price collapse in Chula Vista

[recordsclerk]

Rollingboricua,

Since I have been seriously shopping in this area for the last 3 months and studying this area since 2004, I will try to answer your question. This would be a guess just like anyone else. 91914 has held up better then 91913 and 91915. I think this is due to the fact that there is no Mello Roos except in the Miguel Ranch and Woods areas. I’m am only looking at larger homes 3000sqft and over, so I might be wrong about anything smaller and my samples would be from homes 3000sqft and larger. The homes in the Woods area have dropped dramatically and there are REOs listed at 30-40% loss since last/original saler. There are a lot of short sales in that area also. The newer 91914 area east of Hunte and North of Proctor Valley (EH) are just starting to get under way due to the fact that they were sold 2005 and later. Castillian seems to be the first build that is showing distress. I think Quintessa is next and only a few months away from showing distress. Clearstory and Provence will come after that, but I don’t think there will be as many distressed sellers due to loan resets, I think they will just simply walk away because their homes are 20-30% underwater and they will not want to continue to pay when it makes more since just walking away and saving a few 100K.
The gated homes in (Tessera?) off Duncan Ranch have held up until recently. These homes were going for 900k and up. There are about 8 active listings and 2 or 3 are for under 700K. Just last month you wouldn’t see any listings under 700k, I think the lowest was 750k+.
The homes off Duncan Ranch north of Protor Valley (Magnolia Hills?) have also held up pretty good. I have not seen anything under 700K.
The homes in Miguel Ranch that were built 2003-2005ish have not fared as good. There are still some owners in denial in that area, but REO’s are listing in the high 500K- low 600s.
In 91915 and 91913 you can find listings for 3000sqft homes in the low to mid 500s. The Windingwalk area is a mess. There are so many listings in a 6 block radius. Most of them are short sales, but there are some REOs and obviously future REOs.
I do think that this area will drop more, especially the homes (builds) that have held up the most in 91914. I think that homes in 91914 will still be more desirable/valuable then 91913 and 91915, but I think they will catch up to the % drops seen in those Zips. I think this area will probably drop another 20% and will end up down about 40-60% from it’s highs. I also think that you may find $110 sqft for some REOs at the bottom.

[recordsclerk]

Rollingboricua,

Since I have been seriously shopping in this area for the last 3 months and studying this area since 2004, I will try to answer your question. This would be a guess just like anyone else. 91914 has held up better then 91913 and 91915. I think this is due to the fact that there is no Mello Roos except in the Miguel Ranch and Woods areas. I’m am only looking at larger homes 3000sqft and over, so I might be wrong about anything smaller and my samples would be from homes 3000sqft and larger. The homes in the Woods area have dropped dramatically and there are REOs listed at 30-40% loss since last/original saler. There are a lot of short sales in that area also. The newer 91914 area east of Hunte and North of Proctor Valley (EH) are just starting to get under way due to the fact that they were sold 2005 and later. Castillian seems to be the first build that is showing distress. I think Quintessa is next and only a few months away from showing distress. Clearstory and Provence will come after that, but I don’t think there will be as many distressed sellers due to loan resets, I think they will just simply walk away because their homes are 20-30% underwater and they will not want to continue to pay when it makes more since just walking away and saving a few 100K.
The gated homes in (Tessera?) off Duncan Ranch have held up until recently. These homes were going for 900k and up. There are about 8 active listings and 2 or 3 are for under 700K. Just last month you wouldn’t see any listings under 700k, I think the lowest was 750k+.
The homes off Duncan Ranch north of Protor Valley (Magnolia Hills?) have also held up pretty good. I have not seen anything under 700K.
The homes in Miguel Ranch that were built 2003-2005ish have not fared as good. There are still some owners in denial in that area, but REO’s are listing in the high 500K- low 600s.
In 91915 and 91913 you can find listings for 3000sqft homes in the low to mid 500s. The Windingwalk area is a mess. There are so many listings in a 6 block radius. Most of them are short sales, but there are some REOs and obviously future REOs.
I do think that this area will drop more, especially the homes (builds) that have held up the most in 91914. I think that homes in 91914 will still be more desirable/valuable then 91913 and 91915, but I think they will catch up to the % drops seen in those Zips. I think this area will probably drop another 20% and will end up down about 40-60% from it’s highs. I also think that you may find $110 sqft for some REOs at the bottom.

[recordsclerk]

Rollingboricua,

Since I have been seriously shopping in this area for the last 3 months and studying this area since 2004, I will try to answer your question. This would be a guess just like anyone else. 91914 has held up better then 91913 and 91915. I think this is due to the fact that there is no Mello Roos except in the Miguel Ranch and Woods areas. I’m am only looking at larger homes 3000sqft and over, so I might be wrong about anything smaller and my samples would be from homes 3000sqft and larger. The homes in the Woods area have dropped dramatically and there are REOs listed at 30-40% loss since last/original saler. There are a lot of short sales in that area also. The newer 91914 area east of Hunte and North of Proctor Valley (EH) are just starting to get under way due to the fact that they were sold 2005 and later. Castillian seems to be the first build that is showing distress. I think Quintessa is next and only a few months away from showing distress. Clearstory and Provence will come after that, but I don’t think there will be as many distressed sellers due to loan resets, I think they will just simply walk away because their homes are 20-30% underwater and they will not want to continue to pay when it makes more since just walking away and saving a few 100K.
The gated homes in (Tessera?) off Duncan Ranch have held up until recently. These homes were going for 900k and up. There are about 8 active listings and 2 or 3 are for under 700K. Just last month you wouldn’t see any listings under 700k, I think the lowest was 750k+.
The homes off Duncan Ranch north of Protor Valley (Magnolia Hills?) have also held up pretty good. I have not seen anything under 700K.
The homes in Miguel Ranch that were built 2003-2005ish have not fared as good. There are still some owners in denial in that area, but REO’s are listing in the high 500K- low 600s.
In 91915 and 91913 you can find listings for 3000sqft homes in the low to mid 500s. The Windingwalk area is a mess. There are so many listings in a 6 block radius. Most of them are short sales, but there are some REOs and obviously future REOs.
I do think that this area will drop more, especially the homes (builds) that have held up the most in 91914. I think that homes in 91914 will still be more desirable/valuable then 91913 and 91915, but I think they will catch up to the % drops seen in those Zips. I think this area will probably drop another 20% and will end up down about 40-60% from it’s highs. I also think that you may find $110 sqft for some REOs at the bottom.

