FYI: Current “deal” in Derby Hills, Carmel Valley

[San Diego Native]

I found this forum a few months ago, when looking for information to pass along to friends who were planning to move to San Diego. This thread is particularly interesting. I honestly can’t believe what people are willing to pay for tract homes!!

Everyone in both my family and my wife’s family are from San Diego–most of us–now in our 40’s–live in Sunset Cliffs, La Jolla, Del Mar and Carlsbad–and we all paid in the very low six figures for our homes. Some family members are long-time San Diego builders, and even they can’t believe the run-up in pricing for what you get. Guess everyone discovered our little paradise.

[San Diego Native]

I found this forum a few months ago, when looking for information to pass along to friends who were planning to move to San Diego. This thread is particularly interesting. I honestly can’t believe what people are willing to pay for tract homes!!

Everyone in both my family and my wife’s family are from San Diego–most of us–now in our 40’s–live in Sunset Cliffs, La Jolla, Del Mar and Carlsbad–and we all paid in the very low six figures for our homes. Some family members are long-time San Diego builders, and even they can’t believe the run-up in pricing for what you get. Guess everyone discovered our little paradise.

[San Diego Native]

I found this forum a few months ago, when looking for information to pass along to friends who were planning to move to San Diego. This thread is particularly interesting. I honestly can’t believe what people are willing to pay for tract homes!!

Everyone in both my family and my wife’s family are from San Diego–most of us–now in our 40’s–live in Sunset Cliffs, La Jolla, Del Mar and Carlsbad–and we all paid in the very low six figures for our homes. Some family members are long-time San Diego builders, and even they can’t believe the run-up in pricing for what you get. Guess everyone discovered our little paradise.

[San Diego Native]

I found this forum a few months ago, when looking for information to pass along to friends who were planning to move to San Diego. This thread is particularly interesting. I honestly can’t believe what people are willing to pay for tract homes!!

Everyone in both my family and my wife’s family are from San Diego–most of us–now in our 40’s–live in Sunset Cliffs, La Jolla, Del Mar and Carlsbad–and we all paid in the very low six figures for our homes. Some family members are long-time San Diego builders, and even they can’t believe the run-up in pricing for what you get. Guess everyone discovered our little paradise.

[Coronita]

San Diego Native,

 

It's really a warped perception imho. $1million isn't really $1million anymore. I challenge anyone in their 30ies right now to think $1million is all they will need for retirement. It's absurd to think that way, especially as the dollar continues down it's death spiral, increasing health costs, and general inflation. I'm not even worried about social security, because the problems with our health care system is much worse. Granted home prices are inflated quite a bit. But even outside of home prices, dollar doesn't go very far this much. What strikes me as interesting is that if home prices do correct say 50%, I can't imagine why well to do foreign investors wouldn't buy real estate in the states. I doubt such buying would really prop real estate, but it wouldn't surprise me if several folks end up pay rent to folks overseas. Dollar's decline plus a steep drop in home prices will make things for non-dollar currencies look so cheap. 

 

But to put it in perspective. If you're in you 40's, my parents would think you paid ridiculously for your home(s) too. Back then (when the dinosaurs roamed the earth), beach front property weren't even six figures, or were only close to six figures. Of course, then, they were playing 13-15% interest rates too, but that's another story.

 

[Coronita]

San Diego Native,

 

It's really a warped perception imho. $1million isn't really $1million anymore. I challenge anyone in their 30ies right now to think $1million is all they will need for retirement. It's absurd to think that way, especially as the dollar continues down it's death spiral, increasing health costs, and general inflation. I'm not even worried about social security, because the problems with our health care system is much worse. Granted home prices are inflated quite a bit. But even outside of home prices, dollar doesn't go very far this much. What strikes me as interesting is that if home prices do correct say 50%, I can't imagine why well to do foreign investors wouldn't buy real estate in the states. I doubt such buying would really prop real estate, but it wouldn't surprise me if several folks end up pay rent to folks overseas. Dollar's decline plus a steep drop in home prices will make things for non-dollar currencies look so cheap. 

 

But to put it in perspective. If you're in you 40's, my parents would think you paid ridiculously for your home(s) too. Back then (when the dinosaurs roamed the earth), beach front property weren't even six figures, or were only close to six figures. Of course, then, they were playing 13-15% interest rates too, but that's another story.

 

[Coronita]

San Diego Native,

 

It's really a warped perception imho. $1million isn't really $1million anymore. I challenge anyone in their 30ies right now to think $1million is all they will need for retirement. It's absurd to think that way, especially as the dollar continues down it's death spiral, increasing health costs, and general inflation. I'm not even worried about social security, because the problems with our health care system is much worse. Granted home prices are inflated quite a bit. But even outside of home prices, dollar doesn't go very far this much. What strikes me as interesting is that if home prices do correct say 50%, I can't imagine why well to do foreign investors wouldn't buy real estate in the states. I doubt such buying would really prop real estate, but it wouldn't surprise me if several folks end up pay rent to folks overseas. Dollar's decline plus a steep drop in home prices will make things for non-dollar currencies look so cheap. 

