City Venture at it again

[earlyretirement]

[quote=ocrenter]

wow, $1.8 million with additional upgrade cost down to $1.2 million.

If I recall HOA was $500, now $600 plus, I could be mistaken.

problem with Crosby landscaping is they go for all greens and lawns, which eat up a lot of water. most of the newer developments at least try to go with more drought resistant choices.[/quote]

Hey OC,

Yeah, I can’t imagine how much more they sunk into it. I talked to someone that said they know the owner and a fortune was sunk into it. (The Redfin listing says $350,000 was sunk into it but I heard it could have been more). It will be interesting to see what the sale goes through for.

It looks like it fell through a few days ago but someone else swooped in. The low list price is $1.1 million which at that size and for the upgrades seems reasonable. It sits on over half an acre. If I didn’t already buy I might have been interested in it.

I can’t imagine what they spend in maintenance fees at the Crosby. I know in Santaluz it’s almost $1 million a year.

Totally strange to see big houses like that with only 2 bedrooms. Even for retirees.

[ocrenter]

[quote=earlyretirement]

Yeah, I can’t imagine how much more they sunk into it. I talked to someone that said they know the owner and a fortune was sunk into it. (The Redfin listing says $350,000 was sunk into it but I heard it could have been more). It will be interesting to see what the sale goes through for.

It looks like it fell through a few days ago but someone else swooped in. The low list price is $1.1 million which at that size and for the upgrades seems reasonable. It sits on over half an acre. If I didn’t already buy I might have been interested in it.

I can’t imagine what they spend in maintenance fees at the Crosby. I know in Santaluz it’s almost $1 million a year.

Totally strange to see big houses like that with only 2 bedrooms. Even for retirees.[/quote]

I doubt they would understate the total cost of improvement on the realtor write up. $350k sounds about right. that would make it more than half off!

[ocrenter]

[quote=earlyretirement]

Yeah, I can’t imagine how much more they sunk into it. I talked to someone that said they know the owner and a fortune was sunk into it. (The Redfin listing says $350,000 was sunk into it but I heard it could have been more). It will be interesting to see what the sale goes through for.

It looks like it fell through a few days ago but someone else swooped in. The low list price is $1.1 million which at that size and for the upgrades seems reasonable. It sits on over half an acre. If I didn’t already buy I might have been interested in it.

I can’t imagine what they spend in maintenance fees at the Crosby. I know in Santaluz it’s almost $1 million a year.

Totally strange to see big houses like that with only 2 bedrooms. Even for retirees.[/quote]

I doubt they would understate the total cost of improvement on the realtor write up. $350k sounds about right. that would make it more than half off!

[ocrenter]

[quote=earlyretirement]

Yeah, I can’t imagine how much more they sunk into it. I talked to someone that said they know the owner and a fortune was sunk into it. (The Redfin listing says $350,000 was sunk into it but I heard it could have been more). It will be interesting to see what the sale goes through for.

It looks like it fell through a few days ago but someone else swooped in. The low list price is $1.1 million which at that size and for the upgrades seems reasonable. It sits on over half an acre. If I didn’t already buy I might have been interested in it.

I can’t imagine what they spend in maintenance fees at the Crosby. I know in Santaluz it’s almost $1 million a year.

Totally strange to see big houses like that with only 2 bedrooms. Even for retirees.[/quote]

I doubt they would understate the total cost of improvement on the realtor write up. $350k sounds about right. that would make it more than half off!

[ocrenter]

[quote=earlyretirement]

Yeah, I can’t imagine how much more they sunk into it. I talked to someone that said they know the owner and a fortune was sunk into it. (The Redfin listing says $350,000 was sunk into it but I heard it could have been more). It will be interesting to see what the sale goes through for.

It looks like it fell through a few days ago but someone else swooped in. The low list price is $1.1 million which at that size and for the upgrades seems reasonable. It sits on over half an acre. If I didn’t already buy I might have been interested in it.

I can’t imagine what they spend in maintenance fees at the Crosby. I know in Santaluz it’s almost $1 million a year.

Totally strange to see big houses like that with only 2 bedrooms. Even for retirees.[/quote]

I doubt they would understate the total cost of improvement on the realtor write up. $350k sounds about right. that would make it more than half off!

[ocrenter]

[quote=earlyretirement]

Yeah, I can’t imagine how much more they sunk into it. I talked to someone that said they know the owner and a fortune was sunk into it. (The Redfin listing says $350,000 was sunk into it but I heard it could have been more). It will be interesting to see what the sale goes through for.

It looks like it fell through a few days ago but someone else swooped in. The low list price is $1.1 million which at that size and for the upgrades seems reasonable. It sits on over half an acre. If I didn’t already buy I might have been interested in it.

