[pemeliza]

“What areas are you seeing 2001 prices ?”

One area that is getting decimated that was holding up relatively well until now is the better streets in Mt. Helix. Here is one that is sitting on the market for under the 2001 price:

http://www.sdlookup.com/MLS-100006632-4512_Bird_Of_Paradise_Ln_La_Mesa_CA_91941

This looks like a great deal but there good be something fundamentally wrong about the house I have not seen it. But that house is not alone and in general the area is probably close to 2001 price levels even for the best streets.

I’m also seeing examples in some of the best SD city area zip codes (Pt. Loma, Mission Hills, etc.) that are getting close to those price levels especially stuff in the higher end (> 900k). But there are other examples. Here is a row home that just closed for a few thousand over the 2002 price in 92103

http://www.sdlookup.com/Property-C194A990-3133_3rd_Ave_San_Diego_CA_92103

So far this spring I have seen no indication that the downward price trend has halted in these areas so 2001 nominal pricing definitely seems like a possibility.

[pemeliza]

“What areas are you seeing 2001 prices ?”

One area that is getting decimated that was holding up relatively well until now is the better streets in Mt. Helix. Here is one that is sitting on the market for under the 2001 price:

http://www.sdlookup.com/MLS-100006632-4512_Bird_Of_Paradise_Ln_La_Mesa_CA_91941

This looks like a great deal but there good be something fundamentally wrong about the house I have not seen it. But that house is not alone and in general the area is probably close to 2001 price levels even for the best streets.

I’m also seeing examples in some of the best SD city area zip codes (Pt. Loma, Mission Hills, etc.) that are getting close to those price levels especially stuff in the higher end (> 900k). But there are other examples. Here is a row home that just closed for a few thousand over the 2002 price in 92103

http://www.sdlookup.com/Property-C194A990-3133_3rd_Ave_San_Diego_CA_92103

So far this spring I have seen no indication that the downward price trend has halted in these areas so 2001 nominal pricing definitely seems like a possibility.

[pemeliza]

“What areas are you seeing 2001 prices ?”

One area that is getting decimated that was holding up relatively well until now is the better streets in Mt. Helix. Here is one that is sitting on the market for under the 2001 price:

http://www.sdlookup.com/MLS-100006632-4512_Bird_Of_Paradise_Ln_La_Mesa_CA_91941

This looks like a great deal but there good be something fundamentally wrong about the house I have not seen it. But that house is not alone and in general the area is probably close to 2001 price levels even for the best streets.

I’m also seeing examples in some of the best SD city area zip codes (Pt. Loma, Mission Hills, etc.) that are getting close to those price levels especially stuff in the higher end (> 900k). But there are other examples. Here is a row home that just closed for a few thousand over the 2002 price in 92103

http://www.sdlookup.com/Property-C194A990-3133_3rd_Ave_San_Diego_CA_92103

So far this spring I have seen no indication that the downward price trend has halted in these areas so 2001 nominal pricing definitely seems like a possibility.

[pemeliza]

1996 was pretty much the bottom of the last bust in California and 1996 prices are nominally basically the same as 1988 prices. So in 22 years yes houses should probably be double especially given that interest rates are roughly half of what they were in the late 80’s.

Also, At 3% inflation it takes about 23.5 years for a price to double. Prices in 1996 were an overshoot to the downside. Given the scope of this bubble I would not be surprised to prices overshoot to the downside at about 2001 nominal pricing for the best areas. I’m already seeing this type of pricing in good areas.

[pemeliza]

1996 was pretty much the bottom of the last bust in California and 1996 prices are nominally basically the same as 1988 prices. So in 22 years yes houses should probably be double especially given that interest rates are roughly half of what they were in the late 80’s.

Also, At 3% inflation it takes about 23.5 years for a price to double. Prices in 1996 were an overshoot to the downside. Given the scope of this bubble I would not be surprised to prices overshoot to the downside at about 2001 nominal pricing for the best areas. I’m already seeing this type of pricing in good areas.

[pemeliza]

1996 was pretty much the bottom of the last bust in California and 1996 prices are nominally basically the same as 1988 prices. So in 22 years yes houses should probably be double especially given that interest rates are roughly half of what they were in the late 80’s.

Also, At 3% inflation it takes about 23.5 years for a price to double. Prices in 1996 were an overshoot to the downside. Given the scope of this bubble I would not be surprised to prices overshoot to the downside at about 2001 nominal pricing for the best areas. I’m already seeing this type of pricing in good areas.

[pemeliza]

1996 was pretty much the bottom of the last bust in California and 1996 prices are nominally basically the same as 1988 prices. So in 22 years yes houses should probably be double especially given that interest rates are roughly half of what they were in the late 80’s.

Also, At 3% inflation it takes about 23.5 years for a price to double. Prices in 1996 were an overshoot to the downside. Given the scope of this bubble I would not be surprised to prices overshoot to the downside at about 2001 nominal pricing for the best areas. I’m already seeing this type of pricing in good areas.

[pemeliza]

1996 was pretty much the bottom of the last bust in California and 1996 prices are nominally basically the same as 1988 prices. So in 22 years yes houses should probably be double especially given that interest rates are roughly half of what they were in the late 80’s.

Also, At 3% inflation it takes about 23.5 years for a price to double. Prices in 1996 were an overshoot to the downside. Given the scope of this bubble I would not be surprised to prices overshoot to the downside at about 2001 nominal pricing for the best areas. I’m already seeing this type of pricing in good areas.

[pemeliza]

Are you sure that was an arm’s length transaction? This one just closed on the same street and was much smaller (but probably in better condition.

http://www.sdlookup.com/MLS-090064360-5359_Channing_St_San_Diego_CA_92117

Wow, $2000-$2500 a month for that! I think that is way too high for that these days based on what I am seeing rent in my area.

[pemeliza]

Are you sure that was an arm’s length transaction? This one just closed on the same street and was much smaller (but probably in better condition.

http://www.sdlookup.com/MLS-090064360-5359_Channing_St_San_Diego_CA_92117

Wow, $2000-$2500 a month for that! I think that is way too high for that these days based on what I am seeing rent in my area.

[pemeliza]

Are you sure that was an arm’s length transaction? This one just closed on the same street and was much smaller (but probably in better condition.

http://www.sdlookup.com/MLS-090064360-5359_Channing_St_San_Diego_CA_92117

Wow, $2000-$2500 a month for that! I think that is way too high for that these days based on what I am seeing rent in my area.

[pemeliza]

Are you sure that was an arm’s length transaction? This one just closed on the same street and was much smaller (but probably in better condition.

http://www.sdlookup.com/MLS-090064360-5359_Channing_St_San_Diego_CA_92117

Wow, $2000-$2500 a month for that! I think that is way too high for that these days based on what I am seeing rent in my area.

[pemeliza]

Are you sure that was an arm’s length transaction? This one just closed on the same street and was much smaller (but probably in better condition.

http://www.sdlookup.com/MLS-090064360-5359_Channing_St_San_Diego_CA_92117

Wow, $2000-$2500 a month for that! I think that is way too high for that these days based on what I am seeing rent in my area.

[pemeliza]

Here is a nice new listing in 92024

http://www.sdlookup.com/MLS-100011921-92024

Huge lot but not much of a house and not single story.

[pemeliza]

Here is a nice new listing in 92024

http://www.sdlookup.com/MLS-100011921-92024

Huge lot but not much of a house and not single story.

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