I remember that sale and thinking they way overpaid at that point. However, one $ 70,000 loss and another possible sale still doesn’t make a trend.
Question: How do you determine what the transaction costs were/are on a sale? Don’t you need to see a closing statement? I have heard of some brokers in this area selling at reduced fees, which may put the net loss closer to zero, depending on how those costs are calculated.
Incidentally, there are two developments with Santa Barbara in the name in PHR/Carmel Valley: Vista Santa Barbara (non-gated) and Santa Barbara (gated). Same homes, same builders, two totally different neighborhoods.
Vista Santa Barbara in general has much smaller lots and not the quality of views that Santa Barbara has on its northern rim.
Lastly, the first sale was a job location and it sounds like the second one may be a special situation sale also. I will see what I can find out about that.
