[barnaby33]

SD Realtor, I stand guilty as charged and playing the law of averages. Mira Mesa isn’t my favorite place, but since I’ve worked there and lived around it, I know it reasonably well. It is NOT a ghetto, but it is solidly lower middle and middle income housing. Parts on the north and western sides are ok, the middle is mostly aging housing stock with large densely packed populations.

Now there is a reason why people pay more to live someplaces than others in San Diego. Is it the weather, partly. Is it the conveniences and architectures, yep partly that too. What most people really want to pay for though is a, “good neighborhood.” What that means doesn’t vary all that much, to the protestation of many. It generally means low density, well educated, higher income and good schools. I’m sure you can find plenty of people to say Mira Mesa is great, but I’d bet my last dollar that very few who make 80k and have a large pool of money to buy with would consider it a first, second or even third choice.

The sheer ludicrous-iosity of the statement helped to highlight how off the rails we got. I just latched on to that statement as a poster child if you will of how badly we have lost our bearings; how we had become so numb to the vast sums of money being spent, even wasted, to secure ourselves a home.

Sometimes my posts are hastily written, but not that one. I live in Northpark which in many ways is just like Mira Mesa. Its older housing, meant for lower middle income earners. Its near jobs and services, yet it is lacking in many ways. In short its a decent place to live, but not great. At what point though have you worked hard enough that you are entitled to more? At what point do you say, f#$%k that, I’ve worked to hard to settle for a 1971 tear down behind Fudruckers. I don’t want 17 neighbor cars parked in front of my house, or alarms going off every night. I’d say at 80k a year and that much for a downpayment certainly justifies that sentiment.

So the correction continues, until balance is restored.

Josh

[barnaby33]

SD Realtor, I stand guilty as charged and playing the law of averages. Mira Mesa isn’t my favorite place, but since I’ve worked there and lived around it, I know it reasonably well. It is NOT a ghetto, but it is solidly lower middle and middle income housing. Parts on the north and western sides are ok, the middle is mostly aging housing stock with large densely packed populations.

Now there is a reason why people pay more to live someplaces than others in San Diego. Is it the weather, partly. Is it the conveniences and architectures, yep partly that too. What most people really want to pay for though is a, “good neighborhood.” What that means doesn’t vary all that much, to the protestation of many. It generally means low density, well educated, higher income and good schools. I’m sure you can find plenty of people to say Mira Mesa is great, but I’d bet my last dollar that very few who make 80k and have a large pool of money to buy with would consider it a first, second or even third choice.

The sheer ludicrous-iosity of the statement helped to highlight how off the rails we got. I just latched on to that statement as a poster child if you will of how badly we have lost our bearings; how we had become so numb to the vast sums of money being spent, even wasted, to secure ourselves a home.

Sometimes my posts are hastily written, but not that one. I live in Northpark which in many ways is just like Mira Mesa. Its older housing, meant for lower middle income earners. Its near jobs and services, yet it is lacking in many ways. In short its a decent place to live, but not great. At what point though have you worked hard enough that you are entitled to more? At what point do you say, f#$%k that, I’ve worked to hard to settle for a 1971 tear down behind Fudruckers. I don’t want 17 neighbor cars parked in front of my house, or alarms going off every night. I’d say at 80k a year and that much for a downpayment certainly justifies that sentiment.

So the correction continues, until balance is restored.

Josh

[barnaby33]

SD Realtor, I stand guilty as charged and playing the law of averages. Mira Mesa isn’t my favorite place, but since I’ve worked there and lived around it, I know it reasonably well. It is NOT a ghetto, but it is solidly lower middle and middle income housing. Parts on the north and western sides are ok, the middle is mostly aging housing stock with large densely packed populations.

Now there is a reason why people pay more to live someplaces than others in San Diego. Is it the weather, partly. Is it the conveniences and architectures, yep partly that too. What most people really want to pay for though is a, “good neighborhood.” What that means doesn’t vary all that much, to the protestation of many. It generally means low density, well educated, higher income and good schools. I’m sure you can find plenty of people to say Mira Mesa is great, but I’d bet my last dollar that very few who make 80k and have a large pool of money to buy with would consider it a first, second or even third choice.

The sheer ludicrous-iosity of the statement helped to highlight how off the rails we got. I just latched on to that statement as a poster child if you will of how badly we have lost our bearings; how we had become so numb to the vast sums of money being spent, even wasted, to secure ourselves a home.

