La Costa Green deals?

[SD Realtor]

Hi NYB

I can give you some information on Helenite and Citrine. These homes are in the Baelaras subdivision. The builder was Pulte. Helenite is a little bit more of a desireable street then Citrine. The views from the west side of Helenite are okay but not fantastic. They pretty much look over the top of the homes on Tanzanite. The homes on Tanzanite look over the golf course. You really do not start getting really nice views (ocean) until you cross over onto the other side of Alicante and go up onto Amber Lane.

The community is okay as well. I had a previous listing on Helenite last year. It was a pretty sad story because the sellers simply did not price right. They were friends of friends and as much as I tried to convince them about pricing they did not listen. They chased the market all the way down and are now going through the bankruptcy process. The home will be liquidated soon and it is a very nice place considering all the work they did on it. Thier kids both went to LCC high school. The school issues are something to consider. I know for a fact that these kids went to LCC and my clients told me that all kids in Baelaras get to go to La Costa schools BUT I have heard other people say they have to go to San Marcos schools.

Between the HOA and Mello Roos you will pay a little over 550 a month. That does NOT include a golf membership. However it does cover tennis courts and other club ammenities.

Overall my former clients really liked living there.

The prices have definitely come down there but yes I believe they will go lower. Lots of purchases made in 2006 and there have been a few foreclosures there last year.

Baelaras is just one of a few communities in La Costa Greens.

[nybuyer]

SDR

Thanks for your insight. Do you think that prices can fall much lower than $175/sf? Seems like that would be almost below replacement value of the home…In terms of the floorplans, I like the one on Ivory Place (the exterior is the nicest one also in my opinion)…I can’t believe the folks at 2252 Ivory Pl think they can get anywhere near their $1.399mil asking price…

On the listings on Helenite/Citrine, what do you think would be a reasonable offer? Something in the low $700s?

[nybuyer]

SDR

Thanks for your insight. Do you think that prices can fall much lower than $175/sf? Seems like that would be almost below replacement value of the home…In terms of the floorplans, I like the one on Ivory Place (the exterior is the nicest one also in my opinion)…I can’t believe the folks at 2252 Ivory Pl think they can get anywhere near their $1.399mil asking price…

On the listings on Helenite/Citrine, what do you think would be a reasonable offer? Something in the low $700s?

[nybuyer]

SDR

Thanks for your insight. Do you think that prices can fall much lower than $175/sf? Seems like that would be almost below replacement value of the home…In terms of the floorplans, I like the one on Ivory Place (the exterior is the nicest one also in my opinion)…I can’t believe the folks at 2252 Ivory Pl think they can get anywhere near their $1.399mil asking price…

On the listings on Helenite/Citrine, what do you think would be a reasonable offer? Something in the low $700s?

[nybuyer]

SDR

Thanks for your insight. Do you think that prices can fall much lower than $175/sf? Seems like that would be almost below replacement value of the home…In terms of the floorplans, I like the one on Ivory Place (the exterior is the nicest one also in my opinion)…I can’t believe the folks at 2252 Ivory Pl think they can get anywhere near their $1.399mil asking price…

On the listings on Helenite/Citrine, what do you think would be a reasonable offer? Something in the low $700s?

[nybuyer]

SDR

Thanks for your insight. Do you think that prices can fall much lower than $175/sf? Seems like that would be almost below replacement value of the home…In terms of the floorplans, I like the one on Ivory Place (the exterior is the nicest one also in my opinion)…I can’t believe the folks at 2252 Ivory Pl think they can get anywhere near their $1.399mil asking price…

On the listings on Helenite/Citrine, what do you think would be a reasonable offer? Something in the low $700s?

[SD Realtor]

NYB

I can tell you absolutely 100% from personal experience that at least in the case of my previous listing, people there are in denial… bigtime denial. In that case my previous client LITERALLY went down with the ship. There were cases when we had offers come in below list and they would not accept them.

These guys on Ivory are a perfect example. Look they have been on the market over 260 days. The bought it for 1.348M and it “appears” that they are sitting on 1.2M in mortgage debt. Yet when they came on the market they listed the home for 1.895. Now they have been chasing the market down. It would not surprise me if they had an offer or two along the way…

My point is that you may consider your offer reasonable but it is likely that the sellers will not. In this subdivision it may be a better strategy to wait for the home to go to foreclosure but hell, shooting in a short sale offer cannot hurt. On listings on Helenite and Citrine, no way the low 700s get a sniff. The last foreclosure on Citrine went for 890k and that closed on 4/2/09. Granted it was the only sale in all of 2009 there and there are 4 other actives. Dennis DeSousa is listing the REO on Citrine right now at 849k. He will have that one in escrow pretty soon.

If you can wait out the decline some more I do feel pricing will come down harder in Baelaras. Could you see 175 ppsf…. I think you may have a few homes there in that range but they will be pretty harsh inside with no landscaping. I don’t see that happening this year though. Perhaps in the winter or next year if unemployment keeps up.

[SD Realtor]

NYB

I can tell you absolutely 100% from personal experience that at least in the case of my previous listing, people there are in denial… bigtime denial. In that case my previous client LITERALLY went down with the ship. There were cases when we had offers come in below list and they would not accept them.

