[quote=bearishgurl]Ren, did your friends who purchased in Bay Park purchase in “the flats?” And did they pay +/-$400K??[/quote]
One in the flats, one not. They both overpaid, but then I believe everyone is still overpaying for coastal properties.
[quote]You state here that Bay Park is “on your list” but not for your “forever house.” What type of property would you actually purchase in Bay Park, then? And why wouldn’t you purchase a larger “old” house there?[/quote]
A 2-bedroom, 1100-1300 square feet. Not at today’s prices, but maybe 10-15% lower. I wouldn’t purchase a larger house there because it would be too expensive and unnecessary. Our kids will be sharing a room for many years. The forever house will require 4 bedrooms, a casita, and a 10k+ lot.
[quote]Would a Bay Park purchase be an investment rental property for you?[/quote]
Eventually. It would be a temporary home for 5-10 years, then a rental. It isn’t likely to happen, though – you get much more for your money in Carlsbad, which is where I work anyway.
[quote]23 miles is NOT 3000 miles. We are discussing properties in the same locale which are both viewless (actually “GH” has a rear view of horse corrals) and both have similar weather and humidity levels. Your “comparison property” is WAY off the mark.[/quote]
You’re missing the point, which is that there is always a nicer house somewhere, but if I don’t want to live there, then there’s no comparison, and no value to that property for me. In other words, the east county house may as well be in Georgia, because I refuse to live in that location. The fact that it’s a giant turd doesn’t make it any more enticing.
