What is going on in Mission Hills / 92103

[sdgrrl]

I’ve been renting in Mission Hills for around 8 years now and feel I have it made since I wasn’t a home buyer pre-bubble.

My landlord is amazing and has only raised the rent $200 this whole time on a 2br/1.5 ba two story with a “decent” bay view and no flight path noise.

During the epic boom my partner and I would laugh to our friends that we lived in a million dollar neighborhood and we do- we just happen to be with the folks on the lower end of the hill.

At the height of the boom I saw all the typical things we all saw; homes for sale and quickly sold, moving trucks, lots of construction, lots landscaping etc. Then of course the crash came and we all saw the homes for sale and foreclosure signs.

Now it’s 2011. I walk my dog around a fairly small 1 mile radius and it seems more foreclosures and bank owned signs are posted. My “dream” home I have ogled over for 8 years is for sale, 3485 Hawk St. and more “for sale” signs seems to pop up overnight. These places are not moving; 1405 Vine is the most recent. 3505 Kite St. has been on the market forever. 3454 Union St. is now bank owned and has been vacant for well over a year. Even rentals are not moving. Parts of Mission Hills are beginning to feel like a ghost town.

Last Saturday we had a realtor come to our place with brochures for 1306 Sassafras Street that has been on the market I believe for well over a year; applaud his bravado, but no thanks. There was a house across the street for sale for a long time, but the owner obviously took it off the market.

What do you all think is the forecast for Mission Hills? Feels very odd around here…

[blahblahblah]

Things are going to decline very slowly there for a very long time. You have a lot of established people there who will sit out rather than sell and move up, you have a huge pool of people who want to live there and will stretch to afford it when the right place becomes available. It’s a recipe for frustration if you are looking to buy there. On the positive side, there are probably some deals if you’re willing to entertain less-than-optimal properties, like those with only 1000sf or no garage, etc… But if you’re looking for the holy grail in 92103, 1500sf+ SFH with a yard and a 2 car garage, you will probably have to pay up or wait a long time.

You might check out North/South Park, prices seem to be coming down there faster and there are some great houses, a lot more supply of quality places than in 92103. NP/SP is getting nicer all the time, in some ways I prefer SP to Mission Hills.

I bought in 2009 in 92103 because I didn’t want to have to keep waiting and I was sick of the place I was renting. I was worried about renting another place, you never know if your landlord is a scam artist/flipper/conman/whatever and I didn’t want to wake up to the sheriff banging on the door with a foreclosure notice. I’m sure my house has declined 10% since I bought it, but who cares I’m not going anywhere.

I predict falling prices in the good central neighborhoods for several more years but of course I’ve been wrong in the past.

[blahblahblah]

Things are going to decline very slowly there for a very long time. You have a lot of established people there who will sit out rather than sell and move up, you have a huge pool of people who want to live there and will stretch to afford it when the right place becomes available. It’s a recipe for frustration if you are looking to buy there. On the positive side, there are probably some deals if you’re willing to entertain less-than-optimal properties, like those with only 1000sf or no garage, etc… But if you’re looking for the holy grail in 92103, 1500sf+ SFH with a yard and a 2 car garage, you will probably have to pay up or wait a long time.

You might check out North/South Park, prices seem to be coming down there faster and there are some great houses, a lot more supply of quality places than in 92103. NP/SP is getting nicer all the time, in some ways I prefer SP to Mission Hills.

I bought in 2009 in 92103 because I didn’t want to have to keep waiting and I was sick of the place I was renting. I was worried about renting another place, you never know if your landlord is a scam artist/flipper/conman/whatever and I didn’t want to wake up to the sheriff banging on the door with a foreclosure notice. I’m sure my house has declined 10% since I bought it, but who cares I’m not going anywhere.

I predict falling prices in the good central neighborhoods for several more years but of course I’ve been wrong in the past.

[blahblahblah]

Things are going to decline very slowly there for a very long time. You have a lot of established people there who will sit out rather than sell and move up, you have a huge pool of people who want to live there and will stretch to afford it when the right place becomes available. It’s a recipe for frustration if you are looking to buy there. On the positive side, there are probably some deals if you’re willing to entertain less-than-optimal properties, like those with only 1000sf or no garage, etc… But if you’re looking for the holy grail in 92103, 1500sf+ SFH with a yard and a 2 car garage, you will probably have to pay up or wait a long time.

You might check out North/South Park, prices seem to be coming down there faster and there are some great houses, a lot more supply of quality places than in 92103. NP/SP is getting nicer all the time, in some ways I prefer SP to Mission Hills.

I bought in 2009 in 92103 because I didn’t want to have to keep waiting and I was sick of the place I was renting. I was worried about renting another place, you never know if your landlord is a scam artist/flipper/conman/whatever and I didn’t want to wake up to the sheriff banging on the door with a foreclosure notice. I’m sure my house has declined 10% since I bought it, but who cares I’m not going anywhere.

