cvhoverer,

Um.. $812k for a 3bedroom/2.5 bath 1800sqft home even in Carmel Valley IS A RIP OFF imho. Plus it’s a 1989 home, which imho is kinda old for CV. Granted, it has a 6000sqft lot, BUT unless you’re not willing to trade off lot size for bedrooms, something in the 1700-1900sqft is selling around the low to mid $700k in Carmel Valley.

Here’s some links that you might find interesting. I’m not going to comment on the quality of the developments, because opinion varies. BUT, you need to look around.

Trilogy: 1818/3/2.5 $720k (small lots though tight)
http://sandiego.houserebate.com/search/homeview.asp?id=1602570&p3=-1&ix=10

Sands: 2177/3/2.5 $779k. Not bad, but not very upgraded.
Sands: 2135/4/2.5 $795-$825.
San Rafael: http://sandiego.houserebate.com/search/homeview.asp?id=1653081&p3=-1&ix=12
1952/3/2.5 $729k.
Has expensive HOA, but is a gated SFH community.

Sausalito:
http://sandiego.houserebate.com/search/homeview.asp?id=1638350&p3=-1&ix=13
1936/3/2.5 $729k
Personally, I’m not a fan of this complex, but its right across the street from Torrey Hills Elementary

And the listings go on and on.

Personally, I would wait.Put things in perspective for you. I purchased in 2004 when prices were high. But even so, we paid $850k for 2600sqft 5bedroom/3bath place in the older carmel valley (not the developments off of 56). If you bought this home, you’re a lot more for something a lot smaller, plus you’re also going to pay about 1% more on your mortgage than I am.

I’m expecting my home to fall to at least around $750k. There’s absolutely no reason why something 1800sqft on a 6000sqft lot should be this expensive imho.