Home Buying in North Park>Question Details

Sarah Armend…, Home Buyer in Encinitas, CA

Why is inventory so low in North/South Park right now?

Asked by Sarah Armendariz, Encinitas, CA Sat Mar 3, 2012

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Trudi Geniale’s answer
Hi Sarah,

I agree with the others. There are many sellers that do not have to put there home on the market and inventory is low. But prices are slowly moving up in some areas and the short sales are starting to dry up in them.

Interest rates are low and there are buyers out there taking advantage of them. I am finding inventory under $400,000 are getting multiple offers like crazy. But there are a lot of smart buyers out there who are doing their homework and know exactly where homes should be.priced.

Best of Luck,
Trudi Geniale - Broker
Buycoastalrealtyllc.com
619-578-1100
0 votes Thank Flag Link Mon Mar 11, 2013
I see this question from one year ago, and the inventory is still low...I am keeping my eye on the area for opportunities, but essentially, we are living in a city with one of the lowest affordability ratings in the country. Less than 20% of people can afford the average priced home (around 439K-450K)). Many corporate flippers are ready to recoup investments, but the prices are a bit frothy. So, it may be that sellers will have to be a bit more realistic. A 20 minute drive gets you twice the house.
1 vote Thank Flag Link Sat Jan 25, 2014
Inventory is low everywhere! Sellers don't want to sell unless they really have to because of low prices.
1 vote Thank Flag Link Sat Mar 3, 2012
Don't hang yourself if all seems lost. I tried that suicide method and it actually does not work. Trust me, you'll thank me later.
0 votes Thank Flag Link Mon May 26, 2014
Because everyone here is DAMNED!!!!!!!!!!!!!!!!!!!!!!

Read my story about living in hell on earth (San Diego) here:

Well, at least on the bright side it's not downtown San Diego.

I think it's so wonderful that a rapist cop harassed a bunch of coke-headed alcoholic idiots at the Gaslamp. (You have to have an IQ under 80 to patronize that place anyway. I really hope that the people who were raped committed suicide.)

I attempted suicide FOUR TIMES to leave San Diego. (Obviously none of those attempts worked.) When I hung myself, it wasn't as a practical joke. I seriously expected the air to be cut off from my esophagus when the belt I used to hang myself with might hypothetically cut off the air-flow between my lungs and my brain and I was expecting to die.

This was after the justice system here was kind enough to let the former residents at the former crack-house that was bought up by Jeff Summitt, Tami Summitt, Noah Eisendrath, and Speare/Champion Properties nearly kill the tenants on multiple occasions.

I mean, I realize that I was supposed to be one of the "have-nots". That I'm the Vincent Van Gogh of San Diego. So what happens? If blowing my brains out would work (and four failed suicide attempts says I'll end up in a coma from shooting myself or making a police officer shoot me so I can finally die!!), then hypothetically worthless consumer slaves who believe that money gives them a soul or a personality sell my stuff because otherwise they're all worthless incompetent trust-fund babies. Then I'm forgotten like my grandfather or Jacob Faust by a bunch of gosh-darned yuppie slaves who all deserve to kill themselves!

So, it could be worse. You could live in San Diego where EVERYONE is nothing. EVERYONE is basically seen as a stock-ticker and if you can't afford to sue the city, guess what, nobody gives a DARN about you.

Anyway, so it could be worse. Don't move to San Diego. This place is evil. (I still want to be thanked for my suicide attempts. I was trying to do a favor for my step-mother, my potential employers, the San Diego Unified School District, the child protective services who took me away and ruined my life since I was 7 years old and left me completely broken until I was 27 years old.)

Love is a lie, greed has damned all of humanity, and nobody will be free until death rescues us from the curse that is living.
0 votes Thank Flag Link Mon May 26, 2014
It's low everywhere and has been for to long now!! Even the rental market is low on inventory... its crazy.
0 votes Thank Flag Link Mon May 26, 2014
Inventory is low throughout San Diego, and South Park and North Park are 2 of the hottest and most desirable markets so available listings move fast.
0 votes Thank Flag Link Fri Feb 14, 2014
I live in the (NP) area and reason is because it is such a desirable neighborhood (especially the closer you get to Morley field). I'm seeing more FOR SALE signs in the past month, so hang in there. You'll find something soon.
0 votes Thank Flag Link Thu Jul 25, 2013
As the others have said, inventory is low throughout the county, but you are correct in your observation about NP/SP. With prices on the rise, many people are watching the market and seeing how far things will continue to increase before making any moves - especially if they don't have any other motivation to sell.

