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November 13, 2007 at 9:13 AM #99068November 13, 2007 at 12:11 PM #99049
San Diego Native
ParticipantFLU
To each his own.
If you like tract homes, great. We don’t.
Plus, we love an ocean view. We bought our homes when we were in our twenties and paid cash.You are SO right about the retirement scenario. We want at least $2MM in savings, with the house paid off–almost there. Even for dinosaurs in our 40’s that’s a pretty good nestegg.
November 13, 2007 at 12:11 PM #99109ParticipantFLU
To each his own.
If you like tract homes, great. We don’t.
Plus, we love an ocean view. We bought our homes when we were in our twenties and paid cash.You are SO right about the retirement scenario. We want at least $2MM in savings, with the house paid off–almost there. Even for dinosaurs in our 40’s that’s a pretty good nestegg.
November 13, 2007 at 12:11 PM #99127ParticipantFLU
To each his own.
If you like tract homes, great. We don’t.
Plus, we love an ocean view. We bought our homes when we were in our twenties and paid cash.You are SO right about the retirement scenario. We want at least $2MM in savings, with the house paid off–almost there. Even for dinosaurs in our 40’s that’s a pretty good nestegg.
November 13, 2007 at 12:11 PM #99132ParticipantFLU
To each his own.
If you like tract homes, great. We don’t.
Plus, we love an ocean view. We bought our homes when we were in our twenties and paid cash.You are SO right about the retirement scenario. We want at least $2MM in savings, with the house paid off–almost there. Even for dinosaurs in our 40’s that’s a pretty good nestegg.
November 13, 2007 at 12:31 PM #99062[email protected]
ParticipantI agree that the $1.299 is a bit ambitious but I think the Derby Hill house is worth at least $200K more than the Gaylemont comp. The busy road is a HUGE negative and Gaylemont had barely any landscaping, very average kitchen, and next to no upgrades. How do you get the closing prices on recent sales? The data I see is usually a couple of months lagged.
November 13, 2007 at 12:31 PM #99122ParticipantI agree that the $1.299 is a bit ambitious but I think the Derby Hill house is worth at least $200K more than the Gaylemont comp. The busy road is a HUGE negative and Gaylemont had barely any landscaping, very average kitchen, and next to no upgrades. How do you get the closing prices on recent sales? The data I see is usually a couple of months lagged.
November 13, 2007 at 12:31 PM #99139ParticipantI agree that the $1.299 is a bit ambitious but I think the Derby Hill house is worth at least $200K more than the Gaylemont comp. The busy road is a HUGE negative and Gaylemont had barely any landscaping, very average kitchen, and next to no upgrades. How do you get the closing prices on recent sales? The data I see is usually a couple of months lagged.
November 13, 2007 at 12:31 PM #99144ParticipantI agree that the $1.299 is a bit ambitious but I think the Derby Hill house is worth at least $200K more than the Gaylemont comp. The busy road is a HUGE negative and Gaylemont had barely any landscaping, very average kitchen, and next to no upgrades. How do you get the closing prices on recent sales? The data I see is usually a couple of months lagged.
November 13, 2007 at 1:27 PM #99074New_Renter
ParticipantThe quickest way to find it is on the San Diego Daily Transcript (expensive to subscribe). I found it on a Google search for the address. Here is what it turned up:
San Diego Source > Real Estate07-0706942 — The house at 10586 Gaylemont Ln, San Diego, CA 92130, was sold on 11/06/07 at a tax value of $1000000. …
The problem, ILoveCarmelValley, is that we’re observing a moving target. Yes, maybe earlier this year $1.299 would be a decent listing price, but your neighbor is bringing their house on the market months after the Gaylemont house went on, and the market is just getting progressively worse. Not only will they have a $1M similar comp to deal with, but the bad seasonality (Nov/Dec/Jan).
Another Belmont (same plan as Gaylemont) recently came the market for $1.385 at 5560 Havenridge Way. It’s also backed up to Carmel Mountain Road. It’s nicely upgraded (incredible kitchen), but no way is it worth an extra $385K over the Gaylemont house. This seller has a serious reality check coming as well (IMHO).
If people want to sell their house in this market they need to price realistically for today’s market! Nearly everything I’m looking at in CV is priced $200K-$300K over market, and they’re just sitting there rotting away for the most part.
Again, I wish your neighbor luck. Maybe you can convince them to list for $1.199M (you did mention $1.2M in your post)? They’ll have a much better chance of getting it sold (again, IMHO).
Disclaimer: I’m not a real estate professional or market analyst, just an interested observer in CV!
