San Diego Housing Market News and Analysis
North County Inland: 92127, 92027, 92078
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Submitted by Escoguy on August 14, 2020 - 10:21pm
These are the zips I own in: am contracted for two SFHs: one in 92127 and one in 92027.
92127 seller is contingent, wants a single story, so the 30 day timer starts. We are in no rush and might extend. Already have a 3BR rental in 4S which has been successful (2014 purchase). Since 2005, even with great recession drop appreciation has averaged 2.1% per year. Obviously higher if only count recovery period. New SFH at 870ks with 3 BR plus office which can be a 4th BR for some.
Question is: how often do sellers fail to find a replacement?
We had another offer accepted in the spring and the sellers had 6-7 bids rejected so our contract expired. Not a huge deal but don't want to waste time if these fail often.
92027: San Pasqual, moderate distress situation, 4BR for 680K under contract. 2 leins to clear, seller will forgo equity to pay off creditor, worse case have to wait for bankruptcy filing. Again no rush, have put funds in escrow with contracted.
Question: anyone have experience with seller clearing leins before a sale? Did creditors co-operate with good faith effort? My understanding is seller will not retain any equity.
As far as overall market, for North County inland zips above, tenants taking rent increases in stride. Low supply indicates can easily rent new unit in 92027. Should be same in 92127 but curious as to new experiences.
Thanks to SDrealtor for keeping the dialog going. Thought to open this topic for those who follow this part of the county. Given the other dialogs have me looking closer to the coast but thse are my 20 yr knowledge base.
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