I don’t want to give out the price I paid, because all the broker/realtors on this site will immediately look it up in the MLS and get the stats, name of owners, etc.
Let’s just say we feel we got a decent deal, because prices were marked down from where they were initially, once they figured out the demand and correct price point. In addition, we have a great view! Plus, no one behind us and no one across the street.
I do know prices have continued to go down, even from when we bought. It’s just a sign of the times. We plan to be here for several years, so we aren’t worried if prices drop another 10% or even 20%.
joec, we thought similar things about the bottom of the hill area as you did, but I knew the plans were to clean it up. We asked, and heard that they were going to clean up and redo the Prospect/Graves intersection, which they just completed a couple months ago. The lots around that intersection are zoned general commercial, so, eventually the “look” of that interesection/area will change too, once they complete the 52.
We’re the type that are willing to wait, knowing that 10-20 years from now, these houses will all be in the high $900 or $1 million+ again for Eaglepointe homes once the buildout is complete.
Think back to when the 56, near Carmel Valley, wasn’t even built yet, and homes were going up around the area. They were around $600k then, brand new. Now, it’s tough to even find one for $600k. Carmel Valley is a different story because of location, yet I think once Sky Ranch sells out, the 52 is complete, and Santee finishes cleaning up the intersections around Prospect/Graves and Prospect/Magnolia, people will feel differently about the area.
Psychologically, people don’t like to wait for things to happen. They want it all right now. Do you realize that Bel Etage in RB used to be in the mid $800k, now you can’t touch them for less than $1 mill or more. It would be a lot higher if it wasn’t for the RE market crash.
Look at the original sales prices for these back in 2001/2002:
This is before 4S Ranch was built and the 56 was complete. People bought here, one, because it was nice, but two, because they new the area would be eventually developed, helping bring more people into the area, increasing the demand for those homes, thereby, increasing the prices.
Bel Etage was a lonely community that used to be out in nowhere and hard to get in and out of.
Ok, I agree this will be an extreme example, yet why I’m talking about this is because, it is a Case Study on how you need to think of the future and what’s to come.
IMO, it’s like making an investment in a company. There is risk in this, yet you take all things into consideration, and based on the future plan, think, I believe demand for this area will go up over time. In general, by increasing demand, prices should go up. Remember Apple, the company, at one time, no one wanted to touch that stock either, but, smart investors, seeing the future plan, took a chance, bought the stock, and today, well, you know the story!
Sky Ranch is the nicest, new community in East County! There is no other around, outside of the newer developments down in Santee main land area. It is on a mountain, which is very unique. The trees and foliage will have grown in around the streets up here in Sky Ranch. It will have great, freeway access, when the 52 is complete. It has very nice, convienent shopping and restaurants very close by. The City of Santee is working on updating the schools, city, and more. I only see things getting better, and I see the future of Santee 5 to 10 to 15 years from now. I’m not afraid to wait. It will come, and my house will have more demand for it than most other areas, especially for someone looking to live in East County.
