pt loma, del cerro, mt melix

[SD Realtor]

flyer I do… Lots of old money in PL. Also alot of people that got in at Liberty Station got smoking deals.. Liberty has come down at a slow pace. Unfortunately yeah I think PL is going to crawl down slowly.

SD Realtor

[betting on fall]

I’m following the Del Cerro market closely and to a lesser extent Mt. Helix.

Here is an interesting stat for Del Cerro that I suspect is mirrored in the other zips:

Closings at over $700,000 between 1/01/2007-10/01/2007- 33
Closings at over $700,000 from 10/01/2007 to today- 3!!

(thanks to my mother in law realtor for the info from the mls)

So the high end market has basically shut down. Why? I think its because buyers have changed and sellers haven’t. The folks left buying are like me- with plenty of time, willing to wait sellers out, no need to buy today. Of course, sellers think they can just wait out the current crop of buyers and someone will come along and pay 2005 prices next week. I think the spring will be a big reality check for sellers.

[betting on fall]

I’m following the Del Cerro market closely and to a lesser extent Mt. Helix.

Here is an interesting stat for Del Cerro that I suspect is mirrored in the other zips:

Closings at over $700,000 between 1/01/2007-10/01/2007- 33
Closings at over $700,000 from 10/01/2007 to today- 3!!

(thanks to my mother in law realtor for the info from the mls)

So the high end market has basically shut down. Why? I think its because buyers have changed and sellers haven’t. The folks left buying are like me- with plenty of time, willing to wait sellers out, no need to buy today. Of course, sellers think they can just wait out the current crop of buyers and someone will come along and pay 2005 prices next week. I think the spring will be a big reality check for sellers.

[betting on fall]

I’m following the Del Cerro market closely and to a lesser extent Mt. Helix.

Here is an interesting stat for Del Cerro that I suspect is mirrored in the other zips:

Closings at over $700,000 between 1/01/2007-10/01/2007- 33
Closings at over $700,000 from 10/01/2007 to today- 3!!

(thanks to my mother in law realtor for the info from the mls)

So the high end market has basically shut down. Why? I think its because buyers have changed and sellers haven’t. The folks left buying are like me- with plenty of time, willing to wait sellers out, no need to buy today. Of course, sellers think they can just wait out the current crop of buyers and someone will come along and pay 2005 prices next week. I think the spring will be a big reality check for sellers.

[betting on fall]

I’m following the Del Cerro market closely and to a lesser extent Mt. Helix.

Here is an interesting stat for Del Cerro that I suspect is mirrored in the other zips:

Closings at over $700,000 between 1/01/2007-10/01/2007- 33
Closings at over $700,000 from 10/01/2007 to today- 3!!

(thanks to my mother in law realtor for the info from the mls)

So the high end market has basically shut down. Why? I think its because buyers have changed and sellers haven’t. The folks left buying are like me- with plenty of time, willing to wait sellers out, no need to buy today. Of course, sellers think they can just wait out the current crop of buyers and someone will come along and pay 2005 prices next week. I think the spring will be a big reality check for sellers.

[betting on fall]

I’m following the Del Cerro market closely and to a lesser extent Mt. Helix.

Here is an interesting stat for Del Cerro that I suspect is mirrored in the other zips:

Closings at over $700,000 between 1/01/2007-10/01/2007- 33
Closings at over $700,000 from 10/01/2007 to today- 3!!

(thanks to my mother in law realtor for the info from the mls)

So the high end market has basically shut down. Why? I think its because buyers have changed and sellers haven’t. The folks left buying are like me- with plenty of time, willing to wait sellers out, no need to buy today. Of course, sellers think they can just wait out the current crop of buyers and someone will come along and pay 2005 prices next week. I think the spring will be a big reality check for sellers.

[SD Realtor]

I am not saying it is not slow in Del Cerro but I am not sure I would say it is shutting down. Your selections of closings from October to February is a good choice of the seasonal worst time in real estate in any region.

While there were only 3 closings over 700k since 10/1/07 there are currently 7 pendings for list prices over 700k. One is at 709k so it may close at less then 700k.

Again, I am not trying to skew your data. I am just trying to show ALL of the data. There is not any argument at all that most buyers are indeed more selective and patient.

SD Realtor

[SD Realtor]

I am not saying it is not slow in Del Cerro but I am not sure I would say it is shutting down. Your selections of closings from October to February is a good choice of the seasonal worst time in real estate in any region.

While there were only 3 closings over 700k since 10/1/07 there are currently 7 pendings for list prices over 700k. One is at 709k so it may close at less then 700k.

Again, I am not trying to skew your data. I am just trying to show ALL of the data. There is not any argument at all that most buyers are indeed more selective and patient.

SD Realtor

[SD Realtor]

I am not saying it is not slow in Del Cerro but I am not sure I would say it is shutting down. Your selections of closings from October to February is a good choice of the seasonal worst time in real estate in any region.

While there were only 3 closings over 700k since 10/1/07 there are currently 7 pendings for list prices over 700k. One is at 709k so it may close at less then 700k.

