OT: Another Relo to San Diego...

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Submitted by Coronita on August 5, 2021 - 11:42am

I've been seeing a lot of these posts on linkedin.sdsd

Submitted by deadzone on August 8, 2021 - 12:11pm.

sdrealtor wrote:
deadzone wrote:
sdrealtor wrote:
XBoxBoy wrote:
deadzone wrote:
Long term, it will take strong growth in high paying industry to keep prices high here.

Don't count this possibility out. Suppose for a second that your are correct that work from home is a temporary thing. People who have moved here and then are told they have to report back to an office in LA or Silicon Valley. What do they do? You seem to assume they move back. I on the other hand assume they quit and start their own companies here in SD. Some of these companies will fail, but some will succeed. We could have the next Google, or Facebook, or Apple, here in SD. There is no reason those types of companies have to be in Silicon Valley.

Exactly. Or two kids in a dorm at UCSD come up with the next tech unicorn. There are so many possible paths to this happening here. Not just one

And skateboarding is blowing up worldwide. The epicenter of talent and industry is right here in Encinitas. One more log on the fire

Skateboarding? Seriously? Skateboarding blew up in the 70s FYI.

So out of touch. It blew up here in the 70s and spread to some urban areas. Now it's globalizing. Of course it won't be anything on the scale of tech but up here could be hundreds of millions if not a billion dollar industry far beyond what it is now. It's one more log on the fire

LOL, more like a twig on the fire if anything.
Just because it is in the Olympics doesn't mean shit. Ping Pong and team handball are in the Olympics too.

Hey have you noticed this really groovy new thing going on at the beach lately? I think it's called surfing. I predict it's really going to get big!

Submitted by deadzone on August 8, 2021 - 12:16pm.

sdrealtor wrote:
FWIW prior to this year there were 6 sales above $8M in the entire history of Encinitas per MLS. There are 4 closed sales at $8M+ plus in the last 4 months with 2 more in escrow. Things changing quickly up here at all price ranges

Yes, we've already established the fact that RE prices are going through the roof.
And we know you love to keep cheerleading that fact.

Submitted by sdrealtor on August 8, 2021 - 12:23pm.

A twig nationwide can be a raging wildfire locally. You just dont get that.

The high end market is very different than the rest of the market. The numbers I posted were similar over $2M, $4M and $6M. The price is kinda irrelavant in many ways in these ranges. Its not that $6M homes are selling for $8M now. They werent selling at lower prices before.

Homes like this are always on the market but in the past there were few buyers for the top of market homes. The top of market homes are selling. Whether they went up 10, 20 or 30% is besides the point. I dont care whether they went up or not. There is a new breed of buyer coming to this market that was not here before and they are buying homes that would not have found buyers in the past at anything close to the rate they are now no matter what the price was.

Submitted by deadzone on August 8, 2021 - 1:09pm.

sdrealtor wrote:
A twig nationwide can be a raging wildfire locally. You just dont get that.

The high end market is very different than the rest of the market. The numbers I posted were similar over $2M, $4M and $6M. The price is kinda irrelavant in many ways in these ranges. Its not that $6M homes are selling for $8M now. They werent selling at lower prices before.

Homes like this are always on the market but in the past there were few buyers for the top of market homes. The top of market homes are selling. Whether they went up 10, 20 or 30% is besides the point. I dont care whether they went up or not. There is a new breed of buyer coming to this market that was not here before and they are buying homes that would not have found buyers in the past at anything close to the rate they are now no matter what the price was.

Yes because since the pandemic and Fed policy response, the wealthy have become even more wealthy. There is just an enormous amount of wealth and money out there. At the same time Encinitas has record selling home prices, there is another new record high selling price for a baseball card. The same forces are affecting all asset markets.

Submitted by sdrealtor on August 8, 2021 - 2:17pm.

Poor analogy. The most valuable baseball cards have always been selling just not at these prices. I grew up with the guy who is selling many of the most valuable of them and has been for a long time.

