Older Homes in Carlsbad

[Occams Realtor]

I would like the opinion of those familiar with North County, mainly Carlsbad and Encinitas. SD Realtor, take off your cape and feel free to jump in. North Carlsbad has a few older homes built in the 80’s mixed in with new homes built in the early 2000’s. The developments are blocks away from each other. Needless to say, the newer homes are selling for a lot more than the older ones but they are in the same neighborhood.

Would you buy an older home now or wait for the newer homes to decrees in price?

Pretty good example:
http://www.sdlookup.com/MLS-080054943-3519_Milford_Carlsbad_Ca_92010

[sdrealtor]

HUhhh? Are you actually asking whether to buy an old house now or to wait a while until the new house aren’t new anymore (aka older)?

[sdrealtor]

HUhhh? Are you actually asking whether to buy an old house now or to wait a while until the new house aren’t new anymore (aka older)?

[sdrealtor]

HUhhh? Are you actually asking whether to buy an old house now or to wait a while until the new house aren’t new anymore (aka older)?

[sdrealtor]

HUhhh? Are you actually asking whether to buy an old house now or to wait a while until the new house aren’t new anymore (aka older)?

[sdrealtor]

HUhhh? Are you actually asking whether to buy an old house now or to wait a while until the new house aren’t new anymore (aka older)?

[SD Realtor]

Hi Occams

I think I understand what you are asking which is, to jump into some of the stock that may have been built in the 70’s and 80’s now (or in the near future) verses waiting and purchasing some of the stock that is maybe less then 10 years old.

So I think that the question is subjective because my own personal purchase is taste driven. For instance for me personally I want a larger lot, no recurring costs such as MR and HOA, (though if need be I would tolerate a small HOA) and spacing between my home and the neighbors. Those factors alone filter out most housing, (that I can afford) built in the last 20 years.

While it is true that some of the older stock you have referred to is less expensive then the newer stock, I tend to think both types will depreciate in an equivalent manner. It could even be argued that the newer stock could fall a bit faster and harder as one may speculate that these purchases were made more recently and thus prone to distress. This is an arguable point. Both newer and older homes also are subject to wishful analysis where sellers list with the highest offer quoted by an agent. There is a home that hit the MLS less then 10 days ago in Carlsbad that I visited with, (a perfect example of an older home just blocks from newer homes). They didn’t list with me because my price recommendation was lower then what other agents told them. When I showed them the data I used they understood it and when I asked why they felt the other agent could fetch a higher price using the same comp data they said the agent told them there are many cases where homes sell above comps. Perhaps they will get the higher price that the listing agent recommended.

So I guess my answer is not really anything concrete with respect to new verses old. If you are finding that your price point of what you can afford only permits older homes due to the price point then I thoroughly understand. In many parts of Carlsbad though, I can see pricing coming down in the next 2 years of alot of the newer stuff given no (more) federal intervention of which I am becoming more and more concerned with. Yet if you are really considering buying now then yeah you may get more square foot for less money with the older homes. Both new and old will fall though.

[SD Realtor]

Hi Occams

I think I understand what you are asking which is, to jump into some of the stock that may have been built in the 70’s and 80’s now (or in the near future) verses waiting and purchasing some of the stock that is maybe less then 10 years old.

So I think that the question is subjective because my own personal purchase is taste driven. For instance for me personally I want a larger lot, no recurring costs such as MR and HOA, (though if need be I would tolerate a small HOA) and spacing between my home and the neighbors. Those factors alone filter out most housing, (that I can afford) built in the last 20 years.

While it is true that some of the older stock you have referred to is less expensive then the newer stock, I tend to think both types will depreciate in an equivalent manner. It could even be argued that the newer stock could fall a bit faster and harder as one may speculate that these purchases were made more recently and thus prone to distress. This is an arguable point. Both newer and older homes also are subject to wishful analysis where sellers list with the highest offer quoted by an agent. There is a home that hit the MLS less then 10 days ago in Carlsbad that I visited with, (a perfect example of an older home just blocks from newer homes). They didn’t list with me because my price recommendation was lower then what other agents told them. When I showed them the data I used they understood it and when I asked why they felt the other agent could fetch a higher price using the same comp data they said the agent told them there are many cases where homes sell above comps. Perhaps they will get the higher price that the listing agent recommended.

So I guess my answer is not really anything concrete with respect to new verses old. If you are finding that your price point of what you can afford only permits older homes due to the price point then I thoroughly understand. In many parts of Carlsbad though, I can see pricing coming down in the next 2 years of alot of the newer stuff given no (more) federal intervention of which I am becoming more and more concerned with. Yet if you are really considering buying now then yeah you may get more square foot for less money with the older homes. Both new and old will fall though.

