[quote=scarlett] . . . A Master BR of 12×11 for example is not acceptable. And we don’t want to pay HOAs (or MRs) of more than ~$100-200/mo. So we don’t exclude UC, but the chances of seeing something really worth buying there for 500K and good size – without spending extra 50K+ for remodelling are very slim. We keep our eyes open though. It’s just that inventory for what we want is slim.[/quote]
scarlett, my opinion is that you won’t find everything your heart desires in one package in your price range. You have severely limited yourself against very recent construction (2003 forward) because of your HOA/MR constraints. If the *rare* 1600 sf patio home listing brought up here by UCGal meets your needs and its HOA dues are <=$200 mo, that might be a viable property for you to consider. If its HOA has been maintained as nice as the pics indicate for nearly 40 years, then it is likely it has reserves and is stable.
As for the Stadium Way fixer, you should not assume that the owner (lender??) won’t take $450K or less for it, if not now, then eventually. The problem for you is that 30-40% of, say, a $425K purchase price equals a $127K to $170K downpayment under FNMA or FHLMC rules. Perhaps it would qualify for FHA with a piggyback loan under section 203K.
I know its not located in an underserved area but these are times where institutional owners need to be a little creative to unload certain properties. This property appears “livable” while you finish the rehab on it and will most certainly be worth far more after rehab is properly permitted and completed and its slope is cleaned up if there is no strong ambient road noise from the lot. This is the type of home from which you would never need to move from . . . you could retire in it and be happy.
Based on all your posts, I don’t think you will regret living in either of the above properties. Both are in great locations for your needs.
[quote=sdrealtor]Scarlett
Here is my advice and take it for what you paid for it. IMO, Casting such a wide net tends to be more of an impediment than a benefit. My best results typically come when someone has a laserlike focus. When we know what and more importantly where we are trying to be the results always seem to be better.
I’d spend my time getting more familiar with the areas you are interested. Take a good hard look and decide where you really want to live be it NC Inland (PQ/RB), central (MM/SR/Tierrasanta) or NCC (Carlsbad/Encinitas). Then get yourself the best help you can find to help you identify and capitalize on the perfect opportunity when it pops up.[/quote]
scarlett, this is very good (and free) advice and I’ll throw in some more free advice here. For NCC locations, think of your evening commute when you might have to pick up kids by a certain time. Remember that the 5 bottlenecks really bad during rush hour where the 805 joins it. And you’re already familiar with the I-15 corridor commute because you already lived there. If you seriously want a 20-30 minute commute (most likely a surface-street commute [or <2 mile jaunt on the 52] within this time frame), then concentrate on those areas that offer you this. The inventory existing in those areas is what you have to work with, nothing more. You must accept what is, commute at the mercy of the freeway or change your work locations. UC inventory, for the most part, is 35-50 years old. Upper Clairemont inventory is 35-55 years old.
I’m telling you these things only to help you. I’ve picked up kids from daycare/after-school care by 6:00 p.m. most of my life and am a 35-year resident of this county. so I understand all your concerns. I’ve only been reading this board regularly for about 8 mos, but in that time frame, you have been all over the map in considering the purchase of a primary residence for your young family. There are many tradeoffs in this life and with young kids, your time is certainly worth more than any other consideration.
Another suggestion: Why don’t you take an in-person look at the 1400 sf Ramsay Ave property brought up by AN and located in the Curie/Standley/UC (guaranteed) attendance area.
Due to the RV pkg clearance to the left of the garage, it would appear that there is room to expand it. Many homeowners in Chula Vista have expanded these types of garages to a 2-car by bringing the side out or moving the entire garage to the backyard and using the roof line for a drive thru carport. Done professionally, this modification looks very good and costs only $25K to $45K. The (corner) lot appears substantial on this property, with room for a detached 2-car garage and/or a rear room addition.
Really give these points some consideration, scarlett, and try to think out of the box a little. How else do you think you will you get an equivalent school attendance area so close to work with the resources you have??
