[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.

[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]

jstoesz, that deal in La Playa seems very shady but I think the answer to your question is yes. Point Loma does indeed appear to be in a freefall at least to me and I have been monitoring the sales activity there for the last 2-3 years. As folks on this board have said for years the coast is not immune. When the short sales and REOs are selling at prices 20-30% below list prices of similar homes you know the sellers in the area have no pricing power. I would say the schools are a big factor.

[pemeliza]

jstoesz, that deal in La Playa seems very shady but I think the answer to your question is yes. Point Loma does indeed appear to be in a freefall at least to me and I have been monitoring the sales activity there for the last 2-3 years. As folks on this board have said for years the coast is not immune. When the short sales and REOs are selling at prices 20-30% below list prices of similar homes you know the sellers in the area have no pricing power. I would say the schools are a big factor.

[pemeliza]

jstoesz, that deal in La Playa seems very shady but I think the answer to your question is yes. Point Loma does indeed appear to be in a freefall at least to me and I have been monitoring the sales activity there for the last 2-3 years. As folks on this board have said for years the coast is not immune. When the short sales and REOs are selling at prices 20-30% below list prices of similar homes you know the sellers in the area have no pricing power. I would say the schools are a big factor.

[pemeliza]

jstoesz, that deal in La Playa seems very shady but I think the answer to your question is yes. Point Loma does indeed appear to be in a freefall at least to me and I have been monitoring the sales activity there for the last 2-3 years. As folks on this board have said for years the coast is not immune. When the short sales and REOs are selling at prices 20-30% below list prices of similar homes you know the sellers in the area have no pricing power. I would say the schools are a big factor.

[pemeliza]

jstoesz, that deal in La Playa seems very shady but I think the answer to your question is yes. Point Loma does indeed appear to be in a freefall at least to me and I have been monitoring the sales activity there for the last 2-3 years. As folks on this board have said for years the coast is not immune. When the short sales and REOs are selling at prices 20-30% below list prices of similar homes you know the sellers in the area have no pricing power. I would say the schools are a big factor.

[pemeliza]

To the original poster. I think that based on your criteria you probably should narrow your search to a college town in Virginia or North Carolina. The two cream of the crop college towns are Chapel Hill, NC and Charlottesville, VA. I lived in Chapel Hill for 7 years and it is the real deal. The people are extremely well educated and interesting. The schools and services in Chapel Hill are off the charts and there is now a Trader Joes and Whole Foods in the area. Home prices can be steep however but you can get a lot of bang for the buck if you are willing to fix up an older home. The other downside is that the property taxes are pretty high (I think around 1.7-1.8%) and they are based on market values with no prop. 13 like protection. While living there my property taxes almost doubled. The climate is awesome in the spring in summer, tolerable in the winter, and pretty bad in the summer especially around July and August. Lots of mosquitoes. Chapel Hill is also very well located and close to the mid size city of Durham and large city of Raleigh. I was very happy with the RDU airport and it was a 20 minute drive away. For tech type jobs you have the research triangle park around 20 miles away as well. Lots of opportunities in the medical field. Chapel Hill is also a great place to take in elite college sports events which are great for family outings. I could go on and on but you definitely should at least visit Chapel Hill.

Charlottesville is fairly close to D.C. but I think it is quite a bit more expensive than Chapel Hill. It is ridiculously beautiful. If you want to consider some areas that are lower cost but a little more isolated than I would seriously consider Blacksburg, VA and Wilmington, NC depending on whether you are into the mountains or the coast.

The east coast is a great place. I personally think staying toward the middle of the coast is your best bet due to the somewhat more moderate weather and great college town options. If your family is on the West Coast however, keep in mind that you will be making a tremendous family life sacrifice living on the other side of the country.

[pemeliza]

To the original poster. I think that based on your criteria you probably should narrow your search to a college town in Virginia or North Carolina. The two cream of the crop college towns are Chapel Hill, NC and Charlottesville, VA. I lived in Chapel Hill for 7 years and it is the real deal. The people are extremely well educated and interesting. The schools and services in Chapel Hill are off the charts and there is now a Trader Joes and Whole Foods in the area. Home prices can be steep however but you can get a lot of bang for the buck if you are willing to fix up an older home. The other downside is that the property taxes are pretty high (I think around 1.7-1.8%) and they are based on market values with no prop. 13 like protection. While living there my property taxes almost doubled. The climate is awesome in the spring in summer, tolerable in the winter, and pretty bad in the summer especially around July and August. Lots of mosquitoes. Chapel Hill is also very well located and close to the mid size city of Durham and large city of Raleigh. I was very happy with the RDU airport and it was a 20 minute drive away. For tech type jobs you have the research triangle park around 20 miles away as well. Lots of opportunities in the medical field. Chapel Hill is also a great place to take in elite college sports events which are great for family outings. I could go on and on but you definitely should at least visit Chapel Hill.

Charlottesville is fairly close to D.C. but I think it is quite a bit more expensive than Chapel Hill. It is ridiculously beautiful. If you want to consider some areas that are lower cost but a little more isolated than I would seriously consider Blacksburg, VA and Wilmington, NC depending on whether you are into the mountains or the coast.

The east coast is a great place. I personally think staying toward the middle of the coast is your best bet due to the somewhat more moderate weather and great college town options. If your family is on the West Coast however, keep in mind that you will be making a tremendous family life sacrifice living on the other side of the country.

