Carmel Valley Auction

[Sandi Egan]

2 small corrections: the ground floor is the first floor. Normal, 3 story buildings. Some first floors partly consist of garages.
Elementary school is Carmel Del Mar (Del Mar School District).

I agree with the rest of your post .

[Coronita]

jpinpb,

Actually, relative to 2005, prices in this attached market have started to fallen considerably, more so than the detached markets. And there won't imho be any stimulus to thwart addition price falls in the attached markets. The extra variable about the CV attached market is the unusually large number of inventory, not just from people trying to sell, but from all the developers and condo-converts adding to an already bloated inventory. In the past, some of the condo-converts have been trying to limit sales. It seems like a lot of them have lately started to give the "hail mary" and dump a large set of inventory onto the market. This can't be good for resale. Carmel Pointe, Heights, Analucia, are just three of a couple of apartments that converted. By far, Heights isn't the worst, but it probably converted during the worst time (at the end of the peek).My advice if you are looking in the attached markets would be to wait. But if you are indeed looking, look to these converts to depress other nicer attached units elsewhere in CV.

 

San Diegan, Ok I stand corrected on the school district. Last time I asked, elementary was designated as Carmel Creek, but I guess that one is full. If I remember, some of the buildings had units below ground level.

 

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

—– Sour grapes for everyone!

[Coronita]

jpinpb,

Actually, relative to 2005, prices in this attached market have started to fallen considerably, more so than the detached markets. And there won't imho be any stimulus to thwart addition price falls in the attached markets. The extra variable about the CV attached market is the unusually large number of inventory, not just from people trying to sell, but from all the developers and condo-converts adding to an already bloated inventory. In the past, some of the condo-converts have been trying to limit sales. It seems like a lot of them have lately started to give the "hail mary" and dump a large set of inventory onto the market. This can't be good for resale. Carmel Pointe, Heights, Analucia, are just three of a couple of apartments that converted. By far, Heights isn't the worst, but it probably converted during the worst time (at the end of the peek).My advice if you are looking in the attached markets would be to wait. But if you are indeed looking, look to these converts to depress other nicer attached units elsewhere in CV.

 

San Diegan, Ok I stand corrected on the school district. Last time I asked, elementary was designated as Carmel Creek, but I guess that one is full. If I remember, some of the buildings had units below ground level.

 

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

—– Sour grapes for everyone!

[Coronita]

jpinpb,

Actually, relative to 2005, prices in this attached market have started to fallen considerably, more so than the detached markets. And there won't imho be any stimulus to thwart addition price falls in the attached markets. The extra variable about the CV attached market is the unusually large number of inventory, not just from people trying to sell, but from all the developers and condo-converts adding to an already bloated inventory. In the past, some of the condo-converts have been trying to limit sales. It seems like a lot of them have lately started to give the "hail mary" and dump a large set of inventory onto the market. This can't be good for resale. Carmel Pointe, Heights, Analucia, are just three of a couple of apartments that converted. By far, Heights isn't the worst, but it probably converted during the worst time (at the end of the peek).My advice if you are looking in the attached markets would be to wait. But if you are indeed looking, look to these converts to depress other nicer attached units elsewhere in CV.

 

San Diegan, Ok I stand corrected on the school district. Last time I asked, elementary was designated as Carmel Creek, but I guess that one is full. If I remember, some of the buildings had units below ground level.

 

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

—– Sour grapes for everyone!

[Coronita]

jpinpb,

Actually, relative to 2005, prices in this attached market have started to fallen considerably, more so than the detached markets. And there won't imho be any stimulus to thwart addition price falls in the attached markets. The extra variable about the CV attached market is the unusually large number of inventory, not just from people trying to sell, but from all the developers and condo-converts adding to an already bloated inventory. In the past, some of the condo-converts have been trying to limit sales. It seems like a lot of them have lately started to give the "hail mary" and dump a large set of inventory onto the market. This can't be good for resale. Carmel Pointe, Heights, Analucia, are just three of a couple of apartments that converted. By far, Heights isn't the worst, but it probably converted during the worst time (at the end of the peek).My advice if you are looking in the attached markets would be to wait. But if you are indeed looking, look to these converts to depress other nicer attached units elsewhere in CV.

 

San Diegan, Ok I stand corrected on the school district. Last time I asked, elementary was designated as Carmel Creek, but I guess that one is full. If I remember, some of the buildings had units below ground level.

 

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

—– Sour grapes for everyone!

