Madrid in La Jolla Colony/UTC

[Scarlett]

Anybody familiar from RE standpoint with this complex/part of town?

What you like/dislike about this complex? If you were to buy a larger townhome in UTC area, would you consider this complex as a good buy?

We are currently renting the largest floorplan in Madrid and we really like it, the layout and all. We like the UTC area, for convenience.
We are considering buying this floorplan next year. One of the last largest floorplans in Madrid sold in the low 600K last fall, and they rent now for mid 2000s. What we observed so far – many retired old people who may want to move/downsize soon, especially with these being tri-level homes. We hear a little bit of noise from I-5 and occasional trains blowing their horn in Rose Canyon, but nothing bothering. I’ve heard that HOA has plenty of funds, and the common areas look well maintained, with lots of green spaces, bushes and trees.

THANKS!

[jpinpb]

I think 600k is still high, but they’re getting it for now. However, I’ve been posting NODs in Barcelona and the prices are starting to come down in that community. I imagine eventually it will spread to Madrid and then to Valencia.

I think the area is very nice. I’ve always liked that particular area. The train is no big deal and the freeway noise is not too bad, I don’t think.

[jpinpb]

I think 600k is still high, but they’re getting it for now. However, I’ve been posting NODs in Barcelona and the prices are starting to come down in that community. I imagine eventually it will spread to Madrid and then to Valencia.

I think the area is very nice. I’ve always liked that particular area. The train is no big deal and the freeway noise is not too bad, I don’t think.

[jpinpb]

I think 600k is still high, but they’re getting it for now. However, I’ve been posting NODs in Barcelona and the prices are starting to come down in that community. I imagine eventually it will spread to Madrid and then to Valencia.

I think the area is very nice. I’ve always liked that particular area. The train is no big deal and the freeway noise is not too bad, I don’t think.

[jpinpb]

I think 600k is still high, but they’re getting it for now. However, I’ve been posting NODs in Barcelona and the prices are starting to come down in that community. I imagine eventually it will spread to Madrid and then to Valencia.

I think the area is very nice. I’ve always liked that particular area. The train is no big deal and the freeway noise is not too bad, I don’t think.

[jpinpb]

I think 600k is still high, but they’re getting it for now. However, I’ve been posting NODs in Barcelona and the prices are starting to come down in that community. I imagine eventually it will spread to Madrid and then to Valencia.

I think the area is very nice. I’ve always liked that particular area. The train is no big deal and the freeway noise is not too bad, I don’t think.

[Scarlett]

[quote=jpinpb]I think 600k is still high, but they’re getting it for now. However, I’ve been posting NODs in Barcelona and the prices are starting to come down in that community. I imagine eventually it will spread to Madrid and then to Valencia.

I think the area is very nice. I’ve always liked that particular area. The train is no big deal and the freeway noise is not too bad, I don’t think.
[/quote]
What do you think the approximate bottom would be for Madrid/Barcelona? I saw a recent posting here that suggested that anything above 2000 prices, or 250/ sf is too much, still ‘bubble’. That would mean mid 400Ks and I don’t see it happening, unless we have a steady decline for years….20% off from the current prices, could it happen in La Jolla Colony?
BTW,Barcelona are detached though, while Madrid are townhomes/attached. Albeit I preferred Madrid vs Barcelona even at the same price/rent.

[Scarlett]

[quote=jpinpb]I think 600k is still high, but they’re getting it for now. However, I’ve been posting NODs in Barcelona and the prices are starting to come down in that community. I imagine eventually it will spread to Madrid and then to Valencia.

I think the area is very nice. I’ve always liked that particular area. The train is no big deal and the freeway noise is not too bad, I don’t think.
[/quote]
What do you think the approximate bottom would be for Madrid/Barcelona? I saw a recent posting here that suggested that anything above 2000 prices, or 250/ sf is too much, still ‘bubble’. That would mean mid 400Ks and I don’t see it happening, unless we have a steady decline for years….20% off from the current prices, could it happen in La Jolla Colony?
BTW,Barcelona are detached though, while Madrid are townhomes/attached. Albeit I preferred Madrid vs Barcelona even at the same price/rent.

[Scarlett]

[quote=jpinpb]I think 600k is still high, but they’re getting it for now. However, I’ve been posting NODs in Barcelona and the prices are starting to come down in that community. I imagine eventually it will spread to Madrid and then to Valencia.

I think the area is very nice. I’ve always liked that particular area. The train is no big deal and the freeway noise is not too bad, I don’t think.
[/quote]
What do you think the approximate bottom would be for Madrid/Barcelona? I saw a recent posting here that suggested that anything above 2000 prices, or 250/ sf is too much, still ‘bubble’. That would mean mid 400Ks and I don’t see it happening, unless we have a steady decline for years….20% off from the current prices, could it happen in La Jolla Colony?
BTW,Barcelona are detached though, while Madrid are townhomes/attached. Albeit I preferred Madrid vs Barcelona even at the same price/rent.

