[pemeliza]

Looks 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.

[pemeliza]

Looks 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.

[pemeliza]

Looks 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.

[pemeliza]

“The second, Pringle Hill listing is striking and the view is great for that area. The buyers who got that one for $650K were lucky.”

I agree, this is one of the best deals I have seen in a while but then again not that much is selling these days. The question is did the seller panic or has the market actually moved down to that level? Honestly I have been over the recent sales in the area and I don’t see anything resembling that deal especially when considering the view. In any market, it is always possible that a deal will happen at a below market price and that may be what happened here. They took $75k below their lowered asking price of $725k shortly after two large price reductions so they were obviously very motivated at the end:

Price Reduced: 08/02/2010 from $829,000 to $725,000
Price Reduced: 07/20/2010 from $899,000 to $829,000

[pemeliza]

“The second, Pringle Hill listing is striking and the view is great for that area. The buyers who got that one for $650K were lucky.”

I agree, this is one of the best deals I have seen in a while but then again not that much is selling these days. The question is did the seller panic or has the market actually moved down to that level? Honestly I have been over the recent sales in the area and I don’t see anything resembling that deal especially when considering the view. In any market, it is always possible that a deal will happen at a below market price and that may be what happened here. They took $75k below their lowered asking price of $725k shortly after two large price reductions so they were obviously very motivated at the end:

Price Reduced: 08/02/2010 from $829,000 to $725,000
Price Reduced: 07/20/2010 from $899,000 to $829,000

[pemeliza]

“The second, Pringle Hill listing is striking and the view is great for that area. The buyers who got that one for $650K were lucky.”

I agree, this is one of the best deals I have seen in a while but then again not that much is selling these days. The question is did the seller panic or has the market actually moved down to that level? Honestly I have been over the recent sales in the area and I don’t see anything resembling that deal especially when considering the view. In any market, it is always possible that a deal will happen at a below market price and that may be what happened here. They took $75k below their lowered asking price of $725k shortly after two large price reductions so they were obviously very motivated at the end:

Price Reduced: 08/02/2010 from $829,000 to $725,000
Price Reduced: 07/20/2010 from $899,000 to $829,000

[pemeliza]

“The second, Pringle Hill listing is striking and the view is great for that area. The buyers who got that one for $650K were lucky.”

I agree, this is one of the best deals I have seen in a while but then again not that much is selling these days. The question is did the seller panic or has the market actually moved down to that level? Honestly I have been over the recent sales in the area and I don’t see anything resembling that deal especially when considering the view. In any market, it is always possible that a deal will happen at a below market price and that may be what happened here. They took $75k below their lowered asking price of $725k shortly after two large price reductions so they were obviously very motivated at the end:

Price Reduced: 08/02/2010 from $829,000 to $725,000
Price Reduced: 07/20/2010 from $899,000 to $829,000

[pemeliza]

“The second, Pringle Hill listing is striking and the view is great for that area. The buyers who got that one for $650K were lucky.”

I agree, this is one of the best deals I have seen in a while but then again not that much is selling these days. The question is did the seller panic or has the market actually moved down to that level? Honestly I have been over the recent sales in the area and I don’t see anything resembling that deal especially when considering the view. In any market, it is always possible that a deal will happen at a below market price and that may be what happened here. They took $75k below their lowered asking price of $725k shortly after two large price reductions so they were obviously very motivated at the end:

Price Reduced: 08/02/2010 from $829,000 to $725,000
Price Reduced: 07/20/2010 from $899,000 to $829,000

[pemeliza]

“Also, 1802 Puterbaugh sold for 650k. Last year it was listed for 995k.

I personally like these old houses and while just slightly out of my price range, I have a question. If this is a trend and places like these start selling for 600k, then what will happen to the shacks that are now selling for 600k? I think CAR is right and there will be a squish down compression.”

JP, I agree with you. I have been saying for some time that Mission Hills has come down in price to the point where the premium over houses in neighboring areas such as NP and KEN has practically evaporated. I think it is a good time to buy in MH if you can find a deal.

