I would stay away from the Condo market in general. Condos don’t hold their value as well as Single family homes. Aviara Tramonto as zero lot line detached condos may do a bit better than larger multi-unit condo buildings.

Keep your eyes on the % renters in any condo development. The combination of large % of renters and large % of underwater homeowners is a recipe for continued depreciation.

Condos in Tramonto will very likely be selling in the 300Ks by the time all this is over in 2011 timeframe.

60 minutes just had a good summary of just how long this housing downturn will likely last. We have a 2nd wave of Option ARM/ALT A resets starting in 2009, these will continue thru 2011. It is comparable in size/scope of the subprime debacle.

http://piggington.com/60_minutes_2nd_wave_option_armsalt_as

If I were you, I would wait for a SFH. Carlsbad is one great town.

Bubblesitter

I would stay away from the Condo market in general. Condos don’t hold their value as well as Single family homes. Aviara Tramonto as zero lot line detached condos may do a bit better than larger multi-unit condo buildings.

Keep your eyes on the % renters in any condo development. The combination of large % of renters and large % of underwater homeowners is a recipe for continued depreciation.

Condos in Tramonto will very likely be selling in the 300Ks by the time all this is over in 2011 timeframe.

60 minutes just had a good summary of just how long this housing downturn will likely last. We have a 2nd wave of Option ARM/ALT A resets starting in 2009, these will continue thru 2011. It is comparable in size/scope of the subprime debacle.

http://piggington.com/60_minutes_2nd_wave_option_armsalt_as

If I were you, I would wait for a SFH. Carlsbad is one great town.

Bubblesitter

I would stay away from the Condo market in general. Condos don’t hold their value as well as Single family homes. Aviara Tramonto as zero lot line detached condos may do a bit better than larger multi-unit condo buildings.

Keep your eyes on the % renters in any condo development. The combination of large % of renters and large % of underwater homeowners is a recipe for continued depreciation.

Condos in Tramonto will very likely be selling in the 300Ks by the time all this is over in 2011 timeframe.

60 minutes just had a good summary of just how long this housing downturn will likely last. We have a 2nd wave of Option ARM/ALT A resets starting in 2009, these will continue thru 2011. It is comparable in size/scope of the subprime debacle.

http://piggington.com/60_minutes_2nd_wave_option_armsalt_as

If I were you, I would wait for a SFH. Carlsbad is one great town.

Bubblesitter

Single family homes can now be had in the low 500’s on nice size lots with Low/No HOA or Mello Roos fees in the Encinitas/San Dieguito school district which are generally regarded higher the C’Bad. Dont know if Tramonto will get down to the 300’s (I think not) unless it is really trashed and in a horrible location.

As big as 2nd wave is, the holders of those loans have things most of the sub prime holders did not. Things like assets, savings, jobs, supportive families etc. not that there wont be failures but the rate will be considerably lower than that of sub prime.

Single family homes can now be had in the low 500’s on nice size lots with Low/No HOA or Mello Roos fees in the Encinitas/San Dieguito school district which are generally regarded higher the C’Bad. Dont know if Tramonto will get down to the 300’s (I think not) unless it is really trashed and in a horrible location.

As big as 2nd wave is, the holders of those loans have things most of the sub prime holders did not. Things like assets, savings, jobs, supportive families etc. not that there wont be failures but the rate will be considerably lower than that of sub prime.

Thanks for the comments. I’m gonna skip on the Tramonto condo and target a decent Single Family Home.

Thanks for the comments. I’m gonna skip on the Tramonto condo and target a decent Single Family Home.