[Scarlett]

[quote=jpinpb]I think 600k is still high, but they’re getting it for now. However, I’ve been posting NODs in Barcelona and the prices are starting to come down in that community. I imagine eventually it will spread to Madrid and then to Valencia.

I think the area is very nice. I’ve always liked that particular area. The train is no big deal and the freeway noise is not too bad, I don’t think.
[/quote]
What do you think the approximate bottom would be for Madrid/Barcelona? I saw a recent posting here that suggested that anything above 2000 prices, or 250/ sf is too much, still ‘bubble’. That would mean mid 400Ks and I don’t see it happening, unless we have a steady decline for years….20% off from the current prices, could it happen in La Jolla Colony?
BTW,Barcelona are detached though, while Madrid are townhomes/attached. Albeit I preferred Madrid vs Barcelona even at the same price/rent.

[Scarlett]

[quote=jpinpb]I think 600k is still high, but they’re getting it for now. However, I’ve been posting NODs in Barcelona and the prices are starting to come down in that community. I imagine eventually it will spread to Madrid and then to Valencia.

I think the area is very nice. I’ve always liked that particular area. The train is no big deal and the freeway noise is not too bad, I don’t think.
[/quote]
What do you think the approximate bottom would be for Madrid/Barcelona? I saw a recent posting here that suggested that anything above 2000 prices, or 250/ sf is too much, still ‘bubble’. That would mean mid 400Ks and I don’t see it happening, unless we have a steady decline for years….20% off from the current prices, could it happen in La Jolla Colony?
BTW,Barcelona are detached though, while Madrid are townhomes/attached. Albeit I preferred Madrid vs Barcelona even at the same price/rent.

[SanDiegoDave]

Waiting until next year is a good idea. Be sure to track every comparable townhouse condo sale in the area: all the stuff over in Renaissance & University Town Square, and the Barcelona’s as well. Go to the open houses, etc. This should allow you to really narrow down what, and is not, a fair deal when it comes time to buy. After closely tracking that long you’ll be able to spot a good deal as soon as it lists (or when a seller finally drops the price enough).

The best thing about any of those condos is that they’ll always cash flow if you ever need to rent it out.

I love the UTC area as well. But I wish there were more single family homes. The only two developments are Valencia (across from Barcelona) and Vista (next to Renaissance). In both cases the prices of the homes come at a heavy premium when comparing to the rest of University City.

[SanDiegoDave]

Waiting until next year is a good idea. Be sure to track every comparable townhouse condo sale in the area: all the stuff over in Renaissance & University Town Square, and the Barcelona’s as well. Go to the open houses, etc. This should allow you to really narrow down what, and is not, a fair deal when it comes time to buy. After closely tracking that long you’ll be able to spot a good deal as soon as it lists (or when a seller finally drops the price enough).

The best thing about any of those condos is that they’ll always cash flow if you ever need to rent it out.

I love the UTC area as well. But I wish there were more single family homes. The only two developments are Valencia (across from Barcelona) and Vista (next to Renaissance). In both cases the prices of the homes come at a heavy premium when comparing to the rest of University City.

[SanDiegoDave]

Waiting until next year is a good idea. Be sure to track every comparable townhouse condo sale in the area: all the stuff over in Renaissance & University Town Square, and the Barcelona’s as well. Go to the open houses, etc. This should allow you to really narrow down what, and is not, a fair deal when it comes time to buy. After closely tracking that long you’ll be able to spot a good deal as soon as it lists (or when a seller finally drops the price enough).

The best thing about any of those condos is that they’ll always cash flow if you ever need to rent it out.

I love the UTC area as well. But I wish there were more single family homes. The only two developments are Valencia (across from Barcelona) and Vista (next to Renaissance). In both cases the prices of the homes come at a heavy premium when comparing to the rest of University City.

[SanDiegoDave]

Waiting until next year is a good idea. Be sure to track every comparable townhouse condo sale in the area: all the stuff over in Renaissance & University Town Square, and the Barcelona’s as well. Go to the open houses, etc. This should allow you to really narrow down what, and is not, a fair deal when it comes time to buy. After closely tracking that long you’ll be able to spot a good deal as soon as it lists (or when a seller finally drops the price enough).

The best thing about any of those condos is that they’ll always cash flow if you ever need to rent it out.

I love the UTC area as well. But I wish there were more single family homes. The only two developments are Valencia (across from Barcelona) and Vista (next to Renaissance). In both cases the prices of the homes come at a heavy premium when comparing to the rest of University City.

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