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JerseyGrl
ParticipantToots
I agree with you, SD. In this neck of 92104, there are few families with kids. Gays and older (still working) couples mostly, I think. There are no decent schools in the hood with the exception of St Agustine’s.
Believe it or not, the condo dwellers are the ones with kids. Owners or renters, who knows.
There are homes with asking pices over the 1 million mark here…….unless they overlook the golf course they don’t stand a chance of selling at that price. There was a house for sale across from Morley with an asking price over 1 million. It went in and out of excrow a couple times before it finally sold for something like 700K.
Over on Laurel/San Marcos/Burlingame some houses are still selling for close to 1 million, near Switzer Canyon.
A guy we know who’s lived here in 92104 his whole life swears houses here will never be worth less than 0.5 million dollars. Last year he tried to convince us to buy an 800 sq ft 80 year old house for 549K because it was such a good deal………………he’s dreaming.
ParticipantToots
I live in North Park, close to the border of South Park. It seems like houses are selling in “Burlingame” but not other neighborhoods like Alta Dena. We know someone who’s been trying to sell her house for almost 6 months, with three or four price reductions. It probably would have helped to take the bars off the windows……ya think? Who’s going to spend 650K for a house with bars on every window…
We are seeing more “bank owned” signs, like this tiny house at 2136 Bancroft. Check out this sales history:
Sale History
09/10/2007: $485,000
07/10/2007: $547,122
08/01/2005: $635,000
08/01/2005: $635,000
02/17/2004: $479,000
09/13/1999: $193,000What’s going on there?
There are still a few flippers, like one on 3175 Olive. It was on the market for a long time before it sold this summer. I was so surprised to see the for sale sign go up again, and they’re asking 750-825 K for it. It’s sales history is:
06/19/2007: $630,000
No other sale data is availableIf I hear one more person say “it’s a buyer’s market” I’ll puke. These houses are still grossly overpriced. We rent a pretty nice little house that would cost us twice as much to own as rent, probably more.
I’d be very interested in hearing more about what’s happening in 92104. A LOT of people bought here in the last four years, and their houses must be worth substantially less than what they paid for them…….especially the condos between University and El Cajon.
ParticipantToots
I live in North Park, close to the border of South Park. It seems like houses are selling in “Burlingame” but not other neighborhoods like Alta Dena. We know someone who’s been trying to sell her house for almost 6 months, with three or four price reductions. It probably would have helped to take the bars off the windows……ya think? Who’s going to spend 650K for a house with bars on every window…
We are seeing more “bank owned” signs, like this tiny house at 2136 Bancroft. Check out this sales history:
Sale History
09/10/2007: $485,000
07/10/2007: $547,122
08/01/2005: $635,000
08/01/2005: $635,000
02/17/2004: $479,000
09/13/1999: $193,000What’s going on there?
There are still a few flippers, like one on 3175 Olive. It was on the market for a long time before it sold this summer. I was so surprised to see the for sale sign go up again, and they’re asking 750-825 K for it. It’s sales history is:
06/19/2007: $630,000
No other sale data is availableIf I hear one more person say “it’s a buyer’s market” I’ll puke. These houses are still grossly overpriced. We rent a pretty nice little house that would cost us twice as much to own as rent, probably more.
I’d be very interested in hearing more about what’s happening in 92104. A LOT of people bought here in the last four years, and their houses must be worth substantially less than what they paid for them…….especially the condos between University and El Cajon.
ParticipantToots
I live in North Park, close to the border of South Park. It seems like houses are selling in “Burlingame” but not other neighborhoods like Alta Dena. We know someone who’s been trying to sell her house for almost 6 months, with three or four price reductions. It probably would have helped to take the bars off the windows……ya think? Who’s going to spend 650K for a house with bars on every window…
We are seeing more “bank owned” signs, like this tiny house at 2136 Bancroft. Check out this sales history:
Sale History
09/10/2007: $485,000
07/10/2007: $547,122
08/01/2005: $635,000
08/01/2005: $635,000
02/17/2004: $479,000
09/13/1999: $193,000What’s going on there?
