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pemeliza
Participant“For those MH experts out there, I have a question for you guys/gals. Because I don’t know MH that well, maybe you guys can enlighten me. What’s so special about MH that makes it so expensive? In my eyes, it might even be more expensive than LJ. Here are two examples, one in MH and one in LJ.
http://www.sdlookup.com/MLS-100063461-18…
1588 sq-ft on 4100 sq-ft lot w/ no view.http://www.sdlookup.com/MLS-100027762-56…
2593 sq-ft w/ Canyon view.”I am no expert but I do live in MH and I think these are apples to oranges comparisons. The La Jolla listing is a major tract development that is not within walking distance to anything. While the MH listing is on a prime street that is very walkable and located within a stones throw of virtually everything that makes SD great. In that part of MH the pride of ownership is striking. I encourage you to come down and walk the streets there really isn’t much else like it in SD county.
Finally, that listing in MH is priced too high for today’s market.I think if you want a better comparison to the MH home I would start looking at perhaps La Jolla Village or Coronado village. Admittedly they are both closer to the ocean but the feel of the neighborhoods is going to be much more similar to north Mission Hills. Frankly, I strongly prefer MH to either of the other villages because although they are closer to the ocean, getting in and out of La Jolla and Coronado is a major PITA while MH has nearly instant freeway access.
Here is a much better apples to apples comparison in La Jolla for example to the MH listing:
http://www.sdlookup.com/MLS-100054186-750_Genter_St_La_Jolla_CA_92037
Here is one in Coronado:
http://www.sdlookup.com/MLS-100052362-467_A_Ave_Coronado_CA_92118
Participant“For those MH experts out there, I have a question for you guys/gals. Because I don’t know MH that well, maybe you guys can enlighten me. What’s so special about MH that makes it so expensive? In my eyes, it might even be more expensive than LJ. Here are two examples, one in MH and one in LJ.
http://www.sdlookup.com/MLS-100063461-18…
1588 sq-ft on 4100 sq-ft lot w/ no view.http://www.sdlookup.com/MLS-100027762-56…
2593 sq-ft w/ Canyon view.”I am no expert but I do live in MH and I think these are apples to oranges comparisons. The La Jolla listing is a major tract development that is not within walking distance to anything. While the MH listing is on a prime street that is very walkable and located within a stones throw of virtually everything that makes SD great. In that part of MH the pride of ownership is striking. I encourage you to come down and walk the streets there really isn’t much else like it in SD county.
Finally, that listing in MH is priced too high for today’s market.I think if you want a better comparison to the MH home I would start looking at perhaps La Jolla Village or Coronado village. Admittedly they are both closer to the ocean but the feel of the neighborhoods is going to be much more similar to north Mission Hills. Frankly, I strongly prefer MH to either of the other villages because although they are closer to the ocean, getting in and out of La Jolla and Coronado is a major PITA while MH has nearly instant freeway access.
Here is a much better apples to apples comparison in La Jolla for example to the MH listing:
http://www.sdlookup.com/MLS-100054186-750_Genter_St_La_Jolla_CA_92037
Here is one in Coronado:
http://www.sdlookup.com/MLS-100052362-467_A_Ave_Coronado_CA_92118
ParticipantAN, certain areas did appreciate faster since 1986 than others. Look at La Jolla for a striking example.
ParticipantAN, certain areas did appreciate faster since 1986 than others. Look at La Jolla for a striking example.
ParticipantAN, certain areas did appreciate faster since 1986 than others. Look at La Jolla for a striking example.
ParticipantAN, certain areas did appreciate faster since 1986 than others. Look at La Jolla for a striking example.
ParticipantAN, certain areas did appreciate faster since 1986 than others. Look at La Jolla for a striking example.
ParticipantGlad to see all talk about MH. zzz, are you talking about:
http://www.sdlookup.com/MLS-100060115-1256_Upas_St_San_Diego_CA_92103
Love that area but I still like north MH a little better. To add a bit to the MH strength of hands argument. I live in a pocket of homes in north MH that is full of family pass downs. Lots of $2M peak valued homes with tax values under 200k. The houses are probably worth low 1M$ now and I suppose if someone needed out they would sell for that because they have equity. On the other hand, the annual taxes are under $2000. Even houses that sold at the peak for $2M seem to be in very strong hands and the buyers put very large downpayments down. Also, many of the homes that sold in the last 10 years have been restored and have the Mills Act in place resulting in low property taxes. Yes, there are some people that got in over their head but many of those properties have already sold as REOs over the last couple of years, many over list price with bidding wars. Still the market is certainly not strong by any stretch and still very vulnerable given the current economy. In all I think it is a good time to try to find a deal in MH but you will likely not be the only buyer looking as zzz points out.
