I will add my 2 cents here, since I live in CV and am not will not pass judgement on people that want to buy. Whether you think it's a right time to buy or not depends on your particular situation. I will offer you my opinion on those two homes above relative to CV.
If I was going to spend 1.3+ million on a home in CV, I would PASS on those above.
The first one: MLS 071070568 on steeple chase row. The issues that I have with this home are:
1)It's built in 1986, which for CV standards is ANCIENT.
2)$426/sqft is ridiculously high for something that's 3000 sqft range imho.
3)The HOA (if not an error) is ridiculous for SFH.
4)This is a 3 bedroom house.
5) I guess you can pay for living closer to Fairbanchs ranch and RSF :), which the purpose was to appeal to my snobbish side (if I had one), would still not be at the same snobbish level as residence actually in FBR or RSF. So for me, this "premium" for location would be a moot point.
The second one: MLS 071085458,
same thing, except
5) It only has 3 bedrooms, + 1 extra room.
In addition here would be my concerns…I would say most CV folks want to raise a family (with kids). From a practical point of view, these homes imho are not in the optimal configuration with a family. Second, they're old for CV standards. Third, why would one want to pay for HOA at this price, just for the "privilege of being close but not in RSF"? Fourth issue: sqft wise, it's pretty small.
I'm trying to put a finger on what the ideal buyer of this property would be like. I can think of only two situations
1) If you're a a younger couple dinc with no plans for kids. But if that were the case, you would probably be disappointed with the 80ies style decor in those homes, and need to spend a bundle of remodelling.
2) You're an older couple in retirement with no kids living with you, it would probably be ok. But why would you want to retire in CV, imho?
But I would say the appeal for these homes in the majority of CV shoppers probably wouldn't fit into either of these categories and would pass on this for the said reasons I mentioned above.
For me, with a small family. If I had $1.3-$1.4 to blow, I would probably buy something like MLS: 076081642
4125 VIA CANGREJO in Sea Country community in Torrey Hills.
4000 sqft, 5 bed/4.5 bath $1.4-$1.5mil with superior amenties inside, $25/month HOA
Or slightly a step down in Belmont
MLS 076075642 5 bed/4 bath $1.2mill
But that's just me, putting on my family with 1 kid hat on.
the rationale would be
1 room for me and wife
1 room for an office
1 room for each kid (currently only 1)
1 guest room
1 extra room for live in helper (if any)
If you are interested in 1 story homes, there is one complex I can think of in Torrey Hills with a few 1 story homes…(Can't think of the name, but it's the complex right behind the new Vons, next to the apartments )…Though sqft, you're probably looking around 2400+-200sqft. I don't think there are any of them currently on the market.
