Spring Valley Blues

‘rotten neighbors’ strike again

Last Monday we told you about the Rotten Neighbors web site and the negative effect it can have on property values. Today I am sad to report that the news is full of a story involving approximately 11 sex offenders living together in a Spring Valley family neighborhood. This isn’t new- here’s an earlier story on the same subject. Few San Diegans are aware of Spring Valley other than its famous weekend swap meet and Mt. San Miguel, studded with antennae. Now they have a different and unfortunate mental image that may stick with this sprawling community just east of the City.

I’d like to take a few words to suggest that there are some very nice neighborhoods in Spring Valley. Some look a bit run down, some are old but well maintained, and others are new and thriving. There are regular homes, condos, and mobile homes available to fit any reasonable budget.

Good neighbors

Good neighbors make all the difference.

Let’s take a look at some recent sales for a hint of what’s available.

3184 Chelsea Park Cir
Sold for $410,000 on Feb 8
3 br 2 ba 1,824 sqft
Single-Family Home
Year Built: 1979
Price/sqft: $225

9723 Birch St
Sold for $340,000 on Feb 8
3 br 2 ½ ba 1,865 sqft
Single-Family Home
Year Built: 1990
Price/sqft: $182

8718 Kelso St
Sold for $310,000 on Feb 8
3 br 1 ½ ba 1,632 sqft
Single-Family Home
Year Built: 1958
Price/sqft: $190
Lot Size: 6300.0 sqft

8107 Cameron Dr
Sold for $340,156 on Feb 7
3 br 1 ba 1,000 sqft
Single-Family Home
Year Built: 1960
Price/sqft: $340
Lot Size: 6300.0 sqft

Sales happen!

Many more homes sold recently in Spring Valley.

Of course you want a trouble free neighborhood. You can investigate a community by following the links at some previous blogs: Rotten Neighbors, and a slew of other links.

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!]

Trippin in the East – Open Houses

High on Value, high on price

Trippin don’t come easy for most East County home buyers. It’s serious work, and yet some of these homes will make you wonder if you’re not in the wonderful land of Oz. Maybe you’ll find time to dodge some raindrops to see open houses this weekend. Follow the yellow brick road to these interesting offerings.

4615 Weston Road, El Cajon

Click the Weston Rd link below and check the sexy video too.

I’d love to tell you more about this Landale property. There is a long description of it but it’s in ALL CAPITALS and gives me a headache. I’m not sure it qualifies as an open house either as no day is given. It seems you have to call for an appointment. Until more of the ‘boom’ Realtors are eliminated by the ‘bust’, I suppose we’ll have to put up with defective listings. With luck, only the professionals will remain.

Actually there are lots of open houses this weekend, but some don’t provide an address or MLS number. It’s all about sales manipulation and the agents seem to be hoping that you will call for the missing information. Maybe they are hoping that they won’t have to actually open the house if they don’t get calls. I can understand that, but it doesn’t seem to be in the spirit of open house tradition. Agents used to make a commitment to the listing and the seller that they represent. With sales per agent slipping badly, you’d think there would be more commitment, not less.

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

Monday Madness – Don’t get Mad, get Even

Is this a Good Thing?

Wouldn’t you love to get back at that annoying neighbor who blocks your driveway and lets her dog poop in your yard and parties all night with the loud stereo? Or the other one who just won’t keep up his yard and has that old refrigerator sitting there for 6 months now? How ’bout the house down the street with all the drug users in and out, or the other one full of noisy college students? Well now you can tell the world–but you might want to think twice.

Madness is sometimes the result of too many conflicting desires, fears or pressures. In the movie Neighbors, we find John Belushi’s character seriously disturbed over the nutty behavior of neighbor Dan Aykroyd’s character and the threat to his security. The problem is solved when both parties become happily insane and conflict ends. This may not work for you and I, however and we may suffer madness of a different sort.

The controversial new web site RottenNeighbor is a boon to buyers and renters alike. This site offers anyone the opportunity to blow off steam about their rotten neighbors and at the same time it can provide a wealth of information for those who might want to move into the neighborhood.

The up side for complainers is that such pressure might get the offenders to change their behavior or move away. Good neighbors can rally and rant and maybe get support from law enforcement or code enforcement officers. The most common complaint about RottenNeighbor is that anyone can go there and complain about anything and there’s not much you can do about it. That’s pretty obvious, but a more subtle and serious problem has been neglected.

When you want to sell or rent your property, what does this portend? Potential buyers can learn more than the basics of your house & property & sales history & estimated value … they will know about your neighborhood’s ‘dirty laundry’. All those complaints that you might well have supported and maybe even reported, now serve to reduce your property value.

