Lucera Condo – $199k

[briansd1]

Just came across a Lucera listing and did a quick search to see if there was a previous discussion.

Oh, what a difference a year makes.

http://www.sdlookup.com/Property-79731009-7190_Shoreline_Dr_6212_San_Diego_CA_92122

I predicted plentiful basic 1/1s at $150k, in “nice” areas such as UTC, Downtown, Hillcrest, Point Loma, Carmel Valley, Carlsbad, etc.. Looks like my prediction is coming true.

[briansd1]

Just came across a Lucera listing and did a quick search to see if there was a previous discussion.

Oh, what a difference a year makes.

http://www.sdlookup.com/Property-79731009-7190_Shoreline_Dr_6212_San_Diego_CA_92122

I predicted plentiful basic 1/1s at $150k, in “nice” areas such as UTC, Downtown, Hillcrest, Point Loma, Carmel Valley, Carlsbad, etc.. Looks like my prediction is coming true.

[jpinpb]

That was a good call. Took a while, but it’s happening.

[jpinpb]

That was a good call. Took a while, but it’s happening.

[jpinpb]

That was a good call. Took a while, but it’s happening.

[jpinpb]

That was a good call. Took a while, but it’s happening.

[jpinpb]

That was a good call. Took a while, but it’s happening.

[equalizer]

[quote=jpinpb]That was a good call. Took a while, but it’s happening.[/quote]

check out the 2/2 unit:
sold on 08/10/2005: $450,000
listing price now: $269,000.

HOA is so high at $343 Monthly

I did live in one of the 2/2 units 10 years ago. We did check out prices when they converted in 2004. I would say in 1999 if were sold it would have been 170K, HOA 200, but with IR at 7.75%. Just happened to drive by the place today and the park is nice across the street, seems quiet.

http://www.sdlookup.com/Property-5379548A-7190_Shoreline_Dr_6307_San_Diego_CA_92122

[equalizer]

[quote=jpinpb]That was a good call. Took a while, but it’s happening.[/quote]

check out the 2/2 unit:
sold on 08/10/2005: $450,000
listing price now: $269,000.

HOA is so high at $343 Monthly

I did live in one of the 2/2 units 10 years ago. We did check out prices when they converted in 2004. I would say in 1999 if were sold it would have been 170K, HOA 200, but with IR at 7.75%. Just happened to drive by the place today and the park is nice across the street, seems quiet.

http://www.sdlookup.com/Property-5379548A-7190_Shoreline_Dr_6307_San_Diego_CA_92122

[equalizer]

[quote=jpinpb]That was a good call. Took a while, but it’s happening.[/quote]

check out the 2/2 unit:
sold on 08/10/2005: $450,000
listing price now: $269,000.

HOA is so high at $343 Monthly

I did live in one of the 2/2 units 10 years ago. We did check out prices when they converted in 2004. I would say in 1999 if were sold it would have been 170K, HOA 200, but with IR at 7.75%. Just happened to drive by the place today and the park is nice across the street, seems quiet.

http://www.sdlookup.com/Property-5379548A-7190_Shoreline_Dr_6307_San_Diego_CA_92122

[equalizer]

[quote=jpinpb]That was a good call. Took a while, but it’s happening.[/quote]

check out the 2/2 unit:
sold on 08/10/2005: $450,000
listing price now: $269,000.

HOA is so high at $343 Monthly

I did live in one of the 2/2 units 10 years ago. We did check out prices when they converted in 2004. I would say in 1999 if were sold it would have been 170K, HOA 200, but with IR at 7.75%. Just happened to drive by the place today and the park is nice across the street, seems quiet.

http://www.sdlookup.com/Property-5379548A-7190_Shoreline_Dr_6307_San_Diego_CA_92122

[equalizer]

[quote=jpinpb]That was a good call. Took a while, but it’s happening.[/quote]

check out the 2/2 unit:
sold on 08/10/2005: $450,000
listing price now: $269,000.

HOA is so high at $343 Monthly

I did live in one of the 2/2 units 10 years ago. We did check out prices when they converted in 2004. I would say in 1999 if were sold it would have been 170K, HOA 200, but with IR at 7.75%. Just happened to drive by the place today and the park is nice across the street, seems quiet.

http://www.sdlookup.com/Property-5379548A-7190_Shoreline_Dr_6307_San_Diego_CA_92122

[sdnerd]

I’m still living in Lucera.

I’ve definitely noticed the same few units with lock boxes on them for months now. I’m not sure if it’s dreaming sellers, or if the litigation is keeping people out. I think someone said FHA loans aren’t given when their is a lawsuit pending.

I’m honestly a little surprised at that price though. Especially with interest rates where they are today. That might be just a teaser price to get bids up. I’m pretty sure all the other 1 bedrooms are listed in the ~$180k range right now… that’s a pretty big undercut. It’s a middle floor unit, with the bad floorplan.. but still.

After 20% down, with today’s rates you are looking at a mortgage somewhere around ~$600. Throw in the HOA, and you are still under ~$1,000.

They rent from $1,200-$1,400/mo right now, with no 1 bedrooms on CL.

(Yes, I know rents are probably falling and most people don’t have 20% downs.. still seems too cash flow positive right now)

[sdnerd]

I’m still living in Lucera.

I’ve definitely noticed the same few units with lock boxes on them for months now. I’m not sure if it’s dreaming sellers, or if the litigation is keeping people out. I think someone said FHA loans aren’t given when their is a lawsuit pending.

I’m honestly a little surprised at that price though. Especially with interest rates where they are today. That might be just a teaser price to get bids up. I’m pretty sure all the other 1 bedrooms are listed in the ~$180k range right now… that’s a pretty big undercut. It’s a middle floor unit, with the bad floorplan.. but still.

After 20% down, with today’s rates you are looking at a mortgage somewhere around ~$600. Throw in the HOA, and you are still under ~$1,000.

They rent from $1,200-$1,400/mo right now, with no 1 bedrooms on CL.

(Yes, I know rents are probably falling and most people don’t have 20% downs.. still seems too cash flow positive right now)

[sdnerd]

I’m still living in Lucera.

I’ve definitely noticed the same few units with lock boxes on them for months now. I’m not sure if it’s dreaming sellers, or if the litigation is keeping people out. I think someone said FHA loans aren’t given when their is a lawsuit pending.

I’m honestly a little surprised at that price though. Especially with interest rates where they are today. That might be just a teaser price to get bids up. I’m pretty sure all the other 1 bedrooms are listed in the ~$180k range right now… that’s a pretty big undercut. It’s a middle floor unit, with the bad floorplan.. but still.

After 20% down, with today’s rates you are looking at a mortgage somewhere around ~$600. Throw in the HOA, and you are still under ~$1,000.

They rent from $1,200-$1,400/mo right now, with no 1 bedrooms on CL.

(Yes, I know rents are probably falling and most people don’t have 20% downs.. still seems too cash flow positive right now)

[Author]

Posts