General Area in San Marino>Question Details

Paenca, Both Buyer and Seller in San Gabriel, CA

Your prediction - Will San Marino be the next Monterey Park?

Asked by Paenca, San Gabriel, CA Sun Mar 18, 2012

We are seeing a lot of foreign money into the housing market with cash offers over what the homes would appraise for. The school district and the proximity to surrounding Asian community is obviously the largest draw. Are you seeing a trend where Asians are moving in while non-Asians are moving out? Is San Marino heading where Monterey Park is today in the long run?

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2
John Arendsen’s answer
FYI, Asians have been moving into the San Marino neighborhood since the 80's. Where have you been? Fact of the matter is Asians are the absolutel best neighbors you could ever ask for. They are impecably neat and clean, very family driven, successful and focused. I'm not quite sure where you're going with this question but I'm very comfortable with Asian neighbors.
0 votes Thank Flag Link Sun Mar 18, 2012
Yes Asians have been moving into San Marino, but not in such high ratio and the large number of "cash" purchases seen recently. Many of the buyers don't even live here most of the time and a high number of houses are being turned into investment properties. I asked a very sensible and no offense intended question out of pure interest to protect my own hard earned money, I don't understand your negative and unnecessarily emotional attitude towards it. If you want to be helpful, please cite real and current statistics and provide logical rationales on why San Marino property value will always stay up, unlike Monterey Park.
Flag Sun Mar 18, 2012
Never there are to many established families. Small community no multi unit homes and schools
0 votes Thank Flag Link Sun Mar 18, 2012
What about the fact that there is a high percentage of vacant and rental properties in San Marino and some of which are in very poor shape?
Flag Sun Mar 25, 2012
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