A different Belushi, Jim, got into a real real property dispute with his celebrity neighbor, Julie Newmar, over a fence, [ABC news 'Toxic Neighbors'] -the source of a long and bitter feud that brought a measure of madness to both. Can you believe that sweet Julie, aged 74, egged Jim’s house?

How does this new web trend affect you? How can you counter it when your primary interest is selling your home for top dollar? What similar web sites will spring up? You need to know more than your buyer knows.

First, you have to know what’s out there. Go to the site- check the reports for your neighborhood. Know what you have to deal with. If a neighbor is accused of disruptions; learn more, determine if the accusations are outdated and update the information at Rotten Neighbors if appropriate. Be prepared to discuss the matter with potential buyers or their agents. But don’t stop there…

You should also be aware of the Argis crime maps, the sexual offenders lists, the sites that document hazards from earthquakes, landslides, fires, the sites that tell about school quality and promptness of police/fire protection and even the sites that define your micro-climate–all of these affect what your property is worth and we’ve discussed them in this blog. You should be aware of everything that influences your property value and have a response prepared for any questions that may be asked.

Next door to a ‘rotten neighbor’ filed ~60 days ago.

On a tiny East County street with several rentals available and several homes for sale, one person ruins it for all: “cowboy is a white male who lives at [address]. he has been a nusiance every since i bought the apartment building next to where he is renting. he continually does not pay rent to his owner and is the kingpin of the street for all homeless and many people who constantly go to his home for drugs or selling random items in garage sales he has. …”

The ‘Burbs – Tom Hanks, Bruce Dern, Carrie Fisher, Rick Ducommun, Corey Feldman

A mysterious family moves into an old fixer-upper in the neighborhood. Strange comings, goings, and sounds are heard in the night. The Burbs is a slightly extreme view of neighbors gone mad, but it’s clear that people are protective of their homes and families. If you watch the movie again, try to estimate the value of Tom Hank’s house at various stages of the film. At what point do property values hit bottom?

I had thought to list some for-sale homes in the vicinity of troubled neighborhoods as an example of real situations where home values could be affected. It isn’t right to stigmatize any listing more than it already may be. In your search of listings, however, it is worthwhile to check RottenNeighbor.com whether you are buying or selling.

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

Foreclosure Details for Your City

from the Data Overload dept.

According to the site; “ForeclosureRadar.com is the only place where you’ll find complete up-to-date information on every foreclosure opportunity available in California, including exclusive daily updates on every auction. And we’re the only foreclosure service that provides a comprehensive set of professional tools for Realtors and Investors to find, evaluate, and track the best foreclosure opportunities.”

This California company started about a year ago and offers valuable information about foreclosures, auctions and statistical analysis. North County Times‘ Zach Fox tells us, “December foreclosure sales in San Diego County quadrupled year over year”. He refers to a number of sources including DataQuick and Hanley Wood Market Intelligence, a research firm based in Costa Mesa. But he gets much of his meaty data from ForeclosureRadar. These and other sources often charge a fee for their research but many offer a freebie or limited access for first time users. I used that opportunity to generate the chart below.

Sign of the times

Data overload is manageable if you stick to the specific data you need.

This chart shows specific properties in Lemon Grove, the smallest town in my coverage area. It is a small sample of the 200 properties in the limited sample report that ForeclosureRadar allowed me. Notice that some information is UNKnown and that the data includes single and multi-family residences. House numbers aren’t included and I don’t know if paying users get that info. I suspect that the estimated values are high, from my understanding of this market. If this kind of information is helpful to you, feel free to give it a try. Your Redfin agent will help you save even more when you’re ready to buy.

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

News Blip – Stuff you should Know

Featuring a prime local news source

We have some excellent news sources in San Diego. The Union-Tribune is best known and the local TV stations cover the crime and national politics scene to an extreme. But sometimes we want to know what our local elected officials are up to and what’s happening behind closed doors. For that we have KPBS radio, the Reader, the North County Times and voiceofsandiego.org. For business and commercial real estate news, we have the Daily Transcript.

The Voice tells us that “voiceofsandiego.org is a nonprofit, independent and insightful online newspaper focused on issues impacting the San Diego region.” Let’s look at some recent Voice of San Diego items.

‘Is Foreclosure Right for You?’ By Kelly Bennett tells of a local Carlsbad company that is telling troubled homeowners that they “may be able to stay in their house, payment-free, for eight months after going into foreclosure.” You Walk Away LLC is offering a $1000 service to make this happen and about 100 clients have signed up.