The most valuable Encinitas real estate always sat and rarely sold. Now it sells. Im not arguing there arent market forces impacting all assets. That impacts the prices things sell for. Its just that a different category of buyers is here now than was here before. They are buying things that were virtually unsellable before at anything close to FMV. Why is that so tough to understand?

Here's another. Just closed at asking price. two week escrow, all cash. Was sold by the Altman Brothers out of LA from Million Dollar Listing fame. Havent seen them down here before

https://www.zillow.com/homes/410-La-Cost...

Submitted by deadzone on August 8, 2021 - 6:30pm.

No the baseball cards are a good analogy, there is simply an obscene amount of money out there right now. Prior to the pandemic, there was only one sports card that ever sold for over 1 million (T206 Wagner). This year there have been dozens of million dollar sales and multiple cards have sold this year for over 5 million.

Submitted by sdrealtor on August 8, 2021 - 8:59pm.

You can't even get your facts straight. That card sold several times for more than $1m and other sportscards have sold over a million prior to this year. It's a poor analogy and incorrect to boot

Submitted by deadzone on August 9, 2021 - 8:42am.

sdrealtor wrote:
You can't even get your facts straight. That card sold several times for more than $1m and other sportscards have sold over a million prior to this year. It's a poor analogy and incorrect to boot

Yes different copies of that T206 card sold for over a million previously. All the records have been smashed since 2020.

Not a poor analogy. Stop acting like a know it all just because you have a friend of a cousin who you drink wine with who knows someone who sells sports cards. You don't know jack squat about this topic. You are clueless if you can't see a connection.

You are just blinded by your belief that NCC San Diego is so wonderful and popular and trendy that all of the world's rich want to move there.

Submitted by sdrealtor on August 9, 2021 - 10:29am.

That's not what you said before. You keep moving the goal posts

I know more than you think. My best friends father basically created the sports card memorabilia secondary market industry. I have a handful of close friends that are involved at the highest levels.

Right now there is about a two year backlog to get a card PSA graded. They aren't even accepting submissions which is the only way to establish value for a card. And they are now taking a large percentage of the graded value instead of a flat fee. The sports card market is incredibly restrained now to basically only previously graded cards. It's nothing like the housing market

And you continue to make stuff up. I never said any of what you said. What I said is that this area is changing in a fundamental way that is leading its prices to increase faster than the more general market. I understand the general market is being driven by all the factors you cite but there is something going on in addition to that here

unfortunately your negative attitude prevented you from participating in this. you must be lots of fun at parties

Submitted by deadzone on August 9, 2021 - 12:47pm.

sdrealtor wrote:

unfortunately your negative attitude prevented you from participating in this. you must be lots of fun at parties

Actually my baseball card collection is up big time so unlike you I did participate in this. Too bad you missed out on the opportunity of a lifetime to get in on it too. Since you have friends in the industry you should have known it was going to explode.

Submitted by Coronita on August 9, 2021 - 1:41pm.

deadzone wrote:
sdrealtor wrote:

unfortunately your negative attitude prevented you from participating in this. you must be lots of fun at parties

Actually my baseball card collection is up big time so unlike you I did participate in this. Too bad you missed out on the opportunity of a lifetime to get in on it too. Since you have friends in the industry you should have known it was going to explode.

People tend to invest in things they know about and are comfortable with...but usually don't throw shades on things they don't know or don't understand or don't invest in. That's sour grapes. I don't think anyone here is throwing shades at baseball cards.

Submitted by sdrealtor on August 9, 2021 - 1:58pm.

deadzone wrote:
sdrealtor wrote:

unfortunately your negative attitude prevented you from participating in this. you must be lots of fun at parties

Actually my baseball card collection is up big time so unlike you I did participate in this. Too bad you missed out on the opportunity of a lifetime to get in on it too. Since you have friends in the industry you should have known it was going to explode.

