Let's say Northpark or Northpark Square

[IACRenter_IHB]

You have very god facts here. I can go on redfin right now and find many properties for less than 400 /sq ft.

It will be under 300 sq ft. in 1 year 100% certain.

Well a little over a year has passed and...

8 Poway 2800 sqft (REO) Asking $799K at $284/sqft in BACKUP

17 Villager 3000 sqft (?Short Sale) Asking $880K at $291/sqft in BACKUP

9 Raines 3300 sqft (ShortSale) Asking $1.05 at $311/sqft ACTIVE

16 Sunnyvale 2800 sqft (REO) Asking $899K at $319/sqft ACTIVE

I am sure I missed some other sales in NP since I don't have MLS access and IPO's site has been downsized. But it looks like we are seeing some signs of edging to $300/sqft in NP. There are a lot of other WTF pricing going on but as more REO and future REO (i.e. Short Sales) inventory come online, I can't help but think this is inevitable.

What about sold comps in the last 3-6 months? List prices, no matter if the status is backup or active, mean only so much.

More updates on NP prices:

8 Poway CLOSED 7/24/09 $818K, (2800 sqft) ---- $292/sqft

44 Solstice CLOSED 7/1/09 $1.015M, (3250 sqft) ---- $312/sqft

(I am surprised it didn't close lower with such a bad feng shui address)

35 Malibu CLOSED 6/15/09 $1.3M, (4137sqft) ---- $314/sqft

10 Poway CLOSED 6/14/09 $913K, (2900sqft) ---- $314/sqft

One more update for August:

17 Villager CLOSED 8/7/09 $875K, (3000sqft) -- $291/sqft

 

[usctrojanman29_IHB]

You have very god facts here. I can go on redfin right now and find many properties for less than 400 /sq ft.

It will be under 300 sq ft. in 1 year 100% certain.

Well a little over a year has passed and...

8 Poway 2800 sqft (REO) Asking $799K at $284/sqft in BACKUP

17 Villager 3000 sqft (?Short Sale) Asking $880K at $291/sqft in BACKUP

9 Raines 3300 sqft (ShortSale) Asking $1.05 at $311/sqft ACTIVE

16 Sunnyvale 2800 sqft (REO) Asking $899K at $319/sqft ACTIVE

I am sure I missed some other sales in NP since I don't have MLS access and IPO's site has been downsized. But it looks like we are seeing some signs of edging to $300/sqft in NP. There are a lot of other WTF pricing going on but as more REO and future REO (i.e. Short Sales) inventory come online, I can't help but think this is inevitable.

What about sold comps in the last 3-6 months? List prices, no matter if the status is backup or active, mean only so much.

More updates on NP prices:

8 Poway CLOSED 7/24/09 $818K, (2800 sqft) ---- $292/sqft

44 Solstice CLOSED 7/1/09 $1.015M, (3250 sqft) ---- $312/sqft

(I am surprised it didn't close lower with such a bad feng shui address)

35 Malibu CLOSED 6/15/09 $1.3M, (4137sqft) ---- $314/sqft

10 Poway CLOSED 6/14/09 $913K, (2900sqft) ---- $314/sqft

One more update for August:

17 Villager CLOSED 8/7/09 $875K, (3000sqft) -- $291/sqft

Redfin really needs to stop lacking and update their system. Nice purchase by the buyer.