Encinitas Price Drop

[waitingpatiently]

Sorry I don’t know how to paste the link: MLS# 071082955

Thought this was pretty interesting. List price in October of 2007 $1.495, reduced to $1.195. They have been dropping it 100k each month.

We have been looking mostly in the La Costa Valley and Sante Fe Trails area because the schools are great. Besides “test scores” what is the major difference between the schools in the south carlsbad area and this part of Encinitas?

Thanks
Waiting Patiently

[jpinpb]

This is my opinion and I’ve been wrong plenty but for whatever M2C are worth, according to the sales history, the place sold in 1999 for 548k or so. What would be the normal appreciation were it not for the subprime loans and every evil thing associated w/it, the free money, the co-erced appraisers, the pressure put upon everyone to buy, buy, buy, etc. etc.

What would be normal appreciation in 9 years? Should property more than double? I don’t think so. I think that if the market is supposed to eventually adjust, however long that takes, that one should consider what the real value of a house would be w/normal appreciation, not spiked w/subprime juice. That’s what I do when I calculate whether it’s worth whatever they’re asking.

Some places are back down to 2001/2002 levels, before this subprime mess started. Prime properties, coastal properties are holding strong. Will they eventually adjust? Some say yes, others argue no.

I think places on the coast are still subject to the same lending standards and regardless of how much cash people say is floating around out there, I just don’t see people dropping hundreds of thousands of dollars on overpriced places. People don’t make money by throwing it away.

[jpinpb]

This is my opinion and I’ve been wrong plenty but for whatever M2C are worth, according to the sales history, the place sold in 1999 for 548k or so. What would be the normal appreciation were it not for the subprime loans and every evil thing associated w/it, the free money, the co-erced appraisers, the pressure put upon everyone to buy, buy, buy, etc. etc.

What would be normal appreciation in 9 years? Should property more than double? I don’t think so. I think that if the market is supposed to eventually adjust, however long that takes, that one should consider what the real value of a house would be w/normal appreciation, not spiked w/subprime juice. That’s what I do when I calculate whether it’s worth whatever they’re asking.

Some places are back down to 2001/2002 levels, before this subprime mess started. Prime properties, coastal properties are holding strong. Will they eventually adjust? Some say yes, others argue no.

I think places on the coast are still subject to the same lending standards and regardless of how much cash people say is floating around out there, I just don’t see people dropping hundreds of thousands of dollars on overpriced places. People don’t make money by throwing it away.

[jpinpb]

This is my opinion and I’ve been wrong plenty but for whatever M2C are worth, according to the sales history, the place sold in 1999 for 548k or so. What would be the normal appreciation were it not for the subprime loans and every evil thing associated w/it, the free money, the co-erced appraisers, the pressure put upon everyone to buy, buy, buy, etc. etc.

What would be normal appreciation in 9 years? Should property more than double? I don’t think so. I think that if the market is supposed to eventually adjust, however long that takes, that one should consider what the real value of a house would be w/normal appreciation, not spiked w/subprime juice. That’s what I do when I calculate whether it’s worth whatever they’re asking.

Some places are back down to 2001/2002 levels, before this subprime mess started. Prime properties, coastal properties are holding strong. Will they eventually adjust? Some say yes, others argue no.

I think places on the coast are still subject to the same lending standards and regardless of how much cash people say is floating around out there, I just don’t see people dropping hundreds of thousands of dollars on overpriced places. People don’t make money by throwing it away.

[jpinpb]

This is my opinion and I’ve been wrong plenty but for whatever M2C are worth, according to the sales history, the place sold in 1999 for 548k or so. What would be the normal appreciation were it not for the subprime loans and every evil thing associated w/it, the free money, the co-erced appraisers, the pressure put upon everyone to buy, buy, buy, etc. etc.

What would be normal appreciation in 9 years? Should property more than double? I don’t think so. I think that if the market is supposed to eventually adjust, however long that takes, that one should consider what the real value of a house would be w/normal appreciation, not spiked w/subprime juice. That’s what I do when I calculate whether it’s worth whatever they’re asking.

Some places are back down to 2001/2002 levels, before this subprime mess started. Prime properties, coastal properties are holding strong. Will they eventually adjust? Some say yes, others argue no.

I think places on the coast are still subject to the same lending standards and regardless of how much cash people say is floating around out there, I just don’t see people dropping hundreds of thousands of dollars on overpriced places. People don’t make money by throwing it away.

[jpinpb]

This is my opinion and I’ve been wrong plenty but for whatever M2C are worth, according to the sales history, the place sold in 1999 for 548k or so. What would be the normal appreciation were it not for the subprime loans and every evil thing associated w/it, the free money, the co-erced appraisers, the pressure put upon everyone to buy, buy, buy, etc. etc.