I can’t imagine what they spend in maintenance fees at the Crosby. I know in Santaluz it’s almost $1 million a year.

Totally strange to see big houses like that with only 2 bedrooms. Even for retirees.[/quote]

I doubt they would understate the total cost of improvement on the realtor write up. $350k sounds about right. that would make it more than half off!

[ocrenter]

Here’s the latest from City Ventures in Encinitas:

http://www.redfin.com/CA/Encinitas/Undisclosed-address-92024/home/17521490

http://www.cityventures.com/encinitas.php

At sales price of $4 million, the 19 lots each at ~9000 sqft average out to $210k. Looks like the average home will be around 3000 sqft. With them asking for low $900k and up, they should be making pretty decent profit with this set of homes.

interestingly, the property has been for sale since 2005, asking was $4.6 million, but looks like it was only approved for 3 homes per acre, that would translate to ~15 homes. that should have still penciled out quite well during the peak. wonder why no builder purchased it back in the days. per the listing they managed to change the zoning to 19 homes only recently.

[ocrenter]

Here’s the latest from City Ventures in Encinitas:

http://www.redfin.com/CA/Encinitas/Undisclosed-address-92024/home/17521490

http://www.cityventures.com/encinitas.php

At sales price of $4 million, the 19 lots each at ~9000 sqft average out to $210k. Looks like the average home will be around 3000 sqft. With them asking for low $900k and up, they should be making pretty decent profit with this set of homes.

interestingly, the property has been for sale since 2005, asking was $4.6 million, but looks like it was only approved for 3 homes per acre, that would translate to ~15 homes. that should have still penciled out quite well during the peak. wonder why no builder purchased it back in the days. per the listing they managed to change the zoning to 19 homes only recently.

[ocrenter]

Here’s the latest from City Ventures in Encinitas:

http://www.redfin.com/CA/Encinitas/Undisclosed-address-92024/home/17521490

http://www.cityventures.com/encinitas.php

At sales price of $4 million, the 19 lots each at ~9000 sqft average out to $210k. Looks like the average home will be around 3000 sqft. With them asking for low $900k and up, they should be making pretty decent profit with this set of homes.

interestingly, the property has been for sale since 2005, asking was $4.6 million, but looks like it was only approved for 3 homes per acre, that would translate to ~15 homes. that should have still penciled out quite well during the peak. wonder why no builder purchased it back in the days. per the listing they managed to change the zoning to 19 homes only recently.

[ocrenter]

Here’s the latest from City Ventures in Encinitas:

http://www.redfin.com/CA/Encinitas/Undisclosed-address-92024/home/17521490

http://www.cityventures.com/encinitas.php

At sales price of $4 million, the 19 lots each at ~9000 sqft average out to $210k. Looks like the average home will be around 3000 sqft. With them asking for low $900k and up, they should be making pretty decent profit with this set of homes.

interestingly, the property has been for sale since 2005, asking was $4.6 million, but looks like it was only approved for 3 homes per acre, that would translate to ~15 homes. that should have still penciled out quite well during the peak. wonder why no builder purchased it back in the days. per the listing they managed to change the zoning to 19 homes only recently.

[ocrenter]

Here’s the latest from City Ventures in Encinitas:

http://www.redfin.com/CA/Encinitas/Undisclosed-address-92024/home/17521490

http://www.cityventures.com/encinitas.php

At sales price of $4 million, the 19 lots each at ~9000 sqft average out to $210k. Looks like the average home will be around 3000 sqft. With them asking for low $900k and up, they should be making pretty decent profit with this set of homes.

interestingly, the property has been for sale since 2005, asking was $4.6 million, but looks like it was only approved for 3 homes per acre, that would translate to ~15 homes. that should have still penciled out quite well during the peak. wonder why no builder purchased it back in the days. per the listing they managed to change the zoning to 19 homes only recently.

[ljinvestor]

earlyretirement- currently what do you consider is the best deal in Santaluz for under $1.2 million.

Also, any nice developments in RSF or Del Mar area where you can get 3500sf+ home for under $1.2 will reasonable HOA and little to no MR?

[ljinvestor]

earlyretirement- currently what do you consider is the best deal in Santaluz for under $1.2 million.

Also, any nice developments in RSF or Del Mar area where you can get 3500sf+ home for under $1.2 will reasonable HOA and little to no MR?

[ljinvestor]

earlyretirement- currently what do you consider is the best deal in Santaluz for under $1.2 million.

Also, any nice developments in RSF or Del Mar area where you can get 3500sf+ home for under $1.2 will reasonable HOA and little to no MR?

[ljinvestor]

earlyretirement- currently what do you consider is the best deal in Santaluz for under $1.2 million.

Also, any nice developments in RSF or Del Mar area where you can get 3500sf+ home for under $1.2 will reasonable HOA and little to no MR?

[Author]

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