San Diego Housing Bubble News and Analysis

That lot size gives the term 'postage stamp' a run for its money. Might as well get a condo for alot less.

Can someone please tell me what is so great about Carmel Valley? I don't get it. It's not on the coast, it's almost all tract houses and it's relatively expensive. I can't believe that it would be the schools drawing buyers. It's way cheaper to buy a house elsewhere and put your kids in private schools. I know there are a lot of people on this blog interested in this area. What's the appeal?

Mainly the schools and close to the golden triangle.

It's not just the schools. Places with good schools are more likely to have good neighbors. If your a family, you want to be around other families like yours. And CV for better or worse is seen as a good place to raise a family.

At almost $370 per square foot, its still overpriced. It has nothing that would justify a price that high compared to recent closings. No view, no lot, no recent remodel. But its currently the lowest price SFH in CV, so someone might snatch it.

People there don't know that it is not on the coast. They overpay because they think they are going to run into Clint Eastwood or get invited to play a round at Pebble Beach.

CV is way overpriced. It used to be for people who wanted to live close to the coast but couldn't afford buying a home in LJ or DM.

The main appeal for my family is that it's a reasonable commute to UTC and Carlsbad, which is where my wife and I work, respectively. Good schools are a plus.

It's bank owned and I'm not certain if its a Winwood duplex or not.

This house is a 5 minute walk to two different elementary schools, 5 minutes to the middle school and probably 10 minute walk to Torrey Pines High. Two minutes to the 56, 5 minutes to the 5, 10 minutes to the beach. Five minutes to two large shopping centers with supermarkets, restaurants, boutique and services.

I believe the answer is location, location, location.

way too expensive even in CV

That must be it Rustico...Genius...

Ditto...

On the bright side, when this closes, it will be a new, low comp in immune Carmel Valley.

I mean near peak 12519 Montellano Terrace sold on 12/21/2005 for $604,000.

That's 75k off.

sold on 12/21/2005 for $604,000.

Then it is a deal at $300's. Too expensive at $500s. Bubble grew by at least 100% from equilibrium; yes, even in CV, lovely as it may be.

See: Can you afford it now?
http://www.latimes.com/business/la-fi-co...

for $500K, you can buy:

For that amount in downtown Los Angeles, you can now cozy up to the super-rich. Four units in the Eastern Columbia building are listed for sale from $465,000 to $599,000. This is the same building in which a unit sold for $2.275 million in October.

For $750K, there is a picture of a much better, larger house, 10 blocks from beach in Huntington Beach!

Remember, we are still in early stage of credit collapse!

My family moved to a "good area" when I was a kid.
Unfortunately, we moved two doors away from my friend, Gretchen, who single handedly corrupted me at the age of 10.
It only takes one trouble maker on the block to do it.
IMO it's better to scope out the neighborhood that you're moving to before hand, no matter where it is and check out the kids, then supervise them really well so that you know what they're up to.

Careful fredo,
Gretchen and I have been very happily married for 20 years.

I think you make Fredo's point for Gretchen's corruptive powers no, David? :^)

Why do people like different areas? Don't know.

Good community, high concentration of professionals, convenience to access different things, decent schools, pretty well patrolled, less hotter than inland like 4s.

The idea of living in on location and driving to somewhere across town to drop off kids isn't necesarily practical unless you have a stay at home spouse, which then in that case comes the question on affordability of private schools on a single income. Last time I checked, private schools weren't exactly cheap. Anyone want to take a guess?

sd-- I beg your pardon.
My sincerest wishes for Gretchen's and your continued happiness.
Does she still like to throw oranges at cars?

Went pending this week. Someone didn't think it was way overpriced....