[djrobsd]

According to the DataQuik chart, Hillcrest is down 25% year over year. Is this really true, or do you think where was just a huge swing back towards lower end homes sold last month versus some higher end ones in previous months? Hillcrest has a dramatic range of values, from the 200k studio condo to the 3 million dollar estate (those are very rare, but there are a few in 92103). 😉

[djrobsd]

According to the DataQuik chart, Hillcrest is down 25% year over year. Is this really true, or do you think where was just a huge swing back towards lower end homes sold last month versus some higher end ones in previous months? Hillcrest has a dramatic range of values, from the 200k studio condo to the 3 million dollar estate (those are very rare, but there are a few in 92103). 😉

[djrobsd]

I should have further elaborated before clicking the post button…

They say to bring housing in line with the price/rent ratio, San Diego needs to drop 34%. I would say, they are dead on with that number. My house rents for only $1650, but I paid $345,000 for it, a 34% drop would bring it down to $227,000, and even with 100% financing, that makes the payment much closer to the rent, @ 7% mortgage would be $1324 a month, plus $208 in property taxes, $131 in HOA, makes it almost dead on with the rent I’m collecting right now. On the other hand, they are assuming in this article that interest rates won’t go back up to their original levels back in the 80s and 90s. 😉 If they go back up, the price correction would have to be MUCH higher.

[djrobsd]

I should have further elaborated before clicking the post button…

They say to bring housing in line with the price/rent ratio, San Diego needs to drop 34%. I would say, they are dead on with that number. My house rents for only $1650, but I paid $345,000 for it, a 34% drop would bring it down to $227,000, and even with 100% financing, that makes the payment much closer to the rent, @ 7% mortgage would be $1324 a month, plus $208 in property taxes, $131 in HOA, makes it almost dead on with the rent I’m collecting right now. On the other hand, they are assuming in this article that interest rates won’t go back up to their original levels back in the 80s and 90s. 😉 If they go back up, the price correction would have to be MUCH higher.

[djrobsd]

I should have further elaborated before clicking the post button…

They say to bring housing in line with the price/rent ratio, San Diego needs to drop 34%. I would say, they are dead on with that number. My house rents for only $1650, but I paid $345,000 for it, a 34% drop would bring it down to $227,000, and even with 100% financing, that makes the payment much closer to the rent, @ 7% mortgage would be $1324 a month, plus $208 in property taxes, $131 in HOA, makes it almost dead on with the rent I’m collecting right now. On the other hand, they are assuming in this article that interest rates won’t go back up to their original levels back in the 80s and 90s. 😉 If they go back up, the price correction would have to be MUCH higher.

[djrobsd]

I should have further elaborated before clicking the post button…

They say to bring housing in line with the price/rent ratio, San Diego needs to drop 34%. I would say, they are dead on with that number. My house rents for only $1650, but I paid $345,000 for it, a 34% drop would bring it down to $227,000, and even with 100% financing, that makes the payment much closer to the rent, @ 7% mortgage would be $1324 a month, plus $208 in property taxes, $131 in HOA, makes it almost dead on with the rent I’m collecting right now. On the other hand, they are assuming in this article that interest rates won’t go back up to their original levels back in the 80s and 90s. 😉 If they go back up, the price correction would have to be MUCH higher.

[djrobsd]

I should have further elaborated before clicking the post button…

They say to bring housing in line with the price/rent ratio, San Diego needs to drop 34%. I would say, they are dead on with that number. My house rents for only $1650, but I paid $345,000 for it, a 34% drop would bring it down to $227,000, and even with 100% financing, that makes the payment much closer to the rent, @ 7% mortgage would be $1324 a month, plus $208 in property taxes, $131 in HOA, makes it almost dead on with the rent I’m collecting right now. On the other hand, they are assuming in this article that interest rates won’t go back up to their original levels back in the 80s and 90s. 😉 If they go back up, the price correction would have to be MUCH higher.

[djrobsd]

Ironically, if you look at my zip code, it says the median for single family resale homes sold was $600,000 as oposed to $425,000 in September, which just goes to show how BOGUS this whole “median home value” stuff is!!!

wouldn’t that be funny if the union tribune said “Normal heights real estate up 40% this month”

Also for my zip, list to sale price dropped from 96.17% to 94.94%, and average days on the market increased from 25 days to 44.

[djrobsd]

Ironically, if you look at my zip code, it says the median for single family resale homes sold was $600,000 as oposed to $425,000 in September, which just goes to show how BOGUS this whole “median home value” stuff is!!!

wouldn’t that be funny if the union tribune said “Normal heights real estate up 40% this month”

Also for my zip, list to sale price dropped from 96.17% to 94.94%, and average days on the market increased from 25 days to 44.

[djrobsd]

Ironically, if you look at my zip code, it says the median for single family resale homes sold was $600,000 as oposed to $425,000 in September, which just goes to show how BOGUS this whole “median home value” stuff is!!!

wouldn’t that be funny if the union tribune said “Normal heights real estate up 40% this month”

Also for my zip, list to sale price dropped from 96.17% to 94.94%, and average days on the market increased from 25 days to 44.

[djrobsd]

Ironically, if you look at my zip code, it says the median for single family resale homes sold was $600,000 as oposed to $425,000 in September, which just goes to show how BOGUS this whole “median home value” stuff is!!!

wouldn’t that be funny if the union tribune said “Normal heights real estate up 40% this month”

Also for my zip, list to sale price dropped from 96.17% to 94.94%, and average days on the market increased from 25 days to 44.

[djrobsd]

Amen. They opened around the same time Phils BBQ closed for remodeling. They capitalized on the fact that Phils was closed… And somehow managed to win best BBQ in SD because Phils was closed when the review was done that year. Big Jim’s was overhyped, I won’t miss it.

[djrobsd]

Amen. They opened around the same time Phils BBQ closed for remodeling. They capitalized on the fact that Phils was closed… And somehow managed to win best BBQ in SD because Phils was closed when the review was done that year. Big Jim’s was overhyped, I won’t miss it.

[djrobsd]

Amen. They opened around the same time Phils BBQ closed for remodeling. They capitalized on the fact that Phils was closed… And somehow managed to win best BBQ in SD because Phils was closed when the review was done that year. Big Jim’s was overhyped, I won’t miss it.

[djrobsd]

Amen. They opened around the same time Phils BBQ closed for remodeling. They capitalized on the fact that Phils was closed… And somehow managed to win best BBQ in SD because Phils was closed when the review was done that year. Big Jim’s was overhyped, I won’t miss it.

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