How about steeplechase area?

[lepetitangel]

Another thing:

When looking at SFHs, do you think for long-term investment purpose (>10~15-years), is it better to buy a SFH in the $800K range now or is it better to buy something in the sub/close to $1M range?

The $1M house with view seems like a much better deal than $800K in a smaller neighborhood…but I don’t know if it’s a wiser decision for long-term resale values.

For people coming into CV, is it much easier to sell $700~$800K homes or the $1M homes?

[Coronita]

[quote=lepetitangel]Yah…we were looking into these ones and I wonder why did one just sell for $810K. So confirmed this is a short-sale huh. The interior pic showed that the house is not in such a condition cosmetically inside. Also the other two that are asking for >$1M face the canyon while the short-sale property faced a neighbor.

Given this difference…flu and sdrealtor: do you think contestant 2 and 3 are asking rediculous price? I wonder if canyon view help sell faster or not.

Any thought would be greatly appreciated.[/quote]

$400/sqft+ imho for something 2600/sqft medium size home imho is ridiculous in Carmel Valley… So, yes I feel that contestant #2 totally overpaid and/or got ripped off. I mean, we’re not talking it’s del mar mesa. This is not a “professional” opinion. sdrealtor and sdr probably have more unbiased viewpoints… But I am biased, because in my mind, even at the height, $350/sqft seems about reasonable.

You know though. To be honest, just looking at SDlookup’s the inventory for homes between 800k-1million imho looks, lousy….It looks almost as bad as in 2004….

[Coronita]

[quote=lepetitangel]Yah…we were looking into these ones and I wonder why did one just sell for $810K. So confirmed this is a short-sale huh. The interior pic showed that the house is not in such a condition cosmetically inside. Also the other two that are asking for >$1M face the canyon while the short-sale property faced a neighbor.

Given this difference…flu and sdrealtor: do you think contestant 2 and 3 are asking rediculous price? I wonder if canyon view help sell faster or not.

Any thought would be greatly appreciated.[/quote]

$400/sqft+ imho for something 2600/sqft medium size home imho is ridiculous in Carmel Valley… So, yes I feel that contestant #2 totally overpaid and/or got ripped off. I mean, we’re not talking it’s del mar mesa. This is not a “professional” opinion. sdrealtor and sdr probably have more unbiased viewpoints… But I am biased, because in my mind, even at the height, $350/sqft seems about reasonable.

You know though. To be honest, just looking at SDlookup’s the inventory for homes between 800k-1million imho looks, lousy….It looks almost as bad as in 2004….

[Coronita]

[quote=lepetitangel]Yah…we were looking into these ones and I wonder why did one just sell for $810K. So confirmed this is a short-sale huh. The interior pic showed that the house is not in such a condition cosmetically inside. Also the other two that are asking for >$1M face the canyon while the short-sale property faced a neighbor.

Given this difference…flu and sdrealtor: do you think contestant 2 and 3 are asking rediculous price? I wonder if canyon view help sell faster or not.

Any thought would be greatly appreciated.[/quote]

$400/sqft+ imho for something 2600/sqft medium size home imho is ridiculous in Carmel Valley… So, yes I feel that contestant #2 totally overpaid and/or got ripped off. I mean, we’re not talking it’s del mar mesa. This is not a “professional” opinion. sdrealtor and sdr probably have more unbiased viewpoints… But I am biased, because in my mind, even at the height, $350/sqft seems about reasonable.

You know though. To be honest, just looking at SDlookup’s the inventory for homes between 800k-1million imho looks, lousy….It looks almost as bad as in 2004….

[Coronita]

[quote=lepetitangel]Yah…we were looking into these ones and I wonder why did one just sell for $810K. So confirmed this is a short-sale huh. The interior pic showed that the house is not in such a condition cosmetically inside. Also the other two that are asking for >$1M face the canyon while the short-sale property faced a neighbor.

