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Latest Home Sales in N Co San Diego


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2020 Jun 24, 10:04am   1,402 views  7 comments

by Malcolm   ➕follow (0)   💰tip   ignore  

It looks like the deflation is moving down the food chain. Here are some recent sales. I have mentioned before how high end houses are lingering for years on the market, but these middle class sellers and apparent REOs are caving and these are but a few examples of nice looking homes going for as little as $196 a square foot. I paid slightly less than that when I bought my last home in 2000. Most are going between 200-300 per foot. I sold at 408 per sf in 2017. These current prices are about 2005 and 2014 levels.









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1   Malcolm   2020 Jun 28, 12:29pm  

They are all from this year, and while yes, a few are from before the pandemic, it shows that the market here is collapsing despite the additional strain from the pandemic.
2   SoTex   2020 Jun 28, 8:20pm  

I think Malcolm is right. I'd been noticing deals here and there pre-virus despite the increase in prices. In 2018 after a rapid rise I saw a surge of inventory and some price decreases in SD and lots of hemming and hawing on the radio that we had hit the peak, sell now to lock in gains! Then rates dropped again and we got more increases.

But I don't think anything is really going to change much until inventory comes back and people have to start paying mortgages again. What I'm hearing Sunday 6/28/2020 is that we have a 3x increase in CA for missed mortgage payments and 1/3rd of mortgage holders missed. I'm going to guess one of those are wrong as reported. Maybe both.

Seriously though. Who the fuck really wants to stay in CA anyway? I've lived in and seen about 1/3rd of the rest of the country and there are (were?) much friendlier places to live. It's a foreigner (legal and illegal) rat race out here. Nobody fucking likes each other. Living here turns you into an asshole too.

I went to Stater Bros today to buy groceries. I've been going there for a few months because the people at Von's suck sooo bad. Well, they wouldn't accept a $20 return for unopened batteries I'd purchased less than 2 weeks ago. I'd fogged my glasses due to my mask and made a mistake. My mistake but they've apparently had some policy since the 24th: no refunds due to cooties. Even for non-food items.

I asked the manager if I could keep them and return after the pandemic. I basically just got another asshole response from this fat ass who just pointed at the sign.

I worked grocery when I was a kid. We were actually nice to customers. I have not been to a grocery store here where I've seen friendly employees in nearly 25 years. Except for once. Once.

In Texas when I go with my folks it's EVERY. FUCKING. TIME.

I don't give a damn if they are poor. Grocery store workers in CA suck balls. They sucked balls before the pandemic and they still suck balls. I hope they stay poor.
3   SoTex   2020 Jun 28, 8:29pm  

Funny thing about em too: We are not allowed to bring our own bags due to the pandemic (I never have) and I show up with a cart full of shit. They fucking still ask, "Do you want bags?".

"No, I'm just going to roll this cart out to my car and dump all my shit into the trunk.", "Then when I get home I have some elves that magically organize and put everything away.", "They carry all that shit up the apartment stairs for me!"

No, I've never said that, I'm always nice, but that's what's going through my head. My guess is that it's not their fault and they are instructed to say that.
4   Malcolm   2020 Sep 18, 7:43pm  

just_adhom_preaching says
I think Malcolm is right. I'd been noticing deals here and there pre-virus despite the increase in prices. In 2018 after a rapid rise I saw a surge of inventory and some price decreases in SD and lots of hemming and hawing on the radio that we had hit the peak, sell now to lock in gains! Then rates dropped again and we got more increases.


I've noticed prices seem to have stabilized, but I am still bearish for the medium term. I believe inventory is being held off of the market by eviction and foreclosure moratoriums that are taking pressure of of distressed owners. I believe there is a crazy backlog of foreclosures and evictions that are going to be triggered on January 1st.

Don't be surprised if there is some crazy extension or another housing bailout. Subsidizing house prices with artificially low interest rates, financial bailouts and moratoriums are the only things keeping prices high. I shouldn't say only, because they are indeed formidable forces.
5   Malcolm   2020 Sep 18, 7:45pm  

Do people really think that renters aren't saving a year's worth of rent to just move instead of paying their full deferment?
6   Al_Sharpton_for_President   2020 Sep 18, 7:48pm  

There is no life east of 5.
7   Malcolm   2022 Mar 11, 3:59pm  

More pressure on housing prices will be coming from a reduction in short term rental permits. People have been buying and paying the prices they have been because short term rentals are a great revenue stream. Now that it is being cut off, a lot of people will have to look for a way to pay the mortgage. It will also be good for renters.

https://www.nbcsandiego.com/news/local/coastal-commission-stamps-newly-short-term-rental-regulations-could-cut-rentals-in-san-diego-by-nearly-half/2891234/?source=patrick.net

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