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sdrealtor
ParticipantSo those houses were still around 100k new and many years of 2% tax increases so about $2k is the least anyone is paying. Not quite 10X but 5X certainly in the realm. I’ve been in my home 22 years now. House next door just resold and they’ll be paying 3X. I am old enough to move my tax basis now but like it where I am so that’s my bigger golden handcuffs
Participant[quote=Escoguy][quote=jmw][img_assist|nid=27501|title=MM|desc=|link=node|align=left|width=100|height=78]
If you had told me 10 years ago one of the standard models in Mira Mesa would sell for $1m…[/quote]When I see this, I realize my projection of 1400 sf in 4S at 1.2M isn’t far off.[/quote]
As you know a 1400 sf 4S house is a detached condo and really more townhouse than sfr. Pricing is knocking on the door of that level and there is nothing for sale
I never saw this coming but feel like we are heading toward Silicon Valley pricing down here unless something changes quickly. I hope Im wrong
Participant[quote=bewildering]I had this decision in 2018 and decided to rent out my house.
I talked to a financial advisor who said
“many people leave San Diego, but end up not liking their new location. When they try to return they cannot afford the same type of house and feel miserable.”
I kept the house. Thinking I have 2 or so years to decide to sell based on capital gains exclusion.
Now I am very glad we did not sell, and I will just keep renting out the house. One day I will return as San Diego is magical.
The one issue is that I have got used to my house in North Carolina. Much bigger and better than the San Deigo house. I will probably have to redo the San Diego house when I return.[/quote]
The best part of this imho is the wait 2 years. Not only might you not afford to get back what you had, what you had might not be on the market when you do. You’ve done great and have leverage to use time as your friend.
As for you, SD likely continues its ascent over years more than NC. When it’s time to come back, sell NC and that will pay for the renovation of your $10,000,000 San Diego home LOL
ParticipantFirst week of the season. Im gonna make one slight change going forward. Next to the listings and pendings each week I will include the figure from last year. That will start now for this thread.
New listings 6 (18) – oh boy not a good start and 2 new lsitings were 2BR detached zero lot line condos not really true SFR’s
New Pendings of 5 (15) – cant sell what isnt there
Thats +1
Closed sales at 13 –
Price reductions at 0 –
Total houses for sale 21 with median of $2.575M.
This is not a good start. Really need to get this market going. It would be nice to see 15-20 new listings per week if not more
ParticipantFirst week of the season. Im gonna make one slight change going forward. Next to the listings and pendings each week I will include the figure from last year. That will start next week for this thread as I started tracking MM that week last year.
New listings 7
New Pendings of 4
Closed sales at 2 –
Price reductions at 0.
Current inventory at 4 with median of 913K. The end of homes under 800K should come at some point if trend continues
All things considered this is a healthy start and in line with what we saw most weeks last year
ParticipantDupe
Participant[quote=Escoguy]On balance, I’d sell one 2.3M home and buy two for 1.2M.
Then you can have a place to live or two rentals.I highly doubt you will get twice the rent for one.
Then you have more options: i.e. you can live one again or sell it.
Not all choices are black and white.[/quote]
Not a bad idea but I’d still wait a couple years as you would want to come back to your home if you come back. Could always do that later. You also avoid transaction costs and other costs. Your in a strong position so use it to your advantage.
ParticipantScrappy and high energy often translates to inexperienced and starving neither of which you want at a time like this
ParticipantEasy. Hire good local property manager and rent it out. Prices are not going down anytime soon and if we hit a downturn it takes a while for them to drop. Revisit in two years and decide whether to sell then so you still have 500k cap gain exclusion. By then you should have good idea if you like it. FWIW a lot can happen as we age, I’m starting to deal with that myself. Give yourselves time to get a few more miles down the road. Ok you can leave $5 in the tip jar.
Participant[quote=gzz]You do not owe months of rent if you leave a lease before 12 months. You likely will owe nothing more and your landlord will be happy to find another higher paying tenant.
How about:
4542 Mount Frissell Dr, San Diego, CA 92117[/quote]
Not a bad choice. Where’s sdudde when we need him
ParticipantI screen shot Zillow from time to time and all photos are backed up on google cloud. I get daily memory emails from google pictures which I enjoy for many reasons. Todays memory was last years number. 40% increase in zestimate and I don’t think that’s far off. SMH
ParticipantI think that’s really the bottom line. Find a good experienced agent that you can trust and work well with
Any agent that tries to say everyone else does things wrong and I alone can do this reminds me of a certain someone in another field of work
ParticipantI always laugh when i hear someone call a realtor the best. BY what metric? Hint: there is no way to objectively call anyone the best. He’s a good experienced guy and not a bad choice but there are lots of agents just as good. Having worked up here for a couple of decades I can think of dozens of exceptional ones
ParticipantFWIW I sold a house down near San Diego Country Club in CV a couple years back. Nice older area with big lots and no HOA. As a buyer Id poke around there
And yes appreciation could easily eat up that rent. Plus if you buy an older home some overlap is nice to get some work done for a month or so and makes for an easy move/transition
Get out there asap and good luck!
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