Carmel Valley Highlands: Saratoga resales

User Forum Topic
Submitted by jumbo on May 21, 2008 - 2:47pm

Lots of buying activity on resale Saratogas, all within a few houses of each other:

10707 Heather Ridge Dr
San Diego, CA 92130
View Sales History, Tax Assessment and Zoning
General Info
Status: Sold
Sold Price: $1,045,000
Sale Date: 05/16/2008
Originally FSBO for $1.175

5281 Foxborough and 10704 Heather Ridge just went pending after a month or two on the market. The other house on the corner of Foxborough is also in escrow.

10687 Heather Ridge Dr is the only one left

People must be looking at what little you get at Bridleridge for the money, don't want to wait, and don't want to pay for landscaping.

While these sellers all got less than was originally asked, demand still seems high. I'm not so sure I see significant price drops in CV over the next year or two as people are predicting.

‹ La Jolla is immune. A realtor told me so! Tales of an RSF owner ›
I agree that Saratoga and
Submitted by ILoveCarmelValley on May 21, 2008 - 7:16pm.

I agree that Saratoga and Derby Hill are holding up very well in this weak market. The first Derby Hill resale close a couple of weeks ago for $1.299 (list price was $1.299). The owner paid $1.147 15 months ago and even with landscaping and realtor fees, probably made a little money. I love Carmel Valley but even I can't fathom why demand seems so incredibly strong for these new Pardee developments.

Please tell me it's not
Submitted by Daniel on May 21, 2008 - 8:44pm.

Please tell me it's not called Carmel Valley Highlands :-) What's next? "Carmel Mountain Flatlands"? "Carmel Rainy Deserts"?

I have been really surprised
Submitted by SD Realtor on May 21, 2008 - 10:26pm.

I have been really surprised at CV activity the past 8 weeks. Demand has definitely been there.

SD Realtor

Maybe CV is sort of a sweet
Submitted by Fearful on May 22, 2008 - 8:58am.

Maybe CV is sort of a sweet spot for value preservation: At the top of the "plankton food chain"; strongly affected by move-up equity transfers (unlike the $raptorduck territory) but not vulnerable to the initial speculation runup; preserved by the school system ... the houses did not initially attract reckless buyers, and those same buyers are more likely to shrug off the high cost by virtue of the schools ... also, the schools attract buyers willing to hold on longer than the typical ... what does the future hold? Gravity eventually takes hold; as cost differentials to further north and to the east increase, downward pressure ...

Yes so far so good. But
Submitted by cv2 on May 22, 2008 - 9:54am.

Yes so far so good.

But there is a storm gathering: just go to foreclusreradar.com and type in zip 92130. The auction and REO is not much, less than 20 each but preforeclosure is over 60. Out of this 60, the majority is condo/townhomes but an increasing significant amount of SFR is the trend.

Here's an example Pardee
Submitted by cv2 on May 22, 2008 - 1:22pm.

Here's an example Pardee Portico development

http://www.sdlookup.com/MLS-081010705-60...

05/19/2008 $702,000 2y 6m -13% -5%
11/04/2005 $805,098 n/a - -

"This home has over $80,000 in upgrades and is truly a must see."

A must see to see $80K goes up in smoke :)

13% drop is nothing to write
Submitted by asianautica on May 22, 2008 - 2:03pm.

13% drop is nothing to write home about. Especially in San Diego. You can pretty much throw a dart at any area in North County and see houses losing much more than $100k, even a condo conversion in Mira Mesa lose more than that.

Yes, 13% drop is nothing in
Submitted by cv2 on May 22, 2008 - 5:03pm.

Yes, 13% drop is nothing in greater SD area but this is happening in the supposed invincible Carmel Valley...

Please tell me it's not
Submitted by He_Said on May 22, 2008 - 5:16pm.

Please tell me it's not called Carmel Valley Highlands :-) What's next? "Carmel Mountain Flatlands"? "Carmel Rainy Deserts"?

Ha, that's funny... you could always go old school and call it all by it's original subdivision name, given in the 80's after the Del Martians decidied it was just a cancerous carbuncle on coastal north county, and undeserving of recognition... "North City West".

In the long run I see that
Submitted by Carmel Valley J... on July 23, 2008 - 10:24pm.

In the long run I see that the value of the homes located in the Carmel Country Highlands area will hold strong, especially if your home has lots of square footage and the lot size is better than a postage stamp. For those who are buying Derby Hill homes could regain their purchase price if they make smart choices in upgrades and don't go crazy with the landscaping. For those who didn't get a chance to buy their "Dream Home" at Derby Hill I found out Pardee Homes will be building East of Carmel Mountain Road where it deadends. Ask the sales office staff at Bridleridge about it. The houses are expected to be 4600 sq. ft. and larger, but who knows how long you might have to wait for those to be available. I was told it will be 2-3 years from now. Many people are looking for larger homes, but don't want to move further East on the 56 to get it. My husband and I sold our home in 2006 and have been renting until the houseing market is right for buying. I would recommend doing this so when you find that model home you love so much you won't have any contingencies on selling your home. Pardee loves that!

Carmel Valley Journey
Submitted by fat_lazy_union_... on July 23, 2008 - 10:36pm.

Carmel Valley Journey wrote:
In the long run I see that the value of the homes located in the Carmel Country Highlands area will hold strong, especially if your home has lots of square footage and the lot size is better than a postage stamp. For those who are buying Derby Hill homes could regain their purchase price if they make smart choices in upgrades and don't go crazy with the landscaping. For those who didn't get a chance to buy their "Dream Home" at Derby Hill I found out Pardee Homes will be building East of Carmel Mountain Road where it deadends. Ask the sales office staff at Bridleridge about it. The houses are expected to be 4600 sq. ft. and larger, but who knows how long you might have to wait for those to be available. I was told it will be 2-3 years from now. Many people are looking for larger homes, but don't want to move further East on the 56 to get it. My husband and I sold our home in 2006 and have been renting until the houseing market is right for buying. I would recommend doing this so when you find that model home you love so much you won't have any contingencies on selling your home. Pardee loves that!

I heard that Pardee was going to build attached communities at the end of Carmel Mountain Road, specfically high end townhomes with shops nearby and supposedly a Trader Joe's.

If that's true, Bridle Ridge is the last detached community in the CCH area. Thank god.

How many of us were raised in
Submitted by Dukehorn on July 24, 2008 - 4:20pm.

How many of us were raised in homes of over 4600 square feet?

Assume a nuclear family of 4, does each person really need his own 1150 square feet?

I don't get why these McMansions are still going up.