[quote=flu]MM schools aren’t THAT bad, come on…And frankly CV schools are overrated. Only a small percentage of people *that* snooty when it comes to schools.
Highland Village i think is selling considerably above attached townhomes on the other side of CV (near Ralphs).
So yes, I think there is a premium that people are paying for new homes. Same could be said for Carriage Run, which I use to laugh at all the time. I’m not laughing anymore. People have paid around mid $800k for those too, and those are pretty much sold out.
This MM community I think has the convenience factor, so I think it will be a winner. It will bring up MM and the surrounding and schools.[/quote]
You and I can agree that MM schools aren’t “THAT” bad, but your average buyer doesn’t know that. Even long time San Diegan like UCGal was surprised. It will take many many years to change an image of an area (WRT to school quality). I know those who grew up here and are doing quite well think it’s subpar (even when they themselves are doing well in life while being part of the “subpar” schools). So, stigma is hard to shake off.
No, doubt that there is a premium for new vs old. I’m only questioning whether the premium is $200k or $25-50k. Maybe putting it in % might make my point a little more clear. I can see 10-20% premium for new, but $200k is equivalent to ~45% premium. I personally think 45% premium is way too high, that’s why I’m asking you guys to see what you guys think.
I don’t think this area will add enough home to make a difference to MM schools. This is not considering that some of those parents might send their kids to private school. I know that there are a few 92121 parents sending their kids to my kids’ school. So, those kids are not helping bringing up MM schools.
