Right now, the best value in tract homes seem to be in foreclosures of near new construction because:
1) bank is taking a bath and needs to unload quickly.
2) house is new with no maitenance issues (termites, etc..)
3) house was most likely upgraded with landspace, granite, wood floors, etc…
4) newers houses are better built with better technology (double pane windows, better insulation, etc..)
5) higher ceilings, better applicances, a/c, etc..
If I had to buy, I would buy a foreclosure previously owned by an FB who HELOCed to fully upgrade his house.
As of right now, the older neighborhoods have not been hit as hard so I would say that you’re better off buying a foreclosoure in Pacific Highlands than a resale in Carmel Valley. Better house for lower PPSF. Value of location is debatable.
