Any price drops in Scripps ranch and carmel valley?

[newbiz]

sdr, bugs

I am seeing all kinds of price drops in areas like escondido, temecula, Chula vista etc.
But my interes lies in DelMar, Carmel Valley, Scripps Ranch

I freequently check ziprealty with a criteria of over 3000sft in these areas individually. Though I have see some drops in Scripps ranch there are not significant. I am not seeing any drop in Carmel valley.

Am I missing any thing?

In scripps, I live on winding ridge dr and I do not see much activity and pretty much no drop

The house I am renting sold for 650 in 2003, The house next doors sold for 1150k about 9 months back. I am looking forward to this home priced at 650 some time in next 2 or 3 years, do you guys think that is a possibility?

What are you guys seeing in the above mentioned areas for homes over 3000sft

[sdrealtor]

I have defintely seen price declines in CV just not huge declines that are so easy to notice as in the areas you mention. Alot of people took their homes off the market in CV when they couldnt get what they wanted and they can afford to do so. This is a major dynamic going on there that keeps inventory relatively low there.

[sdrealtor]

I have defintely seen price declines in CV just not huge declines that are so easy to notice as in the areas you mention. Alot of people took their homes off the market in CV when they couldnt get what they wanted and they can afford to do so. This is a major dynamic going on there that keeps inventory relatively low there.

[sdrealtor]

I have defintely seen price declines in CV just not huge declines that are so easy to notice as in the areas you mention. Alot of people took their homes off the market in CV when they couldnt get what they wanted and they can afford to do so. This is a major dynamic going on there that keeps inventory relatively low there.

[sdrealtor]

I have defintely seen price declines in CV just not huge declines that are so easy to notice as in the areas you mention. Alot of people took their homes off the market in CV when they couldnt get what they wanted and they can afford to do so. This is a major dynamic going on there that keeps inventory relatively low there.

[sdrealtor]

I have defintely seen price declines in CV just not huge declines that are so easy to notice as in the areas you mention. Alot of people took their homes off the market in CV when they couldnt get what they wanted and they can afford to do so. This is a major dynamic going on there that keeps inventory relatively low there.

[Coronita]

So someone on in my neighborhood just put a house on the market while I was out on vacation, and it seemed to have gone into escrow pretty quickly…like within a week…….BUT…. I think it's because it was priced right. For reference, the house was priced back at early 2004 levels. I don't think the house was for sale before I left, and I know it's in escrow now. The asking price was well below $1mil for approximately 2600+sqft.. …..and close to other's purchase price around early 2004. I won't venture what that means or which this home, but those with MLS can probably figure out which one.

The seller probably could have gotten slightly more if they uped the asking price, at the risk of waiting months…but it seemed like they wanted to sell pretty quickly… According to tax records, it seems like the seller was the original owner, so provided he/she/they didn't refinance to buy crap (which judging their modest appearance– they didn't), it seems like they still pocketed quite a bit from this transaction.

So,yes, it seems prices have fallen. Though this is just 1 transaction, it seems like pricing something at the early 2004 in a decent location in CV can generate some decent interest. When we'll start seeing 2003 prices, well that should happen soon.

Ironically someone else on the street that's been selling (and the poor knife catcher that bought) went into escrow with an almost identical unit (with nice upgrades) for about $150k more. Don't know final closing price yet, but this one took 3+ months to find a knife catcher.

 

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

—– Sour grapes for everyone!

[Coronita]

So someone on in my neighborhood just put a house on the market while I was out on vacation, and it seemed to have gone into escrow pretty quickly…like within a week…….BUT…. I think it's because it was priced right. For reference, the house was priced back at early 2004 levels. I don't think the house was for sale before I left, and I know it's in escrow now. The asking price was well below $1mil for approximately 2600+sqft.. …..and close to other's purchase price around early 2004. I won't venture what that means or which this home, but those with MLS can probably figure out which one.

The seller probably could have gotten slightly more if they uped the asking price, at the risk of waiting months…but it seemed like they wanted to sell pretty quickly… According to tax records, it seems like the seller was the original owner, so provided he/she/they didn't refinance to buy crap (which judging their modest appearance– they didn't), it seems like they still pocketed quite a bit from this transaction.

So,yes, it seems prices have fallen. Though this is just 1 transaction, it seems like pricing something at the early 2004 in a decent location in CV can generate some decent interest. When we'll start seeing 2003 prices, well that should happen soon.

Ironically someone else on the street that's been selling (and the poor knife catcher that bought) went into escrow with an almost identical unit (with nice upgrades) for about $150k more. Don't know final closing price yet, but this one took 3+ months to find a knife catcher.

 

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

—– Sour grapes for everyone!

[Coronita]

So someone on in my neighborhood just put a house on the market while I was out on vacation, and it seemed to have gone into escrow pretty quickly…like within a week…….BUT…. I think it's because it was priced right. For reference, the house was priced back at early 2004 levels. I don't think the house was for sale before I left, and I know it's in escrow now. The asking price was well below $1mil for approximately 2600+sqft.. …..and close to other's purchase price around early 2004. I won't venture what that means or which this home, but those with MLS can probably figure out which one.

The seller probably could have gotten slightly more if they uped the asking price, at the risk of waiting months…but it seemed like they wanted to sell pretty quickly… According to tax records, it seems like the seller was the original owner, so provided he/she/they didn't refinance to buy crap (which judging their modest appearance– they didn't), it seems like they still pocketed quite a bit from this transaction.

So,yes, it seems prices have fallen. Though this is just 1 transaction, it seems like pricing something at the early 2004 in a decent location in CV can generate some decent interest. When we'll start seeing 2003 prices, well that should happen soon.