Missed nothing. Im loaded with many rare cards. Mantle RC, Ryan/Koosman RC, Alcindor (Kareem) RC among others. Hope your's are PSA graded. If not you are SOL

Submitted by deadzone on August 9, 2021 - 3:21pm.

sdrealtor wrote:
deadzone wrote:
sdrealtor wrote:

unfortunately your negative attitude prevented you from participating in this. you must be lots of fun at parties

Actually my baseball card collection is up big time so unlike you I did participate in this. Too bad you missed out on the opportunity of a lifetime to get in on it too. Since you have friends in the industry you should have known it was going to explode.

Missed nothing. Im loaded with many rare cards. Mantle RC, Ryan/Koosman RC, Alcindor (Kareem) RC among others. Hope your's are PSA graded. If not you are SOL

If you actually own a Mantle rookie 52 topps, my hats off to you. I for one am a collector, not investor. I don't collect graded cards in slabs, very unattractive. I do realize it is necessary these days in order to sell ultra high dollar cards. But pretty much ruined the hobby in my opinion.

Submitted by Coronita on August 9, 2021 - 4:15pm.

I tried to collect cars, but realized that my wallet and space is too limited. So I had to settle on collecting videos of Evelyn Lin....

Submitted by sdrealtor on August 9, 2021 - 4:47pm.

deadzone wrote:
sdrealtor wrote:
deadzone wrote:
sdrealtor wrote:

unfortunately your negative attitude prevented you from participating in this. you must be lots of fun at parties

Actually my baseball card collection is up big time so unlike you I did participate in this. Too bad you missed out on the opportunity of a lifetime to get in on it too. Since you have friends in the industry you should have known it was going to explode.

Missed nothing. Im loaded with many rare cards. Mantle RC, Ryan/Koosman RC, Alcindor (Kareem) RC among others. Hope your's are PSA graded. If not you are SOL

If you actually own a Mantle rookie 52 topps, my hats off to you. I for one am a collector, not investor. I don't collect graded cards in slabs, very unattractive. I do realize it is necessary these days in order to sell ultra high dollar cards. But pretty much ruined the hobby in my opinion.

Same here. The cards are in good condition as to have real value but nowhere near good enough to be worth anything close to the ones on top condition. They are just cool things I like having. My dad sold cracker jacks at Forbes Field in the Mid 30's. I have a one of a kind collection of autographed photos he got of the 35' Pirates. There are a few Hall of famers on the team. No one in my family really appreciates them. Some day I want to donate them to the team with the stipulation they create a display of them and credit my father by name. That would be a cool way to honor his memory

Submitted by Reality on August 9, 2021 - 4:52pm.

sdrealtor wrote:

Its just that a different category of buyers is here now than was here before. They are buying things that were virtually unsellable before at anything close to FMV.

Care to re-phrase? Everything always is sellable at FMV.

Now if you mean what you think it's worth that's another thing entirely.

Submitted by sdrealtor on August 9, 2021 - 5:15pm.

To a point. If no one will pay the price it's not worth it in theory. Semantics aside It comes down to a ready, willing and able buyer and seller. The prime most valuable beach properties are almost all under long term strong ownership. If there aren't buyers for the prime beachfront homes the sellers will just sit on them. They can make bank renting them. I understand your objection to the use of FMV and appreciate it to some degree. However those properties only get listed and sell when the conditions are favorable

Submitted by deadzone on August 9, 2021 - 5:46pm.

sdrealtor wrote:

Same here. The cards are in good condition as to have real value but nowhere near good enough to be worth anything close to the ones on top condition. They are just cool things I like having. My dad sold cracker jacks at Forbes Field in the Mid 30's. I have a one of a kind collection of autographed photos he got of the 35' Pirates. There are a few Hall of famers on the team. No one in my family really appreciates them. Some day I want to donate them to the team with the stipulation they create a display of them and credit my father by name. That would be a cool way to honor his memory

That's awesome what you got handed down from your dad. My knowledge (and collecting focus) is mostly post WW2 era so don't know much of the Players from that period other than what I read in "Glory of their Times".
I actually have an interest in mid-Century Pirates for some reason even though I've never even been to Pittsburgh. I got my son into writing to retired players a few years ago and one of the players he wrote to was Bob Skinner (starter on the 1960 WS Pirates) who lives in PB at last note. We got a nice signed photo of Bob when he was the Phillies Manager.

