Ozman,
Like I said I was in Serbal many, many times and it was not far nicer. The took less because their agents blew it out of the gate and they panicked. Plain and simple, the agents were hungry for market share and took every overpriced listing in LCV. They actually sold less than half of them and their reputation seems to have suffered a bit.
As for the cul de sac premium being misleading, you must live on Serbal. Hundreds of cars drive down Serbal every day while you can count traffic on Mirto on your digits. There is a big difference living on a cul de sac and across from one. We both know it. Sitio Olmo, Mirto, Abeto, the Northwest end of Serbal and Oliva are the prime locations in the LCV. Surely, you cant argue that.
In fact, another realtor last year bought a house on Abeto after living on Serbal across from the cul de sac paying a large premium to do so. Maybe it was you?
The point is while buyer sentiment is defintely up and homes are selling more briskly in the San Dieguito School District-prices are defintely not up from last year and can easily be shown to be down 5%. If you want to look in your home tract, look at the closed sales on Arrayan (both), Annanas, Robledo, Cereza, Coco, Pinon, Ciruela, Tulipero, Castana, Pimentera etc. While each of these homes would have struggled more to sell last year they would have sold for more.
BTW, I do agree that the Mirto house could have gotten a little more if they werent so overpriced out of the gate.
If you want take a look at the 12 homes that closed between 1/1/06 and 5/10/06 and let me know which one would sell for the same or more today? I can’t think of one.
