10707 Heather Ridge Dr

[Bugs]

“Baffle” you? By all means, do tell.

Let’s see it – give us your best rendition of why Now is a GREAT time to buy Real Estate!!!

[Coronita]

The first wave of the Saratoga track resales are coming in and they look strong. Of the four homes listed between Heather Ridge and Foxborough Point only one is left.
10707 Heather Ridge sold in just two weeks for close to 1 million 50 thousand and two others are pending. Those with large lots and killer upgrades have no issue selling. It's the ones right on the road or with 4+ peering neighbors that are sitting.

I've been following the Saratoga saga and reading the strings…

The bulk of these home resales are from 3rd and 4th time homeowners. They are not exiting due to the "bridge" factor. The majority are moving to larger homes and pricier areas. They figure now is as good of time as any to get more bang for your buck.

One family is off to Rancho Santa Fe and another snatched up one of the prime Derby Hill lots.

Some of the hasty comments by members of our own real estate community baffle me. This is the time to promote growth not squash it even lower! There should be no tolerance for negative and ignorant commentary!

 

DONT FEED THE TROLLS. Someone is a little insecure about a purchase and subsequent loss-sales.

 

http://www.sdlookup.com/Property-A8A88835-10707_Heather_Ridge_Dr_San_Diego_CA_92130

 

Sale History

5/22/2006 $1,092,171

5/16/2008 $1,045,000

LOL. Someone bought in 2006, added a bunch of gaudy upgrades, sold recently 50k below purchase price. Anyone want to take a guess how much money was really loss on this one? I'd say 50k sale price loss + 30k loss in "upgrades" plus 2 years interest payments on 30year jumbo (about another 50k) and 2-3% sales commission on a $1million home (25k)

Yeah, I guess the person is "so rich", they don't mind throwing away $155k. LOL.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

The first wave of the Saratoga track resales are coming in and they look strong. Of the four homes listed between Heather Ridge and Foxborough Point only one is left.
10707 Heather Ridge sold in just two weeks for close to 1 million 50 thousand and two others are pending. Those with large lots and killer upgrades have no issue selling. It's the ones right on the road or with 4+ peering neighbors that are sitting.

I've been following the Saratoga saga and reading the strings…

The bulk of these home resales are from 3rd and 4th time homeowners. They are not exiting due to the "bridge" factor. The majority are moving to larger homes and pricier areas. They figure now is as good of time as any to get more bang for your buck.

One family is off to Rancho Santa Fe and another snatched up one of the prime Derby Hill lots.

Some of the hasty comments by members of our own real estate community baffle me. This is the time to promote growth not squash it even lower! There should be no tolerance for negative and ignorant commentary!

 

DONT FEED THE TROLLS. Someone is a little insecure about a purchase and subsequent loss-sales.

 

http://www.sdlookup.com/Property-A8A88835-10707_Heather_Ridge_Dr_San_Diego_CA_92130

 

Sale History

5/22/2006 $1,092,171

5/16/2008 $1,045,000

LOL. Someone bought in 2006, added a bunch of gaudy upgrades, sold recently 50k below purchase price. Anyone want to take a guess how much money was really loss on this one? I'd say 50k sale price loss + 30k loss in "upgrades" plus 2 years interest payments on 30year jumbo (about another 50k) and 2-3% sales commission on a $1million home (25k)

Yeah, I guess the person is "so rich", they don't mind throwing away $155k. LOL.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

The first wave of the Saratoga track resales are coming in and they look strong. Of the four homes listed between Heather Ridge and Foxborough Point only one is left.
10707 Heather Ridge sold in just two weeks for close to 1 million 50 thousand and two others are pending. Those with large lots and killer upgrades have no issue selling. It's the ones right on the road or with 4+ peering neighbors that are sitting.

I've been following the Saratoga saga and reading the strings…

The bulk of these home resales are from 3rd and 4th time homeowners. They are not exiting due to the "bridge" factor. The majority are moving to larger homes and pricier areas. They figure now is as good of time as any to get more bang for your buck.