[SD Realtor]

Hi Occams

I think I understand what you are asking which is, to jump into some of the stock that may have been built in the 70’s and 80’s now (or in the near future) verses waiting and purchasing some of the stock that is maybe less then 10 years old.

So I think that the question is subjective because my own personal purchase is taste driven. For instance for me personally I want a larger lot, no recurring costs such as MR and HOA, (though if need be I would tolerate a small HOA) and spacing between my home and the neighbors. Those factors alone filter out most housing, (that I can afford) built in the last 20 years.

While it is true that some of the older stock you have referred to is less expensive then the newer stock, I tend to think both types will depreciate in an equivalent manner. It could even be argued that the newer stock could fall a bit faster and harder as one may speculate that these purchases were made more recently and thus prone to distress. This is an arguable point. Both newer and older homes also are subject to wishful analysis where sellers list with the highest offer quoted by an agent. There is a home that hit the MLS less then 10 days ago in Carlsbad that I visited with, (a perfect example of an older home just blocks from newer homes). They didn’t list with me because my price recommendation was lower then what other agents told them. When I showed them the data I used they understood it and when I asked why they felt the other agent could fetch a higher price using the same comp data they said the agent told them there are many cases where homes sell above comps. Perhaps they will get the higher price that the listing agent recommended.

So I guess my answer is not really anything concrete with respect to new verses old. If you are finding that your price point of what you can afford only permits older homes due to the price point then I thoroughly understand. In many parts of Carlsbad though, I can see pricing coming down in the next 2 years of alot of the newer stuff given no (more) federal intervention of which I am becoming more and more concerned with. Yet if you are really considering buying now then yeah you may get more square foot for less money with the older homes. Both new and old will fall though.

[SD Realtor]

Hi Occams

I think I understand what you are asking which is, to jump into some of the stock that may have been built in the 70’s and 80’s now (or in the near future) verses waiting and purchasing some of the stock that is maybe less then 10 years old.

So I think that the question is subjective because my own personal purchase is taste driven. For instance for me personally I want a larger lot, no recurring costs such as MR and HOA, (though if need be I would tolerate a small HOA) and spacing between my home and the neighbors. Those factors alone filter out most housing, (that I can afford) built in the last 20 years.

While it is true that some of the older stock you have referred to is less expensive then the newer stock, I tend to think both types will depreciate in an equivalent manner. It could even be argued that the newer stock could fall a bit faster and harder as one may speculate that these purchases were made more recently and thus prone to distress. This is an arguable point. Both newer and older homes also are subject to wishful analysis where sellers list with the highest offer quoted by an agent. There is a home that hit the MLS less then 10 days ago in Carlsbad that I visited with, (a perfect example of an older home just blocks from newer homes). They didn’t list with me because my price recommendation was lower then what other agents told them. When I showed them the data I used they understood it and when I asked why they felt the other agent could fetch a higher price using the same comp data they said the agent told them there are many cases where homes sell above comps. Perhaps they will get the higher price that the listing agent recommended.

So I guess my answer is not really anything concrete with respect to new verses old. If you are finding that your price point of what you can afford only permits older homes due to the price point then I thoroughly understand. In many parts of Carlsbad though, I can see pricing coming down in the next 2 years of alot of the newer stuff given no (more) federal intervention of which I am becoming more and more concerned with. Yet if you are really considering buying now then yeah you may get more square foot for less money with the older homes. Both new and old will fall though.

[SD Realtor]

Hi Occams

I think I understand what you are asking which is, to jump into some of the stock that may have been built in the 70’s and 80’s now (or in the near future) verses waiting and purchasing some of the stock that is maybe less then 10 years old.

So I think that the question is subjective because my own personal purchase is taste driven. For instance for me personally I want a larger lot, no recurring costs such as MR and HOA, (though if need be I would tolerate a small HOA) and spacing between my home and the neighbors. Those factors alone filter out most housing, (that I can afford) built in the last 20 years.

While it is true that some of the older stock you have referred to is less expensive then the newer stock, I tend to think both types will depreciate in an equivalent manner. It could even be argued that the newer stock could fall a bit faster and harder as one may speculate that these purchases were made more recently and thus prone to distress. This is an arguable point. Both newer and older homes also are subject to wishful analysis where sellers list with the highest offer quoted by an agent. There is a home that hit the MLS less then 10 days ago in Carlsbad that I visited with, (a perfect example of an older home just blocks from newer homes). They didn’t list with me because my price recommendation was lower then what other agents told them. When I showed them the data I used they understood it and when I asked why they felt the other agent could fetch a higher price using the same comp data they said the agent told them there are many cases where homes sell above comps. Perhaps they will get the higher price that the listing agent recommended.

So I guess my answer is not really anything concrete with respect to new verses old. If you are finding that your price point of what you can afford only permits older homes due to the price point then I thoroughly understand. In many parts of Carlsbad though, I can see pricing coming down in the next 2 years of alot of the newer stuff given no (more) federal intervention of which I am becoming more and more concerned with. Yet if you are really considering buying now then yeah you may get more square foot for less money with the older homes. Both new and old will fall though.

