[SD Realtor]

Being a veteran of that commute for many many many years it honestly varies. You need to break the commute up into two parts, getting in and out of Scripps is part A. You gut it out through Pomerado or you go for Spring Canyon.

Alternatives to Pomerado exist on some of the smaller surface streets as well.

**************************************

Then you have the choice of Mira Mesa or Miramar Road, or going through smaller streets of Mira Mesa, or go the long way around 56.

To be honest 56 never really pans out well. I found using the smaller residential streets through Mira Mesa actually are your best bet. Sometimes Miramar Road was a decent alternative and yielded decent results.

I found it worth the commute because I enjoy Scripps.

[SD Realtor]

It sounds like it is a moot point applejack. If the seller is dug in and if they have a backup then they are going to most likely dig in. If they are smart they will inform the backup offer about the appraisal so that they don’t run into the same issue.

If you look at the appraisal you can generally see line items of where the appraiser either added or subtracted monetary value to the comps on a feature by feature basis. If the lot substantially larger for this home then for the comp properties you can see how much the appraiser accounted for that feature. Obviously it doesn’t sound like much.

The bottom line is that the issue reverts to how much you love the home.

***************

As for the general market conditions, it is somewhat mixed a little bit. Out of the gates the market was very hot. It has slowed up for some properties. First off there was the group of sellers who just priced way out of whack for properties that did not deserve such pricing. Most of those homes have sat. There are alot of sellers that did this. Homes that are priced within comps and are in good shape are selling. Not at the clip as we saw in late Feb and early March though.

Still many buyers are still running into cases of certain communities having little to no listings and when a listing in that community comes on the market the homes go fast.

[SD Realtor]

We need more of the variables. How long was the house on the market, where are the comps, lets take a look at the appraisal, etc… Answers to those questions would help dictate a strategy that may help the buyer somewhat and not offend the seller. Without more data, speculation and blanket statements don’t apply.

Your realtor should be able to figure out a decent strategy based on several factors.

[SD Realtor]

Agreed 100% with you FLU. Cash buyers are not needed just because the home doesn’t appraise.

Every case is unique and to make blanket statements without understanding or seeing the actual home and comparing it comps in the area is ridiculous.

[SD Realtor]

Essentially yes. All recurring fees are prorated properly. You as the buyer will not pay for anything to do with the home until title transfers.

[SD Realtor]

50k low seems a bit out of the norm. Have you presented the appraisal to the listing agent and have them see if they can find comps that the appraiser may have missed. Similarly there may have been improvements to the home such as rooms added or square footage that are not on the tax roll meaning they were done without permits. Thus the seller may believe the home should be valuated as a larger home but the appraiser didn’t give the full ppsf on the improvements because they were made without permits.

Or the sellers just priced the home way above market rates and are convinced someone will come along and pay more then appraised value.

I would advise you to attempt to get a little price relief, perhaps split the difference with the seller. Alternately you can offer to get a second appraisal and split the cost of that with the seller. There are several options.

[SD Realtor]

This is a recurring closing cost. All recurring closing costs will be prorated by escrow.

So if the closing date is the 13th day of the month then the seller will pay the 13 day proration and the buyer will pay for 17 days (assuming an HOA payment for example).

Same logic holds for property tax except the transition dates will align to the property tax biannual dates. Of course the property tax payment for the buyer is always an estimate based on the previous assessment. The county will send out the adjusted payment a few weeks/months after escrow closes.

[SD Realtor]

If you see a home you like why don’t you just call the listing agent directly and ask if they are going to hold it open?

[SD Realtor]

Excellent advice Sheldon

[SD Realtor]

It is a really difficult question to answer. Interest rates relative to price is also something that we do not have much data on. Certainly the rates we saw in the late 70s and early 80s would have a substantial impact on prices. However when we had those rates in the early 80’s there was no real estate catastrophe in San Diego. Yes it was affected but not in an “end of the world” sort of way.

Given the pricing we have now I am not sure how the market will react. No doubt that if we are in a situation where mortgage rates are at 7 or 8% I believe we will see a definite decrease in the number of buyers.

How about sellers?

