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Latest reports I read today are showing significant decreases in offers, increasing inventories and fewer showings for San Diego.
Yes, the numbers do show that. The anecdotal information and observations I see from the zip codes I follow in So Cal show July will be worse than June. The worst case is a looming pause in housing before the insanity caused by a housing shortage continues.
Didn't you sell your home last October expecting prices to crash? Are you glad?
Not a scientific survey by any means, but I receive Redfin updates on properties on the market in areas of interest, and at least by that criteria, the number of homes in San Diego, Encinitas in particular, that they have been sending me has increased dramatically over the last few months. It appears that folks are bailing, but that the homes are staying on the market longer.
So what I considered a normal market when I started investing is a lot different now... How can anyone say they aren't being overbought?
1995 starter home $110K rents for $1,000/mo
2005 starter home $450K renting for $1,200/mo
2018 starter home $550K renting for $2,000/mo
Hi there, I just noticed this. I don't check in very often. Yes, I am extremely happen that I sold when I did. In my opinion I called the top within months.
You sold in October 2017, and we have been hitting new highs ever since. The San Diego County median hit another record high at $579,750 last month.
So when and where is the top you called?
Hey, I just checked.The average rent for a 2 bedroom apartment in San Diego County is $2,341. A 3 bedroom house would obviously rent for a lot more.
Where the hell do you get your $2,000 monthly rent for a median priced 3 bedroom house?
The 1995 starter home would be $300,000, with rent at $1,200
The 2015 starter home $550,000 would rent for $2500 today.
Strategist saysYou sold in October 2017, and we have been hitting new highs ever since. The San Diego County median hit another record high at $579,750 last month.
So when and where is the top you called?
I haven't seen any sales in my area that make me question my decision. I did extremely well and wouldn't have a problem if someone after me made a little money. Time will tell. All I know is that more than one article and news-report have said people are not getting what they did a year ago.
Hey, I just checked.The average rent for a 2 bedroom apartment in San Diego County is $2,341. A 3 bedroom house would obviously rent for a lot more.
Where the hell do you get your $2,000 monthly rent for a median priced 3 bedroom house?
First, I didn't say median house, I said starter homes. I don't deal in nicer homes as an investment property.
2018 starter home $550K renting for $2,000/mo
You keep giving very subjective and anecdotal examples. The real data shows something quite different.
Here is the actual example.
https://www.zillow.com/homes/for_sale/3410-Page-St,-San-Diego_rb/?fromHomePage=true&shouldFireSellPageImplicitClaimGA=false&fromHomePageTab=buy
There is no way in hell that it goes for $2,400/mo. Not with any stability, but the value is even a small surprise for me. I planted that palm tree in 1997. It was a sapling in a 5 gallon pot.
Looks like at least half if tge house consists of later additions. I wonder if it is up to the code and has all the permits.
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I live in the north SD city area. I've been scouring Redfin for a while and noticed that a ton of higher end homes ($700K - $1.2M) are coming onto the market, and it's not even Spring yet. Is this the year that the market goes in favor of the buyer? Of course I want this to be true because I'm looking to buy, but I want to stay objective.
#housing