waiting to buy–what is a target price per sq ft?

[sdnerd]

You are going to get a wide range of answers on this site. You’ll have some who believe you’ll be able to buy at $200,000 and you’ll have some who believe prices will hold, and even the occasional who think they’ll go up (albeit rare).

Nobody knows.

Recession, bailout, interest rates, and a slew of other variables.

What data there is, and from signs from other distressed areas where prices are falling would point to a price decrease in Mission Hills as well. But nobody knows by how much, or how soon.

Your best bet is to just watch the area, keep track of listings, and see what happens.

Personally, I would agree it’s highly doubtful prices will go back to 1999 levels there.

Based on 1999 prices, with annual 4% appreciation would price it roughly $427,000 today. Do some calculations to see what the Buy vs. Rent numbers would be, how much you are paying for rent, and how much personal interest you have in a particular house – and make your decision from there.

[Aecetia]

Associated Press
Home Prices Plunge Across California
By ALEX VEIGA 03.13.08, 1:39 PM ET

http://www.forbes.com/feeds/ap/2008/03/13/ap4769646.html

Keep waiting. As loans reset, etc. there could be more price depreciation in the area you like. I have seen a lot of price downturn in the area I am watching in the last six months and I have no reason to think it is going anywhere but down. The CA economy, jobs, etc. are contributing to the downturn and I do not think it will recover for the next couple of years. It might level off, but the long time owners who have not yet figured out that they just missed the boat will eventually wise up. When they do, there will be more houses available even in areas that people erroneously think are immune from the down turn. Watch and wait.

[Aecetia]

Associated Press
Home Prices Plunge Across California
By ALEX VEIGA 03.13.08, 1:39 PM ET

http://www.forbes.com/feeds/ap/2008/03/13/ap4769646.html

Keep waiting. As loans reset, etc. there could be more price depreciation in the area you like. I have seen a lot of price downturn in the area I am watching in the last six months and I have no reason to think it is going anywhere but down. The CA economy, jobs, etc. are contributing to the downturn and I do not think it will recover for the next couple of years. It might level off, but the long time owners who have not yet figured out that they just missed the boat will eventually wise up. When they do, there will be more houses available even in areas that people erroneously think are immune from the down turn. Watch and wait.

[Aecetia]

Associated Press
Home Prices Plunge Across California
By ALEX VEIGA 03.13.08, 1:39 PM ET

http://www.forbes.com/feeds/ap/2008/03/13/ap4769646.html

Keep waiting. As loans reset, etc. there could be more price depreciation in the area you like. I have seen a lot of price downturn in the area I am watching in the last six months and I have no reason to think it is going anywhere but down. The CA economy, jobs, etc. are contributing to the downturn and I do not think it will recover for the next couple of years. It might level off, but the long time owners who have not yet figured out that they just missed the boat will eventually wise up. When they do, there will be more houses available even in areas that people erroneously think are immune from the down turn. Watch and wait.

[Aecetia]

Associated Press
Home Prices Plunge Across California
By ALEX VEIGA 03.13.08, 1:39 PM ET

http://www.forbes.com/feeds/ap/2008/03/13/ap4769646.html

Keep waiting. As loans reset, etc. there could be more price depreciation in the area you like. I have seen a lot of price downturn in the area I am watching in the last six months and I have no reason to think it is going anywhere but down. The CA economy, jobs, etc. are contributing to the downturn and I do not think it will recover for the next couple of years. It might level off, but the long time owners who have not yet figured out that they just missed the boat will eventually wise up. When they do, there will be more houses available even in areas that people erroneously think are immune from the down turn. Watch and wait.

[Aecetia]

Associated Press
Home Prices Plunge Across California
By ALEX VEIGA 03.13.08, 1:39 PM ET

http://www.forbes.com/feeds/ap/2008/03/13/ap4769646.html

Keep waiting. As loans reset, etc. there could be more price depreciation in the area you like. I have seen a lot of price downturn in the area I am watching in the last six months and I have no reason to think it is going anywhere but down. The CA economy, jobs, etc. are contributing to the downturn and I do not think it will recover for the next couple of years. It might level off, but the long time owners who have not yet figured out that they just missed the boat will eventually wise up. When they do, there will be more houses available even in areas that people erroneously think are immune from the down turn. Watch and wait.

[jimcav]

thanks–i will watch and wait with a goal of somewhere between 350 and 400 per sq ft as an entry point depending on exact location and lot size (ie if it is the right house). that is about where i see owning trumping renting in those areas, unless rents change of course.

jim

[jimcav]

thanks–i will watch and wait with a goal of somewhere between 350 and 400 per sq ft as an entry point depending on exact location and lot size (ie if it is the right house). that is about where i see owning trumping renting in those areas, unless rents change of course.

jim

[jimcav]

thanks–i will watch and wait with a goal of somewhere between 350 and 400 per sq ft as an entry point depending on exact location and lot size (ie if it is the right house). that is about where i see owning trumping renting in those areas, unless rents change of course.

jim

[jimcav]

thanks–i will watch and wait with a goal of somewhere between 350 and 400 per sq ft as an entry point depending on exact location and lot size (ie if it is the right house). that is about where i see owning trumping renting in those areas, unless rents change of course.

jim

[jimcav]

thanks–i will watch and wait with a goal of somewhere between 350 and 400 per sq ft as an entry point depending on exact location and lot size (ie if it is the right house). that is about where i see owning trumping renting in those areas, unless rents change of course.

jim

[nostradamus]

How will you bicycle from Pt. Loma to Coronado? The only way I know would be to take the ferry from Harbor Blvd. (they allow bikes). Unless you rent something at or near the base of the Silver Strand.

[nostradamus]

How will you bicycle from Pt. Loma to Coronado? The only way I know would be to take the ferry from Harbor Blvd. (they allow bikes). Unless you rent something at or near the base of the Silver Strand.

[nostradamus]

How will you bicycle from Pt. Loma to Coronado? The only way I know would be to take the ferry from Harbor Blvd. (they allow bikes). Unless you rent something at or near the base of the Silver Strand.

[nostradamus]

How will you bicycle from Pt. Loma to Coronado? The only way I know would be to take the ferry from Harbor Blvd. (they allow bikes). Unless you rent something at or near the base of the Silver Strand.

[Author]

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