Am I overbidding this Venzano (by San Elijo) home?

[LAAFTERHOURS]

[quote=Operation] Venzano has a lesser tax rate than the rest of SEH.[/quote]

Not technically true. The first phases of SEH have much lower MR rates. The HOA is higher in SEH (82 for non gated subdivisions and i think 130 for gated) but that HOA pays for all of the events. Some of the events require a tax bill/HOA bill to attend although venzano its included in a lot of the events in SEH but wanted to point that out. Also think about the schools down the hill bc they are already overcrowded and at some point (if not already) they will be turning away non SEH residents or give SEH residents priority.

[quote=Operation]Find the place you can see you and your family in long-term and let all of the other stuff outside of your control work itself out. It always does. [/quote] Totally agree. I like the Venzano homes, having looked a few before buying our home. I like the layouts and exteriors. I know that Venzano does a great job with the holiday decorations too so a very festive neighborhood.

[quote=Operation]
If you have any other questions about the community, I’m happy to answer them.[/quote] Same here for SEH. We went through an exhaustive search so I have a lot of info on MR by neighborhood and features if you need any input. There are deals to be had in SEH where some streets in the last 6 months have had 100K price difference in sales prices on the same model. The insides may have been drastically different (upgrades vs none) but it gives hope to finding the right home for your family.

[lpjohnso]

I am by no means an expert, but I have been following the San Elijo Hills market for the past 2 years in hopes to buy when the time is right. $500,000, even $525,000 for a 3200 sq ft in Venzano is a good deal. However, recent sales comps in Venzano around the same size could make someone like yourself a little worried; one sold for $505,000 3 months ago and another sold for $519,000 1 month ago. Take into account Realtytrac.com’s info and all signs point to holding out longer if you want the biggest bang for your buck.

Realtytrac currently shows 28 homes up for auction and an additional 7 in pre-forclosure up in the neighborhoods surrounding Venzano, and I count 12 more auctions and 8 more pre-forclosures in the neighborhoods at the bottom of San Elijo (this is not counting the condos, Old Creek Ranch, or Mahogany). However, I only saw 1 auction in Venzano (probably yours) and no pre-forclosures pending. That may say something about Venzano’s ability to maintain a higher price than the other neighborhoods. With that said, I still think that another 10% decrease in San Elijo Hills in the next couple years is not unreasonable. There is just way too much distressed inventory (seen and unseen) and not enough buyers.

However, I agree with the other person who commented that if you love the home, it is affordable to you, and you plan on living there for a long time then you should buy it. But, if you want to squeeze as much money out of it as you can, then I would advise you to wait at least another year while the plethora of distressed inventory sell and in turn brings the prices down even lower. I’m counting on jumping in early Spring 2012.

There are no easy answers, but I wish you the best of luck. Please keep us posted as to what you decided to do.

[lpjohnso]

I am by no means an expert, but I have been following the San Elijo Hills market for the past 2 years in hopes to buy when the time is right. $500,000, even $525,000 for a 3200 sq ft in Venzano is a good deal. However, recent sales comps in Venzano around the same size could make someone like yourself a little worried; one sold for $505,000 3 months ago and another sold for $519,000 1 month ago. Take into account Realtytrac.com’s info and all signs point to holding out longer if you want the biggest bang for your buck.

Realtytrac currently shows 28 homes up for auction and an additional 7 in pre-forclosure up in the neighborhoods surrounding Venzano, and I count 12 more auctions and 8 more pre-forclosures in the neighborhoods at the bottom of San Elijo (this is not counting the condos, Old Creek Ranch, or Mahogany). However, I only saw 1 auction in Venzano (probably yours) and no pre-forclosures pending. That may say something about Venzano’s ability to maintain a higher price than the other neighborhoods. With that said, I still think that another 10% decrease in San Elijo Hills in the next couple years is not unreasonable. There is just way too much distressed inventory (seen and unseen) and not enough buyers.