One family is off to Rancho Santa Fe and another snatched up one of the prime Derby Hill lots.

Some of the hasty comments by members of our own real estate community baffle me. This is the time to promote growth not squash it even lower! There should be no tolerance for negative and ignorant commentary!

 

DONT FEED THE TROLLS. Someone is a little insecure about a purchase and subsequent loss-sales.

 

http://www.sdlookup.com/Property-A8A88835-10707_Heather_Ridge_Dr_San_Diego_CA_92130

 

Sale History

5/22/2006 $1,092,171

5/16/2008 $1,045,000

LOL. Someone bought in 2006, added a bunch of gaudy upgrades, sold recently 50k below purchase price. Anyone want to take a guess how much money was really loss on this one? I'd say 50k sale price loss + 30k loss in "upgrades" plus 2 years interest payments on 30year jumbo (about another 50k) and 2-3% sales commission on a $1million home (25k)

Yeah, I guess the person is "so rich", they don't mind throwing away $155k. LOL.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

The first wave of the Saratoga track resales are coming in and they look strong. Of the four homes listed between Heather Ridge and Foxborough Point only one is left.
10707 Heather Ridge sold in just two weeks for close to 1 million 50 thousand and two others are pending. Those with large lots and killer upgrades have no issue selling. It's the ones right on the road or with 4+ peering neighbors that are sitting.

I've been following the Saratoga saga and reading the strings…

The bulk of these home resales are from 3rd and 4th time homeowners. They are not exiting due to the "bridge" factor. The majority are moving to larger homes and pricier areas. They figure now is as good of time as any to get more bang for your buck.

One family is off to Rancho Santa Fe and another snatched up one of the prime Derby Hill lots.

Some of the hasty comments by members of our own real estate community baffle me. This is the time to promote growth not squash it even lower! There should be no tolerance for negative and ignorant commentary!

 

DONT FEED THE TROLLS. Someone is a little insecure about a purchase and subsequent loss-sales.

 

http://www.sdlookup.com/Property-A8A88835-10707_Heather_Ridge_Dr_San_Diego_CA_92130

 

Sale History

5/22/2006 $1,092,171

5/16/2008 $1,045,000

LOL. Someone bought in 2006, added a bunch of gaudy upgrades, sold recently 50k below purchase price. Anyone want to take a guess how much money was really loss on this one? I'd say 50k sale price loss + 30k loss in "upgrades" plus 2 years interest payments on 30year jumbo (about another 50k) and 2-3% sales commission on a $1million home (25k)

Yeah, I guess the person is "so rich", they don't mind throwing away $155k. LOL.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

The first wave of the Saratoga track resales are coming in and they look strong. Of the four homes listed between Heather Ridge and Foxborough Point only one is left.
10707 Heather Ridge sold in just two weeks for close to 1 million 50 thousand and two others are pending. Those with large lots and killer upgrades have no issue selling. It's the ones right on the road or with 4+ peering neighbors that are sitting.

I've been following the Saratoga saga and reading the strings…

The bulk of these home resales are from 3rd and 4th time homeowners. They are not exiting due to the "bridge" factor. The majority are moving to larger homes and pricier areas. They figure now is as good of time as any to get more bang for your buck.

One family is off to Rancho Santa Fe and another snatched up one of the prime Derby Hill lots.

Some of the hasty comments by members of our own real estate community baffle me. This is the time to promote growth not squash it even lower! There should be no tolerance for negative and ignorant commentary!

 

DONT FEED THE TROLLS. Someone is a little insecure about a purchase and subsequent loss-sales.

 

http://www.sdlookup.com/Property-A8A88835-10707_Heather_Ridge_Dr_San_Diego_CA_92130

 

Sale History

5/22/2006 $1,092,171

5/16/2008 $1,045,000

LOL. Someone bought in 2006, added a bunch of gaudy upgrades, sold recently 50k below purchase price. Anyone want to take a guess how much money was really loss on this one? I'd say 50k sale price loss + 30k loss in "upgrades" plus 2 years interest payments on 30year jumbo (about another 50k) and 2-3% sales commission on a $1million home (25k)

Yeah, I guess the person is "so rich", they don't mind throwing away $155k. LOL.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[CVFanGirl]

Gaudy is understating it. I highly doubt these people are the ones moving to RSF.

