[cantab]

Sold for $665,000, closed on May 19.

http://www.redfin.com/CA/San-Diego/5151-Foothill-Blvd-92109/home/5135763

Looks like it attracted offers immediately, then closed in less than 30 days.

Does anyone have an opinion: what does a single comp like this do to values nearby?

[cantab]

Sold for $665,000, closed on May 19.

http://www.redfin.com/CA/San-Diego/5151-Foothill-Blvd-92109/home/5135763

Looks like it attracted offers immediately, then closed in less than 30 days.

Does anyone have an opinion: what does a single comp like this do to values nearby?

[cantab]

To get an idea what the units are like, see this similar listing in the same building:
http://www.redfin.com/CA/Mentone/1365-Crafton-Ave-92359/unit-1105/home/3473275

The price history is remarkable:
Mar 11, 1998 $57,000 —
May 14, 1999 $46,990 -15.2%/yr
Aug 19, 1999 $32,000 -76.5%/yr
Dec 03, 1999 $46,500 262.3%/yr
Jan 23, 2004 $65,000 8.4%/yr

[cantab]

To get an idea what the units are like, see this similar listing in the same building:
http://www.redfin.com/CA/Mentone/1365-Crafton-Ave-92359/unit-1105/home/3473275

The price history is remarkable:
Mar 11, 1998 $57,000 —
May 14, 1999 $46,990 -15.2%/yr
Aug 19, 1999 $32,000 -76.5%/yr
Dec 03, 1999 $46,500 262.3%/yr
Jan 23, 2004 $65,000 8.4%/yr

[cantab]

To get an idea what the units are like, see this similar listing in the same building:
http://www.redfin.com/CA/Mentone/1365-Crafton-Ave-92359/unit-1105/home/3473275

The price history is remarkable:
Mar 11, 1998 $57,000 —
May 14, 1999 $46,990 -15.2%/yr
Aug 19, 1999 $32,000 -76.5%/yr
Dec 03, 1999 $46,500 262.3%/yr
Jan 23, 2004 $65,000 8.4%/yr

[cantab]

To get an idea what the units are like, see this similar listing in the same building:
http://www.redfin.com/CA/Mentone/1365-Crafton-Ave-92359/unit-1105/home/3473275

The price history is remarkable:
Mar 11, 1998 $57,000 —
May 14, 1999 $46,990 -15.2%/yr
Aug 19, 1999 $32,000 -76.5%/yr
Dec 03, 1999 $46,500 262.3%/yr
Jan 23, 2004 $65,000 8.4%/yr

[cantab]

To get an idea what the units are like, see this similar listing in the same building:
http://www.redfin.com/CA/Mentone/1365-Crafton-Ave-92359/unit-1105/home/3473275

The price history is remarkable:
Mar 11, 1998 $57,000 —
May 14, 1999 $46,990 -15.2%/yr
Aug 19, 1999 $32,000 -76.5%/yr
Dec 03, 1999 $46,500 262.3%/yr
Jan 23, 2004 $65,000 8.4%/yr

[cantab]

“We’ve owned our home (@5000SF/almost an acre with an ocean view/under $300K (edited typo of $400K) in La Jolla for almost twenty years.”

Can you provide more info on this? 19 years ago was 1989, which was near the peak of the previous bubble. In 1996 the lowest priced houses with ocen view in La Jolla were around $350K, for less than 1500sqft on less than a 1/4 acre. If they were down 30% from the previous peak (my estimate) then in 1989 they were around $500K. So how could anyone buy 5000 sqft on almost an acre in La Jolla with view for under $300K?

[cantab]

“We’ve owned our home (@5000SF/almost an acre with an ocean view/under $300K (edited typo of $400K) in La Jolla for almost twenty years.”

Can you provide more info on this? 19 years ago was 1989, which was near the peak of the previous bubble. In 1996 the lowest priced houses with ocen view in La Jolla were around $350K, for less than 1500sqft on less than a 1/4 acre. If they were down 30% from the previous peak (my estimate) then in 1989 they were around $500K. So how could anyone buy 5000 sqft on almost an acre in La Jolla with view for under $300K?