In ‘Mortgage Distress Spreads Beyond Subprime‘, Bennett highlights that prime loan defaults are increasing too. Lots of local facts support the story. Bennett strikes again with “SD Prices Sustained Nation’s Second-Worst Drop” – more facts and expert comments.

Rich Toscano of the Voice often has great insight into the local market. ‘January’s Foreclosure Explosion’ shows this amazing chart that speaks for itself. Much more available on his page.

East County readers will be happy to know that homicides are rare here (none on this map). Once again the Voice gives us us news we can use. In fact, it’s difficult to find any stories of auto accidents, lost puppies, grief stricken victims… If it’s not news that you can act upon, it’s probably not there. voiceofsandiego.org deserves your support.

Additionally the North County Times reports that “For the first time since 1996, the San Diego County Sheriff’s Department went a year without any deputy-involved shootings, it was reported Monday.” Good news for East County residents and buyers. Too bad they don’t report on the local housing market.

Finally on the local news front, we have lost our only significant commercial radio news source. KOGO radio (AM 600) has cut its news staff from 5 to 2, saying that talk shows are cheaper. KPBS (public radio) continues news broadcasts.

Enough local news for now. Today ‘Project Lifeline‘ was announced: “Six of the largest U.S. mortgage lenders on Tuesday will announce a program to identify seriously delinquent borrowers and halt any foreclosure process while they try to work out a new payment scheme”. According to various media, this is a big help to lots of homeowners (and perhaps lenders). Expect to hear more.

[Did I miss something important? Comment and let me know! It's free and easy.]

Monday Madness – You have Permission!

It’s OK now to forge ahead with your plans:

Yes, go ahead and buy that house. According to the National Association of Realtors (NAR) this is a good time to buy. A new ad campaign says “you’re making a good move” if you buy this year, and that buying a home is the key to ‘long term wealth’. The ad goes on to say “Interest rates are low and buyer opportunities have never been better.”

Sunday’s report by Gerri Willis urges caution, however. She quotes Nicholas Retsinas saying “…but be wary of buying just for profit. … this is probably not a good time.” Ms Willis acknowledges lowered prices and sellers’ prediciments, but then introduces Bruce Marks (not Parks), CEO of the Neighborhood Assistance Corporation of America. He says “To put this ad now … implying that you can generate wealth in a reasonable time frame, is a lie.”

The NAR spokesperson Stephanie Singer responded in a voicemail that the data backs them up.

Gerri Willis is the anchor of CNN’s weekend business program, Open House, a half-hour long weekly real estate show which presents a how-to approach on all things real estate.

In other upbeat news today, the National Oil & Gas Oligarchy (NOGO) says it’s OK to buy SUVs, the China Output Nationalist (CON) says we can buy toys again, and the Sugar Action Protectorate (SAP) says it’s OK to eat sugar. Thank goodness we have these organizations looking out for us!

Those adventurers who wish to take the NAR advice might want to consider these new listings in Lemon Grove:

Yes, these listings have something in common. You can walk from one unit to another once you reach tiny Grove Street. If I remember correctly, there are many more nearby. Chat with the management and natives if you think this area might be good for you. It’ll put you right downtown where you can walk to groceries, post office, library, restaurants and more.

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

Heads Up! Falling Prices

What Goes Up must Come Down

You may have heard that the boom has ended. Personally I’m a bit tired of it. Facts, figures, statistics, and opinions have filled every media outlet for many months now. The herd mentality of the media is hard to stop whether it’s Brittney, Presidential candidate intrigue or HP (housing panic). Does it really matter to you if San Diego prices are down xx%, or if inventory is up xx%? If you are a buyer you are only interested in the one house you will buy. If you are a seller, your concern is finding the ideal buyer. The actual price of the transaction has little to do with broad statistics.

Here are some homes that may be a bargain and they may offer the amenities that you need. These are all condos with extras that single family homes rarely offer. Notice that one comes in at only $122 per square foot! Take a look and forget about headline hype for a few minutes.

5700 Baltimore Drive, La Mesa

After 9 days the price dropped 40 thousand! Many comps from $235k to $340k. HOA Fee: $334/month. “Walk to Lake Murray and all the stores and restuants. Golf & Cowles mountain close”

5708 Baltimore Drive, La Mesa

Agent says, ” Right on the Lake!3rd. Floor View of Lake Murray & Cowels Mnt.” This complex offers many amenities for a HOA fee of $303/month. Condos such as this are sold as much for the lifestyle they offer as the actual living space.

Don’t let illiterate agents bother you. You will probably find it easier to negotiate a lower price with someone who is in too much of a hurry to write a legible property description. Follow up on these links, look at the comparables on the Redfin detail page. Jump to some that look interesting.

