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  • November 17, 2009 at 9:53 PM #16681
    smshorttimer
    Participant

    We are about to enter escrow on a property in an older portion of San Marcos’ Discovery Hills neighborhood.

    It didn’t dawn on me until tonight that the price per square foot – $238 – would be almost $25 more PSF than a couple of recent comps. Of course, there are listings out there now trying to fetch as much as $275ish, but they’re just that – listings.

    We made our first offer, for list price, three months ago. By the time the lenders agreed on a figure – $35K above list – the two parties ahead of us had bought elsewhere. Our agent says I should save my freakouts for the appraisal. He says price per square footage generally drops as the square footage increases, and that this house’s condition justifies the price. I agree that it doesn’t seem to need anything.

    Inventory quantity and quality in our range (<370) has been so poor, especially when factoring in schools, that I'm afraid I might concede a $10,000 overpayment just to settle this. We've looked at 80-90 properties going back to 2007.

    I know I shouldn't just focus on monthly payment, but it looks like it will be a couple hundred less than our rent after taxes. And we'd save a few bucks on energy and elsewhere, too, as it's smaller.

    November 18, 2009 at 2:05 AM #483888
    CA renter
    Participant

    If you’re saving money by buying instead of renting, and your job is stable, it sounds like you might be getting a good enough deal.

    Inventory is being so manipulated that it’s just not worth it for some of us to look at houses right now. If you intend to stay for the long haul (10 years or more), go for it.

    Please keep us updated and lets us know how the rest of the transaction goes. Good luck! 🙂

    November 18, 2009 at 2:05 AM #484741
    CA renter
    Participant

    If you’re saving money by buying instead of renting, and your job is stable, it sounds like you might be getting a good enough deal.

    Inventory is being so manipulated that it’s just not worth it for some of us to look at houses right now. If you intend to stay for the long haul (10 years or more), go for it.

    Please keep us updated and lets us know how the rest of the transaction goes. Good luck! 🙂

    November 18, 2009 at 2:05 AM #484512
    CA renter
    Participant

    If you’re saving money by buying instead of renting, and your job is stable, it sounds like you might be getting a good enough deal.

    Inventory is being so manipulated that it’s just not worth it for some of us to look at houses right now. If you intend to stay for the long haul (10 years or more), go for it.

    Please keep us updated and lets us know how the rest of the transaction goes. Good luck! 🙂

    November 18, 2009 at 2:05 AM #484055
    CA renter
    Participant

    If you’re saving money by buying instead of renting, and your job is stable, it sounds like you might be getting a good enough deal.

    Inventory is being so manipulated that it’s just not worth it for some of us to look at houses right now. If you intend to stay for the long haul (10 years or more), go for it.

    Please keep us updated and lets us know how the rest of the transaction goes. Good luck! 🙂

    November 18, 2009 at 2:05 AM #484429
    CA renter
    Participant

    If you’re saving money by buying instead of renting, and your job is stable, it sounds like you might be getting a good enough deal.

    Inventory is being so manipulated that it’s just not worth it for some of us to look at houses right now. If you intend to stay for the long haul (10 years or more), go for it.

    Please keep us updated and lets us know how the rest of the transaction goes. Good luck! 🙂

    November 18, 2009 at 8:18 AM #484760
    sdrealtor
    Participant

    If your house is smaller than the recent comps it could very well be in line with them. Your agent is correct that $/sq ft falls as the house gets bigger. How big is your house relative to the recent comps?

    November 18, 2009 at 8:18 AM #484533
    sdrealtor
    Participant

    If your house is smaller than the recent comps it could very well be in line with them. Your agent is correct that $/sq ft falls as the house gets bigger. How big is your house relative to the recent comps?

    November 18, 2009 at 8:18 AM #484448
    sdrealtor
    Participant

    If your house is smaller than the recent comps it could very well be in line with them. Your agent is correct that $/sq ft falls as the house gets bigger. How big is your house relative to the recent comps?

    November 18, 2009 at 8:18 AM #483908
    sdrealtor
    Participant

    If your house is smaller than the recent comps it could very well be in line with them. Your agent is correct that $/sq ft falls as the house gets bigger. How big is your house relative to the recent comps?

    November 18, 2009 at 8:18 AM #484075
    sdrealtor
    Participant

    If your house is smaller than the recent comps it could very well be in line with them. Your agent is correct that $/sq ft falls as the house gets bigger. How big is your house relative to the recent comps?

    November 18, 2009 at 12:20 PM #484160
    smshorttimer
    Participant

    [quote=sdrealtor]If your house is smaller than the recent comps it could very well be in line with them. Your agent is correct that $/sq ft falls as the house gets bigger. How big is your house relative to the recent comps?[/quote]

    The house is a little over 1500. The comps are 240 and 320 more sq feet, respectively. After my post, my wife reminded me that we looked at a newer but smaller house nearby that went for $260 per square foot. But it’s also 16 years newer, so maybe that’s why our agent didn’t include it.

    November 18, 2009 at 12:20 PM #484845
    smshorttimer
    Participant

    [quote=sdrealtor]If your house is smaller than the recent comps it could very well be in line with them. Your agent is correct that $/sq ft falls as the house gets bigger. How big is your house relative to the recent comps?[/quote]

    The house is a little over 1500. The comps are 240 and 320 more sq feet, respectively. After my post, my wife reminded me that we looked at a newer but smaller house nearby that went for $260 per square foot. But it’s also 16 years newer, so maybe that’s why our agent didn’t include it.

    November 18, 2009 at 12:20 PM #483992
    smshorttimer
    Participant

    [quote=sdrealtor]If your house is smaller than the recent comps it could very well be in line with them. Your agent is correct that $/sq ft falls as the house gets bigger. How big is your house relative to the recent comps?[/quote]

    The house is a little over 1500. The comps are 240 and 320 more sq feet, respectively. After my post, my wife reminded me that we looked at a newer but smaller house nearby that went for $260 per square foot. But it’s also 16 years newer, so maybe that’s why our agent didn’t include it.

    November 18, 2009 at 12:20 PM #484532
    smshorttimer
    Participant

    [quote=sdrealtor]If your house is smaller than the recent comps it could very well be in line with them. Your agent is correct that $/sq ft falls as the house gets bigger. How big is your house relative to the recent comps?[/quote]

    The house is a little over 1500. The comps are 240 and 320 more sq feet, respectively. After my post, my wife reminded me that we looked at a newer but smaller house nearby that went for $260 per square foot. But it’s also 16 years newer, so maybe that’s why our agent didn’t include it.

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