Future of Santa Luz – 92127?

[San Diego RE Bear]

Hi All:

I am hoping you can do me a huge favor. Does anyone have information on the Santa Luz/Crosby area, zip code 92127?

I have a friend who is looking at buying his dream home which will end up (via a short sale) costing him about $2.25 million, about 15-20% below the most recent comps. These homes didn’t exist in 2000 so there’s no way for me to give him an estimate of where I think the price will go and I know nothing about this area. Is there anyone who has been watching this area and could provide some insight on how much more you think the prices may fall and/or how overvalued the area is?

Any information or opinion you can provide would be greatly appreciated! Thank you so much in advance.

San Diego RE Bear

[jpinpb]

OC has a blog and featured some properties in Santa Luz. As far as tracking the area, hopefully others here will offer their knowledge.

[jpinpb]

OC has a blog and featured some properties in Santa Luz. As far as tracking the area, hopefully others here will offer their knowledge.

[jpinpb]

OC has a blog and featured some properties in Santa Luz. As far as tracking the area, hopefully others here will offer their knowledge.

[jpinpb]

OC has a blog and featured some properties in Santa Luz. As far as tracking the area, hopefully others here will offer their knowledge.

[jpinpb]

OC has a blog and featured some properties in Santa Luz. As far as tracking the area, hopefully others here will offer their knowledge.

[EconProf]

Santaluz offers great ambience, very low density, and famously tough CC&Rs and building restrictions (still a lot of 1 – 2 acre lots for sale).
It has suffered about a 20% fall off the peak, which was about 2005-6.
The big 5,000 – 6,000 s.f. houses have fallen the most; the little one-story casitas of 2100 – 2400 s.f. the least. The latter appeal to empty nesters and down-sizers who want the great atmosphere but not the 5-6 bedrooms.
Not much shopping nearby, but isolation and gated community aspect appeals to many.

[EconProf]

Santaluz offers great ambience, very low density, and famously tough CC&Rs and building restrictions (still a lot of 1 – 2 acre lots for sale).
It has suffered about a 20% fall off the peak, which was about 2005-6.
The big 5,000 – 6,000 s.f. houses have fallen the most; the little one-story casitas of 2100 – 2400 s.f. the least. The latter appeal to empty nesters and down-sizers who want the great atmosphere but not the 5-6 bedrooms.
Not much shopping nearby, but isolation and gated community aspect appeals to many.

[EconProf]

Santaluz offers great ambience, very low density, and famously tough CC&Rs and building restrictions (still a lot of 1 – 2 acre lots for sale).
It has suffered about a 20% fall off the peak, which was about 2005-6.
The big 5,000 – 6,000 s.f. houses have fallen the most; the little one-story casitas of 2100 – 2400 s.f. the least. The latter appeal to empty nesters and down-sizers who want the great atmosphere but not the 5-6 bedrooms.
Not much shopping nearby, but isolation and gated community aspect appeals to many.

[EconProf]

Santaluz offers great ambience, very low density, and famously tough CC&Rs and building restrictions (still a lot of 1 – 2 acre lots for sale).
It has suffered about a 20% fall off the peak, which was about 2005-6.
The big 5,000 – 6,000 s.f. houses have fallen the most; the little one-story casitas of 2100 – 2400 s.f. the least. The latter appeal to empty nesters and down-sizers who want the great atmosphere but not the 5-6 bedrooms.
Not much shopping nearby, but isolation and gated community aspect appeals to many.

[EconProf]

Santaluz offers great ambience, very low density, and famously tough CC&Rs and building restrictions (still a lot of 1 – 2 acre lots for sale).
It has suffered about a 20% fall off the peak, which was about 2005-6.
The big 5,000 – 6,000 s.f. houses have fallen the most; the little one-story casitas of 2100 – 2400 s.f. the least. The latter appeal to empty nesters and down-sizers who want the great atmosphere but not the 5-6 bedrooms.
Not much shopping nearby, but isolation and gated community aspect appeals to many.

[SD Realtor]

I believe that these two communities are primed for substantial depreciation as we move forward. To be specific there were a heck of alot of brokers and realtors who bought homes in Santa Luz. Tell your friend to be patient and he may get some smoking deals… He just needs to wait. I think these are the sorts of homes that will see a big leg down in the next 2 years or sooner. My guess…we could see another 20% or more over 2 years for some of them.

[SD Realtor]

I believe that these two communities are primed for substantial depreciation as we move forward. To be specific there were a heck of alot of brokers and realtors who bought homes in Santa Luz. Tell your friend to be patient and he may get some smoking deals… He just needs to wait. I think these are the sorts of homes that will see a big leg down in the next 2 years or sooner. My guess…we could see another 20% or more over 2 years for some of them.

[SD Realtor]

I believe that these two communities are primed for substantial depreciation as we move forward. To be specific there were a heck of alot of brokers and realtors who bought homes in Santa Luz. Tell your friend to be patient and he may get some smoking deals… He just needs to wait. I think these are the sorts of homes that will see a big leg down in the next 2 years or sooner. My guess…we could see another 20% or more over 2 years for some of them.

[SD Realtor]

I believe that these two communities are primed for substantial depreciation as we move forward. To be specific there were a heck of alot of brokers and realtors who bought homes in Santa Luz. Tell your friend to be patient and he may get some smoking deals… He just needs to wait. I think these are the sorts of homes that will see a big leg down in the next 2 years or sooner. My guess…we could see another 20% or more over 2 years for some of them.

[Author]

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