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| Sunrise - Monterey Bay |
Corrections … on both sides.
In responding to the erroneous claim that there is a fear-of-conversion "selling spree" happening in the park, I replied that there is almost nothing for sale in the park and implied that it was due to new owner interest in the possibility of owning the lot as well as the coach. While that might be a factor, the bigger factor is probably the economy.
When I started looking at parks about two years ago, both of the over-55 parks on Highway 1 in Pismo had multiple sheets of units for sale. Today Pismo Beach MHP only has 5 listings and Pismo Dunes (the larger, park-model oriented park) has 47 with 4 pending … still far fewer than two years ago.
I talked to a woman in the office at Pismo Beach MHP and asked why there were so few homes for sale and she said, "the economy." Pismo Beach is a share-owned park with shares selling for $250,000. It's hard to compare parks … located right across from the beach and within walking distance of Pismo down town, this park gets points for location. It loses points for over-crowding and a lack of greenery. And, close as it is to the beach, it has no views.
Continuing home from the beach, I stopped in the parks further away from the beach on Highway 1 and there was almost nothing for sale there either. The good news is that, if you're interested in selling, it's probably a pretty good time. The bad news is that this could put upward pressure on the lot prices. ;-(
Relax Jeff. Jeff McAllister worried during his Channel 12 interview whether or not his home would sell for $400,000 (assuming a $250,000 lot price and a $150,000 home value). It's still apples and oranges but there is a unit for sale in Pismo Beach MHP for $395,000 (including the $250,000 share price). It's bigger (1,950 square feet) but no garage. Apparently extensively upgraded inside and outside with exterior masonry. Closer to the beach but no view.
