Hi there, my Piggington friend. There is no misery to the current pricing of The Summit. You can check the pricing at this website. Unfortunately, they only keep track the data for 12 months. So, I can’t tell whether it peak at 2004 or 2005.
The only data they have concerning 1232 sqft is this:
Address Bed/Bath Sq. Ft. Sale Price Close Date
17161 Alva Road #2212 3/2 1232 $369,000 4/10/2006
No doubt in my mind The Summit will continue to drop. How much? It’s everyone’s guess. But I recall, in sabre spring, we used to be able to get a 2300 sqft new single family home for $335000, at that time. Condo with 1200 sqrt in RB was about $200000 in 2000. So, my guess is, 2/2 condo in RB should return to low $200k price ($225k-$255k) depend on condition/interest rate/location and other factors. That’s just my assumption.
Given that it is a condo conversion. Those, I believe, will drop like rocks from the top of the palomar mountain to the abyss of the pacific ocean. Don’t be surpised those will drop back to $165k to $200k price range. Personally, I wouldn’t even consider buying condo conversion simply because the quality of the house itself — sucks.
In a few years, when the price is adjusted, you should check out Collage, Provenal in Carmel mountain ranch area. Those are good quality townhomes. Good luck.
