30% decline in new Carlsbad property

[aldante]

This house http://www.sdlookup.com/MLS-081020950-1262_Newland_Ct_Carlsbad_CA_92008

went up for sale last year and is new construction at $1,295,000. Seller are now “entertaining” offers at $895k. Does this mean that the coast has finally started to see some downturn? Or does it mean that it was overpriced to begin with? All observations welcome.

[svelte]

That house and it’s neighbors back up to Carlsbad Village Drive, at the corner of Highland.

Jim Klinge had a big writeup on these homes a few weeks back. I think the consensus was the numbers never did work and that the developer is going to be lucky to break even.

They have been up for rent at times, also.

[svelte]

That house and it’s neighbors back up to Carlsbad Village Drive, at the corner of Highland.

Jim Klinge had a big writeup on these homes a few weeks back. I think the consensus was the numbers never did work and that the developer is going to be lucky to break even.

They have been up for rent at times, also.

[svelte]

That house and it’s neighbors back up to Carlsbad Village Drive, at the corner of Highland.

Jim Klinge had a big writeup on these homes a few weeks back. I think the consensus was the numbers never did work and that the developer is going to be lucky to break even.

They have been up for rent at times, also.

[svelte]

That house and it’s neighbors back up to Carlsbad Village Drive, at the corner of Highland.

Jim Klinge had a big writeup on these homes a few weeks back. I think the consensus was the numbers never did work and that the developer is going to be lucky to break even.

They have been up for rent at times, also.

[svelte]

That house and it’s neighbors back up to Carlsbad Village Drive, at the corner of Highland.

Jim Klinge had a big writeup on these homes a few weeks back. I think the consensus was the numbers never did work and that the developer is going to be lucky to break even.

They have been up for rent at times, also.

[EJ]

I wouldn’t really call that a coast property.

I like the last picture that shows the brown lawns of the neighbors. Seems like there is some trouble in the ‘hood.

The house is nice though. Too big for my taste but I could see its appeal to a large family.

An unrelated question … what causes the brown stain around the perimeter of the building near the ground? I have seen this other places on both new and old homes.

cheers,
EJ

[EJ]

I wouldn’t really call that a coast property.

I like the last picture that shows the brown lawns of the neighbors. Seems like there is some trouble in the ‘hood.

The house is nice though. Too big for my taste but I could see its appeal to a large family.

An unrelated question … what causes the brown stain around the perimeter of the building near the ground? I have seen this other places on both new and old homes.

cheers,
EJ

[EJ]

I wouldn’t really call that a coast property.

I like the last picture that shows the brown lawns of the neighbors. Seems like there is some trouble in the ‘hood.

The house is nice though. Too big for my taste but I could see its appeal to a large family.

An unrelated question … what causes the brown stain around the perimeter of the building near the ground? I have seen this other places on both new and old homes.

cheers,
EJ

[EJ]

I wouldn’t really call that a coast property.

I like the last picture that shows the brown lawns of the neighbors. Seems like there is some trouble in the ‘hood.

The house is nice though. Too big for my taste but I could see its appeal to a large family.

An unrelated question … what causes the brown stain around the perimeter of the building near the ground? I have seen this other places on both new and old homes.

cheers,
EJ

[EJ]

I wouldn’t really call that a coast property.

I like the last picture that shows the brown lawns of the neighbors. Seems like there is some trouble in the ‘hood.

The house is nice though. Too big for my taste but I could see its appeal to a large family.

An unrelated question … what causes the brown stain around the perimeter of the building near the ground? I have seen this other places on both new and old homes.

cheers,
EJ

[Bugs]

I live not too far from this project and I was surprised the developer even put that type of house there. I was shocked when they broke ground on it because I knew they were already way too late.

Those homes have been sitting vacant for a long time. They started out at $1,500,000 (!!!). Talk about the 40% discount in Carlsbad. I’d be surprised if the $900k was a break even for them after the holding costs.

Somebody isn’t getting their Christmas bonus this year.

[Bugs]

I live not too far from this project and I was surprised the developer even put that type of house there. I was shocked when they broke ground on it because I knew they were already way too late.

Those homes have been sitting vacant for a long time. They started out at $1,500,000 (!!!). Talk about the 40% discount in Carlsbad. I’d be surprised if the $900k was a break even for them after the holding costs.

Somebody isn’t getting their Christmas bonus this year.

[Bugs]

I live not too far from this project and I was surprised the developer even put that type of house there. I was shocked when they broke ground on it because I knew they were already way too late.

Those homes have been sitting vacant for a long time. They started out at $1,500,000 (!!!). Talk about the 40% discount in Carlsbad. I’d be surprised if the $900k was a break even for them after the holding costs.

Somebody isn’t getting their Christmas bonus this year.

[Bugs]

I live not too far from this project and I was surprised the developer even put that type of house there. I was shocked when they broke ground on it because I knew they were already way too late.

Those homes have been sitting vacant for a long time. They started out at $1,500,000 (!!!). Talk about the 40% discount in Carlsbad. I’d be surprised if the $900k was a break even for them after the holding costs.

Somebody isn’t getting their Christmas bonus this year.

[Author]

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