[quote=brightyan]For your average question, you seem to have 4K somehow fixed on your mind. If it is lower than that, it is because it is lower-tiered or it has issues. If I tell you 5K, you are happy to accept. If you want 5K/month, pay me 6K and I can find you a place renting for 5K.
Craigslist is the average in the market, or sometimes over-priced because some landlords are in fantasy land.
You do not really understand my comment about landlording, as I am trying to say landlording in Carmel Valley is a bad choice as investment, since other places have much better return. But I tend to think this point will be very hard for you to understand, after I realize you fix your mind on 4K average in Carmel Valley.[/quote]
I don’t have anything fixed on my mind frankly. But craiglist’s listings (1) are few (2) doesn’t necessarily represent all the locations in CarmelV. I’ve posted on craiglist before for rental, and rented it that way myself, and the only thing I learned about craiglist are
1) The ones that are correctly priced are gone pretty quickly
2) The ones that remain on craiglist, either are (1) screwed up (and hence below market priced… otherwise they would have been snatched up) or (2) remain on the market because they are grossly inflated.
I have not been monitoring CL over a duration of time to plot all the homes that come on the rental market and follow up to see when they get snatched up and priced around in CV..
The only real data is one data point… I have is my friend who managed to rent out his 2800 sqft place in nicer area that has access to Sage Canyon elementary. His tenant signed a 4 year lease for $4300..Partly because the couple did a shorsale on their 2.5million place, but for whatever motivation wanted to remain in CarmelV (to keep up with the jones I guess)…Whatever, not my concern or me to judge… But that was 2 years ago, and hadn’t heard anything similar close to that 2 years ago…So I dismissed it as an outlier… That’s why when I was just checking stuff out on craiglist by chance lately, and saw a few (what I thought) was ridiculously high price, I wanted to ask people who actually either rented recently or has rental property that rented…People that are actually have real data instead of the usual theoretical numbers that a lot of LETDLITA (Leading experts that don’t live in the area) who like to theorize on what is or isn’t reality.
So again, if you have rental property or are tenant in the specific area, it would be great sharing your actual data would be appreciated.
Otherwise, thank you for your opinions and thank you for your advice. But I really don’t need a lecture about landlording in CV is bad/good/etc. Specifically, since I have my reasons for asking. With all due respect, I think I can do basic math (sometimes) and figure out buying a $1million/2800 sqft house in CarmelV today is probably not the best use of capital to get a meaningful ROI.