There are still a few flippers, like one on 3175 Olive. It was on the market for a long time before it sold this summer. I was so surprised to see the for sale sign go up again, and they’re asking 750-825 K for it. It’s sales history is:
06/19/2007: $630,000
No other sale data is availableIf I hear one more person say “it’s a buyer’s market” I’ll puke. These houses are still grossly overpriced. We rent a pretty nice little house that would cost us twice as much to own as rent, probably more.
I’d be very interested in hearing more about what’s happening in 92104. A LOT of people bought here in the last four years, and their houses must be worth substantially less than what they paid for them…….especially the condos between University and El Cajon.
ParticipantNorth Park. I just can’t imagine that anyone would spend more than 1 million to live in North Park. But people did; here’s a house I’ve seen on craiglist for months:
http://sandiego.craigslist.org/rfs/426018044.html
Sellers paid more than a million for it. Ouch.
ParticipantNewbie
Are most of the residents at La Boheme owners, or renters? Is it relatively quiet at night? I don’t remember there being any bars in the immediate vicinity.
ParticipantI wonder if this Nautilus property is one of the homes that had homes above them come sliding down. It was a mess up there a couple years ago.
ParticipantI wonder if this Nautilus property is one of the homes that had homes above them come sliding down. It was a mess up there a couple years ago.
ParticipantI wonder if this Nautilus property is one of the homes that had homes above them come sliding down. It was a mess up there a couple years ago.
ParticipantI found this on Ben’s Blog, and it addresses my question:
“Some displaced homeowners are getting a cool reception as the surge in real estate foreclosures sends them back to the rental market in search of shelter.”
“Nevel DeHart of a national tenant-screening company, warns that homeowners often are deeply in debt by the time a foreclosure occurs. With no financial reserves to fall back on, they sometimes make poor rental risks, he said. ‘There is just no margin for error.’”
“Ron Bowdoin, who oversees 2,500 rental units in Los Angeles and the Inland Empire, said foreclosure victims often fail to meet his company’s credit standards.”
“‘As they reach the brink of foreclosure, their credit reports have suffered tremendously,’ he said. ‘We have to do a co-signer or large deposits to get them into apartments.’”
ParticipantI found this on Ben’s Blog, and it addresses my question:
“Some displaced homeowners are getting a cool reception as the surge in real estate foreclosures sends them back to the rental market in search of shelter.”
“Nevel DeHart of a national tenant-screening company, warns that homeowners often are deeply in debt by the time a foreclosure occurs. With no financial reserves to fall back on, they sometimes make poor rental risks, he said. ‘There is just no margin for error.’”
“Ron Bowdoin, who oversees 2,500 rental units in Los Angeles and the Inland Empire, said foreclosure victims often fail to meet his company’s credit standards.”
“‘As they reach the brink of foreclosure, their credit reports have suffered tremendously,’ he said. ‘We have to do a co-signer or large deposits to get them into apartments.’”
ParticipantI found this on Ben’s Blog, and it addresses my question:
“Some displaced homeowners are getting a cool reception as the surge in real estate foreclosures sends them back to the rental market in search of shelter.”
“Nevel DeHart of a national tenant-screening company, warns that homeowners often are deeply in debt by the time a foreclosure occurs. With no financial reserves to fall back on, they sometimes make poor rental risks, he said. ‘There is just no margin for error.’”
“Ron Bowdoin, who oversees 2,500 rental units in Los Angeles and the Inland Empire, said foreclosure victims often fail to meet his company’s credit standards.”
“‘As they reach the brink of foreclosure, their credit reports have suffered tremendously,’ he said. ‘We have to do a co-signer or large deposits to get them into apartments.’”
ParticipantI have been wondering about how this will play out; former home owners turning into renters. If they go bankrupt/foreclosed on their credit goes to crap, right? Everytime we’ve rented a new house the landlord runs a credit check. Will it be difficult for people with ruined credit to rent a property? How will owners of rental property/property managers view the new crop of wannabe renters with bad credit?
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