There are actually 5 total Saratogas that are/were up for sale There’s a FSBO on the Heather Ridge cul de sac as well. That’s 5 of 66 Saratogas up for resale in just 2 years. Plus only one Bridle Ridge sold in 2 months according to another thread.

It’s a good thing divorce rates are down but that can’t last forever either in this economy.

[CVFanGirl]

Gaudy is understating it. I highly doubt these people are the ones moving to RSF.

There are actually 5 total Saratogas that are/were up for sale There’s a FSBO on the Heather Ridge cul de sac as well. That’s 5 of 66 Saratogas up for resale in just 2 years. Plus only one Bridle Ridge sold in 2 months according to another thread.

It’s a good thing divorce rates are down but that can’t last forever either in this economy.

[CVFanGirl]

Gaudy is understating it. I highly doubt these people are the ones moving to RSF.

There are actually 5 total Saratogas that are/were up for sale There’s a FSBO on the Heather Ridge cul de sac as well. That’s 5 of 66 Saratogas up for resale in just 2 years. Plus only one Bridle Ridge sold in 2 months according to another thread.

It’s a good thing divorce rates are down but that can’t last forever either in this economy.

[CVFanGirl]

Gaudy is understating it. I highly doubt these people are the ones moving to RSF.

There are actually 5 total Saratogas that are/were up for sale There’s a FSBO on the Heather Ridge cul de sac as well. That’s 5 of 66 Saratogas up for resale in just 2 years. Plus only one Bridle Ridge sold in 2 months according to another thread.

It’s a good thing divorce rates are down but that can’t last forever either in this economy.

[CVFanGirl]

Gaudy is understating it. I highly doubt these people are the ones moving to RSF.

There are actually 5 total Saratogas that are/were up for sale There’s a FSBO on the Heather Ridge cul de sac as well. That’s 5 of 66 Saratogas up for resale in just 2 years. Plus only one Bridle Ridge sold in 2 months according to another thread.

It’s a good thing divorce rates are down but that can’t last forever either in this economy.

[Coronita]

Gaudy is understating it. I highly doubt these people are the ones moving to RSF.

There are actually 5 total Saratogas that are/were up for sale There's a FSBO on the Heather Ridge cul de sac as well. That's 5 of 66 Saratogas up for resale in just 2 years. Plus only one Bridle Ridge sold in 2 months according to another thread.

It's a good thing divorce rates are down but that can't last forever either in this economy.

 

Yawn….Insomnia keeping me up.

I also forgot to add in cost of property tax paid each year. On a 1million home, that's approximately $10k/year. So for the above person's cost was closer to $170k .

Ok, as a fun exercise. Let's see the other candidates who recently sold or are recently selling because they "are moving to RSF".

 

1. 10744 HEATHER RIDGE DRIVE

http://www.sdlookup.com/Property-5CCE2831-10744_Heather_Ridge_Dr_San_Diego_CA_92130

Sale history

9/22/2005 1,012,00

3/13/2008 988,000

$25k loss + 2.5 years of interest payment (which at a 30year fixed would be conservatively around $60-$70k) + $25k in prop taxes + 2-3% RE fee ($25k) + whatever cost to add upgrades/landscaping (because none of the saratoga except model had landscape)…Hum, I guess this other "rich" family didn't mind shelling out $100k+ this much to keep a house for only 2.5 years.

2. 10687 Heather Ridge Dr

Purchase History:

2/15/2006: $901k

Current Asking Price $949-999k,56 days

Let's follow this one. This one doesn't look too upgraded, bare-bone landscaping (note, I bet the owner is chinese, judging by the outdoor and indoor pictures and the listing agent: will confirm when SD assessor's website is back up).

