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pemeliza
ParticipantFor those looking at the low end in 92103 this is an interesting listing:
http://www.redfin.com/CA/San-Diego/3653-Jackdaw-St-92103/home/5361768
This is in a better area than the three houses on Goldfinch that I mentioned in the OP and it is on a canyon lot.
Those looking in the 400-500s have much higher quality inventory to look at then they did a few years ago in 92103.
In contrast the high end in Mission Hills seems to be finally drawing a bid with numerous 1M+ sales in the last several months.
ParticipantFor those looking at the low end in 92103 this is an interesting listing:
http://www.redfin.com/CA/San-Diego/3653-Jackdaw-St-92103/home/5361768
This is in a better area than the three houses on Goldfinch that I mentioned in the OP and it is on a canyon lot.
Those looking in the 400-500s have much higher quality inventory to look at then they did a few years ago in 92103.
In contrast the high end in Mission Hills seems to be finally drawing a bid with numerous 1M+ sales in the last several months.
ParticipantSac might be getting hit hard but how about over by the ocean in the bay area? Seems like comparing coastal to inland is apples and oranges.
PR, maybe I am getting old but when I moved to SD in 1993 to work in Sorrento Valley I remember the Wyndam Garden hotel on Mira Mesa Blvd. being the big hotel for the area. I remember when Qualcomm was building A and building B (I worked in building A programming intel 80186 assembly for a mid 30k a year starting salary). I also remember when Trilogy was being sold over in south Carmel Valley. Me and my buddies thought they were crazy to ask 250k for that stuff. It was right on top of each other and on 3 levels. Those were the days. Here we are 15-20 years later and I barely recognize the place. I would have to take a time machine back to the mid 90’s to even remotely get a feel for what the place looked like back then. The other thing I remember from the mid 90’s is that a lot of my friends hated real estate because they bought condos in UTC and were down big on them. Some of them sold at a loss and bought bigger houses in areas like the Ranch in Carlsbad. Pretty smart moves in hindsight.
ParticipantSac might be getting hit hard but how about over by the ocean in the bay area? Seems like comparing coastal to inland is apples and oranges.
PR, maybe I am getting old but when I moved to SD in 1993 to work in Sorrento Valley I remember the Wyndam Garden hotel on Mira Mesa Blvd. being the big hotel for the area. I remember when Qualcomm was building A and building B (I worked in building A programming intel 80186 assembly for a mid 30k a year starting salary). I also remember when Trilogy was being sold over in south Carmel Valley. Me and my buddies thought they were crazy to ask 250k for that stuff. It was right on top of each other and on 3 levels. Those were the days. Here we are 15-20 years later and I barely recognize the place. I would have to take a time machine back to the mid 90’s to even remotely get a feel for what the place looked like back then. The other thing I remember from the mid 90’s is that a lot of my friends hated real estate because they bought condos in UTC and were down big on them. Some of them sold at a loss and bought bigger houses in areas like the Ranch in Carlsbad. Pretty smart moves in hindsight.
ParticipantSac might be getting hit hard but how about over by the ocean in the bay area? Seems like comparing coastal to inland is apples and oranges.
PR, maybe I am getting old but when I moved to SD in 1993 to work in Sorrento Valley I remember the Wyndam Garden hotel on Mira Mesa Blvd. being the big hotel for the area. I remember when Qualcomm was building A and building B (I worked in building A programming intel 80186 assembly for a mid 30k a year starting salary). I also remember when Trilogy was being sold over in south Carmel Valley. Me and my buddies thought they were crazy to ask 250k for that stuff. It was right on top of each other and on 3 levels. Those were the days. Here we are 15-20 years later and I barely recognize the place. I would have to take a time machine back to the mid 90’s to even remotely get a feel for what the place looked like back then. The other thing I remember from the mid 90’s is that a lot of my friends hated real estate because they bought condos in UTC and were down big on them. Some of them sold at a loss and bought bigger houses in areas like the Ranch in Carlsbad. Pretty smart moves in hindsight.
ParticipantSac might be getting hit hard but how about over by the ocean in the bay area? Seems like comparing coastal to inland is apples and oranges.
PR, maybe I am getting old but when I moved to SD in 1993 to work in Sorrento Valley I remember the Wyndam Garden hotel on Mira Mesa Blvd. being the big hotel for the area. I remember when Qualcomm was building A and building B (I worked in building A programming intel 80186 assembly for a mid 30k a year starting salary). I also remember when Trilogy was being sold over in south Carmel Valley. Me and my buddies thought they were crazy to ask 250k for that stuff. It was right on top of each other and on 3 levels. Those were the days. Here we are 15-20 years later and I barely recognize the place. I would have to take a time machine back to the mid 90’s to even remotely get a feel for what the place looked like back then. The other thing I remember from the mid 90’s is that a lot of my friends hated real estate because they bought condos in UTC and were down big on them. Some of them sold at a loss and bought bigger houses in areas like the Ranch in Carlsbad. Pretty smart moves in hindsight.
ParticipantSac might be getting hit hard but how about over by the ocean in the bay area? Seems like comparing coastal to inland is apples and oranges.
