I am in agreement with what FLU posted. I have a hard time justifying over half a million for what amounts to a townhouse. The majority of people who are young (dual earner) families in Carmel Valley do like it alot. The schools and proximity to the areas of where they work seem to fit very well into the lifestyle they have. Accordingly many of these families do not have a need for a large yard so they are very satisfied with what they have. The priorities they have include wanting a newer home so they do not have to deal with repairs and/or upgrades, proximity for communiting and school district.
As for San Dieguito not being a great school district I do not really agree with that statement.
As for will you get 10% appreciation on your home in 10 years… well that is tricky as well. I think that there are larger issues that will affect home prices which will impact everyone. The primary concern is that the bond market will tank between now and then and we will all be living in a high interest environment. This will be macroscopic in nature and in a large event like that it is hard to tell how Carmel Valley townhomes will hold up verses like properties in the county.
I do agree with you regarding the resiliency of Carmel Valley in general. Yes it is highly desired and as long as there are engineering jobs in the triangle and surrounding area, Carmel Valley will do okay. Make no mistake there was depreciation in Carmel Valley in the recent cycle however it fared very well against other parts of the county. I think buying where you like, what fits your lifestyle and what is best for your family is important.
Again I am a bit more concerned with the big picture of the financing for our country rather then CV holding up. I think CV will always do well like you implied. As for townhomes that concerns me a bit more then detached.
