Lucera Condo – $199k

[akbarpunjabi]

There are plenty of complexes out there that on top of mass foreclosures have pending litigation and owner to renter ratios that make financing hard to obtain just ask HLS I’m sure he knows all about it.

[akbarpunjabi]

There are plenty of complexes out there that on top of mass foreclosures have pending litigation and owner to renter ratios that make financing hard to obtain just ask HLS I’m sure he knows all about it.

[SmellsFeeshy]

FYI if anyone wants to know the details of the litigation this is an interesting link:

http://sdssexperts.com/yahoo_site_admin/assets/docs/Lucera_Litigation_Paperwork.241171704.pdf

[SmellsFeeshy]

FYI if anyone wants to know the details of the litigation this is an interesting link:

http://sdssexperts.com/yahoo_site_admin/assets/docs/Lucera_Litigation_Paperwork.241171704.pdf

[SmellsFeeshy]

FYI if anyone wants to know the details of the litigation this is an interesting link:

http://sdssexperts.com/yahoo_site_admin/assets/docs/Lucera_Litigation_Paperwork.241171704.pdf

[SmellsFeeshy]

FYI if anyone wants to know the details of the litigation this is an interesting link:

http://sdssexperts.com/yahoo_site_admin/assets/docs/Lucera_Litigation_Paperwork.241171704.pdf

[SmellsFeeshy]

FYI if anyone wants to know the details of the litigation this is an interesting link:

http://sdssexperts.com/yahoo_site_admin/assets/docs/Lucera_Litigation_Paperwork.241171704.pdf

[sdnerd]

[quote=SmellsFeeshy]
I think $1200-1400 is a little high for Lucera based on current rents I’ve seen. You’re talking about the 1BR ~600sqft units right? Seems like comparable conversion units (like at Verano, Vicenza and Venetian) are being advertised on CL for around $1000-1200. Lucera has a better location and is nicer for the most part though so maybe that would justify a slight premium but I still think that when you factor in upkeep the 1BR at Lucera is probably close to break even at best even with 20% down.[/quote]

The cheapest 1brs on CL for Vicenza or Venetian are $1,250. I wouldn’t compare Verano with any of those 3 though. I agree with you, Lucera has a better location and is nicer then the rest. I believe it’s also the only one with a garage.

There’s not much upkeep to a 1BR condo that has a HOA. A Mortgage+HOA is in the ~$900 range again would still be a couple hundred dollars/mo cheaper then renting.

Now needing all cash offers to get that price is another issue. 🙂

[sdnerd]

[quote=SmellsFeeshy]
I think $1200-1400 is a little high for Lucera based on current rents I’ve seen. You’re talking about the 1BR ~600sqft units right? Seems like comparable conversion units (like at Verano, Vicenza and Venetian) are being advertised on CL for around $1000-1200. Lucera has a better location and is nicer for the most part though so maybe that would justify a slight premium but I still think that when you factor in upkeep the 1BR at Lucera is probably close to break even at best even with 20% down.[/quote]

The cheapest 1brs on CL for Vicenza or Venetian are $1,250. I wouldn’t compare Verano with any of those 3 though. I agree with you, Lucera has a better location and is nicer then the rest. I believe it’s also the only one with a garage.

There’s not much upkeep to a 1BR condo that has a HOA. A Mortgage+HOA is in the ~$900 range again would still be a couple hundred dollars/mo cheaper then renting.

Now needing all cash offers to get that price is another issue. 🙂

[sdnerd]

[quote=SmellsFeeshy]
I think $1200-1400 is a little high for Lucera based on current rents I’ve seen. You’re talking about the 1BR ~600sqft units right? Seems like comparable conversion units (like at Verano, Vicenza and Venetian) are being advertised on CL for around $1000-1200. Lucera has a better location and is nicer for the most part though so maybe that would justify a slight premium but I still think that when you factor in upkeep the 1BR at Lucera is probably close to break even at best even with 20% down.[/quote]

The cheapest 1brs on CL for Vicenza or Venetian are $1,250. I wouldn’t compare Verano with any of those 3 though. I agree with you, Lucera has a better location and is nicer then the rest. I believe it’s also the only one with a garage.

There’s not much upkeep to a 1BR condo that has a HOA. A Mortgage+HOA is in the ~$900 range again would still be a couple hundred dollars/mo cheaper then renting.

Now needing all cash offers to get that price is another issue. 🙂

[sdnerd]

[quote=SmellsFeeshy]
I think $1200-1400 is a little high for Lucera based on current rents I’ve seen. You’re talking about the 1BR ~600sqft units right? Seems like comparable conversion units (like at Verano, Vicenza and Venetian) are being advertised on CL for around $1000-1200. Lucera has a better location and is nicer for the most part though so maybe that would justify a slight premium but I still think that when you factor in upkeep the 1BR at Lucera is probably close to break even at best even with 20% down.[/quote]

The cheapest 1brs on CL for Vicenza or Venetian are $1,250. I wouldn’t compare Verano with any of those 3 though. I agree with you, Lucera has a better location and is nicer then the rest. I believe it’s also the only one with a garage.

