Saddleback Wy San Marcos

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Submitted by 5yearwaiter on July 5, 2008 - 11:32am

Did any one notice the steep price drop in Saddleback wy area?. Recent short sale and transactions showing prices are declined almost 200k to 300K. These homes are ranging from 3000sft to 2600sft and the area is very attractive location. I still didn't understand why this kind of great locations decline such. I am not sure about that school district but for living on this gated community with Panoramic views is real worth. Can any one comment on this area like pros n cons?.

A few near by 3400 sft properties sold out at priced around 505K and even one at 480K price ranges

Recent Short Sale for 670 Saddleback wy for 3074 sft home is priced for 480K and the decline is exact 200k from previous purchase

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Yup ! there is almost 40 to
Submitted by 5yearwaiter on July 6, 2008 - 10:04am.

Yup ! there is almost 40 to 50% price drop in this area with few more attactive offers showing up for this same gated community.

San Marcos has some nice
Submitted by ronnybosh on July 6, 2008 - 7:19pm.

San Marcos has some nice areas unfortunately it is crammed between Vistajuana and North Escondiduana.

So this area lying between
Submitted by 5yearwaiter on July 6, 2008 - 7:40pm.

So this area lying between Vistajuana and North Escondiduana is a kind of not a great area. I know for one thing the school district for this one may not be good, but who want to live without those school district etc and all I believe it could be really a great place.

Still not a steal at $480K.
Submitted by bsrsharma on July 6, 2008 - 8:46pm.

Still not a steal at $480K. Somebody may grab it when it approaches/intersects $400K.

Bsrsharma, can we consider
Submitted by 5yearwaiter on July 7, 2008 - 7:13am.

Bsrsharma, can we consider there is much fall in the price for further to this area? It's already 200K price drop from the orginal buy.

Yes; 50% off from
Submitted by bsrsharma on July 7, 2008 - 9:01am.

Yes; 50% off from peak/reversion to 2000 prices appears very reasonable. A good thumb rule is to see Temecula price dynamics and add a price premium for a nearer location to San Diego. Temecula seems to be approaching/in the $100/SqFt for this size houses. So, $100-$150 seems like a fair price for north county.

If gas crosses $5, the downward pressure will be large enough to push most values towards the $100 side. Then, this house can easily go below $400K

I am also wondering about the
Submitted by alexsd on July 7, 2008 - 11:33am.

I am also wondering about the price drop in that part of San Marcos - East of CSUSM / South of Fwy78.
Discover Hill, just west of CSUSM seems to be 10% or more per sqft. Could it be the Spinter line noise or the manufactured homes east of La Moree?

Excellent explanation !! and
Submitted by 5yearwaiter on July 7, 2008 - 2:19pm.

Excellent explanation !! and sure it could be possible. If we draw then we can see slowly this trend will hit SD especially north of Rancho Bernardo including that 4S Ranch area too.