Looks like The Heights in Carmel Valley Just Dumped a lot of inventory onto the market (SD R, this one is for you)

[Coronita]

Perusing attached housing markets in Carmel Valley, I just noticed that it appears that the Apartment-> Condo Convert "The Heights" appears to have dumped a lot of units onto the market.

 

Check it out

http://sandiego.houserebate.com/search/results.asp?page=9

All the Carmel Country Road addresses are HEights units. I noticed that it appears there are a couple of other converts that recently dumped onto the market too.

For those that don't know about The Heights, here's a background

http://bubbletracking.blogspot.com/2006/09/stupid-is-as-stupid-does-in-carmel.html

Now, I actually visited this conversion complex awhile ago. Frankly, the units are pretty good for a convert. The drawback is that if you live on the upper floors, no elevators.

That said, it's still a rip off. 

 

One can conclude that for the attached market, things are going to come down a lot faster than SFH with all this inventory from condo conversions.

 

Side note: SD Realtor, fishtank lady is going to have a tough time selling at her price.

 

[Coronita]

For the search challenged…

3 pages alone are from The Heights, not to mention

other converts  from Andalucia  (MyKonos Lane addresses)

and a bunch from Airoso  (MYSTRA Pt)

 

 

6132 MYSTRA PT., San Diego
$535,000	92130	4	2.50	1572	Community Schools n/a
details	6132 MYSTRA PT., San Diego
	$535,000	92130	4	2.50	1572	Community Schools n/a
details	12372 CARMEL COUNTRY ROAD E303, San Diego
	$536,310	92130	2	2.00	1276	Community Schools n/a
details	12374 CARMEL COUNTRY ROAD H203, San Diego
	$537,300	92130	2	2.00	1276	Community Schools n/a
details	12370 CARMEL COUNTRY ROAD E209, San Diego
	$539,340	92130	2	2.00	1327	Community Schools n/a
details	12374 CARMEL COUNTRY ROAD H109, San Diego
	$539,340	92130	2	2.00	1401	Community Schools n/a
details	3967 CAMINITO DEL MAR SURF, San Diego
	$540,000-$599,876	92130	3	2.50		Community Schools n/a
details	12370 CARMEL COUNTRY ROAD E109, San Diego
	$544,390	92130	2	2.00	1327	Community Schools n/a
details	3804 FALLON CIRCLE, San Diego
	$545,000	92130	2	2.00	1240	Community Schools Map
details	12374 CARMEL COUNTRY RD. H310, San Diego
	$550,000	92130	3	2.00	1444	Community Schools n/a

 

 

12374 CARMEL COUNTRY RD. H310, San Diego
$550,000	92130	3	2.00	1444

 

 

Page 10:

 

6113 CALERA PLACE, San Diego
$550,000-$600,876	92130	3	2.50	1478	Community Schools n/a
details	3706 MYKONOS LANE 177, San Diego
	$559,900	92130	2	2.50	1231	Community Schools n/a
details	12372 CARMEL COUNTRY ROAD E309, San Diego
	$564,900	92130	2	2.00	1327	Community Schools n/a
details	3666 FALLON CIR, San Diego
	$565,000	92130	2	2.50	1401	Community Schools n/a
details	12517 EL CAMINO REAL C, San Diego
	$565,000-$585,000	92130	3	2.50	1533	Community Schools Map
details	3693 CAMINITO CIELO DEL MAR, San Diego
	$565,000	92130	3	2.50	1333	Community Schools Map
details	12370 CARMEL COUNTRY ROAD E207, San Diego
	$567,950	92130	2	2.00	1370	Community Schools n/a
details	13038 CADENCIA, SAN DIEGO
	$569,000	92130	3	2.50		Community Schools Map
details	12372 CARMEL COUNTRY ROAD F302, San Diego
	$569,900	92130	2	2.00	1401	Community Schools Map
details	12372 CARMEL COUNTRY ROAD F307, San Diego
	$569,900	92130	2	2.00	1401	Community Schools Map