There’s not much upkeep to a 1BR condo that has a HOA. A Mortgage+HOA is in the ~$900 range again would still be a couple hundred dollars/mo cheaper then renting.

Now needing all cash offers to get that price is another issue. 🙂

[sdnerd]

[quote=SmellsFeeshy]
I think $1200-1400 is a little high for Lucera based on current rents I’ve seen. You’re talking about the 1BR ~600sqft units right? Seems like comparable conversion units (like at Verano, Vicenza and Venetian) are being advertised on CL for around $1000-1200. Lucera has a better location and is nicer for the most part though so maybe that would justify a slight premium but I still think that when you factor in upkeep the 1BR at Lucera is probably close to break even at best even with 20% down.[/quote]

The cheapest 1brs on CL for Vicenza or Venetian are $1,250. I wouldn’t compare Verano with any of those 3 though. I agree with you, Lucera has a better location and is nicer then the rest. I believe it’s also the only one with a garage.

There’s not much upkeep to a 1BR condo that has a HOA. A Mortgage+HOA is in the ~$900 range again would still be a couple hundred dollars/mo cheaper then renting.

Now needing all cash offers to get that price is another issue. 🙂

[briansd1]

[quote=sdnerd]I posted a while back that I anticipate these falling to ~$180k, potentially $150k if there is an overcorrection.

All the other 1 bedrooms are listed around $220-230k right now last I looked; this one just had a big price drop.

I purchased a 1 bedroom a little over 4 years ago and have been living here as my primary residence. I wouldn’t call it resort living by any means, but you don’t live here for that IMHO. It’s all about easy access to the freeway & surrounding office complexes – at least that was my big attraction. The new park right across the street is also quite nice. Should be pretty easy to rent out in a year or two.

The garages are quite large; I suppose if you wanted to store valuables in them that would not be a good idea. But if you just want an indoor spot for your car and some locking cabinets they are great. There have been some plumbing issues, but hopefully they are all sorted now.

By in large though, compared to many of the complexes in the UTC area I liked this one the most.

Breaking the $200k barrier though is big in my mind, will be curious to see how the other sellers react – and how quickly this one sells (and at what price).[/quote]

Despite prices dropping to $159k already, I think we are still in the under-correction rather than the over-correction category.

http://www.sdlookup.com/MLS-080049891-7190_Shoreline_Dr_6212_San_Diego_Ca_92122

http://www.sdlookup.com/MLS-080041401-7120_Shoreline_Dr_2214_San_Diego_Ca_92122

[briansd1]

[quote=sdnerd]I posted a while back that I anticipate these falling to ~$180k, potentially $150k if there is an overcorrection.

All the other 1 bedrooms are listed around $220-230k right now last I looked; this one just had a big price drop.

I purchased a 1 bedroom a little over 4 years ago and have been living here as my primary residence. I wouldn’t call it resort living by any means, but you don’t live here for that IMHO. It’s all about easy access to the freeway & surrounding office complexes – at least that was my big attraction. The new park right across the street is also quite nice. Should be pretty easy to rent out in a year or two.

The garages are quite large; I suppose if you wanted to store valuables in them that would not be a good idea. But if you just want an indoor spot for your car and some locking cabinets they are great. There have been some plumbing issues, but hopefully they are all sorted now.

By in large though, compared to many of the complexes in the UTC area I liked this one the most.

Breaking the $200k barrier though is big in my mind, will be curious to see how the other sellers react – and how quickly this one sells (and at what price).[/quote]

Despite prices dropping to $159k already, I think we are still in the under-correction rather than the over-correction category.

http://www.sdlookup.com/MLS-080049891-7190_Shoreline_Dr_6212_San_Diego_Ca_92122

http://www.sdlookup.com/MLS-080041401-7120_Shoreline_Dr_2214_San_Diego_Ca_92122

[briansd1]

[quote=sdnerd]I posted a while back that I anticipate these falling to ~$180k, potentially $150k if there is an overcorrection.

All the other 1 bedrooms are listed around $220-230k right now last I looked; this one just had a big price drop.

I purchased a 1 bedroom a little over 4 years ago and have been living here as my primary residence. I wouldn’t call it resort living by any means, but you don’t live here for that IMHO. It’s all about easy access to the freeway & surrounding office complexes – at least that was my big attraction. The new park right across the street is also quite nice. Should be pretty easy to rent out in a year or two.

The garages are quite large; I suppose if you wanted to store valuables in them that would not be a good idea. But if you just want an indoor spot for your car and some locking cabinets they are great. There have been some plumbing issues, but hopefully they are all sorted now.

By in large though, compared to many of the complexes in the UTC area I liked this one the most.

Breaking the $200k barrier though is big in my mind, will be curious to see how the other sellers react – and how quickly this one sells (and at what price).[/quote]

Despite prices dropping to $159k already, I think we are still in the under-correction rather than the over-correction category.

http://www.sdlookup.com/MLS-080049891-7190_Shoreline_Dr_6212_San_Diego_Ca_92122

http://www.sdlookup.com/MLS-080041401-7120_Shoreline_Dr_2214_San_Diego_Ca_92122

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