Since these are mostly big complexes, you can go there and get a feel for the local environment. Talk to residents, management and neighbors. Is there guest parking, is the laundry room clean, are there screaming children or junk cars in the parking area? Home owner fees can be significant and they can change significantly- are you comfortable with that for the long term? Are the residents owners or renters? A community of absentee owners isn’t a healthy community. Enjoy your explorations and let me know how it goes.

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

Open House Tour of Your Next Home

First-time home buyers may have to skip these:

These homes may be out of reach for some, but you need to fix this vision in your mind because they are the homes we all ultimately want to enjoy. The ‘success gurus’ tell us that we should imagine ourselves as already successful, surrounded by the people, things and lifestyle that we aspire to. This weekend you can do just that in these nice East County homes. Notice that many of these are new listings and one is a year old today. Remember that the just passed economic stimulus plan should make some of these homes easier to buy.

Sign of good times

Hop in the convertible and cruise on out to see these homes while the sun shines.

Is this young couple about to find the right house?

Not if you get there first!

Your neighborhood Redfin blog is just that. It’s for a particular neighborhood. It’s not a sales pitch (except for this rare comment you’re reading right now). We inform about specific listings, open houses, price reductions, neighborhood information and how to learn more from other companies. We respond to questions and comments about our blog and neighborhood. We (bloggers) are NOT Realtors and not on commission and not financially interested in any particular listing. I don’t think you’ll find that anywhere in the USA but at Redfin. We also have a corporate blog discussing new site features and the philosophy of our company. There are hundreds of blogs provided by other companies filled with random, general information that may or may not be useful to you. I’m proud to represent Redfin in San Diego. Let me know if I can do better.

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

Monday Madness – La Mesa Secret Stairs

High Adventure in East County:

When I discovered the Mount Nebo Stair Trails on an obscure page of the La Mesa Web site I knew that a challenge awaited: could I navigate the treacherous trails to the summit without serious incident? I carefully studied the map with its three trails, including the North Face which seemed the greatest challenge.

As it happens, I chose to begin with the North Face, assuming that if I survived, the others might be relatively easier. It was a wise decision, and as I wiped my forehead at the Vista Drive level and pulled a sip from my canteen, I was grateful for the Sherpa shoes and tinted Arctic goggles that protected me from the harsh Winter sun, low in the Southern sky. After catching my breath I determined to walk along Beverly Drive toward the next set of stairs, looking all the while for available real estate.

I observed that lots here are fairly large and off street parking is better than I expected. Few cars were parked on the street at mid-afternoon. I arrived in good health at the East Face and its two stair flights and without excess ceremony I began the climb. I became absorbed in the foliage all around: trees, flowering plants, citrus trees so dense that sunlight doesn’t reach the stairs.

A short break after the first flight and I was tackling the second toward Summit Drive. Something behind distracted me. I glanced back a couple of times and there was nobody there, but something… Well, when I reached Summit I saw what it was. A breathtaking view of the East to Mount San Miguel and beyond! The sight was so stunning I forgot about the stress of the climb.

I followed Summit around toward the final set of stairs. This time I would be descending. As I reached the West side of the mountain I was faced with views of Point Loma, Coronado, downtown San Diego and the glorious ocean. All the while surrounded by fantastic homes where families live with these views every day along with sunrises and sunsets that we can only imagine down in the flatlands.

I needn’t have worried about landslides in this area also known as Windsor Hills. As I carefully worked my way down the final flights of stairs I noticed that there were outcroppings of solid rock all around Mt. Nebo. It seems secure. My adventure took me around several streets as well as up and down the many stairs. In the thin mountain air I found the strength to snap several photos for you. You’ll be happy to know that my reckless charge to ascend untold heights met with no great harm.

I’m sorry to say that there are only one or two prime homes available up the hill and scores that are unavailable. When you see the community, you will understand why nobody leaves this place. It is one reason that La Mesa is the ‘Jewel of the Hills’.

4320 Valle Drive, La Mesa

A peek past the massive gate reveals a secluded hacienda.

7928 Pasadena

Not at the top of the hill, but a good corner property in a good community. Sign says ‘sold’ but I can’t find data on the MLS.

I’m not sure what’s up with 4322 Valle Dr- we listed it as a bargain in September and now it’s boarded up and I can’t tell if the listing is active. It’s a lot of work, but worth restoring:

4322 Valle Drive- before & after…

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

Opulent Open Houses

Comfort in the Country:

We have abundance this weekend and have selected some of the nicest for your touring pleasure. Every home here is worthy of praise and every one worthy of you.

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