 Page 11

12374 CARMEL COUNTRY ROAD H302, San Diego
$569,900	92130	2	2.00	1401	Community Schools Map
details	12370 CARMEL COUNTRY ROAD E302, San Diego
	$570,651	92130	2	2.00	1401	Community Schools n/a
details	12723 VIA NIEVE, San Diego
	$585,000-$635,876	92130	3	2.50	1532	Community Schools Map
details	13032 CADENCIA PL, San Diego
	$595,000-$635,000	92130	3	2.50	1563	Community Schools Map
details	6128 GALANTE PL, San Diego
	$599,000	92130	4	2.50	1572	Community Schools Map
details	3992 VIA HOLGURA, San Diego
	$599,900	92130	3	2.50	1433	Community Schools n/a
details	13504 JADESTONE WAY, San Diego
	$599,900	92130	2	3.00	1428	Community Schools n/a
details	12988 CARMEL CREEK ROAD 172, San Diego
	$600,000-$635,000	92130	3	2.50	1432	Community Schools Map
details	12370 CARMEL COUNTRY ROAD E210, San Diego
	$607,461	92130	2	3.00	1444	Community Schools n/a
details	13046 LAMIA POINT, San Diego
	$615,000	92130	3	2.50	1563	Community Schools

 

 

[fsbo]

well, the inventory for 92130 condos has been there, around ~110 in market (info from sdlookup.com), no significan changes. As of price, it seems the andalucia just reduced ~10% on 10/2 (again from sdlookup.com). Is it a close out sale, any insight, sdr?

[SD Realtor]

For FLU –

No warranties on the accuracy of this information. This may not be all inclusive but it is what I found for NOD/NOT/REO recorded from 8/2/07 to now in 92130. If other people have more 92130 recordings in that timeframe for NOD/NOT/REO please do not be afraid to post them.

Also I am not going to include the unit number for attached homes.

NODs

9/13 12620 Carmel Country Rd
9/12 12253 Carmel Vista Rd
9/12 12283 Carmel Vista Rd
9/18 12560 Carmel Creek Rd
8/20 6113 Calera Pl
9/5 11353 E San Rapheal
8/13 12519 Montellano Terrace
8/10 4839 Tarantella Lane
8/28 4781 Caminito Borrego
8/30 3605 Bernwood Pl
9/12 12618 Caminito Radiante
9/17 5850 Aster Meadows Pl
9/20 12674 Carmel Country Rd
9/20 4779 Caminito Impersado
8/6 4889 Ruette De Mer
8/7 12615 El Camino Real!!
8/12 11365 E San Rafeal

NOT

9/10 3771 Torryview Ct (FLU a neighbor?) I viewed this home
9/5 11362 W San Rafeal (Saw this one to)
8/7 12693 Calle De La Sienna
8/1 3540 Caminito El Rincon
9/20 12620 Carmel Country
9/6 3877 Pell Pl
9/19 12624 Carmel Country

REO

9/7 14236 Caminito Vistana
9/7 12582 Manifesto Pl
8/27 4057 Carmel View Rd
9/6 12675 Futura St
8/20 12791 Briarcrest Pl

[Coronita]

For FLU –

No warranties on the accuracy of this information. This may not be all inclusive but it is what I found for NOD/NOT/REO recorded from 8/2/07 to now in 92130. If other people have more 92130 recordings in that timeframe for NOD/NOT/REO please do not be afraid to post them.

Also I am not going to include the unit number for attached homes.