I thought of you, JP, when I saw this house listed

http://www.sdlookup.com/MLS-100056357-4164_Ibis_St_San_Diego_CA_92103

I know you were looking for a nice big lot to garden in. That is a nice hood but the house is pretty small and probably needs a lot of work.

[pemeliza]

“Also, 1802 Puterbaugh sold for 650k. Last year it was listed for 995k.

I personally like these old houses and while just slightly out of my price range, I have a question. If this is a trend and places like these start selling for 600k, then what will happen to the shacks that are now selling for 600k? I think CAR is right and there will be a squish down compression.”

JP, I agree with you. I have been saying for some time that Mission Hills has come down in price to the point where the premium over houses in neighboring areas such as NP and KEN has practically evaporated. I think it is a good time to buy in MH if you can find a deal.

I thought of you, JP, when I saw this house listed

http://www.sdlookup.com/MLS-100056357-4164_Ibis_St_San_Diego_CA_92103

I know you were looking for a nice big lot to garden in. That is a nice hood but the house is pretty small and probably needs a lot of work.

[pemeliza]

“Also, 1802 Puterbaugh sold for 650k. Last year it was listed for 995k.

I personally like these old houses and while just slightly out of my price range, I have a question. If this is a trend and places like these start selling for 600k, then what will happen to the shacks that are now selling for 600k? I think CAR is right and there will be a squish down compression.”

JP, I agree with you. I have been saying for some time that Mission Hills has come down in price to the point where the premium over houses in neighboring areas such as NP and KEN has practically evaporated. I think it is a good time to buy in MH if you can find a deal.

I thought of you, JP, when I saw this house listed

http://www.sdlookup.com/MLS-100056357-4164_Ibis_St_San_Diego_CA_92103

I know you were looking for a nice big lot to garden in. That is a nice hood but the house is pretty small and probably needs a lot of work.

[pemeliza]

“Also, 1802 Puterbaugh sold for 650k. Last year it was listed for 995k.

I personally like these old houses and while just slightly out of my price range, I have a question. If this is a trend and places like these start selling for 600k, then what will happen to the shacks that are now selling for 600k? I think CAR is right and there will be a squish down compression.”

JP, I agree with you. I have been saying for some time that Mission Hills has come down in price to the point where the premium over houses in neighboring areas such as NP and KEN has practically evaporated. I think it is a good time to buy in MH if you can find a deal.

I thought of you, JP, when I saw this house listed

http://www.sdlookup.com/MLS-100056357-4164_Ibis_St_San_Diego_CA_92103

I know you were looking for a nice big lot to garden in. That is a nice hood but the house is pretty small and probably needs a lot of work.

[pemeliza]

“Also, 1802 Puterbaugh sold for 650k. Last year it was listed for 995k.

I personally like these old houses and while just slightly out of my price range, I have a question. If this is a trend and places like these start selling for 600k, then what will happen to the shacks that are now selling for 600k? I think CAR is right and there will be a squish down compression.”

JP, I agree with you. I have been saying for some time that Mission Hills has come down in price to the point where the premium over houses in neighboring areas such as NP and KEN has practically evaporated. I think it is a good time to buy in MH if you can find a deal.

I thought of you, JP, when I saw this house listed

http://www.sdlookup.com/MLS-100056357-4164_Ibis_St_San_Diego_CA_92103

I know you were looking for a nice big lot to garden in. That is a nice hood but the house is pretty small and probably needs a lot of work.

[pemeliza]

I am of the opinion that we will see plenty of sales at 2000-2001 prices in all areas of San Diego. The real question is how many prime properties will sell for those prices and will they sell in a fair and open market transaction where every willing and able buyer has a chance to bid.

[pemeliza]

I am of the opinion that we will see plenty of sales at 2000-2001 prices in all areas of San Diego. The real question is how many prime properties will sell for those prices and will they sell in a fair and open market transaction where every willing and able buyer has a chance to bid.

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