[quote=SkyRanchOwner]
Don’t be so stuck on CV, RB, LJ, Carlsbad, etc. Yes, they are nice areas with great locations, but don’t be suprised if you still see another 10-20% drop in average prices once the shadow inventory hits those areas. Sky Ranch is very new, so there is less chance of that here. These homes were built in 2008, after the boom/crazy times. Not that we couldn’t see another 10% drop, it’s just that there is less of a chance of that out here, in my opinion, because a majority of the correction has already taken place.
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Trust me, we’re not stuck on these locations (at least I’m not). It’s just logical if you look over the entire landscape of RE in San Diego..I think the disconnect here is your opinion is that Santee is Tier 1 RE in San Diego, comparable to those other mentioned areas.. It’s not tier 1.Heck, I don’t think neither 4S or Carmel Valley is tier 1 to begin with…LJ and DelMar probably are pretty close to tier 1….
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PS – If it was so bad, then why do the homes continue to sell for all three level homes, NorthStar, Crestview, and Eaglepointe?
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Define “selling well” when it comes to these $800k homes? .And if they are selling well, aren’t you contradicting yourself, by pointing out that this is a screaming deal at $790k because the price is now lower…Why are prices lower now if they are selling well?
Again, I think if you like Santee because it’s Santee, then all more power to you. It’s just it sounds a lot like trying to convince oneself/everyone else Santee is on par with LJ/CV/4S. Like a buyer of an Audi who spent less out the door and then added aftermarket mods and thinks it’s a BMW M3. Sorry, not in the same league.
My own personal rule of thumb when it comes to home upgrades is: only do those upgrades whose total cost still keeps your home in the same league. The moment your upgrade costs + home costs start exceeding the next best league of homes, it’s either time to sell your home and buy the other one OR suck up the cost of your upgrades, knowing you won’t be able to recoup it at resale time.
