The first wave of the Saratoga track resales are coming in and they look strong. Of the four homes listed between Heather Ridge and Foxborough Point only one is left. 10707 Heather Ridge sold in just two weeks for close to 1 million 50 thousand and two others are pending. Those with large lots and killer upgrades have no issue selling. It's the ones right on the road or with 4+ peering neighbors that are sitting.
I've been following the Saratoga saga and reading the strings…
The bulk of these home resales are from 3rd and 4th time homeowners. They are not exiting due to the "bridge" factor. The majority are moving to larger homes and pricier areas. They figure now is as good of time as any to get more bang for your buck.
One family is off to Rancho Santa Fe and another snatched up one of the prime Derby Hill lots.
Some of the hasty comments by members of our own real estate community baffle me. This is the time to promote growth not squash it even lower! There should be no tolerance for negative and ignorant commentary!
DONT FEED THE TROLLS. Someone is a little insecure about a purchase and subsequent loss-sales.
LOL. Someone bought in 2006, added a bunch of gaudy upgrades, sold recently 50k below purchase price. Anyone want to take a guess how much money was really loss on this one? I'd say 50k sale price loss + 30k loss in "upgrades" plus 2 years interest payments on 30year jumbo (about another 50k) and 2-3% sales commission on a $1million home (25k)
Yeah, I guess the person is "so rich", they don't mind throwing away $155k. LOL.
