Future of Santa Luz – 92127?

[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.

[Eugene]

Santaluz is way overpriced. It’s not even at 2003 pricing yet. Compared with its direct competitors Del Sur to the north and Park Village to the south, it’s a lot more expensive, but you don’t get that much more for your money.
Losing 20% over 2 years is not out of the realm of possibility.

Of all the high-end communities in North County, Santaluz is the one most likely to experience a crash landing. This crash landing is already in progress:

http://www.sdlookup.com/Property-DB785678-7419_Rancho_Cabrillo_Trl_San_Diego_CA_92127

I can’t say much about the segment your friend is looking in … it all depends on viability of the market for $2.25m tract houses without land & far from the ocean. I would’ve sincerely doubted that such a market exists, but your friend is a counterexample. Why is he interested in Crosby instead of, say, this:

http://www.sdlookup.com/MLS-080072470-17437_Luna_De_Miel_Rancho_Santa_Fe_Ca_92067 ?

[Eugene]

Santaluz is way overpriced. It’s not even at 2003 pricing yet. Compared with its direct competitors Del Sur to the north and Park Village to the south, it’s a lot more expensive, but you don’t get that much more for your money.
Losing 20% over 2 years is not out of the realm of possibility.

Of all the high-end communities in North County, Santaluz is the one most likely to experience a crash landing. This crash landing is already in progress:

http://www.sdlookup.com/Property-DB785678-7419_Rancho_Cabrillo_Trl_San_Diego_CA_92127

I can’t say much about the segment your friend is looking in … it all depends on viability of the market for $2.25m tract houses without land & far from the ocean. I would’ve sincerely doubted that such a market exists, but your friend is a counterexample. Why is he interested in Crosby instead of, say, this:

http://www.sdlookup.com/MLS-080072470-17437_Luna_De_Miel_Rancho_Santa_Fe_Ca_92067 ?

[Eugene]

Santaluz is way overpriced. It’s not even at 2003 pricing yet. Compared with its direct competitors Del Sur to the north and Park Village to the south, it’s a lot more expensive, but you don’t get that much more for your money.
Losing 20% over 2 years is not out of the realm of possibility.

Of all the high-end communities in North County, Santaluz is the one most likely to experience a crash landing. This crash landing is already in progress:

http://www.sdlookup.com/Property-DB785678-7419_Rancho_Cabrillo_Trl_San_Diego_CA_92127

I can’t say much about the segment your friend is looking in … it all depends on viability of the market for $2.25m tract houses without land & far from the ocean. I would’ve sincerely doubted that such a market exists, but your friend is a counterexample. Why is he interested in Crosby instead of, say, this:

http://www.sdlookup.com/MLS-080072470-17437_Luna_De_Miel_Rancho_Santa_Fe_Ca_92067 ?

[Eugene]

Santaluz is way overpriced. It’s not even at 2003 pricing yet. Compared with its direct competitors Del Sur to the north and Park Village to the south, it’s a lot more expensive, but you don’t get that much more for your money.
Losing 20% over 2 years is not out of the realm of possibility.

Of all the high-end communities in North County, Santaluz is the one most likely to experience a crash landing. This crash landing is already in progress:

http://www.sdlookup.com/Property-DB785678-7419_Rancho_Cabrillo_Trl_San_Diego_CA_92127

I can’t say much about the segment your friend is looking in … it all depends on viability of the market for $2.25m tract houses without land & far from the ocean. I would’ve sincerely doubted that such a market exists, but your friend is a counterexample. Why is he interested in Crosby instead of, say, this:

http://www.sdlookup.com/MLS-080072470-17437_Luna_De_Miel_Rancho_Santa_Fe_Ca_92067 ?

[Eugene]

Santaluz is way overpriced. It’s not even at 2003 pricing yet. Compared with its direct competitors Del Sur to the north and Park Village to the south, it’s a lot more expensive, but you don’t get that much more for your money.
Losing 20% over 2 years is not out of the realm of possibility.

Of all the high-end communities in North County, Santaluz is the one most likely to experience a crash landing. This crash landing is already in progress:

http://www.sdlookup.com/Property-DB785678-7419_Rancho_Cabrillo_Trl_San_Diego_CA_92127

I can’t say much about the segment your friend is looking in … it all depends on viability of the market for $2.25m tract houses without land & far from the ocean. I would’ve sincerely doubted that such a market exists, but your friend is a counterexample. Why is he interested in Crosby instead of, say, this:

http://www.sdlookup.com/MLS-080072470-17437_Luna_De_Miel_Rancho_Santa_Fe_Ca_92067 ?

[San Diego RE Bear]

Thanks so much guys for the info – very helpful!!!

[San Diego RE Bear]

Thanks so much guys for the info – very helpful!!!

[San Diego RE Bear]

Thanks so much guys for the info – very helpful!!!

[San Diego RE Bear]

Thanks so much guys for the info – very helpful!!!

[San Diego RE Bear]

Thanks so much guys for the info – very helpful!!!

[San Diego RE Bear]

Hi Esmith:

You’re right, that house is gorgeous. I don’t have a lot of information on the home he is buying. I do know that it is totally custom and already about 15% less than recent (September/October) comps in the neighborhood. It’s a good deal (in an area comparison) right now and even if values fall 15% he’s fine. I’m just wondering how far people here think the area will fall over the next three years.

He may add more information later but for now thanks for the feedback – it is really helpful.

SD RE B

[San Diego RE Bear]

Hi Esmith:

You’re right, that house is gorgeous. I don’t have a lot of information on the home he is buying. I do know that it is totally custom and already about 15% less than recent (September/October) comps in the neighborhood. It’s a good deal (in an area comparison) right now and even if values fall 15% he’s fine. I’m just wondering how far people here think the area will fall over the next three years.

He may add more information later but for now thanks for the feedback – it is really helpful.

SD RE B

[San Diego RE Bear]

Hi Esmith:

You’re right, that house is gorgeous. I don’t have a lot of information on the home he is buying. I do know that it is totally custom and already about 15% less than recent (September/October) comps in the neighborhood. It’s a good deal (in an area comparison) right now and even if values fall 15% he’s fine. I’m just wondering how far people here think the area will fall over the next three years.

He may add more information later but for now thanks for the feedback – it is really helpful.

SD RE B

[San Diego RE Bear]

Hi Esmith:

You’re right, that house is gorgeous. I don’t have a lot of information on the home he is buying. I do know that it is totally custom and already about 15% less than recent (September/October) comps in the neighborhood. It’s a good deal (in an area comparison) right now and even if values fall 15% he’s fine. I’m just wondering how far people here think the area will fall over the next three years.

He may add more information later but for now thanks for the feedback – it is really helpful.

SD RE B

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