[pemeliza]

Thanks for posting those listings sdr.

There have been a few here and there in the 400’s but mostly distressed sales of some type or houses with major I-5 road noise or other issues. The one at 4120 Front gets a lot of medical center traffic and noise.

I think if Goldfinch sells for list price I would not be surprised if a 3 bedroom in a “prime” location such as

http://www.zillow.com/homedetails/1629-W-Montecito-Way-San-Diego-CA-92103/16951765_zpid/

drops into the high 400’s at some point over the winter. That would represent a major market shift.

[pemeliza]

Thanks for posting those listings sdr.

There have been a few here and there in the 400’s but mostly distressed sales of some type or houses with major I-5 road noise or other issues. The one at 4120 Front gets a lot of medical center traffic and noise.

I think if Goldfinch sells for list price I would not be surprised if a 3 bedroom in a “prime” location such as

http://www.zillow.com/homedetails/1629-W-Montecito-Way-San-Diego-CA-92103/16951765_zpid/

drops into the high 400’s at some point over the winter. That would represent a major market shift.

[pemeliza]

Thanks for posting those listings sdr.

There have been a few here and there in the 400’s but mostly distressed sales of some type or houses with major I-5 road noise or other issues. The one at 4120 Front gets a lot of medical center traffic and noise.

I think if Goldfinch sells for list price I would not be surprised if a 3 bedroom in a “prime” location such as

http://www.zillow.com/homedetails/1629-W-Montecito-Way-San-Diego-CA-92103/16951765_zpid/

drops into the high 400’s at some point over the winter. That would represent a major market shift.

[pemeliza]

sdr, as far as I could tell there have not been any sales solidly into the mid 4’s for 3 bedrooms on one level in that part of 92103 other than the REO that just closed at 465k last month. I did see the REO you mentioned that closed for 521k but left it out of my original analysis because it had the extra bedroom and was not a one story bungalow.

BG, I agree I would take something on Goldfinch in a heartbeat over a comparable property in North Park or University Heights.

[pemeliza]

sdr, as far as I could tell there have not been any sales solidly into the mid 4’s for 3 bedrooms on one level in that part of 92103 other than the REO that just closed at 465k last month. I did see the REO you mentioned that closed for 521k but left it out of my original analysis because it had the extra bedroom and was not a one story bungalow.

BG, I agree I would take something on Goldfinch in a heartbeat over a comparable property in North Park or University Heights.

[pemeliza]

sdr, as far as I could tell there have not been any sales solidly into the mid 4’s for 3 bedrooms on one level in that part of 92103 other than the REO that just closed at 465k last month. I did see the REO you mentioned that closed for 521k but left it out of my original analysis because it had the extra bedroom and was not a one story bungalow.

BG, I agree I would take something on Goldfinch in a heartbeat over a comparable property in North Park or University Heights.

[pemeliza]

sdr, as far as I could tell there have not been any sales solidly into the mid 4’s for 3 bedrooms on one level in that part of 92103 other than the REO that just closed at 465k last month. I did see the REO you mentioned that closed for 521k but left it out of my original analysis because it had the extra bedroom and was not a one story bungalow.

BG, I agree I would take something on Goldfinch in a heartbeat over a comparable property in North Park or University Heights.

[pemeliza]

sdr, as far as I could tell there have not been any sales solidly into the mid 4’s for 3 bedrooms on one level in that part of 92103 other than the REO that just closed at 465k last month. I did see the REO you mentioned that closed for 521k but left it out of my original analysis because it had the extra bedroom and was not a one story bungalow.

BG, I agree I would take something on Goldfinch in a heartbeat over a comparable property in North Park or University Heights.

[pemeliza]

BG, I agree with what you said about boundaries and that in particular North Mission Hills is different than the area these houses are located. I am not worried about the value of our house because we bought it for retirement … perhaps my kids will one day care about the value after I am gone 🙂

I keep up with the market around 92103 (although I am certainly no expert) and thought I would share my findings for those interested in how things at the low end of the price spectrum are going. We tend to talk about the high end a lot on this blog.

[pemeliza]

BG, I agree with what you said about boundaries and that in particular North Mission Hills is different than the area these houses are located. I am not worried about the value of our house because we bought it for retirement … perhaps my kids will one day care about the value after I am gone 🙂

I keep up with the market around 92103 (although I am certainly no expert) and thought I would share my findings for those interested in how things at the low end of the price spectrum are going. We tend to talk about the high end a lot on this blog.

[pemeliza]

BG, I agree with what you said about boundaries and that in particular North Mission Hills is different than the area these houses are located. I am not worried about the value of our house because we bought it for retirement … perhaps my kids will one day care about the value after I am gone 🙂

I keep up with the market around 92103 (although I am certainly no expert) and thought I would share my findings for those interested in how things at the low end of the price spectrum are going. We tend to talk about the high end a lot on this blog.

[pemeliza]

BG, I agree with what you said about boundaries and that in particular North Mission Hills is different than the area these houses are located. I am not worried about the value of our house because we bought it for retirement … perhaps my kids will one day care about the value after I am gone 🙂

I keep up with the market around 92103 (although I am certainly no expert) and thought I would share my findings for those interested in how things at the low end of the price spectrum are going. We tend to talk about the high end a lot on this blog.

[pemeliza]

BG, I agree with what you said about boundaries and that in particular North Mission Hills is different than the area these houses are located. I am not worried about the value of our house because we bought it for retirement … perhaps my kids will one day care about the value after I am gone 🙂

I keep up with the market around 92103 (although I am certainly no expert) and thought I would share my findings for those interested in how things at the low end of the price spectrum are going. We tend to talk about the high end a lot on this blog.

[pemeliza]

BG, from what I could tell on google drive-by maps there is a one car garage behind the house coming off of Sutter. The lot size on the new listing is 4560 sf which is about the same as the others.

The bottom line IMHO is that if this house sells for 465k, then the market for low end properties in Mission Hills has moved down rather sharply since February (perhaps 10% or more). If it sits on the market at 465k then we have very clear evidence that the market has weakened substantially even at the low end of the price spectrum.

[pemeliza]

BG, from what I could tell on google drive-by maps there is a one car garage behind the house coming off of Sutter. The lot size on the new listing is 4560 sf which is about the same as the others.

The bottom line IMHO is that if this house sells for 465k, then the market for low end properties in Mission Hills has moved down rather sharply since February (perhaps 10% or more). If it sits on the market at 465k then we have very clear evidence that the market has weakened substantially even at the low end of the price spectrum.

[Author]

Posts