November 13, 2007 at 1:27 PM #99133ParticipantThe quickest way to find it is on the San Diego Daily Transcript (expensive to subscribe). I found it on a Google search for the address. Here is what it turned up:
San Diego Source > Real Estate07-0706942 — The house at 10586 Gaylemont Ln, San Diego, CA 92130, was sold on 11/06/07 at a tax value of $1000000. …
The problem, ILoveCarmelValley, is that we’re observing a moving target. Yes, maybe earlier this year $1.299 would be a decent listing price, but your neighbor is bringing their house on the market months after the Gaylemont house went on, and the market is just getting progressively worse. Not only will they have a $1M similar comp to deal with, but the bad seasonality (Nov/Dec/Jan).
Another Belmont (same plan as Gaylemont) recently came the market for $1.385 at 5560 Havenridge Way. It’s also backed up to Carmel Mountain Road. It’s nicely upgraded (incredible kitchen), but no way is it worth an extra $385K over the Gaylemont house. This seller has a serious reality check coming as well (IMHO).
If people want to sell their house in this market they need to price realistically for today’s market! Nearly everything I’m looking at in CV is priced $200K-$300K over market, and they’re just sitting there rotting away for the most part.
Again, I wish your neighbor luck. Maybe you can convince them to list for $1.199M (you did mention $1.2M in your post)? They’ll have a much better chance of getting it sold (again, IMHO).
Disclaimer: I’m not a real estate professional or market analyst, just an interested observer in CV!
November 13, 2007 at 1:27 PM #99151ParticipantThe quickest way to find it is on the San Diego Daily Transcript (expensive to subscribe). I found it on a Google search for the address. Here is what it turned up:
San Diego Source > Real Estate07-0706942 — The house at 10586 Gaylemont Ln, San Diego, CA 92130, was sold on 11/06/07 at a tax value of $1000000. …
The problem, ILoveCarmelValley, is that we’re observing a moving target. Yes, maybe earlier this year $1.299 would be a decent listing price, but your neighbor is bringing their house on the market months after the Gaylemont house went on, and the market is just getting progressively worse. Not only will they have a $1M similar comp to deal with, but the bad seasonality (Nov/Dec/Jan).
Another Belmont (same plan as Gaylemont) recently came the market for $1.385 at 5560 Havenridge Way. It’s also backed up to Carmel Mountain Road. It’s nicely upgraded (incredible kitchen), but no way is it worth an extra $385K over the Gaylemont house. This seller has a serious reality check coming as well (IMHO).
If people want to sell their house in this market they need to price realistically for today’s market! Nearly everything I’m looking at in CV is priced $200K-$300K over market, and they’re just sitting there rotting away for the most part.
Again, I wish your neighbor luck. Maybe you can convince them to list for $1.199M (you did mention $1.2M in your post)? They’ll have a much better chance of getting it sold (again, IMHO).
Disclaimer: I’m not a real estate professional or market analyst, just an interested observer in CV!
November 13, 2007 at 1:27 PM #99156ParticipantThe quickest way to find it is on the San Diego Daily Transcript (expensive to subscribe). I found it on a Google search for the address. Here is what it turned up:
San Diego Source > Real Estate07-0706942 — The house at 10586 Gaylemont Ln, San Diego, CA 92130, was sold on 11/06/07 at a tax value of $1000000. …
The problem, ILoveCarmelValley, is that we’re observing a moving target. Yes, maybe earlier this year $1.299 would be a decent listing price, but your neighbor is bringing their house on the market months after the Gaylemont house went on, and the market is just getting progressively worse. Not only will they have a $1M similar comp to deal with, but the bad seasonality (Nov/Dec/Jan).
Another Belmont (same plan as Gaylemont) recently came the market for $1.385 at 5560 Havenridge Way. It’s also backed up to Carmel Mountain Road. It’s nicely upgraded (incredible kitchen), but no way is it worth an extra $385K over the Gaylemont house. This seller has a serious reality check coming as well (IMHO).
If people want to sell their house in this market they need to price realistically for today’s market! Nearly everything I’m looking at in CV is priced $200K-$300K over market, and they’re just sitting there rotting away for the most part.
Again, I wish your neighbor luck. Maybe you can convince them to list for $1.199M (you did mention $1.2M in your post)? They’ll have a much better chance of getting it sold (again, IMHO).
Disclaimer: I’m not a real estate professional or market analyst, just an interested observer in CV!
November 13, 2007 at 1:31 PM #99082patientlywaiting
ParticipantNearly everything I'm looking at in CV is priced $200K-$300K over market, and they're just sitting there rotting away for the most part.
That is absolutely correct. Wait 'til the fall of 2008 and you'll still prices drop like flies.
November 13, 2007 at 1:31 PM #99142ParticipantNearly everything I'm looking at in CV is priced $200K-$300K over market, and they're just sitting there rotting away for the most part.
That is absolutely correct. Wait 'til the fall of 2008 and you'll still prices drop like flies.
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