Home › Forums › Closed Forums › Properties or Areas › Massive 26% Markdown on Carmel Valley McMansion
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January 11, 2008 at 6:55 PM #134905January 11, 2008 at 8:45 PM #134671EugeneParticipant
“I am shocked at how many foreign buyers seem to want to own USA real estate.”
I see where you’re coming from but there’s one problem.
Foreign buyers aren’t snapping up McMansions in Florida to such an extent as to stop the bubble from collapsing. And Florida has some enormous advantages over San Diego for a prospective foreign vacation property buyer:
– About two times cheaper (median SFR in 300’s in Miami, low 200’s in Tampa)
– WARM OCEAN (low 70’s in December!)
– Direct 8-9 hour flights connecting Miami with London and Paris
Once we hear about rich Brits reversing the decline in Miami, I’ll start worrying about San Diego.
January 11, 2008 at 8:45 PM #134863EugeneParticipant“I am shocked at how many foreign buyers seem to want to own USA real estate.”
I see where you’re coming from but there’s one problem.
Foreign buyers aren’t snapping up McMansions in Florida to such an extent as to stop the bubble from collapsing. And Florida has some enormous advantages over San Diego for a prospective foreign vacation property buyer:
– About two times cheaper (median SFR in 300’s in Miami, low 200’s in Tampa)
– WARM OCEAN (low 70’s in December!)
– Direct 8-9 hour flights connecting Miami with London and Paris
Once we hear about rich Brits reversing the decline in Miami, I’ll start worrying about San Diego.
January 11, 2008 at 8:45 PM #134872EugeneParticipant“I am shocked at how many foreign buyers seem to want to own USA real estate.”
I see where you’re coming from but there’s one problem.
Foreign buyers aren’t snapping up McMansions in Florida to such an extent as to stop the bubble from collapsing. And Florida has some enormous advantages over San Diego for a prospective foreign vacation property buyer:
– About two times cheaper (median SFR in 300’s in Miami, low 200’s in Tampa)
– WARM OCEAN (low 70’s in December!)
– Direct 8-9 hour flights connecting Miami with London and Paris
Once we hear about rich Brits reversing the decline in Miami, I’ll start worrying about San Diego.
January 11, 2008 at 8:45 PM #134929EugeneParticipant“I am shocked at how many foreign buyers seem to want to own USA real estate.”
I see where you’re coming from but there’s one problem.
Foreign buyers aren’t snapping up McMansions in Florida to such an extent as to stop the bubble from collapsing. And Florida has some enormous advantages over San Diego for a prospective foreign vacation property buyer:
– About two times cheaper (median SFR in 300’s in Miami, low 200’s in Tampa)
– WARM OCEAN (low 70’s in December!)
– Direct 8-9 hour flights connecting Miami with London and Paris
Once we hear about rich Brits reversing the decline in Miami, I’ll start worrying about San Diego.
January 11, 2008 at 8:45 PM #134970EugeneParticipant“I am shocked at how many foreign buyers seem to want to own USA real estate.”
I see where you’re coming from but there’s one problem.
Foreign buyers aren’t snapping up McMansions in Florida to such an extent as to stop the bubble from collapsing. And Florida has some enormous advantages over San Diego for a prospective foreign vacation property buyer:
– About two times cheaper (median SFR in 300’s in Miami, low 200’s in Tampa)
– WARM OCEAN (low 70’s in December!)
– Direct 8-9 hour flights connecting Miami with London and Paris
Once we hear about rich Brits reversing the decline in Miami, I’ll start worrying about San Diego.
January 12, 2008 at 5:45 PM #134976EugeneParticipantRegarding the REO on Mesa Norte
It’s amazing. They had 4 acres to work with and they couldn’t find enough room to put in a proper driveway. You can’t make a u-turn in that driveway without hitting a wall or getting into a flowerbed. You’ll have to drive 200 feet backwards from the garage to the street.
I’d expect a little more consideration to be put into building a 2 million home.
January 12, 2008 at 5:45 PM #135170EugeneParticipantRegarding the REO on Mesa Norte
It’s amazing. They had 4 acres to work with and they couldn’t find enough room to put in a proper driveway. You can’t make a u-turn in that driveway without hitting a wall or getting into a flowerbed. You’ll have to drive 200 feet backwards from the garage to the street.
I’d expect a little more consideration to be put into building a 2 million home.
January 12, 2008 at 5:45 PM #135177EugeneParticipantRegarding the REO on Mesa Norte
It’s amazing. They had 4 acres to work with and they couldn’t find enough room to put in a proper driveway. You can’t make a u-turn in that driveway without hitting a wall or getting into a flowerbed. You’ll have to drive 200 feet backwards from the garage to the street.
I’d expect a little more consideration to be put into building a 2 million home.
January 12, 2008 at 5:45 PM #135230EugeneParticipantRegarding the REO on Mesa Norte
It’s amazing. They had 4 acres to work with and they couldn’t find enough room to put in a proper driveway. You can’t make a u-turn in that driveway without hitting a wall or getting into a flowerbed. You’ll have to drive 200 feet backwards from the garage to the street.
I’d expect a little more consideration to be put into building a 2 million home.
January 12, 2008 at 5:45 PM #135270EugeneParticipantRegarding the REO on Mesa Norte
It’s amazing. They had 4 acres to work with and they couldn’t find enough room to put in a proper driveway. You can’t make a u-turn in that driveway without hitting a wall or getting into a flowerbed. You’ll have to drive 200 feet backwards from the garage to the street.
I’d expect a little more consideration to be put into building a 2 million home.
February 25, 2008 at 1:57 PM #159672New_RenterParticipantSo much for selling the Mesa Norte REO. I believe a few weeks ago SD Realtor let us know there were three offers on the Mesa Norte REO and then it quickly went pending. Well guess what, it’s baaaaack…..
http://www.sdlookup.com/MLS-081001736-6473_Mesa_Norte_Dr_San_Diego_CA_92130
And it’s back at the same price as before. You would think this agent might try a lower price this time around….
New_Renter
February 25, 2008 at 1:57 PM #159968New_RenterParticipantSo much for selling the Mesa Norte REO. I believe a few weeks ago SD Realtor let us know there were three offers on the Mesa Norte REO and then it quickly went pending. Well guess what, it’s baaaaack…..
http://www.sdlookup.com/MLS-081001736-6473_Mesa_Norte_Dr_San_Diego_CA_92130
And it’s back at the same price as before. You would think this agent might try a lower price this time around….
New_Renter
February 25, 2008 at 1:57 PM #159982New_RenterParticipantSo much for selling the Mesa Norte REO. I believe a few weeks ago SD Realtor let us know there were three offers on the Mesa Norte REO and then it quickly went pending. Well guess what, it’s baaaaack…..
http://www.sdlookup.com/MLS-081001736-6473_Mesa_Norte_Dr_San_Diego_CA_92130
And it’s back at the same price as before. You would think this agent might try a lower price this time around….
New_Renter
February 25, 2008 at 1:57 PM #159989New_RenterParticipantSo much for selling the Mesa Norte REO. I believe a few weeks ago SD Realtor let us know there were three offers on the Mesa Norte REO and then it quickly went pending. Well guess what, it’s baaaaack…..
http://www.sdlookup.com/MLS-081001736-6473_Mesa_Norte_Dr_San_Diego_CA_92130
And it’s back at the same price as before. You would think this agent might try a lower price this time around….
New_Renter
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