Why is Point Loma so expensive?

[OnPoint]

[quote=threadkiller]You betcha, and it will tear the hearts out of the greedy homeowners living there.[/quote]

Long-time Piggington reader, first time poster.

I guess I’m one of the greedy homeowners, I live a few blocks from there. I love Pt Loma, it’s a good fit for me personally. Low key vibe, genteel old folks, cool weather. I can ride my bike to work (downtown) along the bay, on the weekend I sometimes ride to the lighthouse. Daily I am thankful to live there.

I have lived in Pt Loma since 2000, except for 2 years we moved away to a McMansion in South Bay (or as I called it, “The MicroCastle”). I found this site around 2004, and it scared me into selling the new house, for which I am sooooo glad. Many thanks to the doomsayers on this board 🙂 You gave me the reinforcement I needed to drag my wife kicking & screaming out of a new “all granite countertops” house and back into an original 1950 cottage. Under the Lindbergh flightpath too 🙂

In reference to the house for sale, seems to me it’s not selling. Neither are the two around the corner on Hyacinth/Lotus. Months on the market, plenty of open houses, but no sales. I think the prices are falling, but you don’t see that reflected if the sale is not made. As the wife & I say, rolling our eyes, re the high asking prices around our neighborhood, “I hope they get it.” But they don’t.

Why don’t they lower their price? I don’t know for sure. But of my neighbors, the majority are long-time residents. And when I say longtime, for some that means 50+ years. Plenty of old folks, may not have to sell for money. If they’re offended by “low” offers, maybe they just sit tight?

But you know what really rips my heart out? That I did not connect the dots to short sell those companies holding securitized subprimes. I had all the facts in the hopper, and I even bailed out of properties based on my belief in a major downturn. Just didn’t put it together. Doh!

And lastly, kudos to Mr. Toscano for starting this site. I suspect it’s done a lot of people a lot of good. Shoulda said that years ago…

[Shadowfax]

At the very least, it’s given those of us who missed the boat a nice, group-therapy experience to come commiserate and conjecture about when we should stop toe-dipping and dive in ourselves (i.e., when the bottom truly hits). Enjoy your cottage–wish I had pushed the hubby into buying that cute little cottage back in ’98 for only $450k (that now goes for nearly twice that). But you can’t change the past….

[Shadowfax]

At the very least, it’s given those of us who missed the boat a nice, group-therapy experience to come commiserate and conjecture about when we should stop toe-dipping and dive in ourselves (i.e., when the bottom truly hits). Enjoy your cottage–wish I had pushed the hubby into buying that cute little cottage back in ’98 for only $450k (that now goes for nearly twice that). But you can’t change the past….

[Shadowfax]

At the very least, it’s given those of us who missed the boat a nice, group-therapy experience to come commiserate and conjecture about when we should stop toe-dipping and dive in ourselves (i.e., when the bottom truly hits). Enjoy your cottage–wish I had pushed the hubby into buying that cute little cottage back in ’98 for only $450k (that now goes for nearly twice that). But you can’t change the past….

[Shadowfax]

At the very least, it’s given those of us who missed the boat a nice, group-therapy experience to come commiserate and conjecture about when we should stop toe-dipping and dive in ourselves (i.e., when the bottom truly hits). Enjoy your cottage–wish I had pushed the hubby into buying that cute little cottage back in ’98 for only $450k (that now goes for nearly twice that). But you can’t change the past….

[Shadowfax]

At the very least, it’s given those of us who missed the boat a nice, group-therapy experience to come commiserate and conjecture about when we should stop toe-dipping and dive in ourselves (i.e., when the bottom truly hits). Enjoy your cottage–wish I had pushed the hubby into buying that cute little cottage back in ’98 for only $450k (that now goes for nearly twice that). But you can’t change the past….

[Author]

Posts