Rancho Penasquitos Market

[5yearwaiter]

[quote=SD Realtor]I lost a quarter to myself. The Bryn Glen listing agent called back and they do not have an offer into the lender yet. She said that they reduced the price Friday and had alot of showings so they will be submitting the best and highest offer once they get one in. [/quote]

SD Realtor- Do you believe that this house is really worth of 600K and the sft is only 2033? Is this is short sale or a fresh listing?

[5yearwaiter]

[quote=SD Realtor]I lost a quarter to myself. The Bryn Glen listing agent called back and they do not have an offer into the lender yet. She said that they reduced the price Friday and had alot of showings so they will be submitting the best and highest offer once they get one in. [/quote]

SD Realtor- Do you believe that this house is really worth of 600K and the sft is only 2033? Is this is short sale or a fresh listing?

[5yearwaiter]

[quote=SD Realtor]I lost a quarter to myself. The Bryn Glen listing agent called back and they do not have an offer into the lender yet. She said that they reduced the price Friday and had alot of showings so they will be submitting the best and highest offer once they get one in. [/quote]

SD Realtor- Do you believe that this house is really worth of 600K and the sft is only 2033? Is this is short sale or a fresh listing?

[5yearwaiter]

[quote=SD Realtor]I lost a quarter to myself. The Bryn Glen listing agent called back and they do not have an offer into the lender yet. She said that they reduced the price Friday and had alot of showings so they will be submitting the best and highest offer once they get one in. [/quote]

SD Realtor- Do you believe that this house is really worth of 600K and the sft is only 2033? Is this is short sale or a fresh listing?

[5yearwaiter]

[quote=SD Realtor]I lost a quarter to myself. The Bryn Glen listing agent called back and they do not have an offer into the lender yet. She said that they reduced the price Friday and had alot of showings so they will be submitting the best and highest offer once they get one in. [/quote]

SD Realtor- Do you believe that this house is really worth of 600K and the sft is only 2033? Is this is short sale or a fresh listing?

[an]

[quote=WaitingToExhale]I’ve been watching this market carefully for some time, and inventory has fallen off a cliff in the past few weeks. I thought we’d be at a reasonable price-rent ratio soon, but now I have my doubts.

Let’s see: the median household income for Rancho Penasquitos is $97,000 (according to some website called point2homes; I assume it’s as good as any other census data). DQNews reports the average single-family residence for RP to have sold for $512,000 in March 2009. That’s a ratio of 5.3.

Hmm, that sounds like it’s right in line with San Diego historic levels, I suppose. Should I start looking?[/quote]
Where did you get the historical ratio for San Diego? Mira Mesa is currently at 4.2.

[an]

[quote=WaitingToExhale]I’ve been watching this market carefully for some time, and inventory has fallen off a cliff in the past few weeks. I thought we’d be at a reasonable price-rent ratio soon, but now I have my doubts.

Let’s see: the median household income for Rancho Penasquitos is $97,000 (according to some website called point2homes; I assume it’s as good as any other census data). DQNews reports the average single-family residence for RP to have sold for $512,000 in March 2009. That’s a ratio of 5.3.

Hmm, that sounds like it’s right in line with San Diego historic levels, I suppose. Should I start looking?[/quote]
Where did you get the historical ratio for San Diego? Mira Mesa is currently at 4.2.

[an]

[quote=WaitingToExhale]I’ve been watching this market carefully for some time, and inventory has fallen off a cliff in the past few weeks. I thought we’d be at a reasonable price-rent ratio soon, but now I have my doubts.

Let’s see: the median household income for Rancho Penasquitos is $97,000 (according to some website called point2homes; I assume it’s as good as any other census data). DQNews reports the average single-family residence for RP to have sold for $512,000 in March 2009. That’s a ratio of 5.3.

Hmm, that sounds like it’s right in line with San Diego historic levels, I suppose. Should I start looking?[/quote]
Where did you get the historical ratio for San Diego? Mira Mesa is currently at 4.2.

[an]

[quote=WaitingToExhale]I’ve been watching this market carefully for some time, and inventory has fallen off a cliff in the past few weeks. I thought we’d be at a reasonable price-rent ratio soon, but now I have my doubts.

Let’s see: the median household income for Rancho Penasquitos is $97,000 (according to some website called point2homes; I assume it’s as good as any other census data). DQNews reports the average single-family residence for RP to have sold for $512,000 in March 2009. That’s a ratio of 5.3.

Hmm, that sounds like it’s right in line with San Diego historic levels, I suppose. Should I start looking?[/quote]
Where did you get the historical ratio for San Diego? Mira Mesa is currently at 4.2.

[an]

[quote=WaitingToExhale]I’ve been watching this market carefully for some time, and inventory has fallen off a cliff in the past few weeks. I thought we’d be at a reasonable price-rent ratio soon, but now I have my doubts.

