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[quote=an]https://www.redfin.com/CA/San-Diego/10484-Flanders-Pl-92126/home/6398700

Closed at $1.51m, $310k above asking.[/quote]

20 days closing. It looks like a cash buyer also.

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[quote=limkotir]8576 Andromeda Rd

https://www.coldwellbankerhomes.com/ca/san-diego/8576-andromeda-rd/pid_45743569/
(Contains the old pic of the house)
Sold for $750K on 2/10/2022

https://www.redfin.com/CA/San-Diego/8576-Andromeda-Rd-92126/home/4527421
(Contains the new flip job pics)
Will list for $1.374m this Sat (~40 days later) with a flip job. Probably will sell around that price.

This is what people are battling in older neighborhoods such as MM.[/quote]

The flip cost won’t be more than 200K, so flipping old house in MM sounds a profitable business at least for this case.

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deleted without proper quoting.

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[quote=sdrealtor][quote=oceanbreeze]I paid $100K over asking for a Mira Mesa property I acquired back to Jan. At that time I felt pressure of low inventory and rising interest rate, so just told my agent to compete with other offers no matter what.[/quote]

Congrats and best of luck in your home[/quote]

Thanks. I rented it out with 5% annual return rate. This is not bad. I think in 2021 and beginning of 2022 (before rate hike), 92126 is the rare zip code along 56 corridor still investable.

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I paid $100K over asking for a Mira Mesa property I acquired back to Jan. At that time I felt pressure of low inventory and rising interest rate, so just told my agent to compete with other offers no matter what.

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agreed. but you can pay off MR for solanna beach school district, i.e. PHR homes.

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I paid off MR in PUSD 6 years ago. I was lucky to pay off MR when bond interest rate was high, so the pay off amount is much smaller compared to right now, because MR authority most likely refined more debt w/ much lower interest rate.

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Escoguy,

I noticed that $2900-$3200 range house rented out pretty fast in the meanwhile I listed my house in 4S ranch. The link is not mine, instead I sent you a private message including the link of my house.

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Thanks for advice. I also suspect it’s the timing. I’m currently cutting the price in hope to attract more potential tenants.

[quote=flyer]We have many rentals–SFH’s and other–in CV and elsewhere, and rarely have vacancies. That said, I think your only real problem right now is the timing.

From my experience, and that of friends, this time of the year, with the school year upon us, and going into the holidays, can be a somewhat difficult time to find buyers or renters–especially for SFH’s in certain areas.

Hopefully, that will, once again, change again in the Spring. Don’t want to give advice, but, if it were me, I’d probably wait until then to make a decision.[/quote]

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My house sqf. is little bit over 3000, my neighbor rented 2900 sqf house with $4000 rental without problem in summer. If people chose buying the house, besides the big chunk of down payment, the monthly cost would be around $4200 (mortgage, tax, hoa etc.). For high price rental house, the credit and income check is more strict, so I rejected some applicants due to that sake.

[quote=bullishgurl][quote=maoing]So it’s not wise to keep big house as rental? I’m contacting listing agent too to sell the house if the renting is so hard. I don’t think that’s the price issue though because none wants to negotiate price to me. But lowering the price to next bracket certainly will help attract more tenants. It’s mainly the tenant pool issue which running thin sharply after summer.[/quote]

I think most people who move with families do so before school starts. Also, I don’t how good the job market is in RB/4s.

I use to work in RB, and if I remember the tech corridor there had a lot of downsizing. Broadcom is down from occupying 4 buildings to 1, Sony trimmed a lot of employees there, so did Nokia, Microsoft, Yahoo. And there were a lot of cuts to BAE and other defense company is there. But I haven’t been back there for awhile, do wouldn’t be able to tell you what’s going on right now in the tech area there.

If you don’t mind me asking, how much for rent and what is the square footage?

Right now 2600sqft in Carmel Valley won’t have a problem fetching $4000/month for rent.

I don’t think it’s a problem with the high price of rental, because some people.can afford the payments. They just can’t come up with the down payment for a loan.[/quote]

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So it’s not wise to keep big house as rental? I’m contacting listing agent too to sell the house if the renting is so hard. I don’t think that’s the price issue though because none wants to negotiate price to me. But lowering the price to next bracket certainly will help attract more tenants. It’s mainly the tenant pool issue which running thin sharply after summer.

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I paid off my 4S mello roos back to 2011, it’s about 11 years payment at that time. So far it’s been 5 years, so I think it’s a good investment for the sake of long term as I’m sure I need continue to pay another 30 years if I didn’t do so.

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High MR in 4S is true, but it also drags down the price, so you end up paying less property tax. For the people with more cash, you can choose to pay off MR, which is many 4S new home buyers are currently doing. The payoff amount is not that bad, for a $5000/year MR home, the payoff amount is about $50K. I know a lot of 4S families have AMT triggered for their tax return, so MR or even property tax is not tax deductible anyway.

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Promimity to Qualcomm main campus plays an important role in CV price, especially for the family with young kids.

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Promimity to Qualcomm main campus plays an important role in CV price, especially for the family with young kids.

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