The nice thing about terreza and altaire is the no MR pitch and it seems there are some nice views (for altaire models). With that comes higher prices of homes. I would bet that a majority of the people in CA with MR deduct it (illegally) since its not enforced so keep that in mind when you are selling yourself on the no MR. Even though you dont pay the MR, your ca real estate taxes will be higher.
I also live on the other side of SEH rd in a neighborhood off questhaven.
Some advantages of living on the other side of SEH off questhaven: Having a park within walking distance and access to the trails that take you to the schools. Great views of the ocean from most if not all streets. Disadvantages: Higher MR and long walk to the towncenter. The park I mentioned is nice but the playground equipment is for babies and they should have built out something for toddlers/ young children. There is a ton of space there, its too bad they havent changed it up.
Some advantages of living near town: lowest MR in SEH, walking access to the fields, parks, schools and shops. Disadvantages: oldest homes of SEH, many not updated. Views arent as good as up the hill unless you are in the gated off schoolhouse.
SEH peaked in 2005/2006 and most of the homes have already dropped 40% or more off peak. There are still some foreclosures in the area and people are still short selling. We have had a few on our street that have decided to rent out to families instead of shorting so it seems some are sticking with their investment for now. Prices of regular sales are up, short sales are barely above where we bought in 2009 but the regular sales are moving fast. We had one just set the bar for our neighborhood and it was on the market for just over 1 month. The inside of it wasnt anything to boast about but it had a nice view of the coast.
If I could buy again, I would have bought down near town. Its nice up the hill but I wish I was closer to the dog park and shops in town.
There are some good values that come to market in SEH in the older MR areas so if you have patience, keep an eye out. Good luck with your search.
One more note – I work in carmel valley. commute times are anywhere within the 30-60 minute range. Depends on the day and time. The 15 is 30 mins in the afternoon so at least there are a few options to get home.
