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  • December 10, 2009 at 6:56 PM #16794
    SandraL
    Participant

    So, I’m curious about Cardiff. I’ve stayed at a B&B there, stopped at restaurants on the beach. Nice little area. Pricey, yeah.

    But what I’m have a hard time grasping is how properties like these listed below – all tear downs to a one — are worth a million dollars RIGHT now.

    Is this dirt really worth a mil – then the cost to build the house? Honestly?

    http://www.redfin.com/CA/Cardiff-By-The-Sea/1425-Rubenstein-Ave-92007/home/4136287

    http://www.redfin.com/CA/Cardiff-By-The-Sea/1580-Rubenstein-Ave-92007/home/4136361

    I saw a sign outside this one the other day at looks like it’s pending from the realtor site

    http://www.redfin.com/CA/Cardiff-By-The-Sea/1322-Rubenstein-Ave-92007/home/4136106

    What I don’t get – the nearby newer homes in the immediate area on similar size lots are averaging between $800 and $1.2k. How is a tear down worth $900k – $1 mil?

    December 10, 2009 at 7:56 PM #492832
    sdrealtor
    Participant

    These are all large, flat usuable lots. I dont know what newer homes you see on lots like these for those prices are but I havent seen them.

    December 10, 2009 at 7:56 PM #492994
    sdrealtor
    Participant

    These are all large, flat usuable lots. I dont know what newer homes you see on lots like these for those prices are but I havent seen them.

    December 10, 2009 at 7:56 PM #493379
    sdrealtor
    Participant

    These are all large, flat usuable lots. I dont know what newer homes you see on lots like these for those prices are but I havent seen them.

    December 10, 2009 at 7:56 PM #493468
    sdrealtor
    Participant

    These are all large, flat usuable lots. I dont know what newer homes you see on lots like these for those prices are but I havent seen them.

    December 10, 2009 at 7:56 PM #493705
    sdrealtor
    Participant

    These are all large, flat usuable lots. I dont know what newer homes you see on lots like these for those prices are but I havent seen them.

    December 10, 2009 at 9:42 PM #492872
    UCGal
    Participant

    I have to agree with sdrealtor. They are lots that range from 1/4 acre up, a few blocks from the beach. Most of the sales that have prices under $1million are 2003 or earlier. 2 of the lots are closer to 1/2 acre… which for coastal/beach area is HUGE.

    I put in a minumum of 1/4 acre and only found 3 listings between Birmingham and Santa Fe, west of I-5. The ranged from about 1.5 to 2Million.

    It’s the lot size combined with location. Construction is relatively cheap compared to the dirt… dirt with that location.

    Would I pay it? No. But it’s consistent with the area.

    December 10, 2009 at 9:42 PM #493034
    UCGal
    Participant

    I have to agree with sdrealtor. They are lots that range from 1/4 acre up, a few blocks from the beach. Most of the sales that have prices under $1million are 2003 or earlier. 2 of the lots are closer to 1/2 acre… which for coastal/beach area is HUGE.

    I put in a minumum of 1/4 acre and only found 3 listings between Birmingham and Santa Fe, west of I-5. The ranged from about 1.5 to 2Million.

    It’s the lot size combined with location. Construction is relatively cheap compared to the dirt… dirt with that location.

    Would I pay it? No. But it’s consistent with the area.

    December 10, 2009 at 9:42 PM #493419
    UCGal
    Participant

    I have to agree with sdrealtor. They are lots that range from 1/4 acre up, a few blocks from the beach. Most of the sales that have prices under $1million are 2003 or earlier. 2 of the lots are closer to 1/2 acre… which for coastal/beach area is HUGE.

    I put in a minumum of 1/4 acre and only found 3 listings between Birmingham and Santa Fe, west of I-5. The ranged from about 1.5 to 2Million.

    It’s the lot size combined with location. Construction is relatively cheap compared to the dirt… dirt with that location.

    Would I pay it? No. But it’s consistent with the area.

    December 10, 2009 at 9:42 PM #493508
    UCGal
    Participant

    I have to agree with sdrealtor. They are lots that range from 1/4 acre up, a few blocks from the beach. Most of the sales that have prices under $1million are 2003 or earlier. 2 of the lots are closer to 1/2 acre… which for coastal/beach area is HUGE.

    I put in a minumum of 1/4 acre and only found 3 listings between Birmingham and Santa Fe, west of I-5. The ranged from about 1.5 to 2Million.

    It’s the lot size combined with location. Construction is relatively cheap compared to the dirt… dirt with that location.

    Would I pay it? No. But it’s consistent with the area.

    December 10, 2009 at 9:42 PM #493745
    UCGal
    Participant

    I have to agree with sdrealtor. They are lots that range from 1/4 acre up, a few blocks from the beach. Most of the sales that have prices under $1million are 2003 or earlier. 2 of the lots are closer to 1/2 acre… which for coastal/beach area is HUGE.

    I put in a minumum of 1/4 acre and only found 3 listings between Birmingham and Santa Fe, west of I-5. The ranged from about 1.5 to 2Million.

    It’s the lot size combined with location. Construction is relatively cheap compared to the dirt… dirt with that location.

    Would I pay it? No. But it’s consistent with the area.

    December 11, 2009 at 11:15 PM #493291
    Multiplepropertyowner
    Participant

    Thank God the prices are like that or else we could not keep the riff raff out!

    December 11, 2009 at 11:15 PM #493452
    Multiplepropertyowner
    Participant

    Thank God the prices are like that or else we could not keep the riff raff out!

    December 11, 2009 at 11:15 PM #493838
    Multiplepropertyowner
    Participant

    Thank God the prices are like that or else we could not keep the riff raff out!

    December 11, 2009 at 11:15 PM #493926
    Multiplepropertyowner
    Participant

    Thank God the prices are like that or else we could not keep the riff raff out!

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