What is going on in Mission Hills / 92103

[sdgrrl]

There seems to be a lot of homes at the 1 mill mark that have been sitting for awhile and I’m not sure what the sellers think will happen. The house behind mine has been for sale for over a year at $1.2-1.6 and there are no takers. The house across the street from it on Vine is much smaller and much cheaper at a fraction of the price- once again no takers.

Agree whole heatedly about the rent/buy ratio. I notice though high-end rentals in my area are sitting collecting dust. Love my neighborhood- just think the pricing is out of whack and needs to come down in this economy.

[pemeliza]

I by no means meant to imply that the high-end 1M+ market is strong in MH just that it seems a little stronger the last few months than it has been.

Also, if you look at what stuff is actually selling for versus what it is listed at, prices have come down significantly from the peak.

As CONCHO mentioned, there does seem to be a large contingent of hopeful and unrealistic sellers. Thus, 92103 seems to have an inventory glut especially when compared to its lower cost neighbor 92104.

[pemeliza]

I by no means meant to imply that the high-end 1M+ market is strong in MH just that it seems a little stronger the last few months than it has been.

Also, if you look at what stuff is actually selling for versus what it is listed at, prices have come down significantly from the peak.

As CONCHO mentioned, there does seem to be a large contingent of hopeful and unrealistic sellers. Thus, 92103 seems to have an inventory glut especially when compared to its lower cost neighbor 92104.

[pemeliza]

I by no means meant to imply that the high-end 1M+ market is strong in MH just that it seems a little stronger the last few months than it has been.

Also, if you look at what stuff is actually selling for versus what it is listed at, prices have come down significantly from the peak.

As CONCHO mentioned, there does seem to be a large contingent of hopeful and unrealistic sellers. Thus, 92103 seems to have an inventory glut especially when compared to its lower cost neighbor 92104.

[pemeliza]

I by no means meant to imply that the high-end 1M+ market is strong in MH just that it seems a little stronger the last few months than it has been.

Also, if you look at what stuff is actually selling for versus what it is listed at, prices have come down significantly from the peak.

As CONCHO mentioned, there does seem to be a large contingent of hopeful and unrealistic sellers. Thus, 92103 seems to have an inventory glut especially when compared to its lower cost neighbor 92104.

[pemeliza]

I by no means meant to imply that the high-end 1M+ market is strong in MH just that it seems a little stronger the last few months than it has been.

Also, if you look at what stuff is actually selling for versus what it is listed at, prices have come down significantly from the peak.

As CONCHO mentioned, there does seem to be a large contingent of hopeful and unrealistic sellers. Thus, 92103 seems to have an inventory glut especially when compared to its lower cost neighbor 92104.

[sdgrrl]

100% agree

[sdgrrl]

100% agree

[sdgrrl]

100% agree

[sdgrrl]

100% agree

[sdgrrl]

100% agree

[briansd1]

i’ve been watching the market also because it’s close to downtown (my target is downtown and surroundings).

I personally would not buy anything that requires a jumbo mortgage now, unless I get a killer deal. I would not buy at “fair market price.” Watch interest rates and that will tell you the direction of the market.

I believe there’s a lot of psychology and momentum in market trends. People are no longer “making” money” being homeowners; it’s “costing” them to own. Sacrificing for the house is getting tiresome.

[briansd1]

i’ve been watching the market also because it’s close to downtown (my target is downtown and surroundings).

I personally would not buy anything that requires a jumbo mortgage now, unless I get a killer deal. I would not buy at “fair market price.” Watch interest rates and that will tell you the direction of the market.

I believe there’s a lot of psychology and momentum in market trends. People are no longer “making” money” being homeowners; it’s “costing” them to own. Sacrificing for the house is getting tiresome.

[briansd1]

i’ve been watching the market also because it’s close to downtown (my target is downtown and surroundings).

I personally would not buy anything that requires a jumbo mortgage now, unless I get a killer deal. I would not buy at “fair market price.” Watch interest rates and that will tell you the direction of the market.

I believe there’s a lot of psychology and momentum in market trends. People are no longer “making” money” being homeowners; it’s “costing” them to own. Sacrificing for the house is getting tiresome.

[briansd1]

i’ve been watching the market also because it’s close to downtown (my target is downtown and surroundings).

I personally would not buy anything that requires a jumbo mortgage now, unless I get a killer deal. I would not buy at “fair market price.” Watch interest rates and that will tell you the direction of the market.

I believe there’s a lot of psychology and momentum in market trends. People are no longer “making” money” being homeowners; it’s “costing” them to own. Sacrificing for the house is getting tiresome.

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