Carmel Valley Single Family Home below 600K

[SD Realtor]

I suppose the intent of this thread is to show that CV has some affordability coming however it is still VERY VERY frustrating for young families looking to buy there. Yes there may be a picking here or there but the facts are as displayed on the MLS. There are only 7 listings on the MLS today in CV for detached homes that are under 700k and two of them are not Fee Simple ownership, they are condos.

That blows.

I am not saying it has not come down in price because yes it has. However the demand is strong there because there is still very robust employment. Lots of engineers and other professionals with lots of good income who want good schools.

Anyways it will be nice to see it come down but I think people who are thinking a 450k home that is a 3/2 1800 sf home in the near future may need to recalibrate to the 09 or 10 timeframe.

SD Realtor

[SD Realtor]

I suppose the intent of this thread is to show that CV has some affordability coming however it is still VERY VERY frustrating for young families looking to buy there. Yes there may be a picking here or there but the facts are as displayed on the MLS. There are only 7 listings on the MLS today in CV for detached homes that are under 700k and two of them are not Fee Simple ownership, they are condos.

That blows.

I am not saying it has not come down in price because yes it has. However the demand is strong there because there is still very robust employment. Lots of engineers and other professionals with lots of good income who want good schools.

Anyways it will be nice to see it come down but I think people who are thinking a 450k home that is a 3/2 1800 sf home in the near future may need to recalibrate to the 09 or 10 timeframe.

SD Realtor

[SD Realtor]

I suppose the intent of this thread is to show that CV has some affordability coming however it is still VERY VERY frustrating for young families looking to buy there. Yes there may be a picking here or there but the facts are as displayed on the MLS. There are only 7 listings on the MLS today in CV for detached homes that are under 700k and two of them are not Fee Simple ownership, they are condos.

That blows.

I am not saying it has not come down in price because yes it has. However the demand is strong there because there is still very robust employment. Lots of engineers and other professionals with lots of good income who want good schools.

Anyways it will be nice to see it come down but I think people who are thinking a 450k home that is a 3/2 1800 sf home in the near future may need to recalibrate to the 09 or 10 timeframe.

SD Realtor

[jimmyle]

SDR,

I think you are right that many young couples with children or planning to have them are willing to pay a little bit more to live in an area like Carmel Valley.

I have a friend who purchased a house for $590K (~1700 sq ft) in the Calle Cristobal in Mira Mesa in 2005. Now his daughter is 4 yr old and he thinks that the schools in Mira Mesa are average at best. He wishes that he could have waited a little bit so he could buy in Scripps Ranch or Carmel Valley.

Because school is such an important issue for many, I think that a decent SFH (~1500-1700 sq ft) in the 500s in Carmel Valley will be a good buy for many people so prices might not go under 500K for this area any time soon, and probably never because once it is around 550K we and many other people will jump in.

[jimmyle]

SDR,

I think you are right that many young couples with children or planning to have them are willing to pay a little bit more to live in an area like Carmel Valley.

I have a friend who purchased a house for $590K (~1700 sq ft) in the Calle Cristobal in Mira Mesa in 2005. Now his daughter is 4 yr old and he thinks that the schools in Mira Mesa are average at best. He wishes that he could have waited a little bit so he could buy in Scripps Ranch or Carmel Valley.

Because school is such an important issue for many, I think that a decent SFH (~1500-1700 sq ft) in the 500s in Carmel Valley will be a good buy for many people so prices might not go under 500K for this area any time soon, and probably never because once it is around 550K we and many other people will jump in.

[jimmyle]

SDR,

I think you are right that many young couples with children or planning to have them are willing to pay a little bit more to live in an area like Carmel Valley.

I have a friend who purchased a house for $590K (~1700 sq ft) in the Calle Cristobal in Mira Mesa in 2005. Now his daughter is 4 yr old and he thinks that the schools in Mira Mesa are average at best. He wishes that he could have waited a little bit so he could buy in Scripps Ranch or Carmel Valley.

Because school is such an important issue for many, I think that a decent SFH (~1500-1700 sq ft) in the 500s in Carmel Valley will be a good buy for many people so prices might not go under 500K for this area any time soon, and probably never because once it is around 550K we and many other people will jump in.

[jimmyle]

SDR,

I think you are right that many young couples with children or planning to have them are willing to pay a little bit more to live in an area like Carmel Valley.

