When I see a reference to a “delusional” seller, I think it to mean they have listed their property at a price that is much higher than they could reasonably expect to get for it in the current market. Such is not the case. The current market can almost support the low end of their range.
Now, the current market may be a continuation of “housing bubble madness” and the ad may have some overly positive sentiment due to the fact that they are trying to sell it, but the sellers are not “delusional” though they may be disappointed that they’ll have to get a realtor.
The appeal of the lot is not the useable size, but the fact that there are no neighbors to the back and a wide open feeling of space. It’s a completely different market than the standard Clairemont house and I’m closely in touch with it as I have been helping friends look for such a place all last year.
It seems the cost of a house on a canyon lot over and above a similar house on a non-canyon lot has been increasing in the past year. It used to be about a $50K premium and seems to be more like $75K now. So, the canyon homes in Clairemont are acting a bit like the higher-end markets – sticky.
Call it a “Canyon lot bubble” that has yet to burst.