Submitted by sdrealtor on August 9, 2021 - 6:11pm.

Big Poison and Little PoisonBig Poison and Little Poison

Paul and Lloyd Waner aka Big Poison and Little Poison. Both HOFers

My dad was a big sports fan. His college roommate was Johnny Most the legendary Celtics announcer. When they came to play the Sixers we'd sit in the press box with him during games. He taught me to curse

Submitted by deadzone on August 10, 2021 - 8:15am.

sdrealtor wrote:
Big Poison and Little PoisonBig Poison and Little Poison

Paul and Lloyd Waner aka Big Poison and Little Poison. Both HOFers

My dad was a big sports fan. His college roommate was Johnny Most the legendary Celtics announcer. When they came to play the Sixers we'd sit in the press box with him during games. He taught me to curse

Thanks for sharing, those are some real treasures. Paul Waner was one of the ballplayers interviewed for Glory of Their Times, terrific book.

Submitted by flyer on August 10, 2021 - 10:16am.

This reminds me I need to take a look at my Dad's collection. Also a big sports fan when he was with us, and into everything. Everyone in the family had to play at least two sports, musical instruments, and list goes on an on. Great memories.

Submitted by flyer on August 10, 2021 - 10:16am.

Dupe

Submitted by sdrealtor on August 10, 2021 - 12:27pm.

deadzone wrote:
sdrealtor wrote:
Big Poison and Little PoisonBig Poison and Little Poison

Paul and Lloyd Waner aka Big Poison and Little Poison. Both HOFers

My dad was a big sports fan. His college roommate was Johnny Most the legendary Celtics announcer. When they came to play the Sixers we'd sit in the press box with him during games. He taught me to curse

Thanks for sharing, those are some real treasures. Paul Waner was one of the ballplayers interviewed for Glory of Their Times, terrific book.

I checked the envelope I keep them in and it was actually the '37 Pirates. That would make my dad 13 yrs old when he got these. The shame is Honus Wagner was a coach on that team but he did not get one of him.

Submitted by deadzone on August 16, 2021 - 12:52pm.

sdrealtor wrote:
deadzone wrote:
sdrealtor wrote:
Big Poison and Little PoisonBig Poison and Little Poison

Paul and Lloyd Waner aka Big Poison and Little Poison. Both HOFers

My dad was a big sports fan. His college roommate was Johnny Most the legendary Celtics announcer. When they came to play the Sixers we'd sit in the press box with him during games. He taught me to curse

Thanks for sharing, those are some real treasures. Paul Waner was one of the ballplayers interviewed for Glory of Their Times, terrific book.

I checked the envelope I keep them in and it was actually the '37 Pirates. That would make my dad 13 yrs old when he got these. The shame is Honus Wagner was a coach on that team but he did not get one of him.

Speaking of Honus Wagner, just saw in the news that once again a new record high card sale, this time for a T206. Exact same card that sold for 1.2 million in 2012 just sold for 6.6 million. Nice 500% gain in 9 years.

Just another example of the speculative froth in the economy. Are baseball cards all of a sudden so much more desirable? I don't think so. Just too much wealth in the economy and nowhere to invest the money thanks to the Fed.

Submitted by EconProf on September 1, 2021 - 6:40am.