Let’s see: the median household income for Rancho Penasquitos is $97,000 (according to some website called point2homes; I assume it’s as good as any other census data). DQNews reports the average single-family residence for RP to have sold for $512,000 in March 2009. That’s a ratio of 5.3.

Hmm, that sounds like it’s right in line with San Diego historic levels, I suppose. Should I start looking?[/quote]
Where did you get the historical ratio for San Diego? Mira Mesa is currently at 4.2.

[Eugene]

[quote=WaitingToExhale]I’ve been watching this market carefully for some time, and inventory has fallen off a cliff in the past few weeks. I thought we’d be at a reasonable price-rent ratio soon, but now I have my doubts.

Let’s see: the median household income for Rancho Penasquitos is $97,000 (according to some website called point2homes; I assume it’s as good as any other census data). DQNews reports the average single-family residence for RP to have sold for $512,000 in March 2009. That’s a ratio of 5.3.

Hmm, that sounds like it’s right in line with San Diego historic levels, I suppose. Should I start looking?[/quote]

Median household income is always biased for these purposes, because of two factors; 1) retirees with paid-off houses; 2) apartments and condos, which are traditionally occupied by folks with below-median incomes.

There aren’t many retirees in PQ, but there are many apartments and condos, especially to the east along Carmel Mountain Road. West end is a bit wealthier, closer to 130K.

[Eugene]

[quote=WaitingToExhale]I’ve been watching this market carefully for some time, and inventory has fallen off a cliff in the past few weeks. I thought we’d be at a reasonable price-rent ratio soon, but now I have my doubts.

Let’s see: the median household income for Rancho Penasquitos is $97,000 (according to some website called point2homes; I assume it’s as good as any other census data). DQNews reports the average single-family residence for RP to have sold for $512,000 in March 2009. That’s a ratio of 5.3.

Hmm, that sounds like it’s right in line with San Diego historic levels, I suppose. Should I start looking?[/quote]

Median household income is always biased for these purposes, because of two factors; 1) retirees with paid-off houses; 2) apartments and condos, which are traditionally occupied by folks with below-median incomes.

There aren’t many retirees in PQ, but there are many apartments and condos, especially to the east along Carmel Mountain Road. West end is a bit wealthier, closer to 130K.

[Eugene]

[quote=WaitingToExhale]I’ve been watching this market carefully for some time, and inventory has fallen off a cliff in the past few weeks. I thought we’d be at a reasonable price-rent ratio soon, but now I have my doubts.

Let’s see: the median household income for Rancho Penasquitos is $97,000 (according to some website called point2homes; I assume it’s as good as any other census data). DQNews reports the average single-family residence for RP to have sold for $512,000 in March 2009. That’s a ratio of 5.3.

Hmm, that sounds like it’s right in line with San Diego historic levels, I suppose. Should I start looking?[/quote]

Median household income is always biased for these purposes, because of two factors; 1) retirees with paid-off houses; 2) apartments and condos, which are traditionally occupied by folks with below-median incomes.

There aren’t many retirees in PQ, but there are many apartments and condos, especially to the east along Carmel Mountain Road. West end is a bit wealthier, closer to 130K.

[Eugene]

[quote=WaitingToExhale]I’ve been watching this market carefully for some time, and inventory has fallen off a cliff in the past few weeks. I thought we’d be at a reasonable price-rent ratio soon, but now I have my doubts.

Let’s see: the median household income for Rancho Penasquitos is $97,000 (according to some website called point2homes; I assume it’s as good as any other census data). DQNews reports the average single-family residence for RP to have sold for $512,000 in March 2009. That’s a ratio of 5.3.

Hmm, that sounds like it’s right in line with San Diego historic levels, I suppose. Should I start looking?[/quote]

Median household income is always biased for these purposes, because of two factors; 1) retirees with paid-off houses; 2) apartments and condos, which are traditionally occupied by folks with below-median incomes.

There aren’t many retirees in PQ, but there are many apartments and condos, especially to the east along Carmel Mountain Road. West end is a bit wealthier, closer to 130K.

[Eugene]

[quote=WaitingToExhale]I’ve been watching this market carefully for some time, and inventory has fallen off a cliff in the past few weeks. I thought we’d be at a reasonable price-rent ratio soon, but now I have my doubts.

Let’s see: the median household income for Rancho Penasquitos is $97,000 (according to some website called point2homes; I assume it’s as good as any other census data). DQNews reports the average single-family residence for RP to have sold for $512,000 in March 2009. That’s a ratio of 5.3.

Hmm, that sounds like it’s right in line with San Diego historic levels, I suppose. Should I start looking?[/quote]

Median household income is always biased for these purposes, because of two factors; 1) retirees with paid-off houses; 2) apartments and condos, which are traditionally occupied by folks with below-median incomes.

There aren’t many retirees in PQ, but there are many apartments and condos, especially to the east along Carmel Mountain Road. West end is a bit wealthier, closer to 130K.

[Author]

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