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  • February 11, 2008 at 5:25 PM in reply to: 32 offers or more in 3 days on a single property #151950
    SD Realtor
    Participant

    Personally I don’t see many “deals” with respect to properties that pencil out as a rental yet. I have seen a few pretty aggressively priced SFH homes in Mira Mesa that could indeed pencil out if they actually went for the pricing in the original listing.

    I am pretty sure you were addressing sdrealtor on the price point question for the new paradigm. As for my price point question, I don’t have an answer for that. People who are buying that work with me often ask me what I “would pay” for this or that house and I am honest with them and tell them I am renting. I tell them that I am looking in a lowballish manner for certain homes in Scripps but that none of my lowballs have been accepted and that if it were only about money I wouldn’t be looking now at all.

    As far as price point for rental property? Well it depends. Different people have different criteria. I am not sure what someone like Surveyor uses for his numbers. I would imagine if I could get a property for 10% down and it cash flowed a few percent I would have to seriously consider it depending on the neighborhood. I don’t see anything like that in San Diego but eventually pricing will get there.

    SD Realtor

    February 11, 2008 at 5:25 PM in reply to: 32 offers or more in 3 days on a single property #151952
    SD Realtor
    Participant

    Personally I don’t see many “deals” with respect to properties that pencil out as a rental yet. I have seen a few pretty aggressively priced SFH homes in Mira Mesa that could indeed pencil out if they actually went for the pricing in the original listing.

    I am pretty sure you were addressing sdrealtor on the price point question for the new paradigm. As for my price point question, I don’t have an answer for that. People who are buying that work with me often ask me what I “would pay” for this or that house and I am honest with them and tell them I am renting. I tell them that I am looking in a lowballish manner for certain homes in Scripps but that none of my lowballs have been accepted and that if it were only about money I wouldn’t be looking now at all.

    As far as price point for rental property? Well it depends. Different people have different criteria. I am not sure what someone like Surveyor uses for his numbers. I would imagine if I could get a property for 10% down and it cash flowed a few percent I would have to seriously consider it depending on the neighborhood. I don’t see anything like that in San Diego but eventually pricing will get there.

    SD Realtor

    February 11, 2008 at 5:25 PM in reply to: 32 offers or more in 3 days on a single property #151973
    SD Realtor
    Participant

    Personally I don’t see many “deals” with respect to properties that pencil out as a rental yet. I have seen a few pretty aggressively priced SFH homes in Mira Mesa that could indeed pencil out if they actually went for the pricing in the original listing.

    I am pretty sure you were addressing sdrealtor on the price point question for the new paradigm. As for my price point question, I don’t have an answer for that. People who are buying that work with me often ask me what I “would pay” for this or that house and I am honest with them and tell them I am renting. I tell them that I am looking in a lowballish manner for certain homes in Scripps but that none of my lowballs have been accepted and that if it were only about money I wouldn’t be looking now at all.

    As far as price point for rental property? Well it depends. Different people have different criteria. I am not sure what someone like Surveyor uses for his numbers. I would imagine if I could get a property for 10% down and it cash flowed a few percent I would have to seriously consider it depending on the neighborhood. I don’t see anything like that in San Diego but eventually pricing will get there.

    SD Realtor

    February 11, 2008 at 5:25 PM in reply to: 32 offers or more in 3 days on a single property #152044
    SD Realtor
    Participant

    Personally I don’t see many “deals” with respect to properties that pencil out as a rental yet. I have seen a few pretty aggressively priced SFH homes in Mira Mesa that could indeed pencil out if they actually went for the pricing in the original listing.

    I am pretty sure you were addressing sdrealtor on the price point question for the new paradigm. As for my price point question, I don’t have an answer for that. People who are buying that work with me often ask me what I “would pay” for this or that house and I am honest with them and tell them I am renting. I tell them that I am looking in a lowballish manner for certain homes in Scripps but that none of my lowballs have been accepted and that if it were only about money I wouldn’t be looking now at all.