[cantab]

“We’ve owned our home (@5000SF/almost an acre with an ocean view/under $300K (edited typo of $400K) in La Jolla for almost twenty years.”

Can you provide more info on this? 19 years ago was 1989, which was near the peak of the previous bubble. In 1996 the lowest priced houses with ocen view in La Jolla were around $350K, for less than 1500sqft on less than a 1/4 acre. If they were down 30% from the previous peak (my estimate) then in 1989 they were around $500K. So how could anyone buy 5000 sqft on almost an acre in La Jolla with view for under $300K?

[cantab]

“We’ve owned our home (@5000SF/almost an acre with an ocean view/under $300K (edited typo of $400K) in La Jolla for almost twenty years.”

Can you provide more info on this? 19 years ago was 1989, which was near the peak of the previous bubble. In 1996 the lowest priced houses with ocen view in La Jolla were around $350K, for less than 1500sqft on less than a 1/4 acre. If they were down 30% from the previous peak (my estimate) then in 1989 they were around $500K. So how could anyone buy 5000 sqft on almost an acre in La Jolla with view for under $300K?

[cantab]

“We’ve owned our home (@5000SF/almost an acre with an ocean view/under $300K (edited typo of $400K) in La Jolla for almost twenty years.”

Can you provide more info on this? 19 years ago was 1989, which was near the peak of the previous bubble. In 1996 the lowest priced houses with ocen view in La Jolla were around $350K, for less than 1500sqft on less than a 1/4 acre. If they were down 30% from the previous peak (my estimate) then in 1989 they were around $500K. So how could anyone buy 5000 sqft on almost an acre in La Jolla with view for under $300K?

[cantab]

Thanks for the opinions! Just to be a devil’s advocate, the descriptions could apply to Pacific Beach also, a couple of decades ago:

“plans to tear down a strip mall on Palm and replace it with a new one that (I think) included a Trader Joes”

“The schools are really bad”. Here are the state test scores (2007 base API):
IB elementary 782
Crown Point Elem. 777
Pacific Beach Elem. 836

“There are lots of crappy apartments mixed in with single family” True for Pacific Beach also.

PB has a lot of SDSU students who drive up rents and keep the area trendy; they don’t just bring problems. Google Maps says that downtown IB to the Hotel Del Coronado is 13 minutes, and 25 minutes to SDSU. SDSU to Crystal Pier in PB is 21 minutes. So college students should be interested in IB.

Of course an area can fail to gentrify for many more decades…

[cantab]

Thanks for the opinions! Just to be a devil’s advocate, the descriptions could apply to Pacific Beach also, a couple of decades ago:

“plans to tear down a strip mall on Palm and replace it with a new one that (I think) included a Trader Joes”

“The schools are really bad”. Here are the state test scores (2007 base API):
IB elementary 782
Crown Point Elem. 777
Pacific Beach Elem. 836

“There are lots of crappy apartments mixed in with single family” True for Pacific Beach also.

PB has a lot of SDSU students who drive up rents and keep the area trendy; they don’t just bring problems. Google Maps says that downtown IB to the Hotel Del Coronado is 13 minutes, and 25 minutes to SDSU. SDSU to Crystal Pier in PB is 21 minutes. So college students should be interested in IB.

Of course an area can fail to gentrify for many more decades…

[cantab]

Thanks for the opinions! Just to be a devil’s advocate, the descriptions could apply to Pacific Beach also, a couple of decades ago:

“plans to tear down a strip mall on Palm and replace it with a new one that (I think) included a Trader Joes”

“The schools are really bad”. Here are the state test scores (2007 base API):
IB elementary 782
Crown Point Elem. 777
Pacific Beach Elem. 836

“There are lots of crappy apartments mixed in with single family” True for Pacific Beach also.

PB has a lot of SDSU students who drive up rents and keep the area trendy; they don’t just bring problems. Google Maps says that downtown IB to the Hotel Del Coronado is 13 minutes, and 25 minutes to SDSU. SDSU to Crystal Pier in PB is 21 minutes. So college students should be interested in IB.

Of course an area can fail to gentrify for many more decades…

[Author]

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