Again, I am not trying to skew your data. I am just trying to show ALL of the data. There is not any argument at all that most buyers are indeed more selective and patient.

SD Realtor

[SD Realtor]

I am not saying it is not slow in Del Cerro but I am not sure I would say it is shutting down. Your selections of closings from October to February is a good choice of the seasonal worst time in real estate in any region.

While there were only 3 closings over 700k since 10/1/07 there are currently 7 pendings for list prices over 700k. One is at 709k so it may close at less then 700k.

Again, I am not trying to skew your data. I am just trying to show ALL of the data. There is not any argument at all that most buyers are indeed more selective and patient.

SD Realtor

[SD Realtor]

I am not saying it is not slow in Del Cerro but I am not sure I would say it is shutting down. Your selections of closings from October to February is a good choice of the seasonal worst time in real estate in any region.

While there were only 3 closings over 700k since 10/1/07 there are currently 7 pendings for list prices over 700k. One is at 709k so it may close at less then 700k.

Again, I am not trying to skew your data. I am just trying to show ALL of the data. There is not any argument at all that most buyers are indeed more selective and patient.

SD Realtor

[macmichael]

First; make sure you read the other thread on Del Cerro as it gives another perspective of the area.

Second; Del Cerro contains a wide variety depending upon where you are; the thread above has a focus on the top of the hill; you would need to specify where you are looking.

Third; staying with the top of the hill – currently mostly old stale inventory and in some cases terribly overpriced. What has been priced reasonably for its condition is in pending or sold and moves fairly quickly.

Fourth; most houses there built in late 60’s and early to mid 70’s ( except East side of hill – newer ). This means generally they need renovation of a substantial sort and many buyers in that price range don’t want the hassle or have the time and choose CV or such area North. Conversely creates some opportunities.

Fifth; like PL, MH, Ken, Del Cerro is pretty traditional neighborhood with lots of people been there for years and years, know it is a good place to raise a family and so on. So a significant percentage of the houses that come up are either estates or where people are down sizing.

Sixth; if you review carefully purchases 05 – early / mid 07 there were some stupid overpays, but aside from that this area was very stable pricewise .

[macmichael]

First; make sure you read the other thread on Del Cerro as it gives another perspective of the area.

Second; Del Cerro contains a wide variety depending upon where you are; the thread above has a focus on the top of the hill; you would need to specify where you are looking.

Third; staying with the top of the hill – currently mostly old stale inventory and in some cases terribly overpriced. What has been priced reasonably for its condition is in pending or sold and moves fairly quickly.

Fourth; most houses there built in late 60’s and early to mid 70’s ( except East side of hill – newer ). This means generally they need renovation of a substantial sort and many buyers in that price range don’t want the hassle or have the time and choose CV or such area North. Conversely creates some opportunities.

Fifth; like PL, MH, Ken, Del Cerro is pretty traditional neighborhood with lots of people been there for years and years, know it is a good place to raise a family and so on. So a significant percentage of the houses that come up are either estates or where people are down sizing.

Sixth; if you review carefully purchases 05 – early / mid 07 there were some stupid overpays, but aside from that this area was very stable pricewise .

[macmichael]

First; make sure you read the other thread on Del Cerro as it gives another perspective of the area.

Second; Del Cerro contains a wide variety depending upon where you are; the thread above has a focus on the top of the hill; you would need to specify where you are looking.

Third; staying with the top of the hill – currently mostly old stale inventory and in some cases terribly overpriced. What has been priced reasonably for its condition is in pending or sold and moves fairly quickly.

Fourth; most houses there built in late 60’s and early to mid 70’s ( except East side of hill – newer ). This means generally they need renovation of a substantial sort and many buyers in that price range don’t want the hassle or have the time and choose CV or such area North. Conversely creates some opportunities.

Fifth; like PL, MH, Ken, Del Cerro is pretty traditional neighborhood with lots of people been there for years and years, know it is a good place to raise a family and so on. So a significant percentage of the houses that come up are either estates or where people are down sizing.

Sixth; if you review carefully purchases 05 – early / mid 07 there were some stupid overpays, but aside from that this area was very stable pricewise .

[macmichael]

First; make sure you read the other thread on Del Cerro as it gives another perspective of the area.

Second; Del Cerro contains a wide variety depending upon where you are; the thread above has a focus on the top of the hill; you would need to specify where you are looking.

Third; staying with the top of the hill – currently mostly old stale inventory and in some cases terribly overpriced. What has been priced reasonably for its condition is in pending or sold and moves fairly quickly.

Fourth; most houses there built in late 60’s and early to mid 70’s ( except East side of hill – newer ). This means generally they need renovation of a substantial sort and many buyers in that price range don’t want the hassle or have the time and choose CV or such area North. Conversely creates some opportunities.

Fifth; like PL, MH, Ken, Del Cerro is pretty traditional neighborhood with lots of people been there for years and years, know it is a good place to raise a family and so on. So a significant percentage of the houses that come up are either estates or where people are down sizing.

Sixth; if you review carefully purchases 05 – early / mid 07 there were some stupid overpays, but aside from that this area was very stable pricewise .

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