 

But to put it in perspective. If you're in you 40's, my parents would think you paid ridiculously for your home(s) too. Back then (when the dinosaurs roamed the earth), beach front property weren't even six figures, or were only close to six figures. Of course, then, they were playing 13-15% interest rates too, but that's another story.

 

[Coronita]

San Diego Native,

 

It's really a warped perception imho. $1million isn't really $1million anymore. I challenge anyone in their 30ies right now to think $1million is all they will need for retirement. It's absurd to think that way, especially as the dollar continues down it's death spiral, increasing health costs, and general inflation. I'm not even worried about social security, because the problems with our health care system is much worse. Granted home prices are inflated quite a bit. But even outside of home prices, dollar doesn't go very far this much. What strikes me as interesting is that if home prices do correct say 50%, I can't imagine why well to do foreign investors wouldn't buy real estate in the states. I doubt such buying would really prop real estate, but it wouldn't surprise me if several folks end up pay rent to folks overseas. Dollar's decline plus a steep drop in home prices will make things for non-dollar currencies look so cheap. 

 

But to put it in perspective. If you're in you 40's, my parents would think you paid ridiculously for your home(s) too. Back then (when the dinosaurs roamed the earth), beach front property weren't even six figures, or were only close to six figures. Of course, then, they were playing 13-15% interest rates too, but that's another story.

 

[Alex_angel]

FLU, you only think that way because you live in San Diego. move to Alabama and you’ll see that 1 million$ is a lot of cash

[Alex_angel]

FLU, you only think that way because you live in San Diego. move to Alabama and you’ll see that 1 million$ is a lot of cash

[Alex_angel]

FLU, you only think that way because you live in San Diego. move to Alabama and you’ll see that 1 million$ is a lot of cash

[Alex_angel]

FLU, you only think that way because you live in San Diego. move to Alabama and you’ll see that 1 million$ is a lot of cash

[New_Renter]

“Just heard from a neighbor that they are listing their Foxhound Way Derby Hill Plan 1B (French Country style) in the next couple of weeks for $1.299.”

To ILoveCarmelValley:
Your neighbor may be shocked to find out that a 3476 sq. ft. Belmont on Gaylemont Ln. just closed escrow for a flat $1M right across the street from the Derby Hill development. This was a nicely upgraded, fully landscaped newer Pardee home that (IMHO) is a nicer floor plan than the Plan 1 Derby Hill. Granted that the location backed up to Carmel Mountain Rd., I don’t see how a Derby Hill Plan 1 can command a $300K premium over that. The Gaylemont Lane Belmont is a “direct comp” for your neighbor’s house, so at best, it would appear your neighbors house is worth $1.1M (give it a $100K premium for a possibly better lot location) in today’s market. It will be interesting to see if your neighbor can find a blind “knife catcher”! Good luck to him/her.

[New_Renter]

“Just heard from a neighbor that they are listing their Foxhound Way Derby Hill Plan 1B (French Country style) in the next couple of weeks for $1.299.”

To ILoveCarmelValley:
Your neighbor may be shocked to find out that a 3476 sq. ft. Belmont on Gaylemont Ln. just closed escrow for a flat $1M right across the street from the Derby Hill development. This was a nicely upgraded, fully landscaped newer Pardee home that (IMHO) is a nicer floor plan than the Plan 1 Derby Hill. Granted that the location backed up to Carmel Mountain Rd., I don’t see how a Derby Hill Plan 1 can command a $300K premium over that. The Gaylemont Lane Belmont is a “direct comp” for your neighbor’s house, so at best, it would appear your neighbors house is worth $1.1M (give it a $100K premium for a possibly better lot location) in today’s market. It will be interesting to see if your neighbor can find a blind “knife catcher”! Good luck to him/her.

[New_Renter]

“Just heard from a neighbor that they are listing their Foxhound Way Derby Hill Plan 1B (French Country style) in the next couple of weeks for $1.299.”

To ILoveCarmelValley:
Your neighbor may be shocked to find out that a 3476 sq. ft. Belmont on Gaylemont Ln. just closed escrow for a flat $1M right across the street from the Derby Hill development. This was a nicely upgraded, fully landscaped newer Pardee home that (IMHO) is a nicer floor plan than the Plan 1 Derby Hill. Granted that the location backed up to Carmel Mountain Rd., I don’t see how a Derby Hill Plan 1 can command a $300K premium over that. The Gaylemont Lane Belmont is a “direct comp” for your neighbor’s house, so at best, it would appear your neighbors house is worth $1.1M (give it a $100K premium for a possibly better lot location) in today’s market. It will be interesting to see if your neighbor can find a blind “knife catcher”! Good luck to him/her.

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