[Anonymous]

Thank you for you iput recordsclerk. My target area is strictly 91914 — San Miguel Ranch and North of Proctor Valley Road. I’ve been eyeing this are for about a year now and have been watching how this area’s been dropping. My concern is that because most of these homes were built during the peak, they might only drop as far as what they originally sold for. I’m not in the market for a 3000sqft home, mine is a more modest 2400-2500 sqft home and I’ve seen a few going for, the lowest, 479K in San Miguel Ranch, so I’m wondering how much further it’ll drop, specially because I keep seeing how many homes go pending once it drops to a certain price. And then there are those that go pending and fall out of it, but those are few.

[Anonymous]

Thank you for you iput recordsclerk. My target area is strictly 91914 — San Miguel Ranch and North of Proctor Valley Road. I’ve been eyeing this are for about a year now and have been watching how this area’s been dropping. My concern is that because most of these homes were built during the peak, they might only drop as far as what they originally sold for. I’m not in the market for a 3000sqft home, mine is a more modest 2400-2500 sqft home and I’ve seen a few going for, the lowest, 479K in San Miguel Ranch, so I’m wondering how much further it’ll drop, specially because I keep seeing how many homes go pending once it drops to a certain price. And then there are those that go pending and fall out of it, but those are few.

[Anonymous]

Thank you for you iput recordsclerk. My target area is strictly 91914 — San Miguel Ranch and North of Proctor Valley Road. I’ve been eyeing this are for about a year now and have been watching how this area’s been dropping. My concern is that because most of these homes were built during the peak, they might only drop as far as what they originally sold for. I’m not in the market for a 3000sqft home, mine is a more modest 2400-2500 sqft home and I’ve seen a few going for, the lowest, 479K in San Miguel Ranch, so I’m wondering how much further it’ll drop, specially because I keep seeing how many homes go pending once it drops to a certain price. And then there are those that go pending and fall out of it, but those are few.

[Anonymous]

Thank you for you iput recordsclerk. My target area is strictly 91914 — San Miguel Ranch and North of Proctor Valley Road. I’ve been eyeing this are for about a year now and have been watching how this area’s been dropping. My concern is that because most of these homes were built during the peak, they might only drop as far as what they originally sold for. I’m not in the market for a 3000sqft home, mine is a more modest 2400-2500 sqft home and I’ve seen a few going for, the lowest, 479K in San Miguel Ranch, so I’m wondering how much further it’ll drop, specially because I keep seeing how many homes go pending once it drops to a certain price. And then there are those that go pending and fall out of it, but those are few.

[Anonymous]

Thank you for you iput recordsclerk. My target area is strictly 91914 — San Miguel Ranch and North of Proctor Valley Road. I’ve been eyeing this are for about a year now and have been watching how this area’s been dropping. My concern is that because most of these homes were built during the peak, they might only drop as far as what they originally sold for. I’m not in the market for a 3000sqft home, mine is a more modest 2400-2500 sqft home and I’ve seen a few going for, the lowest, 479K in San Miguel Ranch, so I’m wondering how much further it’ll drop, specially because I keep seeing how many homes go pending once it drops to a certain price. And then there are those that go pending and fall out of it, but those are few.

[recordsclerk]

The homes purchased between 2004-2007 are selling for below the original purchase price. The REOs are selling at a loss and pricing is starting to go back to 2003 prices. Good luck with your search.

[recordsclerk]

The homes purchased between 2004-2007 are selling for below the original purchase price. The REOs are selling at a loss and pricing is starting to go back to 2003 prices. Good luck with your search.

[recordsclerk]

The homes purchased between 2004-2007 are selling for below the original purchase price. The REOs are selling at a loss and pricing is starting to go back to 2003 prices. Good luck with your search.

[recordsclerk]

The homes purchased between 2004-2007 are selling for below the original purchase price. The REOs are selling at a loss and pricing is starting to go back to 2003 prices. Good luck with your search.

[recordsclerk]

The homes purchased between 2004-2007 are selling for below the original purchase price. The REOs are selling at a loss and pricing is starting to go back to 2003 prices. Good luck with your search.

[Eugene]

I predict homes will soon be free in Chula Vista. If there is an overcorrection, free houses will come with cash “signing bonuses” for the prospective buyers.

You do need to pay for FastTrack to get in and out of Chula Vista. Perhaps you could negotiate with the seller that you live in his house for free and he pays for your commute.

[Eugene]

I predict homes will soon be free in Chula Vista. If there is an overcorrection, free houses will come with cash “signing bonuses” for the prospective buyers.

You do need to pay for FastTrack to get in and out of Chula Vista. Perhaps you could negotiate with the seller that you live in his house for free and he pays for your commute.

[Author]

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