What would be normal appreciation in 9 years? Should property more than double? I don’t think so. I think that if the market is supposed to eventually adjust, however long that takes, that one should consider what the real value of a house would be w/normal appreciation, not spiked w/subprime juice. That’s what I do when I calculate whether it’s worth whatever they’re asking.

Some places are back down to 2001/2002 levels, before this subprime mess started. Prime properties, coastal properties are holding strong. Will they eventually adjust? Some say yes, others argue no.

I think places on the coast are still subject to the same lending standards and regardless of how much cash people say is floating around out there, I just don’t see people dropping hundreds of thousands of dollars on overpriced places. People don’t make money by throwing it away.

[sdrealtor]

I’ve been in that house. Very nice ocean view though it looks over the roofs of Seacrest Village (a nursinghome/ assisted living facility). Its very clean on the inside but lacks all the bells and whistles of more recent construction. Liked the floorplan which is a bit different than you see everyday. No fees up there. School is Capri which has the lowest test scores in the district but that is due to the bifurcated population creating a low average. Half the kids are from families where English is not spoken at home and the other half are from upper middle class families in Leucadia and Encinitas Ranch.

[sdrealtor]

I’ve been in that house. Very nice ocean view though it looks over the roofs of Seacrest Village (a nursinghome/ assisted living facility). Its very clean on the inside but lacks all the bells and whistles of more recent construction. Liked the floorplan which is a bit different than you see everyday. No fees up there. School is Capri which has the lowest test scores in the district but that is due to the bifurcated population creating a low average. Half the kids are from families where English is not spoken at home and the other half are from upper middle class families in Leucadia and Encinitas Ranch.

[sdrealtor]

I’ve been in that house. Very nice ocean view though it looks over the roofs of Seacrest Village (a nursinghome/ assisted living facility). Its very clean on the inside but lacks all the bells and whistles of more recent construction. Liked the floorplan which is a bit different than you see everyday. No fees up there. School is Capri which has the lowest test scores in the district but that is due to the bifurcated population creating a low average. Half the kids are from families where English is not spoken at home and the other half are from upper middle class families in Leucadia and Encinitas Ranch.

[sdrealtor]

I’ve been in that house. Very nice ocean view though it looks over the roofs of Seacrest Village (a nursinghome/ assisted living facility). Its very clean on the inside but lacks all the bells and whistles of more recent construction. Liked the floorplan which is a bit different than you see everyday. No fees up there. School is Capri which has the lowest test scores in the district but that is due to the bifurcated population creating a low average. Half the kids are from families where English is not spoken at home and the other half are from upper middle class families in Leucadia and Encinitas Ranch.

[sdrealtor]

I’ve been in that house. Very nice ocean view though it looks over the roofs of Seacrest Village (a nursinghome/ assisted living facility). Its very clean on the inside but lacks all the bells and whistles of more recent construction. Liked the floorplan which is a bit different than you see everyday. No fees up there. School is Capri which has the lowest test scores in the district but that is due to the bifurcated population creating a low average. Half the kids are from families where English is not spoken at home and the other half are from upper middle class families in Leucadia and Encinitas Ranch.

[CardiffBaseball]

There isn’t going to be a huge difference in schools between La Costa Valley area and Leucadia. Ultimately you’ll attend the same Jr. High and High School. Capri can be a challenge, however several Capri kids are attending TIPS Academy if you find that the school is too rough. Most of the folks that I deal with who have kids at Capri seem to like the school. A few don’t and send their kids elsewhere.

[CardiffBaseball]

There isn’t going to be a huge difference in schools between La Costa Valley area and Leucadia. Ultimately you’ll attend the same Jr. High and High School. Capri can be a challenge, however several Capri kids are attending TIPS Academy if you find that the school is too rough. Most of the folks that I deal with who have kids at Capri seem to like the school. A few don’t and send their kids elsewhere.

[CardiffBaseball]

There isn’t going to be a huge difference in schools between La Costa Valley area and Leucadia. Ultimately you’ll attend the same Jr. High and High School. Capri can be a challenge, however several Capri kids are attending TIPS Academy if you find that the school is too rough. Most of the folks that I deal with who have kids at Capri seem to like the school. A few don’t and send their kids elsewhere.

[CardiffBaseball]

There isn’t going to be a huge difference in schools between La Costa Valley area and Leucadia. Ultimately you’ll attend the same Jr. High and High School. Capri can be a challenge, however several Capri kids are attending TIPS Academy if you find that the school is too rough. Most of the folks that I deal with who have kids at Capri seem to like the school. A few don’t and send their kids elsewhere.

[Author]

Posts