If sold at the low end $950k, the person will take a loss after RE commision property taxes, and any mortgage interests (I'll say landscaping/upgrade cost was $0, because it looks like crap). At $999k, the person would almost break even…I have hutch this house is going to sit on the market for a little bit. It doesn't have enough curb appeal right now. Imho, I don't think they'll get $950k, since a loaded model home went for about this price if I recall. But time will tell.

 

3) 5241 Brickfield Ln

LOL: this one will be fun to watch

http://www.sdlookup.com/Property-2E0233A5-5241_Brickfield_Ln_San_Diego_CA_92130

3/7/2006 1.124 million

Current List price $1,399,000 (Buuuutttt, it comes with $200k in upgrades with a pool!!!! Someone forgot to tell the person that the full cost of an "upgrade" doesn't always carry over to the next buyer). If an agent is able to pull off selling this home anywhere near this asking price, I want to know that agent so that I can find a buyer for my bridge.

 

4) 10704 HEATHER RIDGE DR is pending, so it will be interesting to see what that closes at. List price is 1,075,876. Purchase history is

8/8/2006 $909k. Lol.. another $175k in "upgrades"

5281 FOXBOROUGH PT, 5274 FOXBOROUGH PT are equally pending above $150k in "upgrades"

LOL. Good golly, I hope the prospect buyer doesn't actually stumbles across this posting on and backs out.

I can say this with pretty much confidence. Even if those properties go for that price, they will be on the markets very shortly. Whoever is buying there either (1) isn't in tune with the other comps and probably ain't that in turn with their personal finances to sustain this or (2) doing this irrationally to take care of some personal needs (like saving a marriage). I saw folks like this buy on my own street, overpaying $100k+ above what an average home sold for on my street, outbidding other buyers even when the markets were cooling In all 3 cases, they purchased irrationally to "save a marriage"….Except only 6-8 months later the problem was with the marriage, and adding a home to the problem resulted in more stress. Same pattern. They overpaid for a home by $100k. They spent another $50k+ in upgrades once moved in, i guess to appease the spouse. The remodelling/stress must have gotten the better of them, because eventually they all ended up in divorces anyway, and the homes were put back on the market 6-8 months later. Thereafter, it took another couple months before they sold $100k below their purchase price.

(Side note: I don't understand why some couples that already having marriage problem think buying a home is going to solve the problems from the relationship. If it all, it just adds to the stress of an already strained relationship. And on top of that, if things inevitability ends up in a divorce, that is one more headache to deal with. )

Patience grasshoppers, if it's not these set of sellers that end up flooring pricing now, it will be the next set sellers (current buyers) that overpaid and wake up with that big hangover.

 

Saratoga "holding value" my ass. More like a FB irrationale buyer/1-2 year bad hangover seller magnet.

 

[Coronita]

Gaudy is understating it. I highly doubt these people are the ones moving to RSF.

There are actually 5 total Saratogas that are/were up for sale There's a FSBO on the Heather Ridge cul de sac as well. That's 5 of 66 Saratogas up for resale in just 2 years. Plus only one Bridle Ridge sold in 2 months according to another thread.

It's a good thing divorce rates are down but that can't last forever either in this economy.

 

Yawn….Insomnia keeping me up.

I also forgot to add in cost of property tax paid each year. On a 1million home, that's approximately $10k/year. So for the above person's cost was closer to $170k .

Ok, as a fun exercise. Let's see the other candidates who recently sold or are recently selling because they "are moving to RSF".

 

1. 10744 HEATHER RIDGE DRIVE

http://www.sdlookup.com/Property-5CCE2831-10744_Heather_Ridge_Dr_San_Diego_CA_92130

Sale history

9/22/2005 1,012,00

3/13/2008 988,000

$25k loss + 2.5 years of interest payment (which at a 30year fixed would be conservatively around $60-$70k) + $25k in prop taxes + 2-3% RE fee ($25k) + whatever cost to add upgrades/landscaping (because none of the saratoga except model had landscape)…Hum, I guess this other "rich" family didn't mind shelling out $100k+ this much to keep a house for only 2.5 years.

