[SDEngineer]

[quote=donaldduckmoore]Thanks for the info anyway. Then are there any new development in that area regardless of the price?[/quote]

The closest you will find new developments to Del Mar is in Carmel Valley immediately inland of there. There are some pretty close to Del Mar selling new construction in around the top of your price range. For example, Portico at http://www.pardeehomes.com/pacific_highlands_ranch/portico

Theres very little new construction in any San Diego coastal area – those areas were pretty much built out long ago and generally you’ll just find the occasional teardown & rebuild projects (like the newer townhomes in PB).

[SDEngineer]

If they implement these measures, I suspect it will just lead to the return of the check.

[SDEngineer]

If they implement these measures, I suspect it will just lead to the return of the check.

[SDEngineer]

If they implement these measures, I suspect it will just lead to the return of the check.

[SDEngineer]

If they implement these measures, I suspect it will just lead to the return of the check.

[SDEngineer]

If they implement these measures, I suspect it will just lead to the return of the check.

[SDEngineer]

[quote=UCGal]I assume HOA fees would also have to factor in. A house with no HOA and no Mello Roos would be a simple ratio calculation. A house in a neighborhood with mello roos and HOA would have to have a lower ratio to realize the same cash flow.[/quote]

Yes. I figure HOA/MR at about 10K of buying power lost for every $50 in those fees.

[SDEngineer]

[quote=UCGal]I assume HOA fees would also have to factor in. A house with no HOA and no Mello Roos would be a simple ratio calculation. A house in a neighborhood with mello roos and HOA would have to have a lower ratio to realize the same cash flow.[/quote]

Yes. I figure HOA/MR at about 10K of buying power lost for every $50 in those fees.

[SDEngineer]

[quote=UCGal]I assume HOA fees would also have to factor in. A house with no HOA and no Mello Roos would be a simple ratio calculation. A house in a neighborhood with mello roos and HOA would have to have a lower ratio to realize the same cash flow.[/quote]

Yes. I figure HOA/MR at about 10K of buying power lost for every $50 in those fees.

[SDEngineer]

[quote=UCGal]I assume HOA fees would also have to factor in. A house with no HOA and no Mello Roos would be a simple ratio calculation. A house in a neighborhood with mello roos and HOA would have to have a lower ratio to realize the same cash flow.[/quote]

Yes. I figure HOA/MR at about 10K of buying power lost for every $50 in those fees.

[SDEngineer]

[quote=UCGal]I assume HOA fees would also have to factor in. A house with no HOA and no Mello Roos would be a simple ratio calculation. A house in a neighborhood with mello roos and HOA would have to have a lower ratio to realize the same cash flow.[/quote]

Yes. I figure HOA/MR at about 10K of buying power lost for every $50 in those fees.

[SDEngineer]

[quote=ybitz]Even in Mira Mesa (definitely not high end), the ratio seems to be over 200.

Ratio: 217
$1860 rent [craigslist]
http://sandiego.craigslist.org/csd/ap/1177483541.html
$404,500 price[zillow]
http://www.zillow.com/homedetails/11559-Polaris-Dr-San-Diego-CA-92126/16819385_zpid/

Ratio: 211
$1900 rent [craigslist]
http://sandiego.craigslist.org/csd/apa/1177473494.html
price[zillow]
$401,500 price [zillow]
http://www.zillow.com/homedetails/7462-Dancy-Rd-San-Diego-CA-92126/16834149_zpid/

And I thought the real estate bubble had burst in the non-high-end areas such as mira mesa. How come we’re not seeing ratios in the more reasonable 150 range?[/quote]

Zestimate is garbage. They’re pretty consistently well higher than what the market price is these days, and have been since the crash started – their model appears to be quite laggy.

If you’ll look on the MLS, you’ll find comparable area/size 4/2’s going in the 320-350ish range. The highest a 4/2 of that size has closed in the past couple of months is at 375K.

Here’s a close from 3/30 of this year – similar size, area (north of Mira Mesa Blvd), lot, and configuration. Sold for 325K.

http://www.sdlookup.com/MLS-090004996-8293_Calle_Calzada_San_Diego_Ca_92126

That takes it down to about 160-180x. Not investment territory, but not terrible.

But I don’t think MM’s SFR’s have bottomed quite yet. However, they’re pretty clearly a lot closer to the bottom than the ritzier areas. The areas furthest from the city core have come down farther (San Marcos, East County, etc).

[SDEngineer]

[quote=ybitz]Even in Mira Mesa (definitely not high end), the ratio seems to be over 200.

