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sdrealtor
Participant[quote=Coronita]https://www.redfin.com/CA/San-Diego/7215-Rock-Canyon-Dr-92126/home/4544095
$1.7 million
Beverly Mesa![/quote]
Great joke! April fools!!!! Well maybe not but picture #9 is awesome
ParticipantAbout the same. Great April Fool’s post dz
ParticipantI do it mostly to drink better wine than I can afford for free not to make money. To make money I look for opportunities of a lifetime!
ParticipantI do the same with wine sometime. The problem is the most flippable wines are hard to obtain and involved years long waiting lists. Screaming Eagle is probably over 20 years if ever
Participant[quote=svelte]I was up in norcal a couple years ago waiting in a bank lobby for a bank rep to grant us access to my recently deceased dads safe deposit box. Dad had left me the key to it, but hadn’t told me what was in it.
A friend from my childhood happened in the bank and we chatted for a while – I hadn’t seen him in going on 35 years.
He asked why I was in town and I told him. He asked what was in the safe deposit box and I said I honestly had no idea.
He smiled as he walked away and said “hope you find a gold bar!!”
That has stuck with me. I’m going to buy a gold bar for each of my kids and leave them in my safe deposit box. They may be tiny gold bars, but gold bars nonetheless. And I’m not going to tell them they are there. It will be my little post-passing surprise for them.[/quote]
Just an fyi banks are doing away with safe deposit boxes. Too much unproductive relatively non revenue generating space. Its not easy to get one and lots of people are being told we are getting rid of them so empty yours out
Participant[quote=gzz]I suppose now a hot new japanese CUV model at msrp might not be great. 6 months ago, it certainly was. The rav4 was consistently going for 5k over msrp.
I got premium awd. Basically the top non-turbo spec. I wanted specifically either a bright red, blue, or green car with white or light tan full leather.
Cx30 is a new and lower volume model than cx5 which is by far the most popular mazda.
2k under msrp just wasn’t happening, especially if you want a specific combo in a hot segment, and japanese make in California. I could have got $500 off, but the 36 month 0% was worth much more, about $1800 if my alternate investment is a tax free muni fund at 4%.
I first went to the Kearney Mesa dealer, which subsequently closed for renovations.
They had -40 CX5s in stock, and 0-4 of every other model. It was surreal.
The National City dealer I went with wasn’t quite as extreme, but still half of inventory was cx5, with a smattering of 3 sedans, 3 hatches, and less than 3 each of cx9, cx3, and mazda 6 sedan. Both places had zero cx30 in stock when I visited.
I feel that 2022 MSRPs went up and chip shortages lessened, so the giant premiums went away. Though my vehicle specifically didn’t seem to get much if a msrp bump, and they made awd standard.[/quote]
You actually go to the dealer? I thought you were a millenial
ParticipantUnless your name is Frank and you have a Porsche. Then its ok LOL
Participant[quote=anxvariety]All speculative demand.. will vanish just as quickly as it appeared.[/quote]
Good luck with that. In a community of 70K plus located around one of the preeminent tech/life sciences cores in the country it doesnt take much to sell 4 houses a week
And this. Good article
https://www.calculatedriskblog.com/2022/03/housing-dont-compare-current-housing.html
Participant[quote=anxvariety]Prepare to be much poorer no matter the strategy. The bubble fills to get as many people locked into to interest paying contracts as possible, before deflating rapidly.. those with interest paying agreements will unfortunately pay for all the fun over the last decade or so. See Weimar, rations were implemented so # of ‘dollars’ didn’t really matter much unless spending a few hundred for some butter on the black market. The interest paying bagholders, and those charlatans telling others its a good time to buy are agents of inflation.. and ‘we all falll dowwnnn’. “but but I thought that loans were going to be easier to pay back with inflation!” “well, the inflation already occurred no one told you about this next part? its great and all that you have 1% interest but you paid 1 million for a 1000 sq ft ‘crap shack'”.[/quote]
Thats where you are wrong. You paid 900K for a piece of dirt and $100K for the “crap shack”
ParticipantSo this one Id potentially put into the category of primates at play aka monkey business. There are a bunch of large flipper companies that market to agents constantly. I hear from them everyday…every…single …day.