Ironically someone else on the street that's been selling (and the poor knife catcher that bought) went into escrow with an almost identical unit (with nice upgrades) for about $150k more. Don't know final closing price yet, but this one took 3+ months to find a knife catcher.

 

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

—– Sour grapes for everyone!

[Coronita]

So someone on in my neighborhood just put a house on the market while I was out on vacation, and it seemed to have gone into escrow pretty quickly…like within a week…….BUT…. I think it's because it was priced right. For reference, the house was priced back at early 2004 levels. I don't think the house was for sale before I left, and I know it's in escrow now. The asking price was well below $1mil for approximately 2600+sqft.. …..and close to other's purchase price around early 2004. I won't venture what that means or which this home, but those with MLS can probably figure out which one.

The seller probably could have gotten slightly more if they uped the asking price, at the risk of waiting months…but it seemed like they wanted to sell pretty quickly… According to tax records, it seems like the seller was the original owner, so provided he/she/they didn't refinance to buy crap (which judging their modest appearance– they didn't), it seems like they still pocketed quite a bit from this transaction.

So,yes, it seems prices have fallen. Though this is just 1 transaction, it seems like pricing something at the early 2004 in a decent location in CV can generate some decent interest. When we'll start seeing 2003 prices, well that should happen soon.

Ironically someone else on the street that's been selling (and the poor knife catcher that bought) went into escrow with an almost identical unit (with nice upgrades) for about $150k more. Don't know final closing price yet, but this one took 3+ months to find a knife catcher.

 

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

—– Sour grapes for everyone!

[Coronita]

So someone on in my neighborhood just put a house on the market while I was out on vacation, and it seemed to have gone into escrow pretty quickly…like within a week…….BUT…. I think it's because it was priced right. For reference, the house was priced back at early 2004 levels. I don't think the house was for sale before I left, and I know it's in escrow now. The asking price was well below $1mil for approximately 2600+sqft.. …..and close to other's purchase price around early 2004. I won't venture what that means or which this home, but those with MLS can probably figure out which one.

The seller probably could have gotten slightly more if they uped the asking price, at the risk of waiting months…but it seemed like they wanted to sell pretty quickly… According to tax records, it seems like the seller was the original owner, so provided he/she/they didn't refinance to buy crap (which judging their modest appearance– they didn't), it seems like they still pocketed quite a bit from this transaction.

So,yes, it seems prices have fallen. Though this is just 1 transaction, it seems like pricing something at the early 2004 in a decent location in CV can generate some decent interest. When we'll start seeing 2003 prices, well that should happen soon.

Ironically someone else on the street that's been selling (and the poor knife catcher that bought) went into escrow with an almost identical unit (with nice upgrades) for about $150k more. Don't know final closing price yet, but this one took 3+ months to find a knife catcher.

 

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

—– Sour grapes for everyone!

[Anonymous]

I’ve been watching the CV market as well. Prices are sticky coming down. I don’t think they will come down as much as East Lake or N. Oceanside but I’ve got to believe we will see a decline of 15% or so during the next 12 months. (I think tertiary areas like Vista, Escondido, Chula might see declines of 20% to 25% more.) I live in Denver and wouldn’t mind moving back. I’m not real motivated, and I worry about moving back when tax revenues are much lower and school funding is whacked. But CV would be a good place to raise kids. Not that I know for sure, since I live in Denver, but the schools seem awfully good and I like the parks and general location. I lived in SD many years ago and I go there a few times a year, so I have some idea of the area. I don’t want to risk being a knife catcher so I will get more serious the first quarter of next year.

[Anonymous]

I’ve been watching the CV market as well. Prices are sticky coming down. I don’t think they will come down as much as East Lake or N. Oceanside but I’ve got to believe we will see a decline of 15% or so during the next 12 months. (I think tertiary areas like Vista, Escondido, Chula might see declines of 20% to 25% more.) I live in Denver and wouldn’t mind moving back. I’m not real motivated, and I worry about moving back when tax revenues are much lower and school funding is whacked. But CV would be a good place to raise kids. Not that I know for sure, since I live in Denver, but the schools seem awfully good and I like the parks and general location. I lived in SD many years ago and I go there a few times a year, so I have some idea of the area. I don’t want to risk being a knife catcher so I will get more serious the first quarter of next year.

[Anonymous]

I’ve been watching the CV market as well. Prices are sticky coming down. I don’t think they will come down as much as East Lake or N. Oceanside but I’ve got to believe we will see a decline of 15% or so during the next 12 months. (I think tertiary areas like Vista, Escondido, Chula might see declines of 20% to 25% more.) I live in Denver and wouldn’t mind moving back. I’m not real motivated, and I worry about moving back when tax revenues are much lower and school funding is whacked. But CV would be a good place to raise kids. Not that I know for sure, since I live in Denver, but the schools seem awfully good and I like the parks and general location. I lived in SD many years ago and I go there a few times a year, so I have some idea of the area. I don’t want to risk being a knife catcher so I will get more serious the first quarter of next year.

[Anonymous]

I’ve been watching the CV market as well. Prices are sticky coming down. I don’t think they will come down as much as East Lake or N. Oceanside but I’ve got to believe we will see a decline of 15% or so during the next 12 months. (I think tertiary areas like Vista, Escondido, Chula might see declines of 20% to 25% more.) I live in Denver and wouldn’t mind moving back. I’m not real motivated, and I worry about moving back when tax revenues are much lower and school funding is whacked. But CV would be a good place to raise kids. Not that I know for sure, since I live in Denver, but the schools seem awfully good and I like the parks and general location. I lived in SD many years ago and I go there a few times a year, so I have some idea of the area. I don’t want to risk being a knife catcher so I will get more serious the first quarter of next year.

[Author]

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