote=pemeliza]”The second, Pringle Hill listing is striking and the view is great for that area. The buyers who got that one for $650K were lucky.”

I agree, this is one of the best deals I have seen in a while but then again not that much is selling these days. The question is did the seller panic or has the market actually moved down to that level? Honestly I have been over the recent sales in the area and I don’t see anything resembling that deal especially when considering the view. In any market, it is always possible that a deal will happen at a below market price and that may be what happened here. They took $75k below their lowered asking price of $725k shortly after two large price reductions so they were obviously very motivated at the end:

Price Reduced: 08/02/2010 from $829,000 to $725,000
Price Reduced: 07/20/2010 from $899,000 to $829,000[/quote]

The pfl said the house had only had one owner, and it had passed down thru the family at least once. It’s possible it had no mortgage or just a small one to rehab it like the pics show. The seller was able to “meet its target market” because of low/no encumbrances, much like the free-and-clear heir.

A very nice job done on the floor/walls/kitchen etc, with attention paid to detail and preservation. Even the large pocket door in the living area looks like it still works!

This nearly 100 year old property could possibly be eligible for Mills Act property tax treatment (if SD was solvent enough at present to be accepting applications). There’s always that chance in a few years that SD would be taking applications again. Obviously, the previous owner(s), being protected by Prop 13, had no need for Mills Act treatment so didn’t apply.

Very good condition for its age, jpinpb. Thanks for sharing!

[bearishgurl]

[quote=pemeliza]”The second, Pringle Hill listing is striking and the view is great for that area. The buyers who got that one for $650K were lucky.”

I agree, this is one of the best deals I have seen in a while but then again not that much is selling these days. The question is did the seller panic or has the market actually moved down to that level? Honestly I have been over the recent sales in the area and I don’t see anything resembling that deal especially when considering the view. In any market, it is always possible that a deal will happen at a below market price and that may be what happened here. They took $75k below their lowered asking price of $725k shortly after two large price reductions so they were obviously very motivated at the end:

Price Reduced: 08/02/2010 from $829,000 to $725,000
Price Reduced: 07/20/2010 from $899,000 to $829,000[/quote]

The pfl said the house had only had one owner, and it had passed down thru the family at least once. It’s possible it had no mortgage or just a small one to rehab it like the pics show. The seller was able to “meet its target market” because of low/no encumbrances, much like the free-and-clear heir.

A very nice job done on the floor/walls/kitchen etc, with attention paid to detail and preservation. Even the large pocket door in the living area looks like it still works!

This nearly 100 year old property could possibly be eligible for Mills Act property tax treatment (if SD was solvent enough at present to be accepting applications). There’s always that chance in a few years that SD would be taking applications again. Obviously, the previous owner(s), being protected by Prop 13, had no need for Mills Act treatment so didn’t apply.

Very good condition for its age, jpinpb. Thanks for sharing!

[bearishgurl]

[quote=pemeliza]”The second, Pringle Hill listing is striking and the view is great for that area. The buyers who got that one for $650K were lucky.”

I agree, this is one of the best deals I have seen in a while but then again not that much is selling these days. The question is did the seller panic or has the market actually moved down to that level? Honestly I have been over the recent sales in the area and I don’t see anything resembling that deal especially when considering the view. In any market, it is always possible that a deal will happen at a below market price and that may be what happened here. They took $75k below their lowered asking price of $725k shortly after two large price reductions so they were obviously very motivated at the end:

Price Reduced: 08/02/2010 from $829,000 to $725,000
Price Reduced: 07/20/2010 from $899,000 to $829,000[/quote]

The pfl said the house had only had one owner, and it had passed down thru the family at least once. It’s possible it had no mortgage or just a small one to rehab it like the pics show. The seller was able to “meet its target market” because of low/no encumbrances, much like the free-and-clear heir.

A very nice job done on the floor/walls/kitchen etc, with attention paid to detail and preservation. Even the large pocket door in the living area looks like it still works!

This nearly 100 year old property could possibly be eligible for Mills Act property tax treatment (if SD was solvent enough at present to be accepting applications). There’s always that chance in a few years that SD would be taking applications again. Obviously, the previous owner(s), being protected by Prop 13, had no need for Mills Act treatment so didn’t apply.

Very good condition for its age, jpinpb. Thanks for sharing!

[bearishgurl]

[quote=pemeliza]”The second, Pringle Hill listing is striking and the view is great for that area. The buyers who got that one for $650K were lucky.”

I agree, this is one of the best deals I have seen in a while but then again not that much is selling these days. The question is did the seller panic or has the market actually moved down to that level? Honestly I have been over the recent sales in the area and I don’t see anything resembling that deal especially when considering the view. In any market, it is always possible that a deal will happen at a below market price and that may be what happened here. They took $75k below their lowered asking price of $725k shortly after two large price reductions so they were obviously very motivated at the end:

Price Reduced: 08/02/2010 from $829,000 to $725,000
Price Reduced: 07/20/2010 from $899,000 to $829,000[/quote]

The pfl said the house had only had one owner, and it had passed down thru the family at least once. It’s possible it had no mortgage or just a small one to rehab it like the pics show. The seller was able to “meet its target market” because of low/no encumbrances, much like the free-and-clear heir.

A very nice job done on the floor/walls/kitchen etc, with attention paid to detail and preservation. Even the large pocket door in the living area looks like it still works!

This nearly 100 year old property could possibly be eligible for Mills Act property tax treatment (if SD was solvent enough at present to be accepting applications). There’s always that chance in a few years that SD would be taking applications again. Obviously, the previous owner(s), being protected by Prop 13, had no need for Mills Act treatment so didn’t apply.

Very good condition for its age, jpinpb. Thanks for sharing!

[bearishgurl]

[quote=pemeliza]”The second, Pringle Hill listing is striking and the view is great for that area. The buyers who got that one for $650K were lucky.”

I agree, this is one of the best deals I have seen in a while but then again not that much is selling these days. The question is did the seller panic or has the market actually moved down to that level? Honestly I have been over the recent sales in the area and I don’t see anything resembling that deal especially when considering the view. In any market, it is always possible that a deal will happen at a below market price and that may be what happened here. They took $75k below their lowered asking price of $725k shortly after two large price reductions so they were obviously very motivated at the end:

Price Reduced: 08/02/2010 from $829,000 to $725,000
Price Reduced: 07/20/2010 from $899,000 to $829,000[/quote]

The pfl said the house had only had one owner, and it had passed down thru the family at least once. It’s possible it had no mortgage or just a small one to rehab it like the pics show. The seller was able to “meet its target market” because of low/no encumbrances, much like the free-and-clear heir.

A very nice job done on the floor/walls/kitchen etc, with attention paid to detail and preservation. Even the large pocket door in the living area looks like it still works!

This nearly 100 year old property could possibly be eligible for Mills Act property tax treatment (if SD was solvent enough at present to be accepting applications). There’s always that chance in a few years that SD would be taking applications again. Obviously, the previous owner(s), being protected by Prop 13, had no need for Mills Act treatment so didn’t apply.

Very good condition for its age, jpinpb. Thanks for sharing!

[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.

[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.

[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.

[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.

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