[sdrealtor]

Therein lies the difference between appraised value which looks backward and market value which looks at current market conditions. When those homes sold there were about 4 active listings for every pending in 92130 and today there are less than 3. The Montefrio homes are also a chipshot away from the 56 (noisy) and all the sales are way too old for me to consider in market value. I am very surprised and disappointed that Bugs included a comp more than 6 months old which is a definite no no in the appraisal world. I’ve yet to meet an appraiser that would consider using one in making a case for value. Sounds like some confirmation bias to me.

[sdrealtor]

Therein lies the difference between appraised value which looks backward and market value which looks at current market conditions. When those homes sold there were about 4 active listings for every pending in 92130 and today there are less than 3. The Montefrio homes are also a chipshot away from the 56 (noisy) and all the sales are way too old for me to consider in market value. I am very surprised and disappointed that Bugs included a comp more than 6 months old which is a definite no no in the appraisal world. I’ve yet to meet an appraiser that would consider using one in making a case for value. Sounds like some confirmation bias to me.

[sdrealtor]

He still owns 2 of the units at palermo that he couldnt sell. Also bought a couple in UTC as well as 2 houses in McMillans project near the airport on the old navy base (sorry I went brain dead on the name). As for the RSF property, after paying 1.65M and spending more than 100K on renovations he ended up selling for 1.975M after holding it about 15 months. probably did a little better than break even on that one.

He’s probably not sleepin too well these days and hoping for the market to get better;)

[sdrealtor]

He still owns 2 of the units at palermo that he couldnt sell. Also bought a couple in UTC as well as 2 houses in McMillans project near the airport on the old navy base (sorry I went brain dead on the name). As for the RSF property, after paying 1.65M and spending more than 100K on renovations he ended up selling for 1.975M after holding it about 15 months. probably did a little better than break even on that one.

He’s probably not sleepin too well these days and hoping for the market to get better;)

[sdrealtor]

I disagree. In that part of CV there isnt anything on the market today with at least 4BR/3BA and 2400 sq ft under $950,000.

There is a 4BR/3BA/2 car gar 2438 sf home with 1200 in Mello Roos in escrow with a range of 850 to 875 that sold in 4 days. My guess is they got 875K.

There is a 5BR/3ba/3 car gar 2828 sq ft in escrow with a range of 899 to 999 that backed to a pretty busy street (Which is a KILLER!) and sold in 94 days.

There is a 5BR/3.5ba/3 car gar 3109 sf in escrow with a range of 950 to 1.05M after only 11 days. My guess would be $1M plus.

All these homes are at least 15 years old, in nice condition but minimal or no upgrades and small lots.

There is very solid demand and very little supply of homes like your friends in this marketplace today. With 5BR/3BA/3 car 2600+ sf and no Mello roos there house would sell for at least what they paid in my informed opinion.

[sdrealtor]

I disagree. In that part of CV there isnt anything on the market today with at least 4BR/3BA and 2400 sq ft under $950,000.

There is a 4BR/3BA/2 car gar 2438 sf home with 1200 in Mello Roos in escrow with a range of 850 to 875 that sold in 4 days. My guess is they got 875K.

There is a 5BR/3ba/3 car gar 2828 sq ft in escrow with a range of 899 to 999 that backed to a pretty busy street (Which is a KILLER!) and sold in 94 days.

There is a 5BR/3.5ba/3 car gar 3109 sf in escrow with a range of 950 to 1.05M after only 11 days. My guess would be $1M plus.

All these homes are at least 15 years old, in nice condition but minimal or no upgrades and small lots.

There is very solid demand and very little supply of homes like your friends in this marketplace today. With 5BR/3BA/3 car 2600+ sf and no Mello roos there house would sell for at least what they paid in my informed opinion.

[sdrealtor]

No enough data points to calculate anything meaningful. If you were looking for data to support they made a bad decision, that data isnt out there yet. Same goes for the opposite.

[sdrealtor]

No enough data points to calculate anything meaningful. If you were looking for data to support they made a bad decision, that data isnt out there yet. Same goes for the opposite.

[sdrealtor]

RB
Your landlord probably understands how much easier it is to rent a 2 br than a 1 br.

[sdrealtor]

RB
Your landlord probably understands how much easier it is to rent a 2 br than a 1 br.

[sdrealtor]

While no one knows for sure until they actually try my guess is that it’s worth about what they paid for it maybe a little more. According to the listing the house has 5 bedrooms. If it does, I cant imagine a 5BR home selling in that area below 900k.

[sdrealtor]

While no one knows for sure until they actually try my guess is that it’s worth about what they paid for it maybe a little more. According to the listing the house has 5 bedrooms. If it does, I cant imagine a 5BR home selling in that area below 900k.

[sdrealtor]

Beebo,
What happened to your Housing Market Bull Costume? Is it at the drycleaners this week?

[sdrealtor]

Beebo,
What happened to your Housing Market Bull Costume? Is it at the drycleaners this week?

[sdrealtor]

SD R’s spreadsheet must be looking great these days. He’s got everyone’s HH income and now he has their their home wants.

[Author]

Posts