These guys on Ivory are a perfect example. Look they have been on the market over 260 days. The bought it for 1.348M and it “appears” that they are sitting on 1.2M in mortgage debt. Yet when they came on the market they listed the home for 1.895. Now they have been chasing the market down. It would not surprise me if they had an offer or two along the way…

My point is that you may consider your offer reasonable but it is likely that the sellers will not. In this subdivision it may be a better strategy to wait for the home to go to foreclosure but hell, shooting in a short sale offer cannot hurt. On listings on Helenite and Citrine, no way the low 700s get a sniff. The last foreclosure on Citrine went for 890k and that closed on 4/2/09. Granted it was the only sale in all of 2009 there and there are 4 other actives. Dennis DeSousa is listing the REO on Citrine right now at 849k. He will have that one in escrow pretty soon.

If you can wait out the decline some more I do feel pricing will come down harder in Baelaras. Could you see 175 ppsf…. I think you may have a few homes there in that range but they will be pretty harsh inside with no landscaping. I don’t see that happening this year though. Perhaps in the winter or next year if unemployment keeps up.

[SD Realtor]

NYB

I can tell you absolutely 100% from personal experience that at least in the case of my previous listing, people there are in denial… bigtime denial. In that case my previous client LITERALLY went down with the ship. There were cases when we had offers come in below list and they would not accept them.

These guys on Ivory are a perfect example. Look they have been on the market over 260 days. The bought it for 1.348M and it “appears” that they are sitting on 1.2M in mortgage debt. Yet when they came on the market they listed the home for 1.895. Now they have been chasing the market down. It would not surprise me if they had an offer or two along the way…

My point is that you may consider your offer reasonable but it is likely that the sellers will not. In this subdivision it may be a better strategy to wait for the home to go to foreclosure but hell, shooting in a short sale offer cannot hurt. On listings on Helenite and Citrine, no way the low 700s get a sniff. The last foreclosure on Citrine went for 890k and that closed on 4/2/09. Granted it was the only sale in all of 2009 there and there are 4 other actives. Dennis DeSousa is listing the REO on Citrine right now at 849k. He will have that one in escrow pretty soon.

If you can wait out the decline some more I do feel pricing will come down harder in Baelaras. Could you see 175 ppsf…. I think you may have a few homes there in that range but they will be pretty harsh inside with no landscaping. I don’t see that happening this year though. Perhaps in the winter or next year if unemployment keeps up.

[SD Realtor]

NYB

I can tell you absolutely 100% from personal experience that at least in the case of my previous listing, people there are in denial… bigtime denial. In that case my previous client LITERALLY went down with the ship. There were cases when we had offers come in below list and they would not accept them.

These guys on Ivory are a perfect example. Look they have been on the market over 260 days. The bought it for 1.348M and it “appears” that they are sitting on 1.2M in mortgage debt. Yet when they came on the market they listed the home for 1.895. Now they have been chasing the market down. It would not surprise me if they had an offer or two along the way…

My point is that you may consider your offer reasonable but it is likely that the sellers will not. In this subdivision it may be a better strategy to wait for the home to go to foreclosure but hell, shooting in a short sale offer cannot hurt. On listings on Helenite and Citrine, no way the low 700s get a sniff. The last foreclosure on Citrine went for 890k and that closed on 4/2/09. Granted it was the only sale in all of 2009 there and there are 4 other actives. Dennis DeSousa is listing the REO on Citrine right now at 849k. He will have that one in escrow pretty soon.

If you can wait out the decline some more I do feel pricing will come down harder in Baelaras. Could you see 175 ppsf…. I think you may have a few homes there in that range but they will be pretty harsh inside with no landscaping. I don’t see that happening this year though. Perhaps in the winter or next year if unemployment keeps up.

[SD Realtor]

NYB

I can tell you absolutely 100% from personal experience that at least in the case of my previous listing, people there are in denial… bigtime denial. In that case my previous client LITERALLY went down with the ship. There were cases when we had offers come in below list and they would not accept them.

These guys on Ivory are a perfect example. Look they have been on the market over 260 days. The bought it for 1.348M and it “appears” that they are sitting on 1.2M in mortgage debt. Yet when they came on the market they listed the home for 1.895. Now they have been chasing the market down. It would not surprise me if they had an offer or two along the way…

My point is that you may consider your offer reasonable but it is likely that the sellers will not. In this subdivision it may be a better strategy to wait for the home to go to foreclosure but hell, shooting in a short sale offer cannot hurt. On listings on Helenite and Citrine, no way the low 700s get a sniff. The last foreclosure on Citrine went for 890k and that closed on 4/2/09. Granted it was the only sale in all of 2009 there and there are 4 other actives. Dennis DeSousa is listing the REO on Citrine right now at 849k. He will have that one in escrow pretty soon.

If you can wait out the decline some more I do feel pricing will come down harder in Baelaras. Could you see 175 ppsf…. I think you may have a few homes there in that range but they will be pretty harsh inside with no landscaping. I don’t see that happening this year though. Perhaps in the winter or next year if unemployment keeps up.

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