Given this difference…flu and sdrealtor: do you think contestant 2 and 3 are asking rediculous price? I wonder if canyon view help sell faster or not.

Any thought would be greatly appreciated.[/quote]

$400/sqft+ imho for something 2600/sqft medium size home imho is ridiculous in Carmel Valley… So, yes I feel that contestant #2 totally overpaid and/or got ripped off. I mean, we’re not talking it’s del mar mesa. This is not a “professional” opinion. sdrealtor and sdr probably have more unbiased viewpoints… But I am biased, because in my mind, even at the height, $350/sqft seems about reasonable.

You know though. To be honest, just looking at SDlookup’s the inventory for homes between 800k-1million imho looks, lousy….It looks almost as bad as in 2004….

[Coronita]

[quote=lepetitangel]Yah…we were looking into these ones and I wonder why did one just sell for $810K. So confirmed this is a short-sale huh. The interior pic showed that the house is not in such a condition cosmetically inside. Also the other two that are asking for >$1M face the canyon while the short-sale property faced a neighbor.

Given this difference…flu and sdrealtor: do you think contestant 2 and 3 are asking rediculous price? I wonder if canyon view help sell faster or not.

Any thought would be greatly appreciated.[/quote]

$400/sqft+ imho for something 2600/sqft medium size home imho is ridiculous in Carmel Valley… So, yes I feel that contestant #2 totally overpaid and/or got ripped off. I mean, we’re not talking it’s del mar mesa. This is not a “professional” opinion. sdrealtor and sdr probably have more unbiased viewpoints… But I am biased, because in my mind, even at the height, $350/sqft seems about reasonable.

You know though. To be honest, just looking at SDlookup’s the inventory for homes between 800k-1million imho looks, lousy….It looks almost as bad as in 2004….

[lepetitangel]

Hi Flu what do you mean by the inventory looking lousy almost as bad as in 2004?
Do you mean that in 2004 houses were selling fast so there’re barely any good inventory left?

How much more would you pay for something that has a unobstructed canyon view compared to a standard spacious backyard/pool? How do people evaluate how much a “view” is worth?

[lepetitangel]

Hi Flu what do you mean by the inventory looking lousy almost as bad as in 2004?
Do you mean that in 2004 houses were selling fast so there’re barely any good inventory left?

How much more would you pay for something that has a unobstructed canyon view compared to a standard spacious backyard/pool? How do people evaluate how much a “view” is worth?

[lepetitangel]

Hi Flu what do you mean by the inventory looking lousy almost as bad as in 2004?
Do you mean that in 2004 houses were selling fast so there’re barely any good inventory left?

How much more would you pay for something that has a unobstructed canyon view compared to a standard spacious backyard/pool? How do people evaluate how much a “view” is worth?

[lepetitangel]

Hi Flu what do you mean by the inventory looking lousy almost as bad as in 2004?
Do you mean that in 2004 houses were selling fast so there’re barely any good inventory left?

How much more would you pay for something that has a unobstructed canyon view compared to a standard spacious backyard/pool? How do people evaluate how much a “view” is worth?

[lepetitangel]

Hi Flu what do you mean by the inventory looking lousy almost as bad as in 2004?
Do you mean that in 2004 houses were selling fast so there’re barely any good inventory left?

How much more would you pay for something that has a unobstructed canyon view compared to a standard spacious backyard/pool? How do people evaluate how much a “view” is worth?

[zk]

[quote=flu] in my mind, even at the height, $350/sqft seems about reasonable.[/quote]

The key here is, “in my mind…seems.”

$350 seems reasonable in my mind, too. But that’s not what they’re selling for. That’s not what they sold for at the height, either.

I agree that the contestant number 2 got a lot for his house. I was surpised he got that much. That does kind of seem like peak pricing. It reminds me of 5880 Great Meadow in Saratoga. It was a foreclosure for sale this summer. Nice house, about 2700 sf, big lot, on a canyon, with a pool and spa. We offered a million on it, figuring it might get a million fifty. Some joker bid $1,180,000. I’d bet the second highest bid was a hundred grand less than that.

