April 8, 2008

Malaise: Stage II

Where have all the flowers gone?

DURING the whole of a dull, dark, and soundless day in the autumn of the year, when the clouds hung oppressively low in the heavens, I had been passing alone, on horseback, through a singularly dreary tract of country; and at length found myself, as the shades of the evening drew on, within view of the melancholy House of Usher. I know not how it was — but, with the first glimpse of the building, a sense of insufferable gloom pervaded my spirit. … I looked upon the scene before me — upon the mere house, and the simple landscape features of the domain — upon the bleak walls — upon the vacant eye-like windows — upon a few rank sedges — and upon a few white trunks of decayed trees — with an utter depression of soul …

Thus opens the THE FALL OF THE HOUSE OF USHER by the world’s first short story craftsman, Edgar Allan Poe. You can’t see it in the houses themselves, but some of the listings in San Diego East County are growing cobwebs. They’re becoming grey and cracked around the edges.

eapoe Malaise: Stage IIthospaine Malaise: Stage II

Yes, there is malaise. Buyers, sellers, lenders and Realtors feel it. The phrase “these are the times that try men’s souls” was the opening line from the pamphlet The Crisis that Thomas Paine wrote in December 1776. Today millions of Americans are feeling tried and tired. Malaise. Let’s look at some tired old listings starting with a venerable listing on the market for over 700 days:

Address Bd/Ba Sq.Ft. Days Price Comment
294 Chambers,EC 1/1 722 700+ $205k $284/sq.ft, HOA fee $200/mo
411 Hills Lane,EC 3/2 2,061 514 $595k $289/sq.ft, HOA fee $105
9270 Amys St,SV 2/2 869 479 $150k Orig. price: $270k, HOA $269
7575 Pacific Av,LG 3/1 1,400 475 $375k built 1914, was $300k in 2004
7531 Ohio Place,LM 3/2 2,185 461 $650k new 2006, $297/sq.ft/

Malaise strikes even our best friend

saddog Malaise: Stage II

Stage II is difficult. Stage I was the frenzy of speculation, the recognition of a crisis, the scramble to assess the damage. Stage II is the acceptance and waiting to see the full effect. Stage III is … well, you tell me.

You can follow my East County blog or here, and Carol’s Hillcrest, North Park and Ocean Beach blog. You’re at Redfin, the unbiased source for local real estate information.

[data from generally reliable sources, please comment on any errors!]


Post your comment




close