[quote=Ren]Again, tastes are subjective. Besides, if that house were more valuable in the current market, it would have sold for a higher price. Yes, in 5 years a Bay Park house might adjust down a little more, or maybe not, but unless the floors are solid gold in El Cajon, the location can more than make up for the size difference, in my opinion. You would be happy in east county, in that house, and I would not be happy in either. And that’s what really matters.[/quote]
Exactly, Ren. Judging from your post (below) and the fact that you likely live in a *newer* development in “exurban” Temecula, IIRC, I posted the above because I was certain you did not understand what you would be getting for the $400K in (circa 1940’s) Bay Park for the same $$. I HAVE been in these homes which were almost exclusively purchased new by dust-bowl refugees packing up and moving their families to SD to work at local defense contractors during WWII. Most of them sold for about $5000 to $6500 brand new.
The reality is that these two types of SFR’s, albeit 23 miles apart (Bay Park and Lanai in Granite Hills) are nearly the same except for square footage, size of garages and size of lots. Of course, the Bay Park homes in this price range are too small to have a see-thru FP but they both were orig built in the same style and materials on the inside :=) The Granite Hills property, value wise, wins hands down.
[quote=Ren]I’d MUCH sooner pay $400k for virtually anything else – a townhome closer to the coast, a tiny house in Bay Park, a golf course pool house in Temecula, anything.[/quote]
The reality is that you, like most current owners and potential buyers, will purchase only *newer* construction. This comes as no surprise, considering where you currently reside and there is nothing wrong with this.
Ren, I would only be happy in the GH property if I had help with lot maintenance and air-conditioning bills. In my current station in life, I am happy where I’m at. My house is nearly the same size as the GH house, is in the proper location for my needs at this time and is situated on a much more manageable lot … for me.
