Cyphire,
Just got back in town. I agree with your assessment of most buyers and am well aware that the 3 clinets I mentioned are far outside the norm. They were provided as examples of buyers that are still buying for good reasons. Admittedly, there are not many like them (relatively well off individals buying for lifecycle reasons).
Based upon the information you provided I’m pretty sure of where you just sold. You were spot on in all your decisions. When built they were $1M tract homes on 2 acres lots and were never worth $2M IMO (same goes for the other neighborhood with originally priced 800K tract homes on 1/2 acre lots across from La Costa Canyon that you probably know well also). I beleive that anyone spending anywhere close to $2M should be getting a custom home built to their specifications not a 5000 sq ft tract house. I have a few friends/clients that covet both of thsoe neighborhoods and are waiting for better deals. I think their nuts to even consider them and ecourage them to buy land and build their own cheaper and better. It’s amazing but you can get nicer houses in parts of RSF for the same amount that they are asking for those. I also think you did the right thing on your pricing as you did and selling in less than 60 days. Historically those homes have taken 12 to 24 months to sell and now is not the time to be riding out the market with down side risks far outweighing any upside potential.