2. 10687 Heather Ridge Dr

Purchase History:

2/15/2006: $901k

Current Asking Price $949-999k,56 days

Let's follow this one. This one doesn't look too upgraded, bare-bone landscaping (note, I bet the owner is chinese, judging by the outdoor and indoor pictures and the listing agent: will confirm when SD assessor's website is back up).

If sold at the low end $950k, the person will take a loss after RE commision property taxes, and any mortgage interests (I'll say landscaping/upgrade cost was $0, because it looks like crap). At $999k, the person would almost break even…I have hutch this house is going to sit on the market for a little bit. It doesn't have enough curb appeal right now. Imho, I don't think they'll get $950k, since a loaded model home went for about this price if I recall. But time will tell.

 

3) 5241 Brickfield Ln

LOL: this one will be fun to watch

http://www.sdlookup.com/Property-2E0233A5-5241_Brickfield_Ln_San_Diego_CA_92130

3/7/2006 1.124 million

Current List price $1,399,000 (Buuuutttt, it comes with $200k in upgrades with a pool!!!! Someone forgot to tell the person that the full cost of an "upgrade" doesn't always carry over to the next buyer). If an agent is able to pull off selling this home anywhere near this asking price, I want to know that agent so that I can find a buyer for my bridge.

 

4) 10704 HEATHER RIDGE DR is pending, so it will be interesting to see what that closes at. List price is 1,075,876. Purchase history is

8/8/2006 $909k. Lol.. another $175k in "upgrades"

5281 FOXBOROUGH PT, 5274 FOXBOROUGH PT are equally pending above $150k in "upgrades"

LOL. Good golly, I hope the prospect buyer doesn't actually stumbles across this posting on and backs out.

I can say this with pretty much confidence. Even if those properties go for that price, they will be on the markets very shortly. Whoever is buying there either (1) isn't in tune with the other comps and probably ain't that in turn with their personal finances to sustain this or (2) doing this irrationally to take care of some personal needs (like saving a marriage). I saw folks like this buy on my own street, overpaying $100k+ above what an average home sold for on my street, outbidding other buyers even when the markets were cooling In all 3 cases, they purchased irrationally to "save a marriage"….Except only 6-8 months later the problem was with the marriage, and adding a home to the problem resulted in more stress. Same pattern. They overpaid for a home by $100k. They spent another $50k+ in upgrades once moved in, i guess to appease the spouse. The remodelling/stress must have gotten the better of them, because eventually they all ended up in divorces anyway, and the homes were put back on the market 6-8 months later. Thereafter, it took another couple months before they sold $100k below their purchase price.

(Side note: I don't understand why some couples that already having marriage problem think buying a home is going to solve the problems from the relationship. If it all, it just adds to the stress of an already strained relationship. And on top of that, if things inevitability ends up in a divorce, that is one more headache to deal with. )

Patience grasshoppers, if it's not these set of sellers that end up flooring pricing now, it will be the next set sellers (current buyers) that overpaid and wake up with that big hangover.

 

Saratoga "holding value" my ass. More like a FB irrationale buyer/1-2 year bad hangover seller magnet.

 

[Coronita]

Gaudy is understating it. I highly doubt these people are the ones moving to RSF.

There are actually 5 total Saratogas that are/were up for sale There's a FSBO on the Heather Ridge cul de sac as well. That's 5 of 66 Saratogas up for resale in just 2 years. Plus only one Bridle Ridge sold in 2 months according to another thread.

It's a good thing divorce rates are down but that can't last forever either in this economy.

 

Yawn….Insomnia keeping me up.

I also forgot to add in cost of property tax paid each year. On a 1million home, that's approximately $10k/year. So for the above person's cost was closer to $170k .

Ok, as a fun exercise. Let's see the other candidates who recently sold or are recently selling because they "are moving to RSF".