NODs

9/13 12620 Carmel Country Rd
9/12 12253 Carmel Vista Rd
9/12 12283 Carmel Vista Rd
9/18 12560 Carmel Creek Rd
8/20 6113 Calera Pl
9/5 11353 E San Rapheal
8/13 12519 Montellano Terrace
8/10 4839 Tarantella Lane
8/28 4781 Caminito Borrego
8/30 3605 Bernwood Pl
9/12 12618 Caminito Radiante
9/17 5850 Aster Meadows Pl
9/20 12674 Carmel Country Rd
9/20 4779 Caminito Impersado
8/6 4889 Ruette De Mer
8/7 12615 El Camino Real!!
8/12 11365 E San Rafeal

NOT

9/10 3771 Torryview Ct (FLU a neighbor?) I viewed this home
9/5 11362 W San Rafeal (Saw this one to)
8/7 12693 Calle De La Sienna
8/1 3540 Caminito El Rincon
9/20 12620 Carmel Country
9/6 3877 Pell Pl
9/19 12624 Carmel Country

REO

9/7 14236 Caminito Vistana
9/7 12582 Manifesto Pl
8/27 4057 Carmel View Rd
9/6 12675 Futura St
8/20 12791 Briarcrest Pl

 

Thank you sir!. I will be putting this into my monitors. BTW

1) No I don't live on Torryview. I personally think that development is a little weird.

2) 12615 El Camino Real is a Crest unit that went pending few weeks ago i think. Asking is $565k if I remember. That's like $70k below peak. This unit though faces the street (Elijah, I think).

3) San Rafael has an expensive HOA ($270?/month?)

4) I don't like Palacio (Ruette De Mer) Think there is an elevation problem==> mold/mildew, also too close to 56 ramp.

[SD Realtor]

Cool deal… yeah these are only the recordings so indeed several of them may have already gone pending.

Your strategy for waiting until something pencils out is a good idea. Wait until it pencils out, get a rental or two and treat it like another component of your IRA… Your patience will pay off…

SD Realtor

[ocrenter]

just counting exclusively The Heights, there’s 23 listed currently.

so just how many have sold over the last year? (wow, it’s been exactly a year since my post on the subject). Vintage BMIT! =)

no price drops yet, as Carmel Valley is, of course, different…

[XBoxBoy]

OCRenter, you are confused.

It isn’t Carmel Valley that’s different, it’s La Jolla that’s different and isn’t going to come down in price. I know so, because my realtor told me so.

XBoxBoy

[SD Realtor]

FLU I was looking at the NOD/NOT/REO report for the past month for 92130. Sooooooooo many attached homes are in trouble there. Fish tank lady is not the only one in trouble.

Good find my friend.

SD Realtor

[Coronita]

SD R,

 

Fish Tank lady isn't going to be happy with this one. Look what I just found.

http://sandiego.houserebate.com/search/homeview.asp?id=1667011&p3=-1&ix=47

 

ty:	Carmel Valley
Cross Street:	El Camino Real
Map Code:	1207 /F 7

MLS #:	071064716
Original List Price:	$499,900
Pictures:	8 available
Subdivision:	Crest At Del Mar
Complex:	Crest At Del Mar
Zip:	92130
Community:	CARMEL VALLEY

 

I would also say that a lot of the Heights units are about $100k overpriced relative to comparable units right now.

 

[Raybyrnes]

Believe the Heights were developed by Hammer. Thought that these were very nice. While visiting Drew Brees was going through the properties. I believe that his brother is on the investment side.

[SD Realtor]

Tomorrow if I have time I will write out the current NODs of attached homes in 92130 from this month. When I first talked to fish tank lady she punted me when I told her I didn’t think she would get more then 465k for her place…That was a way overly generous evaluation. I would absolutely agree with your assessment.

Remember though… fishtank lady has serious feng shui and she does believe a rapid turnaround in 08…

SD Realtor

[Coronita]

Tomorrow if I have time I will write out the current NODs of attached homes in 92130 from this month. When I first talked to fish tank lady she punted me when I told her I didn't think she would get more then 465k for her place…That was a way overly generous evaluation. I would absolutely agree with your assessment.

Thanks SDR. If things really crater to the high $300k for a 3/2, I might be tempted again to pick up a place again. Fundamentally, a lot of these town homes are pretty nice as rentals. I'd be curious to see a list of NODs on attached homes in CV. 

[4plexowner]

Well a little birdy told me that Pt Loma was the ONLY area that was different this time

Not only that, the birdy also said it wouldn’t fly over Carmel Valley except to take a healthy dump …

[Author]

Posts