I totally agree with you OCR. We looked at some houses in Del Sur a few years ago but we just didn’t like the community as much. For the very high Mello Roos and HOA you don’t nearly what you get at other areas like Santaluz. I just couldn’t understand it other than people seem to be stretching to buy as it is and mostly priced out of some areas and they would rather have more bedrooms.
I saw that house in Santaluz that you listed a few years ago. They have been trying to sell it for a while. You will notice while other houses all around it are selling fairly quickly after going on the market, it’s just sitting there. Like look at this one:
It went into escrow for what I’ve been told is ABOVE their asking price in just 4 days after listing it.
The one you listed is very nice and they did some nice upgrades in it. The biggest problem is that ultimately it’s only really 3 bedrooms. They say they converted the bedroom into an office but it’s positioned as such that it wouldn’t really be practical for a bedroom. Plus the “bedroom” that they made in their garage for their nanny is really poorly done, IMHO.
That’s why everything else is selling fairly quickly but I’m not sure they will have such an easy time. But the house is very nice other than the lack of bedrooms for that price.
But no doubt I wouldn’t be crazy in owning in Del Sur and paying those kinds of monthly fees. The look and feel of that community is much different for those kinds of fees vs. places like Santaluz, IMHO.[/quote]
Agree, with such low inventory, if it isn’t the price, then something else is up with the property for it to sit in this market.
Del sur truly does have some very worrisome combo. The smaller condos/attached homes are priced at a price point that draw in dual income earners that likely have a tight budget, but they are then hit with high priced MR/HOA. I do agree with BG this is the perfect scenario for creation of the chronic paycheck to paycheck barely above water struggle that would lead to mass default if the economy experience another crash.
