Madrid in La Jolla Colony/UTC

[chrisp]

How’s the HOA doing in Avanti? I notice a fair amount of short-sales/foreclosures.

[Scarlett]

[quote=Scarlett][quote=deadzone]Denial. They’ll be VERY lucky to over 500K for that. But most likely it’ll be pulled off the market before it gets that low.
[/quote]
I was thinking to offer them 500K but I thought it would be ridiculed…No, it’s not worth more than 500K. I live in one like that unit so I know.

But I am willing to bet there will be enough desperate, worried people that they’d actually get close to 600K for it. I’ll keep you posted![/quote]

Well, that Madrid largest floor plan went pending, after they recently lowered their price to $629K. Looks like I’d have won that bet – if the sale goes through. The offer must have been close to 600K. It has been listed for almost 2 months.

What is going on???
I am giving up 🙁 This townhome sold at the end of 2003 for $520K. That is what price we should see now.

[Scarlett]

[quote=Scarlett][quote=deadzone]Denial. They’ll be VERY lucky to over 500K for that. But most likely it’ll be pulled off the market before it gets that low.
[/quote]
I was thinking to offer them 500K but I thought it would be ridiculed…No, it’s not worth more than 500K. I live in one like that unit so I know.

But I am willing to bet there will be enough desperate, worried people that they’d actually get close to 600K for it. I’ll keep you posted![/quote]

Well, that Madrid largest floor plan went pending, after they recently lowered their price to $629K. Looks like I’d have won that bet – if the sale goes through. The offer must have been close to 600K. It has been listed for almost 2 months.

What is going on???
I am giving up 🙁 This townhome sold at the end of 2003 for $520K. That is what price we should see now.

[Scarlett]

[quote=Scarlett][quote=deadzone]Denial. They’ll be VERY lucky to over 500K for that. But most likely it’ll be pulled off the market before it gets that low.
[/quote]
I was thinking to offer them 500K but I thought it would be ridiculed…No, it’s not worth more than 500K. I live in one like that unit so I know.

But I am willing to bet there will be enough desperate, worried people that they’d actually get close to 600K for it. I’ll keep you posted![/quote]

Well, that Madrid largest floor plan went pending, after they recently lowered their price to $629K. Looks like I’d have won that bet – if the sale goes through. The offer must have been close to 600K. It has been listed for almost 2 months.

What is going on???
I am giving up 🙁 This townhome sold at the end of 2003 for $520K. That is what price we should see now.

[Scarlett]

[quote=Scarlett][quote=deadzone]Denial. They’ll be VERY lucky to over 500K for that. But most likely it’ll be pulled off the market before it gets that low.
[/quote]
I was thinking to offer them 500K but I thought it would be ridiculed…No, it’s not worth more than 500K. I live in one like that unit so I know.

But I am willing to bet there will be enough desperate, worried people that they’d actually get close to 600K for it. I’ll keep you posted![/quote]

Well, that Madrid largest floor plan went pending, after they recently lowered their price to $629K. Looks like I’d have won that bet – if the sale goes through. The offer must have been close to 600K. It has been listed for almost 2 months.

What is going on???
I am giving up 🙁 This townhome sold at the end of 2003 for $520K. That is what price we should see now.

[Scarlett]

[quote=Scarlett][quote=deadzone]Denial. They’ll be VERY lucky to over 500K for that. But most likely it’ll be pulled off the market before it gets that low.
[/quote]
I was thinking to offer them 500K but I thought it would be ridiculed…No, it’s not worth more than 500K. I live in one like that unit so I know.

But I am willing to bet there will be enough desperate, worried people that they’d actually get close to 600K for it. I’ll keep you posted![/quote]

Well, that Madrid largest floor plan went pending, after they recently lowered their price to $629K. Looks like I’d have won that bet – if the sale goes through. The offer must have been close to 600K. It has been listed for almost 2 months.

What is going on???
I am giving up 🙁 This townhome sold at the end of 2003 for $520K. That is what price we should see now.

[werewolf34]

Madrid is a weird property

Pros
1) Next to the greenbelt
2) sizable in a part of UTC where 600/900 SF rule the landscape

Cons
1) freeway noise
2) Surrounded by lower rent places (i.e. student properties)
3) Greenbelt is marginally too small (unless you like doing laps)
4) older style bathrooms
5) small bedrooms
6) split levels make it feel smaller and less attractive to young families
7) attached housing

[werewolf34]

Madrid is a weird property

Pros
1) Next to the greenbelt
2) sizable in a part of UTC where 600/900 SF rule the landscape

Cons
1) freeway noise
2) Surrounded by lower rent places (i.e. student properties)
3) Greenbelt is marginally too small (unless you like doing laps)
4) older style bathrooms
5) small bedrooms
6) split levels make it feel smaller and less attractive to young families
7) attached housing

[werewolf34]

Madrid is a weird property

Pros
1) Next to the greenbelt
2) sizable in a part of UTC where 600/900 SF rule the landscape

Cons
1) freeway noise
2) Surrounded by lower rent places (i.e. student properties)
3) Greenbelt is marginally too small (unless you like doing laps)
4) older style bathrooms
5) small bedrooms
6) split levels make it feel smaller and less attractive to young families
7) attached housing

