1655 archer road

[outtamojo]

Why does this home in San Elijo Hills seem much cheaper than the rest?
http://www.prudentialcal.com/Consumer/Listing/ListingSearchResults.aspx?Search=2d593d7c-9881-4079-922d-012e4020641c&SearchType=&ListingType=1&ListingDistrictTypeID=&FirstLetter=&Sort=1

[North County Jim]

ocrenter has gone through the partial history of this place here.

[outtamojo]

Thanx, I tried to Zillow it, but Zillow only shows the purchase by the foreclosure shark- I’m very curious as to what the prior owner paid. Anyway, good luck trying to sell it now that there are new mortgage guidelines for exotic loans.

[JES]

I mapped this and there is a neighborhood right there that directly backs up to huge power lines. Not sure if this is on that street, but based on the map plot it is there and exactly where I saw numerous new builder homes sitting idle years ago during the hot market solely because they all back up to the lines.

Also, the new community of Luminera by Richmond American is selling for the mid to high 600s, which means you can probably get in one that is unsold and being built for the high 500s right now. These homes are 2500-2700 sqft.

[go zags]

i visited luminara yesterday. pricing starts at 602K I think.
Also visited palisades, where four of a planned 40 some homes were sold.
The price drops that will need to happen for the houses on the hill will put some big downward pressure on those in recently established neighborhoods below IMO. It will be interesting to watch it play out, but from what I’ve observed in SEH, panic is not in the air…..yet?

[Mr_Brightside]

The prior sale was on 8/23/2002 for $418,478.

My blog:
http://sandiegomarketmonitor.blogspot.com/

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