[quote=matt]LCV is a great community with relatively lower HOA fees and a great community center but older and generally smaller homes / lots vs LCO and similar.
Perhaps there are 1-2 pending that continue to hit this range but my sense remains that 3m in LCV in the current macro-economic environment is the peak of this cycle.
I am one of those that picked up a LCO property at 900 at the bottom. My current target is to downsize but would prefer to be in a smaller home west of the 5 than a few meters closer to Camino Real.[/quote]
FWIW lots are generally bigger in LCV than LCO which is amplified by putting bigger homes on the smaller lots. Our homes are worth what they are not because they are beautiful well built homes but rather because of the land. We are about 70% land value as a rule of thumb. Thus smaller house on bigger better located lot is as if not more valuable than bigger house on smaller not as well located lot. Morera in LCO doesnt sell for $3.05M. As the homes all age more this should bear out even more. If you struggling with this think about beach properties which are a more extreme example
The exceptions are the view lots in LCO which don’t exist in LCV so comparing those in LCO to any on LCV is apples and oranges
