15768 Paseo Del Sur, a Cassero Del Sur Twinhome

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Submitted by lovin_sd on January 20, 2012 - 2:32am

Hello Guys,

I have been a lurker here on Piggington and in the SD real estate scene for six long years but this one caught my eye.

http://www.zillow.com/homedetails/15768-...

This house (2424 sq.ft home on a 5050 sq. ft lot) sold last in Dec 2006 for $640K, and the sellers now are entertaining offers between $525K-$575K. Looks like they maintained the home in top condition, and put a lot into upgrades such as backyard work and such. I know the Mello Roos + Prop. taxes are 2% of the property value which amounts to about $11K per year. But, I think this is inevitable in the newer SD homes. One factor, positive perhaps, for this house is that it is right across the road from the Del Sur Elementary School.

Assuming the owners sell it for $550K, what do you Piggs think about the price then? And, what do you think about the quality of Cassero homes themselves?

Submitted by bpnbpn on January 22, 2012 - 12:40am.

Doesn't look like a cheap deal. It is still a town home and not a single family house.

Submitted by earlyretirement on January 26, 2012 - 7:40pm.

Did you move on it? Looks like sale pending as of 2 days ago. That went fairly fast..

Submitted by lovin_sd on January 26, 2012 - 9:19pm.

Yeah...bit the bullet after a very long time. My wife and I both toured the property twice, liked the home, backyard, and the proximity to the elementary school cum daycare. So, closing it at $555K. Let us know if it is grossly high :)

Submitted by earlyretirement on January 27, 2012 - 12:15am.

Hey I say if you love the house and area and plan to be in it for the long haul, it's a fine time to buy. It looks like a really beautiful house that is move in ready.

I wouldn't get too obsessed about trying to catch the absolute bottom. There is still strong demand in the area on pristine homes in move in ready condition. From when we looked last year, there was a lot of crap on the market but all the totally pristine, move in ready homes are ALL long since sold.

We bought in nearby Santaluz last year and LOVE the area. I waited on the sidelines for many years before finally buying last year and don't regret my decision to buy in the area at all. It's really incredible and we absolutely LOVE it.

Congrats...I hope the closing goes smoothly and welcome to the area. Let me know once you're in the area and coffee is on me.

Submitted by lovin_sd on January 27, 2012 - 9:23am.

You are right, we saw a whole lot of houses online and otherwise, but this one alone felt like it was our home at a price point we wanted. Thanks for the moral support :), and the coffee. I'll take up your offer if everything goes smoothly. Will update you once it's all over. Congrats on your new home as well!

Submitted by sdrealtor on January 27, 2012 - 9:57am.

Congrats and it seems like a good price for a nice move in ready home. A couple years ago I did a 4s short sale of a really nice house much smaller and no yard or landscaping around that price. Back at the peak I flipped a 2/2 condo in Encinitas nowhere near the beach and got close to that. With today's interest rates you ll be fine there as long as you want to stay. Consider your self a pigging ton winner like so many of us.

Cheers

sdr

Submitted by lovin_sd on January 27, 2012 - 10:14pm.

Thanks SDR. The rule of thumb my wife and I had, was to get a nice home that we could afford with only my income in case she needs to be offline for a year or two, even though we are DINKs now. We either found very nice but more expensive homes or poorly maintained but priced similar to the above home. Gotta commend the sellers for maintaining it well.

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