However, I agree with the other person who commented that if you love the home, it is affordable to you, and you plan on living there for a long time then you should buy it. But, if you want to squeeze as much money out of it as you can, then I would advise you to wait at least another year while the plethora of distressed inventory sell and in turn brings the prices down even lower. I’m counting on jumping in early Spring 2012.

There are no easy answers, but I wish you the best of luck. Please keep us posted as to what you decided to do.

[lpjohnso]

I am by no means an expert, but I have been following the San Elijo Hills market for the past 2 years in hopes to buy when the time is right. $500,000, even $525,000 for a 3200 sq ft in Venzano is a good deal. However, recent sales comps in Venzano around the same size could make someone like yourself a little worried; one sold for $505,000 3 months ago and another sold for $519,000 1 month ago. Take into account Realtytrac.com’s info and all signs point to holding out longer if you want the biggest bang for your buck.

Realtytrac currently shows 28 homes up for auction and an additional 7 in pre-forclosure up in the neighborhoods surrounding Venzano, and I count 12 more auctions and 8 more pre-forclosures in the neighborhoods at the bottom of San Elijo (this is not counting the condos, Old Creek Ranch, or Mahogany). However, I only saw 1 auction in Venzano (probably yours) and no pre-forclosures pending. That may say something about Venzano’s ability to maintain a higher price than the other neighborhoods. With that said, I still think that another 10% decrease in San Elijo Hills in the next couple years is not unreasonable. There is just way too much distressed inventory (seen and unseen) and not enough buyers.

However, I agree with the other person who commented that if you love the home, it is affordable to you, and you plan on living there for a long time then you should buy it. But, if you want to squeeze as much money out of it as you can, then I would advise you to wait at least another year while the plethora of distressed inventory sell and in turn brings the prices down even lower. I’m counting on jumping in early Spring 2012.

There are no easy answers, but I wish you the best of luck. Please keep us posted as to what you decided to do.

[lpjohnso]

I am by no means an expert, but I have been following the San Elijo Hills market for the past 2 years in hopes to buy when the time is right. $500,000, even $525,000 for a 3200 sq ft in Venzano is a good deal. However, recent sales comps in Venzano around the same size could make someone like yourself a little worried; one sold for $505,000 3 months ago and another sold for $519,000 1 month ago. Take into account Realtytrac.com’s info and all signs point to holding out longer if you want the biggest bang for your buck.

Realtytrac currently shows 28 homes up for auction and an additional 7 in pre-forclosure up in the neighborhoods surrounding Venzano, and I count 12 more auctions and 8 more pre-forclosures in the neighborhoods at the bottom of San Elijo (this is not counting the condos, Old Creek Ranch, or Mahogany). However, I only saw 1 auction in Venzano (probably yours) and no pre-forclosures pending. That may say something about Venzano’s ability to maintain a higher price than the other neighborhoods. With that said, I still think that another 10% decrease in San Elijo Hills in the next couple years is not unreasonable. There is just way too much distressed inventory (seen and unseen) and not enough buyers.

However, I agree with the other person who commented that if you love the home, it is affordable to you, and you plan on living there for a long time then you should buy it. But, if you want to squeeze as much money out of it as you can, then I would advise you to wait at least another year while the plethora of distressed inventory sell and in turn brings the prices down even lower. I’m counting on jumping in early Spring 2012.

There are no easy answers, but I wish you the best of luck. Please keep us posted as to what you decided to do.

[lpjohnso]

I am by no means an expert, but I have been following the San Elijo Hills market for the past 2 years in hopes to buy when the time is right. $500,000, even $525,000 for a 3200 sq ft in Venzano is a good deal. However, recent sales comps in Venzano around the same size could make someone like yourself a little worried; one sold for $505,000 3 months ago and another sold for $519,000 1 month ago. Take into account Realtytrac.com’s info and all signs point to holding out longer if you want the biggest bang for your buck.