In any case, that’s what they’re selling for right now. There’s a limited supply of canyon-backing homes, and when they come on the market, there’s people who want them and will pay for them.

The last low point came in 2009. 5001 Manor Ridge was a 2700 sf Belmont on the canyon. No upgrades, ordinary lot. Sold for $925k. You can’t find that now. So prices have definitely gone up since then. Will they go back down there? Maybe. Maybe not. Who knows, really?

[zk]

[quote=flu] in my mind, even at the height, $350/sqft seems about reasonable.[/quote]

The key here is, “in my mind…seems.”

$350 seems reasonable in my mind, too. But that’s not what they’re selling for. That’s not what they sold for at the height, either.

I agree that the contestant number 2 got a lot for his house. I was surpised he got that much. That does kind of seem like peak pricing. It reminds me of 5880 Great Meadow in Saratoga. It was a foreclosure for sale this summer. Nice house, about 2700 sf, big lot, on a canyon, with a pool and spa. We offered a million on it, figuring it might get a million fifty. Some joker bid $1,180,000. I’d bet the second highest bid was a hundred grand less than that.

In any case, that’s what they’re selling for right now. There’s a limited supply of canyon-backing homes, and when they come on the market, there’s people who want them and will pay for them.

The last low point came in 2009. 5001 Manor Ridge was a 2700 sf Belmont on the canyon. No upgrades, ordinary lot. Sold for $925k. You can’t find that now. So prices have definitely gone up since then. Will they go back down there? Maybe. Maybe not. Who knows, really?

[zk]

[quote=flu] in my mind, even at the height, $350/sqft seems about reasonable.[/quote]

The key here is, “in my mind…seems.”

$350 seems reasonable in my mind, too. But that’s not what they’re selling for. That’s not what they sold for at the height, either.

I agree that the contestant number 2 got a lot for his house. I was surpised he got that much. That does kind of seem like peak pricing. It reminds me of 5880 Great Meadow in Saratoga. It was a foreclosure for sale this summer. Nice house, about 2700 sf, big lot, on a canyon, with a pool and spa. We offered a million on it, figuring it might get a million fifty. Some joker bid $1,180,000. I’d bet the second highest bid was a hundred grand less than that.

In any case, that’s what they’re selling for right now. There’s a limited supply of canyon-backing homes, and when they come on the market, there’s people who want them and will pay for them.

The last low point came in 2009. 5001 Manor Ridge was a 2700 sf Belmont on the canyon. No upgrades, ordinary lot. Sold for $925k. You can’t find that now. So prices have definitely gone up since then. Will they go back down there? Maybe. Maybe not. Who knows, really?

[zk]

[quote=flu] in my mind, even at the height, $350/sqft seems about reasonable.[/quote]

The key here is, “in my mind…seems.”

$350 seems reasonable in my mind, too. But that’s not what they’re selling for. That’s not what they sold for at the height, either.

I agree that the contestant number 2 got a lot for his house. I was surpised he got that much. That does kind of seem like peak pricing. It reminds me of 5880 Great Meadow in Saratoga. It was a foreclosure for sale this summer. Nice house, about 2700 sf, big lot, on a canyon, with a pool and spa. We offered a million on it, figuring it might get a million fifty. Some joker bid $1,180,000. I’d bet the second highest bid was a hundred grand less than that.

In any case, that’s what they’re selling for right now. There’s a limited supply of canyon-backing homes, and when they come on the market, there’s people who want them and will pay for them.

The last low point came in 2009. 5001 Manor Ridge was a 2700 sf Belmont on the canyon. No upgrades, ordinary lot. Sold for $925k. You can’t find that now. So prices have definitely gone up since then. Will they go back down there? Maybe. Maybe not. Who knows, really?

[Author]

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