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FoamFinger1.
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August 17, 2007 at 3:33 PM #77338August 17, 2007 at 3:58 PM #77213
waterboy
ParticipantI agree that the real world price is much closer to the $550k. I’ve lived in La Jolla & PB the last 5 years and still am not sure how most recent purchasers are affording things. (Well I guess we are finding out they can’t and that is why we are seeing increase in REO)
Before this speculative run the property would have been around $500k in 2001 or 2002. Whether it is $500k back in 2002 or $500k today, how many can actually comfortable afford a Conv. 30yr mortgage of $500k….not many.
August 17, 2007 at 3:58 PM #77334waterboy
ParticipantI agree that the real world price is much closer to the $550k. I’ve lived in La Jolla & PB the last 5 years and still am not sure how most recent purchasers are affording things. (Well I guess we are finding out they can’t and that is why we are seeing increase in REO)
Before this speculative run the property would have been around $500k in 2001 or 2002. Whether it is $500k back in 2002 or $500k today, how many can actually comfortable afford a Conv. 30yr mortgage of $500k….not many.
August 17, 2007 at 3:58 PM #77360waterboy
ParticipantI agree that the real world price is much closer to the $550k. I’ve lived in La Jolla & PB the last 5 years and still am not sure how most recent purchasers are affording things. (Well I guess we are finding out they can’t and that is why we are seeing increase in REO)
Before this speculative run the property would have been around $500k in 2001 or 2002. Whether it is $500k back in 2002 or $500k today, how many can actually comfortable afford a Conv. 30yr mortgage of $500k….not many.
August 20, 2007 at 10:36 AM #78472ibjames
Participantyou mention a sucker paying 900 for that. I can imagine a lot of suckers waiting in line for that property in PB. That’s why I don’t think the prices will fall much there.
Not until those suckers cannot get loans at least.
August 20, 2007 at 10:36 AM #78449ibjames
Participantyou mention a sucker paying 900 for that. I can imagine a lot of suckers waiting in line for that property in PB. That’s why I don’t think the prices will fall much there.
Not until those suckers cannot get loans at least.
August 20, 2007 at 10:36 AM #78324ibjames
Participantyou mention a sucker paying 900 for that. I can imagine a lot of suckers waiting in line for that property in PB. That’s why I don’t think the prices will fall much there.
Not until those suckers cannot get loans at least.
August 20, 2007 at 11:33 AM #78351waterboy
Participantibjames
You are right about a lot of suckers in the PB market.
Just a few weeks ago someone closed on 1076 Beryl for $740k. It was a complete dump without a garage on a small lot.
August 20, 2007 at 11:33 AM #78477waterboy
Participantibjames
You are right about a lot of suckers in the PB market.
Just a few weeks ago someone closed on 1076 Beryl for $740k. It was a complete dump without a garage on a small lot.
August 20, 2007 at 11:33 AM #78499waterboy
Participantibjames
You are right about a lot of suckers in the PB market.
Just a few weeks ago someone closed on 1076 Beryl for $740k. It was a complete dump without a garage on a small lot.
August 20, 2007 at 11:39 AM #78360ibjames
Participantthat’s what makes it tough for me, a person that would like to buy here, because the line seems long
August 20, 2007 at 11:39 AM #78486ibjames
Participantthat’s what makes it tough for me, a person that would like to buy here, because the line seems long
August 20, 2007 at 11:39 AM #78508ibjames
Participantthat’s what makes it tough for me, a person that would like to buy here, because the line seems long
August 20, 2007 at 11:54 AM #78369SHILOH
ParticipantHere is the prop description:
2 beautifully remodeled homes on an oversized (7250 sf) lot in North Pacific Beach, a few blocks from the Beach, Tourmaline Surf Park, and BIRDROCK ELEMENTARY SCHOOL! Both homes have their own garage plus 2 parking spaces, professionally landscaped (tropical) PRIVATE yards with timed sprinklers, and a gas fireplace. Front home (860) is 1635 sf, 3 bedroom, 2 bath, with huge family room (great room)and large attic storage area. Granite Counters, Natural Cherry cabinets, gorgeous wood floors in main living areas, Travertine bathrooms. Top shelf, major remodel! Currently rented for $3800 per month. Back house (862) is a two story, 1232 sf chalet with 2 bedrooms, 2 baths plus a large loftThis is definitely worth more than $550K
August 20, 2007 at 11:54 AM #78495SHILOH
ParticipantHere is the prop description:
2 beautifully remodeled homes on an oversized (7250 sf) lot in North Pacific Beach, a few blocks from the Beach, Tourmaline Surf Park, and BIRDROCK ELEMENTARY SCHOOL! Both homes have their own garage plus 2 parking spaces, professionally landscaped (tropical) PRIVATE yards with timed sprinklers, and a gas fireplace. Front home (860) is 1635 sf, 3 bedroom, 2 bath, with huge family room (great room)and large attic storage area. Granite Counters, Natural Cherry cabinets, gorgeous wood floors in main living areas, Travertine bathrooms. Top shelf, major remodel! Currently rented for $3800 per month. Back house (862) is a two story, 1232 sf chalet with 2 bedrooms, 2 baths plus a large loftThis is definitely worth more than $550K
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