[Occams Realtor]

Thanks SD. You reiterated many of my points of reasoning and the unknowns to consider. The big unknown is whether newer homes in Carlsbad will drop down into my price range. My price range does allow for the purchase of an older single family home right now but if I waited I might be able to purchase a new home where less upgrades/refurbishing is required. I too have some qualities that will determine my purchases and, like you, no MR and low HOAs are huge considerations (older homes).

MR is the biggest farce! Sorry to get on my soap box about this but I recently found out what they are. Correct me if I am wrong but they last for 30 years, should have been paid by the developers, and were a means for the city to lure developers to their area. Was any luring needed during the booming housing market recently? I don’t get what the city was thinking. Why not make the developers pay the fees instead of strapping the citizens with them for 30 years… no mello roos for me!

You might be familiar with the Mystic Point development in Carlsbad. They are condos built at the height and virtually all buyers are upside down, if they have not foreclosed or had to short sale already. The HOAs are around 200/month and some of the MR fees are about the same. That 400/per month cost will not cease for thirty years and the HOA fees will probably increase. Who is willing to take that on for a condo so close to other units you can hear your neighbor’s toilet flush?

[Occams Realtor]

Thanks SD. You reiterated many of my points of reasoning and the unknowns to consider. The big unknown is whether newer homes in Carlsbad will drop down into my price range. My price range does allow for the purchase of an older single family home right now but if I waited I might be able to purchase a new home where less upgrades/refurbishing is required. I too have some qualities that will determine my purchases and, like you, no MR and low HOAs are huge considerations (older homes).

MR is the biggest farce! Sorry to get on my soap box about this but I recently found out what they are. Correct me if I am wrong but they last for 30 years, should have been paid by the developers, and were a means for the city to lure developers to their area. Was any luring needed during the booming housing market recently? I don’t get what the city was thinking. Why not make the developers pay the fees instead of strapping the citizens with them for 30 years… no mello roos for me!

You might be familiar with the Mystic Point development in Carlsbad. They are condos built at the height and virtually all buyers are upside down, if they have not foreclosed or had to short sale already. The HOAs are around 200/month and some of the MR fees are about the same. That 400/per month cost will not cease for thirty years and the HOA fees will probably increase. Who is willing to take that on for a condo so close to other units you can hear your neighbor’s toilet flush?

[Occams Realtor]

Thanks SD. You reiterated many of my points of reasoning and the unknowns to consider. The big unknown is whether newer homes in Carlsbad will drop down into my price range. My price range does allow for the purchase of an older single family home right now but if I waited I might be able to purchase a new home where less upgrades/refurbishing is required. I too have some qualities that will determine my purchases and, like you, no MR and low HOAs are huge considerations (older homes).

MR is the biggest farce! Sorry to get on my soap box about this but I recently found out what they are. Correct me if I am wrong but they last for 30 years, should have been paid by the developers, and were a means for the city to lure developers to their area. Was any luring needed during the booming housing market recently? I don’t get what the city was thinking. Why not make the developers pay the fees instead of strapping the citizens with them for 30 years… no mello roos for me!

You might be familiar with the Mystic Point development in Carlsbad. They are condos built at the height and virtually all buyers are upside down, if they have not foreclosed or had to short sale already. The HOAs are around 200/month and some of the MR fees are about the same. That 400/per month cost will not cease for thirty years and the HOA fees will probably increase. Who is willing to take that on for a condo so close to other units you can hear your neighbor’s toilet flush?

[Occams Realtor]

Thanks SD. You reiterated many of my points of reasoning and the unknowns to consider. The big unknown is whether newer homes in Carlsbad will drop down into my price range. My price range does allow for the purchase of an older single family home right now but if I waited I might be able to purchase a new home where less upgrades/refurbishing is required. I too have some qualities that will determine my purchases and, like you, no MR and low HOAs are huge considerations (older homes).

MR is the biggest farce! Sorry to get on my soap box about this but I recently found out what they are. Correct me if I am wrong but they last for 30 years, should have been paid by the developers, and were a means for the city to lure developers to their area. Was any luring needed during the booming housing market recently? I don’t get what the city was thinking. Why not make the developers pay the fees instead of strapping the citizens with them for 30 years… no mello roos for me!

You might be familiar with the Mystic Point development in Carlsbad. They are condos built at the height and virtually all buyers are upside down, if they have not foreclosed or had to short sale already. The HOAs are around 200/month and some of the MR fees are about the same. That 400/per month cost will not cease for thirty years and the HOA fees will probably increase. Who is willing to take that on for a condo so close to other units you can hear your neighbor’s toilet flush?

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