Carmel Valley Auction

[Coronita]

Now this is interesting….

If you follow the original auction link, http://www.auctionredcnow.com/auction_details.php?auctionID=D-011

It showed 32 units up for auction.

 

if you follow the link now, it shows considerably less, 15. Though the auction is over, redc is still showing 15 units. So I'm wondering if this is a list of units that ended up not closing.

 

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

—– Sour grapes for everyone!

[jpinpb]

Did half just not sell? People walking even before buying. Love it.

[jpinpb]

Did half just not sell? People walking even before buying. Love it.

[jpinpb]

Did half just not sell? People walking even before buying. Love it.

[jpinpb]

Did half just not sell? People walking even before buying. Love it.

[jpinpb]

Did half just not sell? People walking even before buying. Love it.

[sdnerd]

I’m not too surprised – while I think the prices are still too high, it’s got to be looking fairly attractive now that prices have fallen.

I think we can all agree CV is a very high demand area.

Renting a 2 bedroom unit in that area will cost you ~$2,000/mo. Roughly $24,000/yr.

With a ~$400,000 sale price, 20% down, 6.5% fixed the mortgage payment is going to run ~$2,025/mo. Even with a lower down payment, we are still in the ~$2,200/mo range.

Tax break, HOA, insurance get pretty close to being a wash give or take a small amount.

I guess it depends on how much you think the units will eventually sell for. If they fall another 20% their selling price would be around ~$320,000. Maybe they will, maybe they won’t and who knows how long it will take or what bailouts will take place. Either way, your rent is costing you $24k/yr.

Personally I wouldn’t buy one, but the #s aren’t that horrible unless I’m just missing something here.

[sdnerd]

I’m not too surprised – while I think the prices are still too high, it’s got to be looking fairly attractive now that prices have fallen.

I think we can all agree CV is a very high demand area.

Renting a 2 bedroom unit in that area will cost you ~$2,000/mo. Roughly $24,000/yr.

With a ~$400,000 sale price, 20% down, 6.5% fixed the mortgage payment is going to run ~$2,025/mo. Even with a lower down payment, we are still in the ~$2,200/mo range.

Tax break, HOA, insurance get pretty close to being a wash give or take a small amount.

I guess it depends on how much you think the units will eventually sell for. If they fall another 20% their selling price would be around ~$320,000. Maybe they will, maybe they won’t and who knows how long it will take or what bailouts will take place. Either way, your rent is costing you $24k/yr.

Personally I wouldn’t buy one, but the #s aren’t that horrible unless I’m just missing something here.

[sdnerd]

I’m not too surprised – while I think the prices are still too high, it’s got to be looking fairly attractive now that prices have fallen.

I think we can all agree CV is a very high demand area.

Renting a 2 bedroom unit in that area will cost you ~$2,000/mo. Roughly $24,000/yr.

With a ~$400,000 sale price, 20% down, 6.5% fixed the mortgage payment is going to run ~$2,025/mo. Even with a lower down payment, we are still in the ~$2,200/mo range.

Tax break, HOA, insurance get pretty close to being a wash give or take a small amount.

I guess it depends on how much you think the units will eventually sell for. If they fall another 20% their selling price would be around ~$320,000. Maybe they will, maybe they won’t and who knows how long it will take or what bailouts will take place. Either way, your rent is costing you $24k/yr.

Personally I wouldn’t buy one, but the #s aren’t that horrible unless I’m just missing something here.

[sdnerd]

I’m not too surprised – while I think the prices are still too high, it’s got to be looking fairly attractive now that prices have fallen.

I think we can all agree CV is a very high demand area.

Renting a 2 bedroom unit in that area will cost you ~$2,000/mo. Roughly $24,000/yr.

With a ~$400,000 sale price, 20% down, 6.5% fixed the mortgage payment is going to run ~$2,025/mo. Even with a lower down payment, we are still in the ~$2,200/mo range.

Tax break, HOA, insurance get pretty close to being a wash give or take a small amount.

I guess it depends on how much you think the units will eventually sell for. If they fall another 20% their selling price would be around ~$320,000. Maybe they will, maybe they won’t and who knows how long it will take or what bailouts will take place. Either way, your rent is costing you $24k/yr.

Personally I wouldn’t buy one, but the #s aren’t that horrible unless I’m just missing something here.

[sdnerd]

I’m not too surprised – while I think the prices are still too high, it’s got to be looking fairly attractive now that prices have fallen.

I think we can all agree CV is a very high demand area.

Renting a 2 bedroom unit in that area will cost you ~$2,000/mo. Roughly $24,000/yr.

With a ~$400,000 sale price, 20% down, 6.5% fixed the mortgage payment is going to run ~$2,025/mo. Even with a lower down payment, we are still in the ~$2,200/mo range.

Tax break, HOA, insurance get pretty close to being a wash give or take a small amount.

I guess it depends on how much you think the units will eventually sell for. If they fall another 20% their selling price would be around ~$320,000. Maybe they will, maybe they won’t and who knows how long it will take or what bailouts will take place. Either way, your rent is costing you $24k/yr.

Personally I wouldn’t buy one, but the #s aren’t that horrible unless I’m just missing something here.

[USMCBunny]

SD Nerd

I live just over the hill in Solana Beach. Big 2 bedroom condo, garage/race track view/ 2 blks from the beach … and pay $2,100.00. I would be pretty surprised if one of these places got 2K a month in rent over the long haul.

Flywestcoast

[USMCBunny]

SD Nerd

I live just over the hill in Solana Beach. Big 2 bedroom condo, garage/race track view/ 2 blks from the beach … and pay $2,100.00. I would be pretty surprised if one of these places got 2K a month in rent over the long haul.

Flywestcoast

[USMCBunny]

SD Nerd

I live just over the hill in Solana Beach. Big 2 bedroom condo, garage/race track view/ 2 blks from the beach … and pay $2,100.00. I would be pretty surprised if one of these places got 2K a month in rent over the long haul.

Flywestcoast

[USMCBunny]

SD Nerd

I live just over the hill in Solana Beach. Big 2 bedroom condo, garage/race track view/ 2 blks from the beach … and pay $2,100.00. I would be pretty surprised if one of these places got 2K a month in rent over the long haul.

Flywestcoast

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