[Coronita]

jpinpb,

Actually, relative to 2005, prices in this attached market have started to fallen considerably, more so than the detached markets. And there won't imho be any stimulus to thwart addition price falls in the attached markets. The extra variable about the CV attached market is the unusually large number of inventory, not just from people trying to sell, but from all the developers and condo-converts adding to an already bloated inventory. In the past, some of the condo-converts have been trying to limit sales. It seems like a lot of them have lately started to give the "hail mary" and dump a large set of inventory onto the market. This can't be good for resale. Carmel Pointe, Heights, Analucia, are just three of a couple of apartments that converted. By far, Heights isn't the worst, but it probably converted during the worst time (at the end of the peek).My advice if you are looking in the attached markets would be to wait. But if you are indeed looking, look to these converts to depress other nicer attached units elsewhere in CV.

 

San Diegan, Ok I stand corrected on the school district. Last time I asked, elementary was designated as Carmel Creek, but I guess that one is full. If I remember, some of the buildings had units below ground level.

 

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

—– Sour grapes for everyone!

[Coronita]

I found this  thing interesting btw:

http://sandiego.houserebate.com/search/homeview.asp?id=1673795&p3=-1&ix=42

 

MLS# 071073254 

$400,000 3887 PELL PL 134 2/2

But if you read the comments section

Sellers w/entertain offers between $349, 9K-$399 K, Short sale, Only 1 year old! 9-foot ceilings, hardwood flooring in LR/DR/Kitchen slab granite counters, stainless steel appliances, underground garage, Gated project, exercise room, 2miles 2the beach, by shopping center, library, bookstore, ball fields /pool/tennis next door

originally listed $479k.  But seller entertains $350k? Ouch. Doubt the short sale will go through.

 

 

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

—– Sour grapes for everyone!

[Coronita]

I found this  thing interesting btw:

http://sandiego.houserebate.com/search/homeview.asp?id=1673795&p3=-1&ix=42

 

MLS# 071073254 

$400,000 3887 PELL PL 134 2/2

But if you read the comments section

Sellers w/entertain offers between $349, 9K-$399 K, Short sale, Only 1 year old! 9-foot ceilings, hardwood flooring in LR/DR/Kitchen slab granite counters, stainless steel appliances, underground garage, Gated project, exercise room, 2miles 2the beach, by shopping center, library, bookstore, ball fields /pool/tennis next door

originally listed $479k.  But seller entertains $350k? Ouch. Doubt the short sale will go through.

 

 

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

—– Sour grapes for everyone!

[Coronita]

I found this  thing interesting btw:

http://sandiego.houserebate.com/search/homeview.asp?id=1673795&p3=-1&ix=42

 

MLS# 071073254 

$400,000 3887 PELL PL 134 2/2

But if you read the comments section

Sellers w/entertain offers between $349, 9K-$399 K, Short sale, Only 1 year old! 9-foot ceilings, hardwood flooring in LR/DR/Kitchen slab granite counters, stainless steel appliances, underground garage, Gated project, exercise room, 2miles 2the beach, by shopping center, library, bookstore, ball fields /pool/tennis next door

originally listed $479k.  But seller entertains $350k? Ouch. Doubt the short sale will go through.

 

 

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

—– Sour grapes for everyone!

[Coronita]

I found this  thing interesting btw:

http://sandiego.houserebate.com/search/homeview.asp?id=1673795&p3=-1&ix=42

 

MLS# 071073254 

$400,000 3887 PELL PL 134 2/2

But if you read the comments section

Sellers w/entertain offers between $349, 9K-$399 K, Short sale, Only 1 year old! 9-foot ceilings, hardwood flooring in LR/DR/Kitchen slab granite counters, stainless steel appliances, underground garage, Gated project, exercise room, 2miles 2the beach, by shopping center, library, bookstore, ball fields /pool/tennis next door

originally listed $479k.  But seller entertains $350k? Ouch. Doubt the short sale will go through.

 

 

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

—– Sour grapes for everyone!

[Coronita]

I found this  thing interesting btw:

http://sandiego.houserebate.com/search/homeview.asp?id=1673795&p3=-1&ix=42

 

MLS# 071073254 

$400,000 3887 PELL PL 134 2/2

But if you read the comments section

Sellers w/entertain offers between $349, 9K-$399 K, Short sale, Only 1 year old! 9-foot ceilings, hardwood flooring in LR/DR/Kitchen slab granite counters, stainless steel appliances, underground garage, Gated project, exercise room, 2miles 2the beach, by shopping center, library, bookstore, ball fields /pool/tennis next door

originally listed $479k.  But seller entertains $350k? Ouch. Doubt the short sale will go through.

 

 

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

—– Sour grapes for everyone!

[jpinpb]

Thank you for the input and advise. I thought that this auction would probably bring down the comps in CV.

[jpinpb]

Thank you for the input and advise. I thought that this auction would probably bring down the comps in CV.

[jpinpb]

Thank you for the input and advise. I thought that this auction would probably bring down the comps in CV.

[jpinpb]

Thank you for the input and advise. I thought that this auction would probably bring down the comps in CV.

[Author]

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