ParticipantGlad to see all talk about MH. zzz, are you talking about:
http://www.sdlookup.com/MLS-100060115-1256_Upas_St_San_Diego_CA_92103
Love that area but I still like north MH a little better. To add a bit to the MH strength of hands argument. I live in a pocket of homes in north MH that is full of family pass downs. Lots of $2M peak valued homes with tax values under 200k. The houses are probably worth low 1M$ now and I suppose if someone needed out they would sell for that because they have equity. On the other hand, the annual taxes are under $2000. Even houses that sold at the peak for $2M seem to be in very strong hands and the buyers put very large downpayments down. Also, many of the homes that sold in the last 10 years have been restored and have the Mills Act in place resulting in low property taxes. Yes, there are some people that got in over their head but many of those properties have already sold as REOs over the last couple of years, many over list price with bidding wars. Still the market is certainly not strong by any stretch and still very vulnerable given the current economy. In all I think it is a good time to try to find a deal in MH but you will likely not be the only buyer looking as zzz points out.
ParticipantGlad to see all talk about MH. zzz, are you talking about:
http://www.sdlookup.com/MLS-100060115-1256_Upas_St_San_Diego_CA_92103
Love that area but I still like north MH a little better. To add a bit to the MH strength of hands argument. I live in a pocket of homes in north MH that is full of family pass downs. Lots of $2M peak valued homes with tax values under 200k. The houses are probably worth low 1M$ now and I suppose if someone needed out they would sell for that because they have equity. On the other hand, the annual taxes are under $2000. Even houses that sold at the peak for $2M seem to be in very strong hands and the buyers put very large downpayments down. Also, many of the homes that sold in the last 10 years have been restored and have the Mills Act in place resulting in low property taxes. Yes, there are some people that got in over their head but many of those properties have already sold as REOs over the last couple of years, many over list price with bidding wars. Still the market is certainly not strong by any stretch and still very vulnerable given the current economy. In all I think it is a good time to try to find a deal in MH but you will likely not be the only buyer looking as zzz points out.
ParticipantGlad to see all talk about MH. zzz, are you talking about:
http://www.sdlookup.com/MLS-100060115-1256_Upas_St_San_Diego_CA_92103
Love that area but I still like north MH a little better. To add a bit to the MH strength of hands argument. I live in a pocket of homes in north MH that is full of family pass downs. Lots of $2M peak valued homes with tax values under 200k. The houses are probably worth low 1M$ now and I suppose if someone needed out they would sell for that because they have equity. On the other hand, the annual taxes are under $2000. Even houses that sold at the peak for $2M seem to be in very strong hands and the buyers put very large downpayments down. Also, many of the homes that sold in the last 10 years have been restored and have the Mills Act in place resulting in low property taxes. Yes, there are some people that got in over their head but many of those properties have already sold as REOs over the last couple of years, many over list price with bidding wars. Still the market is certainly not strong by any stretch and still very vulnerable given the current economy. In all I think it is a good time to try to find a deal in MH but you will likely not be the only buyer looking as zzz points out.
ParticipantGlad to see all talk about MH. zzz, are you talking about:
http://www.sdlookup.com/MLS-100060115-1256_Upas_St_San_Diego_CA_92103
Love that area but I still like north MH a little better. To add a bit to the MH strength of hands argument. I live in a pocket of homes in north MH that is full of family pass downs. Lots of $2M peak valued homes with tax values under 200k. The houses are probably worth low 1M$ now and I suppose if someone needed out they would sell for that because they have equity. On the other hand, the annual taxes are under $2000. Even houses that sold at the peak for $2M seem to be in very strong hands and the buyers put very large downpayments down. Also, many of the homes that sold in the last 10 years have been restored and have the Mills Act in place resulting in low property taxes. Yes, there are some people that got in over their head but many of those properties have already sold as REOs over the last couple of years, many over list price with bidding wars. Still the market is certainly not strong by any stretch and still very vulnerable given the current economy. In all I think it is a good time to try to find a deal in MH but you will likely not be the only buyer looking as zzz points out.
ParticipantLooks like the bond rout is finally on. Not good for real estate, which I own, but I am very happy to see the clowns holding long term treasuries finally taking a few hits for a change.
sdrealtor, as far as your coastal deal that is 150k+ below market, remember that today’s screaming deal is tomorrows comp. I have seen this happen now time and time again. In a market where no buyer wants to pay as much as the last guy, these kind of “killer deals” eventually have a way of bringing down prices. Until the buyer psychology shifts I see this trend continuing. The recent moon launch in interest rates isn’t going to help much with the psychology especially at the mid to high end where buyers are less likely to “panic” and lock in before rates go higher.
ParticipantLooks like the bond rout is finally on. Not good for real estate, which I own, but I am very happy to see the clowns holding long term treasuries finally taking a few hits for a change.
sdrealtor, as far as your coastal deal that is 150k+ below market, remember that today’s screaming deal is tomorrows comp. I have seen this happen now time and time again. In a market where no buyer wants to pay as much as the last guy, these kind of “killer deals” eventually have a way of bringing down prices. Until the buyer psychology shifts I see this trend continuing. The recent moon launch in interest rates isn’t going to help much with the psychology especially at the mid to high end where buyers are less likely to “panic” and lock in before rates go higher.
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