Sometimes my posts are hastily written, but not that one. I live in Northpark which in many ways is just like Mira Mesa. Its older housing, meant for lower middle income earners. Its near jobs and services, yet it is lacking in many ways. In short its a decent place to live, but not great. At what point though have you worked hard enough that you are entitled to more? At what point do you say, f#$%k that, I’ve worked to hard to settle for a 1971 tear down behind Fudruckers. I don’t want 17 neighbor cars parked in front of my house, or alarms going off every night. I’d say at 80k a year and that much for a downpayment certainly justifies that sentiment.

So the correction continues, until balance is restored.

Josh

[barnaby33]

if you make $80K+ a year and have a down payment of $80,000+, and have a credit score above 680, and can document your income, you MIGHT be able to get a really good loan on that New Salem house these days.

Holy shit that was funny. If I make 80k a year and have 80k for a down payment, why the f#$%k would I want to live in a lower middle income part of Mira Mesa? This is exactly the kind of vapid boosterism that got us where we are. The whole point of making that kind of money (which if you make it means you most likely worked for it), is that you shouldn’t have to live in a place like Mira Mesa. 80k pretty much puts you in the top 20% of the income bracket, for a family, let alone an individual.

80k income and 80k down payment should at least get you Clairemont (BayHo not CrackHo.) PB or OB should definitely be options. Yeah lets all buy 600k starter homes in Temecula, cuz its a place to start!

Josh

[barnaby33]

if you make $80K+ a year and have a down payment of $80,000+, and have a credit score above 680, and can document your income, you MIGHT be able to get a really good loan on that New Salem house these days.

Holy shit that was funny. If I make 80k a year and have 80k for a down payment, why the f#$%k would I want to live in a lower middle income part of Mira Mesa? This is exactly the kind of vapid boosterism that got us where we are. The whole point of making that kind of money (which if you make it means you most likely worked for it), is that you shouldn’t have to live in a place like Mira Mesa. 80k pretty much puts you in the top 20% of the income bracket, for a family, let alone an individual.

80k income and 80k down payment should at least get you Clairemont (BayHo not CrackHo.) PB or OB should definitely be options. Yeah lets all buy 600k starter homes in Temecula, cuz its a place to start!

Josh

[barnaby33]

if you make $80K+ a year and have a down payment of $80,000+, and have a credit score above 680, and can document your income, you MIGHT be able to get a really good loan on that New Salem house these days.

Holy shit that was funny. If I make 80k a year and have 80k for a down payment, why the f#$%k would I want to live in a lower middle income part of Mira Mesa? This is exactly the kind of vapid boosterism that got us where we are. The whole point of making that kind of money (which if you make it means you most likely worked for it), is that you shouldn’t have to live in a place like Mira Mesa. 80k pretty much puts you in the top 20% of the income bracket, for a family, let alone an individual.

80k income and 80k down payment should at least get you Clairemont (BayHo not CrackHo.) PB or OB should definitely be options. Yeah lets all buy 600k starter homes in Temecula, cuz its a place to start!

Josh

[barnaby33]

if you make $80K+ a year and have a down payment of $80,000+, and have a credit score above 680, and can document your income, you MIGHT be able to get a really good loan on that New Salem house these days.

Holy shit that was funny. If I make 80k a year and have 80k for a down payment, why the f#$%k would I want to live in a lower middle income part of Mira Mesa? This is exactly the kind of vapid boosterism that got us where we are. The whole point of making that kind of money (which if you make it means you most likely worked for it), is that you shouldn’t have to live in a place like Mira Mesa. 80k pretty much puts you in the top 20% of the income bracket, for a family, let alone an individual.

80k income and 80k down payment should at least get you Clairemont (BayHo not CrackHo.) PB or OB should definitely be options. Yeah lets all buy 600k starter homes in Temecula, cuz its a place to start!

Josh

[barnaby33]

if you make $80K+ a year and have a down payment of $80,000+, and have a credit score above 680, and can document your income, you MIGHT be able to get a really good loan on that New Salem house these days.

Holy shit that was funny. If I make 80k a year and have 80k for a down payment, why the f#$%k would I want to live in a lower middle income part of Mira Mesa? This is exactly the kind of vapid boosterism that got us where we are. The whole point of making that kind of money (which if you make it means you most likely worked for it), is that you shouldn’t have to live in a place like Mira Mesa. 80k pretty much puts you in the top 20% of the income bracket, for a family, let alone an individual.