I predict falling prices in the good central neighborhoods for several more years but of course I’ve been wrong in the past.

[blahblahblah]

Things are going to decline very slowly there for a very long time. You have a lot of established people there who will sit out rather than sell and move up, you have a huge pool of people who want to live there and will stretch to afford it when the right place becomes available. It’s a recipe for frustration if you are looking to buy there. On the positive side, there are probably some deals if you’re willing to entertain less-than-optimal properties, like those with only 1000sf or no garage, etc… But if you’re looking for the holy grail in 92103, 1500sf+ SFH with a yard and a 2 car garage, you will probably have to pay up or wait a long time.

You might check out North/South Park, prices seem to be coming down there faster and there are some great houses, a lot more supply of quality places than in 92103. NP/SP is getting nicer all the time, in some ways I prefer SP to Mission Hills.

I bought in 2009 in 92103 because I didn’t want to have to keep waiting and I was sick of the place I was renting. I was worried about renting another place, you never know if your landlord is a scam artist/flipper/conman/whatever and I didn’t want to wake up to the sheriff banging on the door with a foreclosure notice. I’m sure my house has declined 10% since I bought it, but who cares I’m not going anywhere.

I predict falling prices in the good central neighborhoods for several more years but of course I’ve been wrong in the past.

[blahblahblah]

Things are going to decline very slowly there for a very long time. You have a lot of established people there who will sit out rather than sell and move up, you have a huge pool of people who want to live there and will stretch to afford it when the right place becomes available. It’s a recipe for frustration if you are looking to buy there. On the positive side, there are probably some deals if you’re willing to entertain less-than-optimal properties, like those with only 1000sf or no garage, etc… But if you’re looking for the holy grail in 92103, 1500sf+ SFH with a yard and a 2 car garage, you will probably have to pay up or wait a long time.

You might check out North/South Park, prices seem to be coming down there faster and there are some great houses, a lot more supply of quality places than in 92103. NP/SP is getting nicer all the time, in some ways I prefer SP to Mission Hills.

I bought in 2009 in 92103 because I didn’t want to have to keep waiting and I was sick of the place I was renting. I was worried about renting another place, you never know if your landlord is a scam artist/flipper/conman/whatever and I didn’t want to wake up to the sheriff banging on the door with a foreclosure notice. I’m sure my house has declined 10% since I bought it, but who cares I’m not going anywhere.

I predict falling prices in the good central neighborhoods for several more years but of course I’ve been wrong in the past.

[sdgrrl]

Love Mission Hills, SP, parts of North Park and Bankers Hill. I’m not psychic- just surprised that the owner of 3485 Hawk St would sell now and not five/six years ago. Who knows the circumstances though- could be divorce, death. It’s my dream house, but I won’t suffer horribly to try and own it or pretend to you all that I even could 😉

[sdgrrl]

Love Mission Hills, SP, parts of North Park and Bankers Hill. I’m not psychic- just surprised that the owner of 3485 Hawk St would sell now and not five/six years ago. Who knows the circumstances though- could be divorce, death. It’s my dream house, but I won’t suffer horribly to try and own it or pretend to you all that I even could 😉

[sdgrrl]

Love Mission Hills, SP, parts of North Park and Bankers Hill. I’m not psychic- just surprised that the owner of 3485 Hawk St would sell now and not five/six years ago. Who knows the circumstances though- could be divorce, death. It’s my dream house, but I won’t suffer horribly to try and own it or pretend to you all that I even could 😉

[sdgrrl]

Love Mission Hills, SP, parts of North Park and Bankers Hill. I’m not psychic- just surprised that the owner of 3485 Hawk St would sell now and not five/six years ago. Who knows the circumstances though- could be divorce, death. It’s my dream house, but I won’t suffer horribly to try and own it or pretend to you all that I even could 😉

[sdgrrl]

Love Mission Hills, SP, parts of North Park and Bankers Hill. I’m not psychic- just surprised that the owner of 3485 Hawk St would sell now and not five/six years ago. Who knows the circumstances though- could be divorce, death. It’s my dream house, but I won’t suffer horribly to try and own it or pretend to you all that I even could 😉

[sdgrrl]

Yes I agree, with the huge glut of homes that are not moving and more coming on the market monthly I think 92103 will dip, but I have no clue how much more.

[sdgrrl]

Yes I agree, with the huge glut of homes that are not moving and more coming on the market monthly I think 92103 will dip, but I have no clue how much more.

[sdgrrl]

Yes I agree, with the huge glut of homes that are not moving and more coming on the market monthly I think 92103 will dip, but I have no clue how much more.

[sdgrrl]

Yes I agree, with the huge glut of homes that are not moving and more coming on the market monthly I think 92103 will dip, but I have no clue how much more.

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