PR, maybe I am getting old but when I moved to SD in 1993 to work in Sorrento Valley I remember the Wyndam Garden hotel on Mira Mesa Blvd. being the big hotel for the area. I remember when Qualcomm was building A and building B (I worked in building A programming intel 80186 assembly for a mid 30k a year starting salary). I also remember when Trilogy was being sold over in south Carmel Valley. Me and my buddies thought they were crazy to ask 250k for that stuff. It was right on top of each other and on 3 levels. Those were the days. Here we are 15-20 years later and I barely recognize the place. I would have to take a time machine back to the mid 90’s to even remotely get a feel for what the place looked like back then. The other thing I remember from the mid 90’s is that a lot of my friends hated real estate because they bought condos in UTC and were down big on them. Some of them sold at a loss and bought bigger houses in areas like the Ranch in Carlsbad. Pretty smart moves in hindsight.
ParticipantYes, it was a huge bubble but the excesses in terms of price have mostly been wrung out. The nasdaq peaked at around 5000 and is now back close to 3000 so that is 40% down from the peak. Realistically if you look at sales prices and not wish prices, 40% off peak pricing is about where we are now in housing. I have seen a few places in decent parts of Point Loma go for nearly 60% off of peak pricing but they seem like oddball deals.
At this point there still remains considerable distressed inventory but frankly how much of it is in the desirable areas? When considering interest rates the current prices seem reasonable and will be a good base to rebound off of (albeit at a more gentle pace) once the economy and job market recover.
ParticipantYes, it was a huge bubble but the excesses in terms of price have mostly been wrung out. The nasdaq peaked at around 5000 and is now back close to 3000 so that is 40% down from the peak. Realistically if you look at sales prices and not wish prices, 40% off peak pricing is about where we are now in housing. I have seen a few places in decent parts of Point Loma go for nearly 60% off of peak pricing but they seem like oddball deals.
At this point there still remains considerable distressed inventory but frankly how much of it is in the desirable areas? When considering interest rates the current prices seem reasonable and will be a good base to rebound off of (albeit at a more gentle pace) once the economy and job market recover.
ParticipantYes, it was a huge bubble but the excesses in terms of price have mostly been wrung out. The nasdaq peaked at around 5000 and is now back close to 3000 so that is 40% down from the peak. Realistically if you look at sales prices and not wish prices, 40% off peak pricing is about where we are now in housing. I have seen a few places in decent parts of Point Loma go for nearly 60% off of peak pricing but they seem like oddball deals.
At this point there still remains considerable distressed inventory but frankly how much of it is in the desirable areas? When considering interest rates the current prices seem reasonable and will be a good base to rebound off of (albeit at a more gentle pace) once the economy and job market recover.
ParticipantYes, it was a huge bubble but the excesses in terms of price have mostly been wrung out. The nasdaq peaked at around 5000 and is now back close to 3000 so that is 40% down from the peak. Realistically if you look at sales prices and not wish prices, 40% off peak pricing is about where we are now in housing. I have seen a few places in decent parts of Point Loma go for nearly 60% off of peak pricing but they seem like oddball deals.
At this point there still remains considerable distressed inventory but frankly how much of it is in the desirable areas? When considering interest rates the current prices seem reasonable and will be a good base to rebound off of (albeit at a more gentle pace) once the economy and job market recover.
ParticipantYes, it was a huge bubble but the excesses in terms of price have mostly been wrung out. The nasdaq peaked at around 5000 and is now back close to 3000 so that is 40% down from the peak. Realistically if you look at sales prices and not wish prices, 40% off peak pricing is about where we are now in housing. I have seen a few places in decent parts of Point Loma go for nearly 60% off of peak pricing but they seem like oddball deals.
At this point there still remains considerable distressed inventory but frankly how much of it is in the desirable areas? When considering interest rates the current prices seem reasonable and will be a good base to rebound off of (albeit at a more gentle pace) once the economy and job market recover.
Participant“When interest rates are sky high, you will be quite correct.”
What where interest rates in the late 80’s? I would say by today’s standards that they were sky high. Yet even in today’s ultra low interest rates, prices in decent neighborhoods have fallen so far that we are approaching late 80’s pricing.
http://www.sdlookup.com/MLS-110017384-7352_Altiva_Pl_Carlsbad_CA_92009
Price history:
06/22/2011 $680,000 24y 8m 27% 1%
09/30/1986 $535,000 10m 34% 38%
11/07/1985 $400,000 n/a – –At appears that in certain market segments buyers are getting the benefit of ultra low interest rates and low prices. In theory there probably is a relationship between interest rates and prices but this sales history suggests that it is not likely to be linear.
Participant“When interest rates are sky high, you will be quite correct.”
What where interest rates in the late 80’s? I would say by today’s standards that they were sky high. Yet even in today’s ultra low interest rates, prices in decent neighborhoods have fallen so far that we are approaching late 80’s pricing.
http://www.sdlookup.com/MLS-110017384-7352_Altiva_Pl_Carlsbad_CA_92009
Price history:
06/22/2011 $680,000 24y 8m 27% 1%
09/30/1986 $535,000 10m 34% 38%
11/07/1985 $400,000 n/a – –At appears that in certain market segments buyers are getting the benefit of ultra low interest rates and low prices. In theory there probably is a relationship between interest rates and prices but this sales history suggests that it is not likely to be linear.
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