Realtytrac currently shows 28 homes up for auction and an additional 7 in pre-forclosure up in the neighborhoods surrounding Venzano, and I count 12 more auctions and 8 more pre-forclosures in the neighborhoods at the bottom of San Elijo (this is not counting the condos, Old Creek Ranch, or Mahogany). However, I only saw 1 auction in Venzano (probably yours) and no pre-forclosures pending. That may say something about Venzano’s ability to maintain a higher price than the other neighborhoods. With that said, I still think that another 10% decrease in San Elijo Hills in the next couple years is not unreasonable. There is just way too much distressed inventory (seen and unseen) and not enough buyers.

However, I agree with the other person who commented that if you love the home, it is affordable to you, and you plan on living there for a long time then you should buy it. But, if you want to squeeze as much money out of it as you can, then I would advise you to wait at least another year while the plethora of distressed inventory sell and in turn brings the prices down even lower. I’m counting on jumping in early Spring 2012.

There are no easy answers, but I wish you the best of luck. Please keep us posted as to what you decided to do.

[jimminycrikut]

Yes, there were a home sold for 505,000 3 months ago, and another one sold for 519,000 1 month ago. However, these two homes (3000sqft) are slightly smaller than the one I am interested (3200 sqft). However, the comps in this neighborhood is not consistent. There are homes that sold in the high 500s in recent months. It is difficult to judge if this is going to be a good buy for my family. Also, my biggest concern is the powerline, which is about 1500ft from the house. How is it going to affect the resale value of this home in the future? Should this be a big concern for us? Is 1500ft consider far enough from the home?

[jimminycrikut]

Yes, there were a home sold for 505,000 3 months ago, and another one sold for 519,000 1 month ago. However, these two homes (3000sqft) are slightly smaller than the one I am interested (3200 sqft). However, the comps in this neighborhood is not consistent. There are homes that sold in the high 500s in recent months. It is difficult to judge if this is going to be a good buy for my family. Also, my biggest concern is the powerline, which is about 1500ft from the house. How is it going to affect the resale value of this home in the future? Should this be a big concern for us? Is 1500ft consider far enough from the home?

[jimminycrikut]

Yes, there were a home sold for 505,000 3 months ago, and another one sold for 519,000 1 month ago. However, these two homes (3000sqft) are slightly smaller than the one I am interested (3200 sqft). However, the comps in this neighborhood is not consistent. There are homes that sold in the high 500s in recent months. It is difficult to judge if this is going to be a good buy for my family. Also, my biggest concern is the powerline, which is about 1500ft from the house. How is it going to affect the resale value of this home in the future? Should this be a big concern for us? Is 1500ft consider far enough from the home?

[jimminycrikut]

Yes, there were a home sold for 505,000 3 months ago, and another one sold for 519,000 1 month ago. However, these two homes (3000sqft) are slightly smaller than the one I am interested (3200 sqft). However, the comps in this neighborhood is not consistent. There are homes that sold in the high 500s in recent months. It is difficult to judge if this is going to be a good buy for my family. Also, my biggest concern is the powerline, which is about 1500ft from the house. How is it going to affect the resale value of this home in the future? Should this be a big concern for us? Is 1500ft consider far enough from the home?

[jimminycrikut]

Yes, there were a home sold for 505,000 3 months ago, and another one sold for 519,000 1 month ago. However, these two homes (3000sqft) are slightly smaller than the one I am interested (3200 sqft). However, the comps in this neighborhood is not consistent. There are homes that sold in the high 500s in recent months. It is difficult to judge if this is going to be a good buy for my family. Also, my biggest concern is the powerline, which is about 1500ft from the house. How is it going to affect the resale value of this home in the future? Should this be a big concern for us? Is 1500ft consider far enough from the home?

[jimminycrikut]

Is it possible that my children will not be able to attend SEH schools in the future when the school is overcrowded? I mean this is still the closest school to our home.

[jimminycrikut]

Is it possible that my children will not be able to attend SEH schools in the future when the school is overcrowded? I mean this is still the closest school to our home.

[jimminycrikut]

Is it possible that my children will not be able to attend SEH schools in the future when the school is overcrowded? I mean this is still the closest school to our home.

[jimminycrikut]

Is it possible that my children will not be able to attend SEH schools in the future when the school is overcrowded? I mean this is still the closest school to our home.

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