Home › Forums › Closed Forums › Properties or Areas › Carmel Valley Single Family Home below 600K
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SD Realtor.
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October 13, 2007 at 1:13 PM #88729October 13, 2007 at 1:13 PM #88736
luxuryglow
ParticipantSome info:
Subd. Costa Del Sol West
Last sale: 2003 @ $495,000
Tax 2007: $7,578
Sqf:1615, 3 bdr, 3 bath
Builder: Barrat american
Seems original owned, no history of other saleNo short sale… kind of….??
October 13, 2007 at 1:22 PM #88735VoZangre
Participantbuilder: Barat
the quality must be….. very niice!
October 13, 2007 at 1:22 PM #88742Participantbuilder: Barat
the quality must be….. very niice!
October 13, 2007 at 1:31 PM #88739SD Realtor
ParticipantFLU I took a peek at the tax rool on the MLS. It is a speculative statement on my part. I see a 440k loan originated in 05 and then another 150k in 06. So that is 590k. So at 599k sales price they would need to come in with cash or short it. My bet is they would come in with cash. My bet before that bet is that they will nix a 599k offer this early in the listing period.
As you know I like to bet.
October 13, 2007 at 1:31 PM #88746ParticipantFLU I took a peek at the tax rool on the MLS. It is a speculative statement on my part. I see a 440k loan originated in 05 and then another 150k in 06. So that is 590k. So at 599k sales price they would need to come in with cash or short it. My bet is they would come in with cash. My bet before that bet is that they will nix a 599k offer this early in the listing period.
As you know I like to bet.
October 13, 2007 at 3:52 PM #88779Daniel
ParticipantI know that subdivision pretty well. It’s a bit on the fringe of CV, in the general Pacific Highlands Ranch – Torrey del Mar corridor along Carmel Valley Road. That area is much softer than the older CV areas, as there is a lot of recent construction. There is probably nothing wrong with the house, just a seller who is serious about selling. Also, that particular floor plan is quite small, and I think its price peaked at just under $700K in 2005. So the discount isn’t that great (yet). The top of their pricing range ($669K) is almost peak pricing.
October 13, 2007 at 3:52 PM #88786ParticipantI know that subdivision pretty well. It’s a bit on the fringe of CV, in the general Pacific Highlands Ranch – Torrey del Mar corridor along Carmel Valley Road. That area is much softer than the older CV areas, as there is a lot of recent construction. There is probably nothing wrong with the house, just a seller who is serious about selling. Also, that particular floor plan is quite small, and I think its price peaked at just under $700K in 2005. So the discount isn’t that great (yet). The top of their pricing range ($669K) is almost peak pricing.
October 13, 2007 at 4:01 PM #88787sdrealtor
ParticipantThere is no way of knowing what that 150K loan is. It could be a HELOC with a zero balance. I have one of them.
October 13, 2007 at 4:01 PM #88794ParticipantThere is no way of knowing what that 150K loan is. It could be a HELOC with a zero balance. I have one of them.
October 13, 2007 at 4:52 PM #88795bsrsharma
ParticipantI have one of them.
What is the use? I know some people have taken out this 'anticipatory' HELOCs. I never figured out a reason. BTW, how much does it cost? (setup & to hold)
October 13, 2007 at 4:52 PM #88802ParticipantI have one of them.
What is the use? I know some people have taken out this 'anticipatory' HELOCs. I never figured out a reason. BTW, how much does it cost? (setup & to hold)
October 13, 2007 at 5:59 PM #88803ParticipantIt cost me nothing to set up and it costs me nothing to hold. I wanted access to a couple hundred grand just in case. It helps me sleep well knowing I could whip out a check book and write a huge check at a moments notice without liquidating long term assets if the need or opportunity arose where I needed to.
FWIW, the rate on it is Prime minus 1%.
October 13, 2007 at 5:59 PM #88810ParticipantIt cost me nothing to set up and it costs me nothing to hold. I wanted access to a couple hundred grand just in case. It helps me sleep well knowing I could whip out a check book and write a huge check at a moments notice without liquidating long term assets if the need or opportunity arose where I needed to.
FWIW, the rate on it is Prime minus 1%.
October 13, 2007 at 6:20 PM #88807
CoronitaParticipantbsrsharma,
Actually, lot's of people get a HELOC for emergency purposes.See, when you're currently well employed, well financially, tt's easy to get a loan, including a HELOC. But suppose you have a bad string of luck, out of a job, get into a big health issue and for some reason insurance isn't up to snuff. You're short on cash, you won't be able take a loan out at that point. Some people get HELOC's when they can, "just" in case. Trying to refinance equity out of a home when your unemployed and need money is not too easy.
It' very similar to dating or employment. When you have a significant other or have a job, it's much easier to find something else. When you really need a significant other or a job when you lose your previous one, it's just that much more difficult….
So several people i know have HELOCs with 0 balance. It's just added "just in case". I've been too lazy to get one myself, but one of these days I will. Ok, the real reason is that I froze my credit files, and forgot where I put the unfreeze pins to allow someone to pull a credit report. Oopps.
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