80k income and 80k down payment should at least get you Clairemont (BayHo not CrackHo.) PB or OB should definitely be options. Yeah lets all buy 600k starter homes in Temecula, cuz its a place to start!

Josh

[barnaby33]

I goto open houses all the time. Mostly in my neck of the woods. Northpark/Hillcrest/Mission Hills/University heights. I don’t post about them because as I said before its way too early for any truly good deals.

I went to an open house on sunday. They wanted 760 for a 2/2 no garage on a canyon with lots of stairs. True they had renovated it some, but it was 300% the cost of renting.

Open houses these days tend to be Albatross’ that look nice but won’t be sold. So the agent sits it, hoping to pick up buying clients. I’d say that almost all of the open houses I have seen recently have been egregiously overpriced. Not just overpriced, egregiously.

Josh

[barnaby33]

I goto open houses all the time. Mostly in my neck of the woods. Northpark/Hillcrest/Mission Hills/University heights. I don’t post about them because as I said before its way too early for any truly good deals.

I went to an open house on sunday. They wanted 760 for a 2/2 no garage on a canyon with lots of stairs. True they had renovated it some, but it was 300% the cost of renting.

Open houses these days tend to be Albatross’ that look nice but won’t be sold. So the agent sits it, hoping to pick up buying clients. I’d say that almost all of the open houses I have seen recently have been egregiously overpriced. Not just overpriced, egregiously.

Josh

[barnaby33]

I goto open houses all the time. Mostly in my neck of the woods. Northpark/Hillcrest/Mission Hills/University heights. I don’t post about them because as I said before its way too early for any truly good deals.

I went to an open house on sunday. They wanted 760 for a 2/2 no garage on a canyon with lots of stairs. True they had renovated it some, but it was 300% the cost of renting.

Open houses these days tend to be Albatross’ that look nice but won’t be sold. So the agent sits it, hoping to pick up buying clients. I’d say that almost all of the open houses I have seen recently have been egregiously overpriced. Not just overpriced, egregiously.

Josh

[barnaby33]

I goto open houses all the time. Mostly in my neck of the woods. Northpark/Hillcrest/Mission Hills/University heights. I don’t post about them because as I said before its way too early for any truly good deals.

I went to an open house on sunday. They wanted 760 for a 2/2 no garage on a canyon with lots of stairs. True they had renovated it some, but it was 300% the cost of renting.

Open houses these days tend to be Albatross’ that look nice but won’t be sold. So the agent sits it, hoping to pick up buying clients. I’d say that almost all of the open houses I have seen recently have been egregiously overpriced. Not just overpriced, egregiously.

Josh

[barnaby33]

I goto open houses all the time. Mostly in my neck of the woods. Northpark/Hillcrest/Mission Hills/University heights. I don’t post about them because as I said before its way too early for any truly good deals.

I went to an open house on sunday. They wanted 760 for a 2/2 no garage on a canyon with lots of stairs. True they had renovated it some, but it was 300% the cost of renting.

Open houses these days tend to be Albatross’ that look nice but won’t be sold. So the agent sits it, hoping to pick up buying clients. I’d say that almost all of the open houses I have seen recently have been egregiously overpriced. Not just overpriced, egregiously.

Josh

[barnaby33]

Hey RO, if you find something you think is a good deal, let the community know. Others regularly do, or at least ask about properties. The response they get is that almost universally bearish because its too early in the cycle for any real deals to occur. Most of the real price declines are in the future and the readership here knows it. So in order to qualify as a good deal, it would probably need to satisfy basic good deal metrics, like 8xGRM. Know any deals like that?

If however you find something, unless you are going to bid, you should share. Same goes for you Rustico.

Josh

[barnaby33]

Hey RO, if you find something you think is a good deal, let the community know. Others regularly do, or at least ask about properties. The response they get is that almost universally bearish because its too early in the cycle for any real deals to occur. Most of the real price declines are in the future and the readership here knows it. So in order to qualify as a good deal, it would probably need to satisfy basic good deal metrics, like 8xGRM. Know any deals like that?

If however you find something, unless you are going to bid, you should share. Same goes for you Rustico.

Josh

[Author]

Posts