New low of PPSF in Carmel Valley

User Forum Topic
Submitted by market_guy on August 26, 2009 - 3:31pm

This SFR in Southhampton_Cove closed for 278/SQFT.
I do not see anything particularly wrong with this house.

The Pardee Sub Division Manzanita Trails across the Carmel Valley Road having impact on this area?

http://www.sdlookup.com/MLS-090021278-52...

thanks,
MG

Submitted by gverdi on August 26, 2009 - 6:13pm.

I think you meant this @$244/sqft:

http://www.sdlookup.com/MLS-090010201-39...

Submitted by zk on August 26, 2009 - 9:47pm.

I think the Southhampton Cove house has some freeway noise. Very inexpensive nonetheless.

As for the Corte Hierba one, the pool is pretty funky looking, but nothing unfixable. $774k for 3172 sq ft and a pool and a nice-sized yard? That's a giant chunk down and an amazing comp killer.

Submitted by flu on August 26, 2009 - 10:31pm.

zk wrote:
I think the Southhampton Cove house has some freeway noise. Very inexpensive nonetheless.

As for the Corte Hierba one, the pool is pretty funky looking, but nothing unfixable. $774k for 3172 sq ft and a pool and a nice-sized yard? That's a giant chunk down and an amazing comp killer.

The place on Corte Hierba needs a lot of work. Expect to spend about $100k+ on top of that.

Submitted by pepsi on August 26, 2009 - 10:33pm.

Southhampton is a regular sale, and actually not too bad. The pool also have an automatic cover, so it is pretty nice.

There is only one bed room up stair, so the lay out is a little strange.

Submitted by pepsi on August 26, 2009 - 10:34pm.

flu wrote:
zk wrote:
I think the Southhampton Cove house has some freeway noise. Very inexpensive nonetheless.

As for the Corte Hierba one, the pool is pretty funky looking, but nothing unfixable. $774k for 3172 sq ft and a pool and a nice-sized yard? That's a giant chunk down and an amazing comp killer.

The place on Corte Hierba needs a lot of work. Expect to spend about $100k+ on top of that.

And you don't really have a view and not much privacy.

Submitted by AN on August 26, 2009 - 10:37pm.

flu wrote:

The place on Corte Hierba needs a lot of work. Expect to spend about $100k+ on top of that.

Really? $100k+? What's wrong with it that make you think it'll need $100k+? Based on the pictures, only the backyard need a lot of work. You can easily demo and fill in the pool for probably around $15k.

Submitted by cv2 on August 27, 2009 - 9:06am.

What amazed me is that how much money the owner has extracted from the house. I hope IRS go after those thieves.

Another interesting observation is that both houses appreciated 4% or 5% annually from its 1999 price. It is higher than the historical 2% but it is 2% over inflation. Again, it actually proves that housing is a good long term investment.

Submitted by flu on August 27, 2009 - 11:28am.

AN wrote:
flu wrote:

The place on Corte Hierba needs a lot of work. Expect to spend about $100k+ on top of that.

Really? $100k+? What's wrong with it that make you think it'll need $100k+? Based on the pictures, only the backyard need a lot of work. You can easily demo and fill in the pool for probably around $15k.

Just because :)

Submitted by AN on August 27, 2009 - 11:29am.

flu wrote:
AN wrote:
flu wrote:

The place on Corte Hierba needs a lot of work. Expect to spend about $100k+ on top of that.

Really? $100k+? What's wrong with it that make you think it'll need $100k+? Based on the pictures, only the backyard need a lot of work. You can easily demo and fill in the pool for probably around $15k.

Just because :) (No it's not me.)


Man, how many times are you editing this post? :-D. It must be in pretty crappy condition to need $100k in repair. That's amazing since that house is not very old.

Submitted by LAAFTERHOURS on August 27, 2009 - 12:40pm.

Whats up with the cheap plastic bench inside the waterfall? And the treadmill next to the pool? Get a workout then rinse off?

Submitted by flu on August 27, 2009 - 1:00pm.

AN wrote:
flu wrote:
AN wrote:
flu wrote:

The place on Corte Hierba needs a lot of work. Expect to spend about $100k+ on top of that.

Really? $100k+? What's wrong with it that make you think it'll need $100k+? Based on the pictures, only the backyard need a lot of work. You can easily demo and fill in the pool for probably around $15k.

Just because :) (No it's not me.)


Man, how many times are you editing this post? :-D. It must be in pretty crappy condition to need $100k in repair. That's amazing since that house is not very old.

Check out the google street view of this house at once upon a time.

Submitted by Ren on August 28, 2009 - 12:15pm.

flu wrote:
Check out the google street view of this house at once upon a time.

Is that a repair of fire damage?

Submitted by PadreBrian on August 28, 2009 - 2:46pm.

There has never been a fire over there.

Submitted by market_guy on September 9, 2009 - 11:24am.

Looks like finally REOs are starting to hit carmel valley:

http://www.sdlookup.com/MLS-090051125-54...

Another potential comp killer?

regards,
MG

Submitted by fsbo on October 7, 2009 - 8:29pm.