Lots of fun anecdotes here about skateboarding, baseball cards, and relocations of rich people to San Diego's coastal areas. But yesterday a factoid came out from the Hoover Institute of Stanford University that is more relevant to RE trends. CA has lost more businesses to other states so far this year than all of last year: 74 so far in 2021 vs. 62 in all of 2020. So the exodus of people (as per Census Bureau) and businesses is accelerating.
San Diego's advantages for the wealthy elite will always make it a destination for the refugees from LA and the Bay area, pushing up prices in desirable neighborhoods. But it is still in CA, where governmental policies continue to drive away businesses and people.

Submitted by Coronita on September 1, 2021 - 7:13am.

EconProf wrote:
Lots of fun anecdotes here about skateboarding, baseball cards, and relocations of rich people to San Diego's coastal areas. But yesterday a factoid came out from the Hoover Institute of Stanford University that is more relevant to RE trends. CA has lost more businesses to other states so far this year than all of last year: 74 so far in 2021 vs. 62 in all of 2020. So the exodus of people (as per Census Bureau) and businesses is accelerating.
San Diego's advantages for the wealthy elite will always make it a destination for the refugees from LA and the Bay area, pushing up prices in desirable neighborhoods. But it is still in CA, where governmental policies continue to drive away businesses and people.

G23...

BINGO!

Submitted by sdrealtor on September 1, 2021 - 7:18am.

Guess the heat is getting to you and you couldn't stay away. Welcome back!

Is that a net number or simply those that left? If it's only those that left, well you know it's meaningless without knowing how many came. I keep seeing new businesses popping up everywhere around town which is what those of us in SD care about.

The demise of CA is oft reported. It's the conservatives favorite trope to trot out in the news every few months. Has been for decades

If we were on the east coast comparing SD to bay area would be like comparing Philadelphia to Charleston South Carolina

Submitted by Coronita on September 1, 2021 - 7:53am.

Given how successful Bingo night was at one of the senior centers in Carlsbad... I'm going to have to talk to one of my condo's HOA board to organize such an event...so that the really bored old lady and dude on the HOA board can find something more productive to do instead of pestering people with random bullshit...

That said. Some of my employees from Mexico City recently decided to move from Mexico City to Utah. They liked it better there because they said the cost of living for them is affordable more so than CA...So a lot of my engineers on my team that currently is in Mexico City is seriously considering relocating to Utah. I think my senior engineer from there just closed escrow on a house. So I can see how it can be appealing to new immigrants moving forward who are just starting out.

They would have done this sooner but the trump administration previously put a hold on a lot of visas along with the pandemic, the embassy was basically shutdown and my engineers couldn't even get their TN visas renewed. But now that things are opening up again, and visa applications are starting again by the Biden administration, the backlog is receding so we got a lot of folks on TN visas that we are now applying for H1-B status with the eventual move to permanent residence. That's great news.

So I think EconProf, you are correct. Having a lower cost of living, and housing cost, is beneficial to a lot of peoplem specifically the high tech immigrant workers first starting out looking to plant their seeds in the U.S who can now work remotely. A lot of them figured out it makes more sense to do this in places like UT than CA these days.Over time, I'd expect UT to end up being more diverse as more immigrants starting out find these places are better for their wallets.

Submitted by The-Shoveler on September 1, 2021 - 8:13am.

Seriously?

We have a few engineers in Guadalajara but they don't seem interested in immigrating (but really never asked the so don't know).

Also agree bingo nights would be much more productive use of the HOA's board members time LOL.

Submitted by XBoxBoy on September 1, 2021 - 8:25am.

EconProf wrote:
But yesterday a factoid came out from the Hoover Institute of Stanford University that is more relevant to RE trends. CA has lost more businesses to other states so far this year than all of last year: 74 so far in 2021 vs. 62 in all of 2020. So the exodus of people (as per Census Bureau) and businesses is accelerating.

Honestly, truth be told, I hope a lot more people and companies leave. It would make me very happy to have fewer people in San Diego. (It would also make the ridiculous rise in house prices slow which I would like.)

Unfortunately, from everything I see, people aren't leaving, house prices are still rising, and California still seems to be the land of opportunity. I wish it wasn't so, but it does seem to be that way.

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