I would argue that there are other factors to consider if someone is debating whether or not it's the right time to list their home.

1) Interest rates are still very low meaning the market is flooded with qualified buyers that CAN and WILL make offers on homes (creating the bidding wars we are seeing in the Metro Area). This won't last forever and when the demand decreases because rates go up (however gradually), there will be less people hurrying to buy and driving prices up so quickly.

2) New construction permits are on the rise in a big way compared to recent years and people waiting to sell their homes until prices "reach the top" are going to soon realize they are in competition with a lot of new construction coming on the market. Though this probably only relates to NP/SP indirectly.

I have also found that many people who don't have their homes listed may still be interested in selling if the situation arises. I have had some success with direct mail advertising buyers that are willing to purchase their home.

Ross Anthony
MetroLivingSD.com
jrossanthony@gmail.com
0 votes Thank Flag Link Tue May 14, 2013
Hi Sarah,
Inventory is low throughout the city right now. Sellers aren't selling if they don't have to and buyers are interested because the interest rates have dropped below 4%. We are trending toward a sellers market and who knows how long the interest rates will remain low. Also, there are many investors actively buying.
At this point I highly recommend you connect with an experienced, aggressive Realtor who will work with you to create a buying plan and get you positioned to get a great deal.
Buyers who are shopping on the internet are missing the deals during this busy season.
Janet McCarthy
Connect Realty
jmccarthyhomes@gmail.com
http://www.BestSanDiegoHomesGuide.com
858-243-5719
0 votes Thank Flag Link Sun Jun 3, 2012
Hi Sarah,
I currently have buyers in escrow in North Park, so I am very familiar with the inventory. It seems that inventory is low and that is driving prices up! Feel free to contact me directly and I can show you some really great homes and we can keep a sharp eye out for any that come on the market.

Thanks!
Sinead McAllister
Broker
McAllister Homes Real Estate
858-205-5215
brokermcallister@gmail.com
0 votes Thank Flag Link Sat Mar 3, 2012
Hi Sarah,

As mentioned by another agent, inventory is low in many San Diego neighborhoods. This is due to a number of factors such as investors entering the market and first time home buyers taking advantage of low interest rates.

In the event you want to stay up to date when new properties hit the market, go to http://www.SanDiegoHomeSearcher.com and you can set up a free account to get market updates, new listings, price changes, and much more.

Good luck finding a place!

David Stone
Greater Good Realty
619-206-1551
CA DRE# 01888818
0 votes Thank Flag Link Sat Mar 3, 2012
I have a new listing coming up in South Park this month. 3bed, 1bath, canyon lot - call me for first showings.

Sarah Scott, Windermere
Cell 619.840.2767
Info@sarahinsandiego.com
0 votes Thank Flag Link Sat Mar 3, 2012
Sarah
Right now there are only 23 homes that are active in the market in this area. The prices range from $250,000 for a 600 sq. ft. home to homes over a million dollars.
There are another 58 homes that have offers accepted at this time. It is a desirable area so homes do not stay on the market very long.
If you would like more information please contact me at your convenience.

I am never too busy for your referrals

Jerry Heard
Your Broker
The San Diego Property Shop
http://www.TheSanDiegoPropertyShop.com
jerry.sdps@cox.net
Direct 619-920-9796
Office 619-269-5545
Fax 619-269-9168
CA DRE # 00648687
0 votes Thank Flag Link Sat Mar 3, 2012
Hi Sarah,

Inventory is pretty low everywhere, but depending on what you're buying, it could be more difficult. What type of properties are you looking for, and what type of financing are you using? It makes a difference! If you know your financing type, at least you won't waste your time on properties that won't work!

Feel free to email or call, and I'll be happy to help you move in the right direction. There are sometimes work-arounds in different situations too. You just need experienced lenders on your side who can think outside the box to make some deals work.

Warm Regards,
Cory La Scala, REALTOR
Independence Realty
0 votes Thank Flag Link Sat Mar 3, 2012
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