I have a friend who purchased a house for $590K (~1700 sq ft) in the Calle Cristobal in Mira Mesa in 2005. Now his daughter is 4 yr old and he thinks that the schools in Mira Mesa are average at best. He wishes that he could have waited a little bit so he could buy in Scripps Ranch or Carmel Valley.

Because school is such an important issue for many, I think that a decent SFH (~1500-1700 sq ft) in the 500s in Carmel Valley will be a good buy for many people so prices might not go under 500K for this area any time soon, and probably never because once it is around 550K we and many other people will jump in.

[jimmyle]

SDR,

I think you are right that many young couples with children or planning to have them are willing to pay a little bit more to live in an area like Carmel Valley.

I have a friend who purchased a house for $590K (~1700 sq ft) in the Calle Cristobal in Mira Mesa in 2005. Now his daughter is 4 yr old and he thinks that the schools in Mira Mesa are average at best. He wishes that he could have waited a little bit so he could buy in Scripps Ranch or Carmel Valley.

Because school is such an important issue for many, I think that a decent SFH (~1500-1700 sq ft) in the 500s in Carmel Valley will be a good buy for many people so prices might not go under 500K for this area any time soon, and probably never because once it is around 550K we and many other people will jump in.

[SD Realtor]

Hi Jimmy –

You know I don’t like to commit to much but yeah it will be somewhat surprising to see CV homes dip into that low 500 range or below in the near future. Can it happen? Yeah…however without a major catalyst such as some strong job loss in the engineering sector OR some major rate moves in the upward direction, I do not see it.

Now can the homes that are more expensive (800k and up) in CV come down substantially? Yeah they can… however even those homes are pushed by a strong demand from well salaried professionals.

I guess my point is not to argue that the price to income ratios are still not way out of whack in CV because they are. The point is once more, that there are alot of people with money that push for CV and want the schools and the reduced commute compare to LCV or 4S.

SD Realtor

[SD Realtor]

Hi Jimmy –

You know I don’t like to commit to much but yeah it will be somewhat surprising to see CV homes dip into that low 500 range or below in the near future. Can it happen? Yeah…however without a major catalyst such as some strong job loss in the engineering sector OR some major rate moves in the upward direction, I do not see it.

Now can the homes that are more expensive (800k and up) in CV come down substantially? Yeah they can… however even those homes are pushed by a strong demand from well salaried professionals.

I guess my point is not to argue that the price to income ratios are still not way out of whack in CV because they are. The point is once more, that there are alot of people with money that push for CV and want the schools and the reduced commute compare to LCV or 4S.

SD Realtor

[SD Realtor]

Hi Jimmy –

You know I don’t like to commit to much but yeah it will be somewhat surprising to see CV homes dip into that low 500 range or below in the near future. Can it happen? Yeah…however without a major catalyst such as some strong job loss in the engineering sector OR some major rate moves in the upward direction, I do not see it.

Now can the homes that are more expensive (800k and up) in CV come down substantially? Yeah they can… however even those homes are pushed by a strong demand from well salaried professionals.

I guess my point is not to argue that the price to income ratios are still not way out of whack in CV because they are. The point is once more, that there are alot of people with money that push for CV and want the schools and the reduced commute compare to LCV or 4S.

SD Realtor

[SD Realtor]

Hi Jimmy –

You know I don’t like to commit to much but yeah it will be somewhat surprising to see CV homes dip into that low 500 range or below in the near future. Can it happen? Yeah…however without a major catalyst such as some strong job loss in the engineering sector OR some major rate moves in the upward direction, I do not see it.

Now can the homes that are more expensive (800k and up) in CV come down substantially? Yeah they can… however even those homes are pushed by a strong demand from well salaried professionals.

I guess my point is not to argue that the price to income ratios are still not way out of whack in CV because they are. The point is once more, that there are alot of people with money that push for CV and want the schools and the reduced commute compare to LCV or 4S.

SD Realtor

[SD Realtor]

Hi Jimmy –

You know I don’t like to commit to much but yeah it will be somewhat surprising to see CV homes dip into that low 500 range or below in the near future. Can it happen? Yeah…however without a major catalyst such as some strong job loss in the engineering sector OR some major rate moves in the upward direction, I do not see it.

Now can the homes that are more expensive (800k and up) in CV come down substantially? Yeah they can… however even those homes are pushed by a strong demand from well salaried professionals.

I guess my point is not to argue that the price to income ratios are still not way out of whack in CV because they are. The point is once more, that there are alot of people with money that push for CV and want the schools and the reduced commute compare to LCV or 4S.

SD Realtor

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