 

1. 10744 HEATHER RIDGE DRIVE

http://www.sdlookup.com/Property-5CCE2831-10744_Heather_Ridge_Dr_San_Diego_CA_92130

Sale history

9/22/2005 1,012,00

3/13/2008 988,000

$25k loss + 2.5 years of interest payment (which at a 30year fixed would be conservatively around $60-$70k) + $25k in prop taxes + 2-3% RE fee ($25k) + whatever cost to add upgrades/landscaping (because none of the saratoga except model had landscape)…Hum, I guess this other "rich" family didn't mind shelling out $100k+ this much to keep a house for only 2.5 years.

2. 10687 Heather Ridge Dr

Purchase History:

2/15/2006: $901k

Current Asking Price $949-999k,56 days

Let's follow this one. This one doesn't look too upgraded, bare-bone landscaping (note, I bet the owner is chinese, judging by the outdoor and indoor pictures and the listing agent: will confirm when SD assessor's website is back up).

If sold at the low end $950k, the person will take a loss after RE commision property taxes, and any mortgage interests (I'll say landscaping/upgrade cost was $0, because it looks like crap). At $999k, the person would almost break even…I have hutch this house is going to sit on the market for a little bit. It doesn't have enough curb appeal right now. Imho, I don't think they'll get $950k, since a loaded model home went for about this price if I recall. But time will tell.

 

3) 5241 Brickfield Ln

LOL: this one will be fun to watch

http://www.sdlookup.com/Property-2E0233A5-5241_Brickfield_Ln_San_Diego_CA_92130

3/7/2006 1.124 million

Current List price $1,399,000 (Buuuutttt, it comes with $200k in upgrades with a pool!!!! Someone forgot to tell the person that the full cost of an "upgrade" doesn't always carry over to the next buyer). If an agent is able to pull off selling this home anywhere near this asking price, I want to know that agent so that I can find a buyer for my bridge.

 

4) 10704 HEATHER RIDGE DR is pending, so it will be interesting to see what that closes at. List price is 1,075,876. Purchase history is

8/8/2006 $909k. Lol.. another $175k in "upgrades"

5281 FOXBOROUGH PT, 5274 FOXBOROUGH PT are equally pending above $150k in "upgrades"

LOL. Good golly, I hope the prospect buyer doesn't actually stumbles across this posting on and backs out.

I can say this with pretty much confidence. Even if those properties go for that price, they will be on the markets very shortly. Whoever is buying there either (1) isn't in tune with the other comps and probably ain't that in turn with their personal finances to sustain this or (2) doing this irrationally to take care of some personal needs (like saving a marriage). I saw folks like this buy on my own street, overpaying $100k+ above what an average home sold for on my street, outbidding other buyers even when the markets were cooling In all 3 cases, they purchased irrationally to "save a marriage"….Except only 6-8 months later the problem was with the marriage, and adding a home to the problem resulted in more stress. Same pattern. They overpaid for a home by $100k. They spent another $50k+ in upgrades once moved in, i guess to appease the spouse. The remodelling/stress must have gotten the better of them, because eventually they all ended up in divorces anyway, and the homes were put back on the market 6-8 months later. Thereafter, it took another couple months before they sold $100k below their purchase price.

(Side note: I don't understand why some couples that already having marriage problem think buying a home is going to solve the problems from the relationship. If it all, it just adds to the stress of an already strained relationship. And on top of that, if things inevitability ends up in a divorce, that is one more headache to deal with. )

Patience grasshoppers, if it's not these set of sellers that end up flooring pricing now, it will be the next set sellers (current buyers) that overpaid and wake up with that big hangover.

 

Saratoga "holding value" my ass. More like a FB irrationale buyer/1-2 year bad hangover seller magnet.

 

[Coronita]

Gaudy is understating it. I highly doubt these people are the ones moving to RSF.

There are actually 5 total Saratogas that are/were up for sale There's a FSBO on the Heather Ridge cul de sac as well. That's 5 of 66 Saratogas up for resale in just 2 years. Plus only one Bridle Ridge sold in 2 months according to another thread.

It's a good thing divorce rates are down but that can't last forever either in this economy.