[werewolf34]

Madrid is a weird property

Pros
1) Next to the greenbelt
2) sizable in a part of UTC where 600/900 SF rule the landscape

Cons
1) freeway noise
2) Surrounded by lower rent places (i.e. student properties)
3) Greenbelt is marginally too small (unless you like doing laps)
4) older style bathrooms
5) small bedrooms
6) split levels make it feel smaller and less attractive to young families
7) attached housing

[werewolf34]

Madrid is a weird property

Pros
1) Next to the greenbelt
2) sizable in a part of UTC where 600/900 SF rule the landscape

Cons
1) freeway noise
2) Surrounded by lower rent places (i.e. student properties)
3) Greenbelt is marginally too small (unless you like doing laps)
4) older style bathrooms
5) small bedrooms
6) split levels make it feel smaller and less attractive to young families
7) attached housing

[Scarlett]

[quote=werewolf34]Madrid is a weird property

Pros
1) Next to the greenbelt
2) sizable in a part of UTC where 600/900 SF rule the landscape

Cons
1) freeway noise
2) Surrounded by lower rent places (i.e. student properties)
3) Greenbelt is marginally too small (unless you like doing laps)
4) older style bathrooms
5) small bedrooms
6) split levels make it feel smaller and less attractive to young families
7) attached housing[/quote]

Agreed it is a weird complex…The cons you list aren’t that bad. It is what it is – an older townhome. Much more greenbelt than any other UTC complexes. Freeway noise is really not bad at all. You can’t hear it in the house even with open windows. I think the prices are holding high because of less than a handful of properties with larger SF in UTC that are ‘more’ affordable – relatively speaking.

What disturbs me more is that the ‘detached’ houses down the road in Barcelona are selling in mid 500s. True they are about 100 sf smaller, but theoretically detached. I would have expected that Madrid largest townhomes would also be priced in mid 500s, like the Barcelona ones.

[Scarlett]

[quote=werewolf34]Madrid is a weird property

Pros
1) Next to the greenbelt
2) sizable in a part of UTC where 600/900 SF rule the landscape

Cons
1) freeway noise
2) Surrounded by lower rent places (i.e. student properties)
3) Greenbelt is marginally too small (unless you like doing laps)
4) older style bathrooms
5) small bedrooms
6) split levels make it feel smaller and less attractive to young families
7) attached housing[/quote]

Agreed it is a weird complex…The cons you list aren’t that bad. It is what it is – an older townhome. Much more greenbelt than any other UTC complexes. Freeway noise is really not bad at all. You can’t hear it in the house even with open windows. I think the prices are holding high because of less than a handful of properties with larger SF in UTC that are ‘more’ affordable – relatively speaking.

What disturbs me more is that the ‘detached’ houses down the road in Barcelona are selling in mid 500s. True they are about 100 sf smaller, but theoretically detached. I would have expected that Madrid largest townhomes would also be priced in mid 500s, like the Barcelona ones.

[Scarlett]

[quote=werewolf34]Madrid is a weird property

Pros
1) Next to the greenbelt
2) sizable in a part of UTC where 600/900 SF rule the landscape

Cons
1) freeway noise
2) Surrounded by lower rent places (i.e. student properties)
3) Greenbelt is marginally too small (unless you like doing laps)
4) older style bathrooms
5) small bedrooms
6) split levels make it feel smaller and less attractive to young families
7) attached housing[/quote]

Agreed it is a weird complex…The cons you list aren’t that bad. It is what it is – an older townhome. Much more greenbelt than any other UTC complexes. Freeway noise is really not bad at all. You can’t hear it in the house even with open windows. I think the prices are holding high because of less than a handful of properties with larger SF in UTC that are ‘more’ affordable – relatively speaking.

What disturbs me more is that the ‘detached’ houses down the road in Barcelona are selling in mid 500s. True they are about 100 sf smaller, but theoretically detached. I would have expected that Madrid largest townhomes would also be priced in mid 500s, like the Barcelona ones.

[Scarlett]

[quote=werewolf34]Madrid is a weird property

Pros
1) Next to the greenbelt
2) sizable in a part of UTC where 600/900 SF rule the landscape

Cons
1) freeway noise
2) Surrounded by lower rent places (i.e. student properties)
3) Greenbelt is marginally too small (unless you like doing laps)
4) older style bathrooms
5) small bedrooms
6) split levels make it feel smaller and less attractive to young families
7) attached housing[/quote]

Agreed it is a weird complex…The cons you list aren’t that bad. It is what it is – an older townhome. Much more greenbelt than any other UTC complexes. Freeway noise is really not bad at all. You can’t hear it in the house even with open windows. I think the prices are holding high because of less than a handful of properties with larger SF in UTC that are ‘more’ affordable – relatively speaking.

What disturbs me more is that the ‘detached’ houses down the road in Barcelona are selling in mid 500s. True they are about 100 sf smaller, but theoretically detached. I would have expected that Madrid largest townhomes would also be priced in mid 500s, like the Barcelona ones.

[Author]

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