It is a full time business to run an operation like that with staff constantly chasing opportunities and a full time crew to remodel them. The pitch is bring us your upcoming fixer listings off market and you can represent both sides of the transaction. If the deal is good enough they will also give you the listing post remodel which is the case in this one.
These houses are sold without ever being on the open market. The flipper company comes in with all cash, as-is and very quick closing and that is used to rationalize a less than open market price. Some sellers choose that route be it on their own or they are steered that way but suffice to say regular guy/gal on the street is not getting a house like that for a wholeslae price of $750K
On this one it looks like original owner moved to a nice part of SD almost 30 years ago and kept this a rental. These are likely older folks or their heirs. For whatever reason they opted for the fast and easy sale
Participant[quote=limkotir][quote=an][quote=sdrealtor]As I said yesterday. I don’t make things up contrary to what deadzone claims[/quote]
I’ve been following Mira Mesa for almost 2 decades now and I have never seen MM sold out.[/quote]From my perspective, and sdrealtor said it himself, MM is a bit “undervalued” zip area, given its location (no need to explain) and public school performance, relative to the social economic class (or housing hold income level).
Obviously, MM has its own share of baggages and downsides, which we’ll save for another post…
On the public school performance, to buyers that care about such thing, instead of looking at the greatschools, USNews and all the school rating sites, I looked at the UC Admissions data for incoming undergrad freshmen for Fall 2021 (most recent data).
So I checked out how many kids applied vs admitted to Berkeley in the high schools in the within 10 mile radius of MM. (I did not include some high performing south bay and north county schools):
1. Canyon Crest – 53/359
2. Torrey Pines – 26/191
3. La Jolla High – 25/155
4. Del North – 22/187
5. Rancho Bernardo – 15/99
6. University High – 13/96
7. Westview High – 13/193
8. Scripps High – 10/124
9. Mira Mesa 11/69
10. Mt Carmel 9/82
11. Poway High 6/62I am going to mine 5-years of data and look at UCSD and UCB admissions, obtain the zip household income, to see if which public high schools in SD County always punch above its weight class (social economically). Because we all know better schools is a function of who lives there and what social economic class they belong in — let’s normalize school ratings!
SOURCE (Tableau data table, takes a bit of time to load). https://www.universityofcalifornia.edu/about-us/information-center/admissions-source-school
California Public Schools only
Campus = Berkeley
Filter on county = San Diego[/quote]That will be cool and please share. I just found one thing that was really interesting to me.
UCSD 2021 applied/admitted/enrolled
Mira Mesa 153/71/47
Torrey Pines 207/95/37
Canyon Crest 397/177/71They all have about 46% acceptance but 66% of the MM kids enroll vs about 40% of the CV kids. I guess that makes sense social economically as the MM kids are more prone to live at home and commute but still very impressive numbers
ParticipantOf course it’s out of reach for nearly all. It’s just bonkers that there are buyers fighting even at that level. I think I live in a pretty average home for this area on a bigger than most lot. The Zillow on my hovel just crossed $2m. I think that’s about the price give or take a little for a decent tract houses with at least 4 br and 3 ba that’s not a complete fixer. That’s crazy town
Participant[quote=The-Shoveler]Working from home most of the time, my wife yells at me to change my sweats at least once a week.[/quote]
At least you wear pants
Participant[quote=oceanbreeze]I paid $100K over asking for a Mira Mesa property I acquired back to Jan. At that time I felt pressure of low inventory and rising interest rate, so just told my agent to compete with other offers no matter what.[/quote]
Congrats and best of luck in your home
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