If you feel San Diego home
prices are way too high,
well, people were saying the
exact same thing back in 1979.
In 1979, frustrating,
time consuming and oftentimes
depressing process news.
It's Janet Seppala aired
A5, part series on San Diego real estate.
True San Diego is the most
expensive place to buy a home,
and all of the continental United States.
But that doesn't mean that only the
affluent can buy here,
Newsid profiled a 3 bedroom,
2 bath Mira Mesa home that
today would sell for 750,000 land.
Bought her house for $430,000 and
she's done well, but it's nothing
compared to her neighbor Charles
Wilburn. When did you buy your house?
December 31st, 1976?
Charles paid 40,000 for his
home and if he sold it today,
I would go on the outlandish side
of things and demand $5 million.
You probably get it, he
jokes because the median price
for a San Diego home.
Has soared to $650,000,
they're exorbitant.
It's a lot of money.
I guess you're paying
for the Sunshine Tax.
In our archives.
We profiled this property
in Hillcrest that had two
homes on one lot for 86,000.
What do
you think you would have paid
for the average home in 1979?
Two 140,000. 98,000 no, no kidding.
When most of us think of La Jolla, we think
of high high housing costs in 1979.
Some people thought it was outrageous
to pay 69,000 for this one bedroom
condo block from the beach we
were researching just recently.
Right here I saw House
went for 25 mil. It's right there. Yeah.
So yeah, I don't even need
to know which one it is.
'cause I don't want to see
what 25 mil looks like. Like
many of us, La Jolla resident Russell Tan is
looking for the keys to
his time machine. What do
you think you could have bought
a house in La Jolla for in 1979?
I would say still in the millions,
maybe 2,000,000 three million,
at least $120,000.
Wow, that home that Russell
just mentioned is this 6000
square foot masterpiece.
It sits right here on the ocean.
It recently sold for a
lawyer record 24.7 million.
It's really
what dreams are made of.
But when you're paying hundreds of
thousands of dollars for a lot like this,
you think you get a house to
go along with it in 1979.
These lots at the top of La Jolla Mesa.
We're selling fast.
If money is no object,
or even if it is these lots selling
for more than $300,000 in the Jolla,
Mesa may interest you real tour.
Greg coming says a similar
lot today would cost you 2.5
million if any were available.
So there's just no.
Land you just don't see land very
much. The Greg Cummings team with Compass
Real Estate is seen razor thin inventory,
low interest rates and motivated buyers
from LA and San Francisco compared
to those markets, San Diego's on
sale. It's a discount, which is
surprising, but it is, you know,
you get far more money here than you
do in LA and the barrier this home
in Clairemont was bought by a young
married couple in 1979.
We profiled this couple who bought a 3
bedroom house in Claremont. For 68,000
every month you have money in the bank. One
decade earlier, Ray and Yvonne
Benton bought one of the first
homes in this neighborhood.
Would you pay for it?
Originally the house was 14
two $5099 a month there home
today would sell for 800,000.
Our children are going to inherit
something nice, you know.
'cause we have three of 'em you
own three houses on this block.
Yes wow, yeah, you guys hit
the real estate Jack pot.
The Bentons advice by hold on
tight and wait like so many Sandy
agens half with the home sweet home you
won the real estate
game. By all means, by all means, yeah.
In the zevely zone, San Diego,
we deserve to have high prices.
This is a cool place to be.
Jeff Sevely news eat.