Same. Crazy to think some of the original owners in MM may not even be paying $1,000/yr in property tax. While those moving in are paying $1,000/mo. Talk about golden handcuffs!
Pull out as much cash as you can with a new mortgage. Build an ADU in the back. And live large in St. Thomas with the rest. When you run out of cash, move back into the ADU and keep renting the main home. Win-Win.
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If you had told me 10 years ago one of the standard models in Mira Mesa would sell for $1m…
I hope there’s a pop in inventory some time in the next few years to provide another buying opportunity in this area, because I definitely agree with these comments about the long term outlook. 3Roots doesn’t appear to be that pop of inventory since they’re already spoken for. Maybe it’s when the last remaining original owner holdouts move out.
Will 3Roots have any impact on pricing in “old” Mira Mesa?
My thoughts are, no. There are 14k people on the waitlist. People who don’t get in to 3Roots won’t have old Mira Mesa as their backup plan. Also, I don’t see a mass exodus from old Mira Mesa, to new Mira Mesa because why pay more in property tax and HOA.
