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  • February 14, 2013 at 11:36 AM #20524
    SDowner
    Participant

    Do you all think scripps ranch PPSF would come lower than 250/sqft? The current inventory is pushing up prices in desirable locations, but I am looking for specific guidance in SR region. I have read most of the old threads regarding SR. Not sure if SD R or sdrealtor was the resident expert for SR.

    February 14, 2013 at 11:51 AM #759378
    recordsclerk
    Participant

    I was saving for larger home in Stonebridge. Couldn’t save fast enough to catch that boat. Nothing in this market is pointing towards lower prices. Still some good deals on shorts, but getting harder to score. Good luck, I wouldn’t hold out for price corrections, you’ll miss the next boat. By the way prices are going up in all of San Diego, not just desirable locations.

    February 14, 2013 at 12:07 PM #759381
    bearishgurl
    Participant

    SDowner, I’m not a “SR specialist” but am assuming you’re looking at resale homes.

    I don’t see ANY neighborhoods in SD County going down in value in the coming years. Not even the ones within the severely-strapped and nearly bankrupt (if tax proceeds don’t get a lot higher VERY soon) PUSD.

    H@ll, even the “Santee sold-comp study” I finished yesterday (in the under $350K properties) came out higher than $250 per sf!

    In resale properties, improvements past owners completed run the gamut from cheesy to very high-end. There are so many variables determining what the ppsf would be in any given ‘hood or even single property, given that there are many room additions, second stories and pools installed in resale neighborhoods more than ten years old. In addition, SR has dozens of “2007 Cedar fire” rebuilds. Many of those rebuilds are custom and NOTHING like the tract home they replaced.

    IMHO, it seems you are “overthinking” your purchase too much. You shouldn’t be “fixated” on ppsf. Just find a resale that works for you and make an offer!

    February 14, 2013 at 12:12 PM #759382
    SD Realtor
    Participant

    Scripps has been moving higher along with all of the I15 corridor. It is really tough right now. The trends will not reverse organically. Your hope right now is for interest rates to move upwards. Other then that continue to rent or bite the bullet.

    February 14, 2013 at 12:36 PM #759383
    upwardspiral
    Participant

    Prices have been rising consistantly in Stonebridge, but you can still purchase in that neighborhood for less than $250 per sqft. Stonebridge is adjacent to Scripps Ranch. There is however aditional mello roos fees to take into consideration.

    February 14, 2013 at 12:43 PM #759384
    bearishgurl
    Participant

    [quote=recordsclerk] . . . Good luck, I wouldn’t hold out for price corrections, you’ll miss the next boat. By the way prices are going up in all of San Diego, not just desirable locations.[/quote]

    Absolutely spot on.

    SDowner, prices are going up all over the South Bay, East County and even the traditionally “lower cost” areas such a Lemon Grove, Spring Valley, Encanto, Lomita, Paradise Hills, City Heights, etc, etc.

    If I knew I was going to stay in SD County, needed a home for my family, was currently renting and had the wherewithal to purchase, I would be making offers on traditional sales with a 3-day window of acceptance/counter NOW.

    A SD County buyer in this situation doesn’t have time to waste playing games for weeks/months making offers on unapproved short sales.

    And don’t sweat the small stuff. Get your trusted home inspector on standby so they can perform quickly so you will know whether you want the property as is or need to counter the price early on.

    Good luck to you, SDowner!

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