Montage in SEH going for 1.5-2mil

[Rockemsock]

So over the weekend my wife and I checked out the models at the very top of the hill in SEH. We just had to see what would warrant such a high price tag.

Go behind the fancy guard-shack and the giant gate and then wind your way up the to the top of the hill (mountain). 7 homes on the sheet, but only 6 models were built apparently…the 7th is available via virtual-tour. No furnishings yet…supposedly by the end of September (is it typical to open models before furnishing it?) These homes are immense (4,983 to 6,010 sq. ft.) and 3 of the model homes had views that were amazing. I know some have joked about nothing to see but the old dump, but honestly I was impressed with the fact that I could clearly see North Oceanside coastline all the way to La Jolla…these homes are very high up. One model had a vanishing pool, another had a large custom home theater, all were equiped with his and hers bathrooms, Viking appliances, some had multiple staircases, 4 car garages (stacked).

But who can afford these homes? And you don’t have a ton of property at all…looks very much like a tract of homes. No sidewalks on one side of the street, backyards are not that big at all, and there’s NO front yard to speak of. And the giant stack of audio equipment that is supposedly “cool” will take up a ton of space in your master closet…and heat it up to boot. I’m curious to know who’ll end up being the lucky blokes to wind up with such gems.

Here’s a link to their site.

http://www.californiacove.com/index2.asp

[sdrealtor]

I’m looking forward to checkin out the view from up there myself on a clear day. I’ve heard the wind up there is gale force though. How was the wind the day you were up there?

[gn]

SEH is not a prime location. No matter how “incredible” the view is, it only adds so much value to a property. For $1.5 – $2 millions, one can buy a large house in Rancho Santa Fe. Why bother with SEH ?

On a different thread, someone made remarks about Yugos with a lot of options/upgrades disguising themselves a Lexuses. That’s what these houses are.

[Alex_angel]

6000 SQFT? Holy crap. I’ve always wanted a morning room though. What is sad is that most people that buy homes this large have no kids. Its just two glutton adults that want a lot of indoor space.

[sdrealtor]

gn
To some SEH is a prime location, maybe not you but to some it is. BTW, Good luck finding that large house in RSF for 1.5 to 2M.

[gn]

sdrealtor,

Take a look at the following listings:

http://www.sdlookup.com/MLS-071052320-17508_Rancho_Del_Rio_Rancho_Santa_Fe_CA_92067

http://www.sdlookup.com/MLS-071040738-7733_La_Orquidia_Rancho_Santa_Fe_CA_92067

http://www.sdlookup.com/MLS-071067046-15474_Pimlico_Corte_Rancho_Santa_Fe_CA_92067

As you can see, I don’t need any luck 🙂

As a realtor, you should know better than anyone else, that real estate is about location. SEH is not a “1.5 – 2M location”.

[recordsclerk]

These homes are very nice. We went last weekend, very hot day in San Diego, very light breeze. Beautiful view for sure. Not all these homes are going to come with a nice view, only about 1/3. The models have the best viewpoint in the community. Those gadgets in the master closet are part of an integrated central surround sound with touch screen controls throughout the house. Since I’m still trying to learn how to use my cell phone (gadget), I’m not going to try and explain how this thing works, but I know that it’s pricey(Marantz stacks). All the door nobs and bathroom fixtures were high end. High end Kitchen. High end flooring. Custom garage doors. Custom doors (rounded) throughout. 1/2 the models have very large lots for new tract homes. The lots look about 12000-20000, I did not ask. There are 6 models to view and 2 models on disc virtual tour. These are by far the nicest non-custom model homes I’ve toured. Still not worth 1.5-2 million. For those that like to look at model homes, I would definately recommend viewing these houses. If you’re bringing the wife, you may want to wait until the models get furnished.

[Alex_angel]

The website says that all models sold but one. Maybe they won’t furnish them now.

[recordsclerk]

They will. Only the cheaper smaller builds don’t get staged.

[patientlywaiting]

I agree with gn about SEH. For that money, better to buy a resale in a better area such as RSF, Fairbanks or the Farms. A new tract home requires landscaping and improvements that will add to the cost.

SEH is not a multi-million dollar neighborhood. Do you want to pay $2 million and have your children hang out with the riff raffs?

[sdrealtor]

GN,
None of those homes are close to $1.5M nor are they huge. The first two are essentially in Escondido. One is a glorified tract house in Cielo (La Orquidia). The last is on a 7,000 sq ft lot. Sure you found a couple houses under $2M in the 92067 ZIP which I know can be found but they are on the fringe of RSF and certainly arent huge houses. Find me a real RSF home on a couplle acres and we can talk.

Personally I would never even consider SEH but I can imagine the view from up there which I’m sure is nothing short of jaw dropping. I also know the builders work and they build a very nice home.

If you are a Physician with an office in San Marcos by CSU with privliges at Palomar Pomerado this would be a prime location for you. If you were a business owner with a successful business on RSF in San marcos this would be a prime location for you. Maybe not for you GN but for someone they will be.

[Rockemsock]

On Monday there was a slight breeze, but I can see the flags from our home down the hill, and they are ALWAYS blowing…so yeah, I bet it get’s real windy on occasion. 3 of the models and the a handful of homes below it will have the spectacular view…no way it’s worth that price for me, but if they can get someone to pay that…more power to ’em. I’m all for the integrated sound system, but I just can’t believe that the only spot they could find in the ~5000 sq. ft. to house all the equipment, was in the master closet.

Recordsclerk hit the nail on the head with the description…these homes are definitely the best non-custom homes i’ve been in. Although I would have liked to have seen at least one single story plan in the mix, because I almost always like the floorplans of the single story homes the best. We mentioned to the realtor at the location that our favorite was the Michelangelo and she said that was everyone’s favorite…kinda’ surprising that out of 6 models there was a stand-out favorite.

[ocrenter]

went there, loved the view!

these are nice homes, good floor plans, good designs.

truly what $1 million should get you, but $1.5 to $2 million? hmmm…

as I see it, the faux price of $1 million for a 3,000 sqft typical tract home down the hill will gradually move to its proper place at the $500-$600,000 mark.

and the $1.5 to $2 million asking for these should settle to $1 to $1.5 million (the higher for the breath-taking view).

[cyphire]

I’m with you ocrenter… Most people, even on this forum, can’t imagine prices resetting to the late 90’s… Coupled with inflationary pressure, wow what a hit to home prices.

Just look at the percentage increases over the last 10 years… Then look at where the line should be.

[larrylujack]

gn,
“For $1.5 – $2 millions, one can buy a large house in Rancho Santa Fe.”
really, where? No way, no how.
Even if you could get one in that range in cielo/crosby, really these areas don’t count cause they are closer to del dios than rsf, and the hoa and mello-roos fees are horrific.

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