[pemeliza]

To the original poster. I think that based on your criteria you probably should narrow your search to a college town in Virginia or North Carolina. The two cream of the crop college towns are Chapel Hill, NC and Charlottesville, VA. I lived in Chapel Hill for 7 years and it is the real deal. The people are extremely well educated and interesting. The schools and services in Chapel Hill are off the charts and there is now a Trader Joes and Whole Foods in the area. Home prices can be steep however but you can get a lot of bang for the buck if you are willing to fix up an older home. The other downside is that the property taxes are pretty high (I think around 1.7-1.8%) and they are based on market values with no prop. 13 like protection. While living there my property taxes almost doubled. The climate is awesome in the spring in summer, tolerable in the winter, and pretty bad in the summer especially around July and August. Lots of mosquitoes. Chapel Hill is also very well located and close to the mid size city of Durham and large city of Raleigh. I was very happy with the RDU airport and it was a 20 minute drive away. For tech type jobs you have the research triangle park around 20 miles away as well. Lots of opportunities in the medical field. Chapel Hill is also a great place to take in elite college sports events which are great for family outings. I could go on and on but you definitely should at least visit Chapel Hill.

Charlottesville is fairly close to D.C. but I think it is quite a bit more expensive than Chapel Hill. It is ridiculously beautiful. If you want to consider some areas that are lower cost but a little more isolated than I would seriously consider Blacksburg, VA and Wilmington, NC depending on whether you are into the mountains or the coast.

The east coast is a great place. I personally think staying toward the middle of the coast is your best bet due to the somewhat more moderate weather and great college town options. If your family is on the West Coast however, keep in mind that you will be making a tremendous family life sacrifice living on the other side of the country.

[pemeliza]

To the original poster. I think that based on your criteria you probably should narrow your search to a college town in Virginia or North Carolina. The two cream of the crop college towns are Chapel Hill, NC and Charlottesville, VA. I lived in Chapel Hill for 7 years and it is the real deal. The people are extremely well educated and interesting. The schools and services in Chapel Hill are off the charts and there is now a Trader Joes and Whole Foods in the area. Home prices can be steep however but you can get a lot of bang for the buck if you are willing to fix up an older home. The other downside is that the property taxes are pretty high (I think around 1.7-1.8%) and they are based on market values with no prop. 13 like protection. While living there my property taxes almost doubled. The climate is awesome in the spring in summer, tolerable in the winter, and pretty bad in the summer especially around July and August. Lots of mosquitoes. Chapel Hill is also very well located and close to the mid size city of Durham and large city of Raleigh. I was very happy with the RDU airport and it was a 20 minute drive away. For tech type jobs you have the research triangle park around 20 miles away as well. Lots of opportunities in the medical field. Chapel Hill is also a great place to take in elite college sports events which are great for family outings. I could go on and on but you definitely should at least visit Chapel Hill.

Charlottesville is fairly close to D.C. but I think it is quite a bit more expensive than Chapel Hill. It is ridiculously beautiful. If you want to consider some areas that are lower cost but a little more isolated than I would seriously consider Blacksburg, VA and Wilmington, NC depending on whether you are into the mountains or the coast.

The east coast is a great place. I personally think staying toward the middle of the coast is your best bet due to the somewhat more moderate weather and great college town options. If your family is on the West Coast however, keep in mind that you will be making a tremendous family life sacrifice living on the other side of the country.

[pemeliza]

To the original poster. I think that based on your criteria you probably should narrow your search to a college town in Virginia or North Carolina. The two cream of the crop college towns are Chapel Hill, NC and Charlottesville, VA. I lived in Chapel Hill for 7 years and it is the real deal. The people are extremely well educated and interesting. The schools and services in Chapel Hill are off the charts and there is now a Trader Joes and Whole Foods in the area. Home prices can be steep however but you can get a lot of bang for the buck if you are willing to fix up an older home. The other downside is that the property taxes are pretty high (I think around 1.7-1.8%) and they are based on market values with no prop. 13 like protection. While living there my property taxes almost doubled. The climate is awesome in the spring in summer, tolerable in the winter, and pretty bad in the summer especially around July and August. Lots of mosquitoes. Chapel Hill is also very well located and close to the mid size city of Durham and large city of Raleigh. I was very happy with the RDU airport and it was a 20 minute drive away. For tech type jobs you have the research triangle park around 20 miles away as well. Lots of opportunities in the medical field. Chapel Hill is also a great place to take in elite college sports events which are great for family outings. I could go on and on but you definitely should at least visit Chapel Hill.

Charlottesville is fairly close to D.C. but I think it is quite a bit more expensive than Chapel Hill. It is ridiculously beautiful. If you want to consider some areas that are lower cost but a little more isolated than I would seriously consider Blacksburg, VA and Wilmington, NC depending on whether you are into the mountains or the coast.

The east coast is a great place. I personally think staying toward the middle of the coast is your best bet due to the somewhat more moderate weather and great college town options. If your family is on the West Coast however, keep in mind that you will be making a tremendous family life sacrifice living on the other side of the country.

[pemeliza]

“Thanks for all the suggestions and EconProf is right that you need to stick to your guns and keep reminding them that it was an open market arms lenght transaction along with a few comps to support.”

Ultimately this is what worked for me as well. In my situation they were only 150k above my purchase price and they ended up going down to the purchase price.

It sounds like you got a great deal on the house and as you said probably a decent compromise from the appraiser. Still, you may be able to get them to come down to the purchase price if you can find enough comparable sales evidence. Good luck.

[pemeliza]

“Thanks for all the suggestions and EconProf is right that you need to stick to your guns and keep reminding them that it was an open market arms lenght transaction along with a few comps to support.”

Ultimately this is what worked for me as well. In my situation they were only 150k above my purchase price and they ended up going down to the purchase price.

It sounds like you got a great deal on the house and as you said probably a decent compromise from the appraiser. Still, you may be able to get them to come down to the purchase price if you can find enough comparable sales evidence. Good luck.

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