[enriquecoronado]

Seems like there is a little more sales acitivity in Coronado lately per sdlookup. I’ve been watching the market for a while and at $399 sq. ft. this is a nice comp killer… especially for a completely remodeled house. Im still a big believer that even high-end confined areas such as Coronado are not immune to some very drastic price drops. Lets see what valuations look like next year.

[enriquecoronado]

Seems like there is a little more sales acitivity in Coronado lately per sdlookup. I’ve been watching the market for a while and at $399 sq. ft. this is a nice comp killer… especially for a completely remodeled house. Im still a big believer that even high-end confined areas such as Coronado are not immune to some very drastic price drops. Lets see what valuations look like next year.

[enriquecoronado]

Seems like there is a little more sales acitivity in Coronado lately per sdlookup. I’ve been watching the market for a while and at $399 sq. ft. this is a nice comp killer… especially for a completely remodeled house. Im still a big believer that even high-end confined areas such as Coronado are not immune to some very drastic price drops. Lets see what valuations look like next year.

[enriquecoronado]

Seems like there is a little more sales acitivity in Coronado lately per sdlookup. I’ve been watching the market for a while and at $399 sq. ft. this is a nice comp killer… especially for a completely remodeled house. Im still a big believer that even high-end confined areas such as Coronado are not immune to some very drastic price drops. Lets see what valuations look like next year.

[enriquecoronado]

Seems like there is a little more sales acitivity in Coronado lately per sdlookup. I’ve been watching the market for a while and at $399 sq. ft. this is a nice comp killer… especially for a completely remodeled house. Im still a big believer that even high-end confined areas such as Coronado are not immune to some very drastic price drops. Lets see what valuations look like next year.

[enriquecoronado]

Another North Park loss

I was just about to start a new thread when radelow posted this one. Definitely a trend around here in North Park. Here is one I’ve been tracking for a while now. Its a house very close to my (rented) house- 3151 Palm Ave. 92104

Sales History-
06/11/2007: $695,000
10/03/2006: $755,000
08/24/2001: $441,000
(from zillow, looks like sdlookup doesn’t have the latest data yet)

These guys tried to rent this place for a few months and didn’t appear to have any luck. As soon as I saw the house back on the market, I knew trouble was brewing! Here is the rich (or poor) part – they listed the house for between 799-899K… hmmm very hopeful indeed. Looks like the rather strong market forces prevailed- if you factor in a 6% broker fee, thats over a $100K loss.. ouch!

[enriquecoronado]

Another North Park loss

I was just about to start a new thread when radelow posted this one. Definitely a trend around here in North Park. Here is one I’ve been tracking for a while now. Its a house very close to my (rented) house- 3151 Palm Ave. 92104

Sales History-
06/11/2007: $695,000
10/03/2006: $755,000
08/24/2001: $441,000
(from zillow, looks like sdlookup doesn’t have the latest data yet)

These guys tried to rent this place for a few months and didn’t appear to have any luck. As soon as I saw the house back on the market, I knew trouble was brewing! Here is the rich (or poor) part – they listed the house for between 799-899K… hmmm very hopeful indeed. Looks like the rather strong market forces prevailed- if you factor in a 6% broker fee, thats over a $100K loss.. ouch!

[enriquecoronado]

In Nov 2005 we were in escrow on a house on Fir on the other side of Fern, 2865 Fir between Granada and 29th. We canceled 2 days in because of the airplane noise, and the fact that its a tiny house on a tiny lot (780sf/2600sf lot). All that area is under the flightpath, granted its less noise than further west in bankers hill. We’ve been renting elsewhere in North Park ever since, and its the best financial decision my wife and I ever made! The house sold a few months later to somebody for about 10K less than what we offered.

We are renting way more house in Burlingame (nicest part of South Park) for much less than what our monthly costs would have been for that dinky little house on Fir. South Park is definitely an up and coming neighborhood, but lets put this into context- home prices in San Diego are ridiculous everywhere, even in the cool, up and coming, fashionable places like South Park.

I’ve been keeping my eyes on this place which is 1 block over from where I live:

3151 Palm St, 92104 Sales Prices
10/03/2006: $755,000
08/24/2001: $441,000

These folks bought it in Oct, fixed it up a little, and tried to rent it for about 3 months, gave up and put it back on the market. I hear they were trying to rent it for $2600. Now they have it back on the market for $799-$889, the $799K being conveniently 6% above their purchase price so they can cover broker fees. MLS says its pending, but its been that way for over a month now, and I’ve seen no activity that somebody new is in there, and there is still the prudential realty sign out there without any indication of a sale (“In Escrow” etc…) A comparable house right behind this one on Olive st sold for 680K in June 06. Are these guys kidding???

[Author]

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