Ratio: 217
$1860 rent [craigslist]
http://sandiego.craigslist.org/csd/ap/1177483541.html
$404,500 price[zillow]
http://www.zillow.com/homedetails/11559-Polaris-Dr-San-Diego-CA-92126/16819385_zpid/

Ratio: 211
$1900 rent [craigslist]
http://sandiego.craigslist.org/csd/apa/1177473494.html
price[zillow]
$401,500 price [zillow]
http://www.zillow.com/homedetails/7462-Dancy-Rd-San-Diego-CA-92126/16834149_zpid/

And I thought the real estate bubble had burst in the non-high-end areas such as mira mesa. How come we’re not seeing ratios in the more reasonable 150 range?[/quote]

Zestimate is garbage. They’re pretty consistently well higher than what the market price is these days, and have been since the crash started – their model appears to be quite laggy.

If you’ll look on the MLS, you’ll find comparable area/size 4/2’s going in the 320-350ish range. The highest a 4/2 of that size has closed in the past couple of months is at 375K.

Here’s a close from 3/30 of this year – similar size, area (north of Mira Mesa Blvd), lot, and configuration. Sold for 325K.

http://www.sdlookup.com/MLS-090004996-8293_Calle_Calzada_San_Diego_Ca_92126

That takes it down to about 160-180x. Not investment territory, but not terrible.

But I don’t think MM’s SFR’s have bottomed quite yet. However, they’re pretty clearly a lot closer to the bottom than the ritzier areas. The areas furthest from the city core have come down farther (San Marcos, East County, etc).

[SDEngineer]

[quote=ybitz]Even in Mira Mesa (definitely not high end), the ratio seems to be over 200.

Ratio: 217
$1860 rent [craigslist]
http://sandiego.craigslist.org/csd/ap/1177483541.html
$404,500 price[zillow]
http://www.zillow.com/homedetails/11559-Polaris-Dr-San-Diego-CA-92126/16819385_zpid/

Ratio: 211
$1900 rent [craigslist]
http://sandiego.craigslist.org/csd/apa/1177473494.html
price[zillow]
$401,500 price [zillow]
http://www.zillow.com/homedetails/7462-Dancy-Rd-San-Diego-CA-92126/16834149_zpid/

And I thought the real estate bubble had burst in the non-high-end areas such as mira mesa. How come we’re not seeing ratios in the more reasonable 150 range?[/quote]

Zestimate is garbage. They’re pretty consistently well higher than what the market price is these days, and have been since the crash started – their model appears to be quite laggy.

If you’ll look on the MLS, you’ll find comparable area/size 4/2’s going in the 320-350ish range. The highest a 4/2 of that size has closed in the past couple of months is at 375K.

Here’s a close from 3/30 of this year – similar size, area (north of Mira Mesa Blvd), lot, and configuration. Sold for 325K.

http://www.sdlookup.com/MLS-090004996-8293_Calle_Calzada_San_Diego_Ca_92126

That takes it down to about 160-180x. Not investment territory, but not terrible.

But I don’t think MM’s SFR’s have bottomed quite yet. However, they’re pretty clearly a lot closer to the bottom than the ritzier areas. The areas furthest from the city core have come down farther (San Marcos, East County, etc).

[SDEngineer]

[quote=ybitz]Even in Mira Mesa (definitely not high end), the ratio seems to be over 200.

Ratio: 217
$1860 rent [craigslist]
http://sandiego.craigslist.org/csd/ap/1177483541.html
$404,500 price[zillow]
http://www.zillow.com/homedetails/11559-Polaris-Dr-San-Diego-CA-92126/16819385_zpid/

Ratio: 211
$1900 rent [craigslist]
http://sandiego.craigslist.org/csd/apa/1177473494.html
price[zillow]
$401,500 price [zillow]
http://www.zillow.com/homedetails/7462-Dancy-Rd-San-Diego-CA-92126/16834149_zpid/

And I thought the real estate bubble had burst in the non-high-end areas such as mira mesa. How come we’re not seeing ratios in the more reasonable 150 range?[/quote]

Zestimate is garbage. They’re pretty consistently well higher than what the market price is these days, and have been since the crash started – their model appears to be quite laggy.

If you’ll look on the MLS, you’ll find comparable area/size 4/2’s going in the 320-350ish range. The highest a 4/2 of that size has closed in the past couple of months is at 375K.

Here’s a close from 3/30 of this year – similar size, area (north of Mira Mesa Blvd), lot, and configuration. Sold for 325K.

http://www.sdlookup.com/MLS-090004996-8293_Calle_Calzada_San_Diego_Ca_92126

That takes it down to about 160-180x. Not investment territory, but not terrible.

But I don’t think MM’s SFR’s have bottomed quite yet. However, they’re pretty clearly a lot closer to the bottom than the ritzier areas. The areas furthest from the city core have come down farther (San Marcos, East County, etc).

[Author]

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