Bressi Ranch takes a hit

[Carlsbadliving]

San Elijo is near an old landfill. Bressi is not.

[Bugs]

I don’t deny the landfill issue could cause additional declines over there as compared to areas without that problem. However, I have to also note that it didn’t seem to hurt them much 18 months ago when the market was still moving along. If they start having a lot of media coverage about odors escaping the remediation barriers or soil subsidence then that would make things worse than they already are, but other than that I just don’t see the landfill issue being a big factor.

Much of the redevelopment areas in downtown San Diego is subject to “the blob”, a 20-block sized petrochemical plume that’s been floating around for a number of years. I don’t notice that as being a significant factor in marketability down there.

[lendingbubblecontinues]

One of the beeyotches over there at Lennar(sales manager) told me the school district for Bressi Ranch is Carlsbad. This was back in March. Isn’t Bressi Ranch in the San Marcos school district?

[Carlsbadliving]

Bressi is in the Carlsbad school district. Rancho Carillo to the east is in the San Mucus school district.

[farbet]

Yes san mucus indeeed. Why the high MR for a land fill ??
Does anyone know exactly which area was the toxic dump!!

[JJGittes]

Actually, to be fair, the elementary school in Rancho Carillo is excellent. (see greatschools.net) The middle school in San Elijo, which carrillo kids apparently go to, I bet will also be pretty good. Now, San Marcos High, that is a whole different story. But who knows, maybe the demographics will change in coming years/decades. Feel free to hold your breath on that and bet the farm…….

[Carlsbadliving]

The landfill is the green colored portion to the south of the main development area. 

[outtamojo]

Hi all, I was thinking of moving my family from Salinas,Ca
to North County. What are the kids like over there? Are they super-preppy, down to earth, or something in-between?

[Anonymous]

My family went looking in Bressi Ranch at the Wisteria models for sale. The one we liked was the smallest available, around 2370 square feet, but had the largest front yard space (it was back off the street further than the others which was nice). Fully furnished except for fridge, tv & washer/dryer. Nice built-in bbq in courtyard. Right across from park area and swimming pools, so the small yard thing not a factor for us. Was being offered at 850,000. Should we put in an offer at like at 800,000? Thoughts?

[ocrenter]

socalreloc, are you sure you want to spend $200,000 over someone else for the same exact model and therefore pay property tax on that extra $200,000 every year for the rest of the years you own that home?

[JES]

Assuming you are serious, you should read this chain of posts from April. Someone claims that Wisteria homes were selling for the high 600s. Also, in San Elijo you can get the Atherton and Luminera plans for 50k+ off and 4-3-0 financing. This is a 30-year rate at 6.7 or so, and they pay 4% of it your 1st year, 2% second year, then 6.7% fixed after. Luminera are the same size as the one you are looking at and can be had for the high 500s. Have you looked elsewhere in Carlsbad? Lots of people paid lots of $$ in Bressi = lots of trouble in the next few years. Other areas = no mello roos, less sales past 5 years etc. = more stable neighborhoods. Like Aviara, for example. Met a guy who bought in Bressi 3-years ago. His comments, “We stretched man, but this is the dream. I can’t afford the place but it will keep going up man.”

Previous Chain:
http://piggington.com/bressi_ranch_25_cheaper_than_a_year_ago

San Elijo:
http://www.sanelijohills.com/current_neighborhoods.php

[CardiffBaseball]

Just remember there is a premium for schools and demographics regarding Carlsbad Vs. San Marcos. I think SEH also means an extra 20 minutes of commute assuming you work down in SD.

[vcguy_10]

$800K for a house that, if it were for rent, would fetch no more than $2800 per month? I don’t think so. Take the highest monthly rent you can get for that house, then multiply that number by 130, and that’s the most I would be willing to pay. Otherwise, I’ll happily rent the house next door, for a fraction of owning, and save my cash for a few years.

[SD Realtor]

I agree SOCALRELOC… I would seriously advise you to rent for a year or so, then get a great deal in 2008.

[Anonymous]

Alright. We are in no real rush. Have a 3 year old we want to get in good school district so we have a little time. Seems like the market is indeed becoming more and more a buyer’s market.

Still, that Wisteria model was professionally decorated and a nice location. May put in a lowball offer to see what happens. Have found lots of comps through various blogs and websites. And thanks for everyone’s feedback.

[Author]

Posts