    As far as price point for rental property? Well it depends. Different people have different criteria. I am not sure what someone like Surveyor uses for his numbers. I would imagine if I could get a property for 10% down and it cash flowed a few percent I would have to seriously consider it depending on the neighborhood. I don’t see anything like that in San Diego but eventually pricing will get there.

    SD Realtor

    February 11, 2008 at 4:57 PM in reply to: 9503 La Jolla Shores Dr #151669
    SD Realtor
    Participant

    Hi Arty…

    Personally I have not been into this home yet. Everything checked out regarding the comments made by the other poster. These people have been adjusting the price every couple of weeks.

    SD Realtor

    February 11, 2008 at 4:57 PM in reply to: 9503 La Jolla Shores Dr #151935
    SD Realtor
    Participant

    Hi Arty…

    Personally I have not been into this home yet. Everything checked out regarding the comments made by the other poster. These people have been adjusting the price every couple of weeks.

    SD Realtor

    February 11, 2008 at 4:57 PM in reply to: 9503 La Jolla Shores Dr #151936
    SD Realtor
    Participant

    Hi Arty…

    Personally I have not been into this home yet. Everything checked out regarding the comments made by the other poster. These people have been adjusting the price every couple of weeks.

    SD Realtor

    February 11, 2008 at 4:57 PM in reply to: 9503 La Jolla Shores Dr #151958
    SD Realtor
    Participant

    Hi Arty…

    Personally I have not been into this home yet. Everything checked out regarding the comments made by the other poster. These people have been adjusting the price every couple of weeks.

    SD Realtor

    February 11, 2008 at 4:57 PM in reply to: 9503 La Jolla Shores Dr #152029
    SD Realtor
    Participant

    Hi Arty…

    Personally I have not been into this home yet. Everything checked out regarding the comments made by the other poster. These people have been adjusting the price every couple of weeks.

    SD Realtor

    February 11, 2008 at 4:49 PM in reply to: Del Cerro View Homes #151663
    SD Realtor
    Participant

    ooops! say it isn’t so!

    February 11, 2008 at 4:49 PM in reply to: Del Cerro View Homes #151930
    SD Realtor
    Participant

    ooops! say it isn’t so!

    February 11, 2008 at 4:49 PM in reply to: Del Cerro View Homes #151932
    SD Realtor
    Participant

    ooops! say it isn’t so!

    February 11, 2008 at 4:49 PM in reply to: Del Cerro View Homes #151953
    SD Realtor
    Participant

    ooops! say it isn’t so!

    February 11, 2008 at 4:49 PM in reply to: Del Cerro View Homes #152025
    SD Realtor
    Participant

    ooops! say it isn’t so!

    February 11, 2008 at 4:17 PM in reply to: 32 offers or more in 3 days on a single property #151649
    SD Realtor
    Participant

    jp the pent up demand varies not only between zip codes but within zip codes as well. You cannot compare a wateridge condo to a detached home in pq. That is not an apples to apples comparison. There were 2 offers at 380k and the trustee sale may have already happened as the sales agent was not sure because the asset manager did not call her back. The 380k offers came in quite quickly but the lender took their sweet time processing them… big surprise eh?

    The point that sdrealtor was making is that pent up demand is indeed present for certain homes in certain neighborhoods. This pq listing was a perfect example. Several other listings have been on the market in that area and have sat and sat forever. So this Cal Property Investments comes in and slams everyone with close to a 30% undermarket listing and gets SWARMED ON.

    Anyways is there pent up demand for sfh in PQ? Yes there is. Is there pent up demand for sfh in Logan Heights? No there is not. Nor is there pent up demand for a wateridge condo until it pencils out as a rental.

    I have seen many listings come on the market in Mira Mesa with some pretty crazy pricings… SFH homes in the low to mid 300s and they all seem to have offers on them as well.

    I could not agree more with your point about price it correctly to sell and forget about the loss… Some banks seem to get it, some don’t. Depends alot on who does the BPO for them.

    SD Realtor

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