I think there are several dependencies that while subtle can be overlooked. Think about the following factors…

– Homeowners locked into low rate 30 year or even 15 year mortgages.
– Is there wage inflation?
– Are there accompanying factors that also are going up? Rents? Cost of fuel, food, etc?

These factors may play a much greater role then the reduction of buyers in the pool. One can make a case that it may be easier and financially beneficial to not sell and either rent the property out, (especially if rents are high which is the case in high interest rate environments) or just sit tight. While the asset (home) may be depreciating, it is being serviced using a low interest rate vehicle at a time when the supply of money is very tight. Why sell?

So…

I guess my point is that one can make an argument in either direction as to what happens when (not if) rates go up again… or perhaps we are a big version of Japan and we sit with low rates for 20 or 30 years. Hey we have done it for more then 10.

It is a tough call to make.

[SD Realtor]

They are definitely different. I like Lopez Canyon alot with regards to riding around in there. Also yeah the homes are definitely townhomish and there is not the big traditional yard.

In general they offer an interesting alternative. Not really my cup of tea but they are interesting.

[SD Realtor]

Hi Vees,

As for the schools I will always defer to the published test scores and/or local expertise. As for appreciation potential I don’t believe there is a huge difference. The values will ebb and flow with the overall market.

With regards to commute we all have our own thoughts. I am not in love with long commutes but if a commute is reasonable then I am okay making a trade off for somewhere I really love.

That is all personal preference. Please don’t consider it advice in any way shape or form.

As for inventory it seems to that there is a tad less quality inventory and sellers definitely came out with the entitlement guns blazing this spring. In several cases, many buyers bit.

[SD Realtor]

Vees, it is a nice area especially if you have a family.

Excellent weather, not different then anywhere else on the I15 corridor.

Schools are SDUSD and you can check the scores to see how they match up against other areas you want to live in.

Sense of community is better then average for the older homes in the Jerabak area.

Fire hazard of course is high for anywhere along the I15 corridor. Higher for canyon homes.

The commute sucks coming up/down Pomerado but liveable. Spring Canyon is a better way to go.

Mira Mesa Blvd sucks as well but you get used to it. You can take the back way as well, (cristobal)

56 is not a great option. Sometimes miramar can be.

I presume the 92121 option you are thinking of are the homes near Qualcomm Hill on the far west end of Calle Cristobal. Not a bad alternative but I would choose old Scripps for no particular reason.

I don’t think you will go wrong with either selection though with regards to quality of life (the sorrento option is WAY better commute wise) and appreciation wise Scripps may have a slight nod but not a huge difference.

[SD Realtor]

NSR you are correct, and no argument as the math supports your post as of today. I am not as centric on myself surviving though. I have the resources and have prepped sufficiently to give my family and I a better chance then most. It is the disruption to everyday life and our functional society that I don’t want to have to endure. I would much rather see our society burdened with inconveniences now that could very well help prevent a larger outbreak or at least reduce the chances, then later.

It is kind of a no win game. Implementing things like travel bans and such seems quite archiac and can easily be painted as ineffective. Yet to argue that they do not help in any way, shape or form seems be incorrect in my opinion. Would they be considered an over reaction? Yes. Are they really an over reaction? Maybe, in fact probably. Would they reduce the chances of wider spreading? Perhaps but they definitely would not increase the chances.

It is certainly new ground for western society. As a technological culture we have faith that we can overcome pretty much everything. Maybe the vaccine is already there as I type.

So my post is not a fear of me catching it, it is more of a fear from an epidemiology standpoint. (sorry if I butchered the spelling)

[SD Realtor]

I agree that the media sensationalizes every. That is their job.

From a probability standpoint things like this are inevitable. The only variable that really exists is the time between events. It is no different from ice ages and meteor strikes. It is no an if, but a when.

We are closer to that when now then we have ever been. Human error has already raised the probability of it becoming widespread here. How can the cdc allow a person with any fever at all who worked in the hospital and treated patient 0 fly?

Similarly our domestic hospital personnel are largely uneducated about this particular virus. I can go on and on but from a pure probability sense, strictly probability based on present domestic cases as well as human error and ease of travel in our country, the adds are much more in favor of a larger outbreak then not, at least in my opinion. I am wrong plenty of the time, and in this case I very much hope to be again.

[Author]

Posts