Future of Santa Luz – 92127?

[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

[kcal09]

[quote=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 ?[/quote]

2 years laater your prediction has come true-20% decline and still counting….

[kcal09]

[quote=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 ?[/quote]

2 years laater your prediction has come true-20% decline and still counting….

[kcal09]

[quote=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 ?[/quote]

2 years laater your prediction has come true-20% decline and still counting….

[kcal09]

[quote=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 ?[/quote]

2 years laater your prediction has come true-20% decline and still counting….

[kcal09]

[quote=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 ?[/quote]

2 years laater your prediction has come true-20% decline and still counting….

[earlyretirement]

Good call. Yeah, there are several houses for sale there forever… I’ve seen some houses on the market there that have reduced their prices and still sitting on the market 250 days later….

[earlyretirement]

Good call. Yeah, there are several houses for sale there forever… I’ve seen some houses on the market there that have reduced their prices and still sitting on the market 250 days later….

[earlyretirement]

Good call. Yeah, there are several houses for sale there forever… I’ve seen some houses on the market there that have reduced their prices and still sitting on the market 250 days later….

[earlyretirement]

Good call. Yeah, there are several houses for sale there forever… I’ve seen some houses on the market there that have reduced their prices and still sitting on the market 250 days later….

[earlyretirement]

Good call. Yeah, there are several houses for sale there forever… I’ve seen some houses on the market there that have reduced their prices and still sitting on the market 250 days later….

[earlyretirement]

Good call. Yeah, there are several houses for sale there forever… I’ve seen some houses on the market there that have reduced their prices and still sitting on the market 250 days later….

[earlyretirement]

Good call. Yeah, there are several houses for sale there forever… I’ve seen some houses on the market there that have reduced their prices and still sitting on the market 250 days later….

[earlyretirement]

Good call. Yeah, there are several houses for sale there forever… I’ve seen some houses on the market there that have reduced their prices and still sitting on the market 250 days later….

[earlyretirement]

Good call. Yeah, there are several houses for sale there forever… I’ve seen some houses on the market there that have reduced their prices and still sitting on the market 250 days later….

[Author]

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