[quote=bearishgurl][quote=sdrealtor]What are you talking about? You asked me to name tracts built in the last decade in top school districts and I answered your question. Then you twist off on some tangent. The properties in NCC built during that era havent held their values….they have soared in value. If that home in Lexington was built 2 years earlier (10 yrs ago) it would have sold for closer to 700K and would have doubled by now. …
Even homes in SEH built in 2001 and 2002 which is not a top school district, has big MR and has HOA fees but you get nothing but some common areas with signage on them have not lost value…[/quote]
You referred to $1M+ property in Carmel Valley. That isn’t in “Nirvana.” Unlike “Gridlocked Nirvana,” Carmel Valley is actually conveniently located.
SEH is also not in “Nirvana.” However, I will concede that its public schools scored as good or better than “Nirvana” in the 10/11 STAR and CAHSEE exams …[/quote]
Its not the buyers who are delusional, its the SELLERS!!! The values are determined by current market conditions which arent great. The sellers are deluding themselves that their house is worth more because it once was but it may not be again in their lifetimes.
Like I said, I could provide examples all day. Here is another from the heart of my gridlocked nirvana. 3040 Camino Serbal just closed for $1M in September. They paid 633k in 2001 (that the last decade). Not much put into it other than landscaping. Lets be generous and call it 50K so cost base of 688K. Thats a 45% appreciation on another higher end home. The elementary school is the top one in NCC. It has both MR and an HOA. How many more do you want to see?