 

Yawn….Insomnia keeping me up.

I also forgot to add in cost of property tax paid each year. On a 1million home, that's approximately $10k/year. So for the above person's cost was closer to $170k .

Ok, as a fun exercise. Let's see the other candidates who recently sold or are recently selling because they "are moving to RSF".

 

1. 10744 HEATHER RIDGE DRIVE

http://www.sdlookup.com/Property-5CCE2831-10744_Heather_Ridge_Dr_San_Diego_CA_92130

Sale history

9/22/2005 1,012,00

3/13/2008 988,000

$25k loss + 2.5 years of interest payment (which at a 30year fixed would be conservatively around $60-$70k) + $25k in prop taxes + 2-3% RE fee ($25k) + whatever cost to add upgrades/landscaping (because none of the saratoga except model had landscape)…Hum, I guess this other "rich" family didn't mind shelling out $100k+ this much to keep a house for only 2.5 years.

2. 10687 Heather Ridge Dr

Purchase History:

2/15/2006: $901k

Current Asking Price $949-999k,56 days

Let's follow this one. This one doesn't look too upgraded, bare-bone landscaping (note, I bet the owner is chinese, judging by the outdoor and indoor pictures and the listing agent: will confirm when SD assessor's website is back up).

If sold at the low end $950k, the person will take a loss after RE commision property taxes, and any mortgage interests (I'll say landscaping/upgrade cost was $0, because it looks like crap). At $999k, the person would almost break even…I have hutch this house is going to sit on the market for a little bit. It doesn't have enough curb appeal right now. Imho, I don't think they'll get $950k, since a loaded model home went for about this price if I recall. But time will tell.

 

3) 5241 Brickfield Ln

LOL: this one will be fun to watch

http://www.sdlookup.com/Property-2E0233A5-5241_Brickfield_Ln_San_Diego_CA_92130

3/7/2006 1.124 million

Current List price $1,399,000 (Buuuutttt, it comes with $200k in upgrades with a pool!!!! Someone forgot to tell the person that the full cost of an "upgrade" doesn't always carry over to the next buyer). If an agent is able to pull off selling this home anywhere near this asking price, I want to know that agent so that I can find a buyer for my bridge.

 

4) 10704 HEATHER RIDGE DR is pending, so it will be interesting to see what that closes at. List price is 1,075,876. Purchase history is

8/8/2006 $909k. Lol.. another $175k in "upgrades"

5281 FOXBOROUGH PT, 5274 FOXBOROUGH PT are equally pending above $150k in "upgrades"

LOL. Good golly, I hope the prospect buyer doesn't actually stumbles across this posting on and backs out.

I can say this with pretty much confidence. Even if those properties go for that price, they will be on the markets very shortly. Whoever is buying there either (1) isn't in tune with the other comps and probably ain't that in turn with their personal finances to sustain this or (2) doing this irrationally to take care of some personal needs (like saving a marriage). I saw folks like this buy on my own street, overpaying $100k+ above what an average home sold for on my street, outbidding other buyers even when the markets were cooling In all 3 cases, they purchased irrationally to "save a marriage"….Except only 6-8 months later the problem was with the marriage, and adding a home to the problem resulted in more stress. Same pattern. They overpaid for a home by $100k. They spent another $50k+ in upgrades once moved in, i guess to appease the spouse. The remodelling/stress must have gotten the better of them, because eventually they all ended up in divorces anyway, and the homes were put back on the market 6-8 months later. Thereafter, it took another couple months before they sold $100k below their purchase price.

(Side note: I don't understand why some couples that already having marriage problem think buying a home is going to solve the problems from the relationship. If it all, it just adds to the stress of an already strained relationship. And on top of that, if things inevitability ends up in a divorce, that is one more headache to deal with. )

Patience grasshoppers, if it's not these set of sellers that end up flooring pricing now, it will be the next set sellers (current buyers) that overpaid and wake up with that big hangover.

 

Saratoga "holding value" my ass. More like a FB irrationale buyer/1-2 year bad hangover seller magnet.

 

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