Price per square foot

[waitingpatiently]

Does the price per square foot drop as the square footage increase? For example, these 2 houses in LCV…

Corte Limon 2788sqft sold $838,000—$301ppsqft
Camino Serbal 3904sqft sold $1,025,000—$263ppsqft

One question for you LCV experts. If most of the county reverts back to 2003 prices how can LCV maintain higher prices?

[SD Realtor]

In general price per square foot is not to linear from the perspective of 0 square feet on upwards. Also ppsf is useful but it does not factor in lot size, orientation or condition of the home, views, ammenities, etc.

As far as CV finding lower price levels, just like all of the other desireable areas, LCV will find lower pricings based on the demand for LCV homes. It is often frustrating about the pace of declines for spots like this. There are inklings of some lower priced sales from the few distressed LCV sales. Our hope is for those to become more numerous as time marches on.

[SD Realtor]

In general price per square foot is not to linear from the perspective of 0 square feet on upwards. Also ppsf is useful but it does not factor in lot size, orientation or condition of the home, views, ammenities, etc.

As far as CV finding lower price levels, just like all of the other desireable areas, LCV will find lower pricings based on the demand for LCV homes. It is often frustrating about the pace of declines for spots like this. There are inklings of some lower priced sales from the few distressed LCV sales. Our hope is for those to become more numerous as time marches on.

[SD Realtor]

In general price per square foot is not to linear from the perspective of 0 square feet on upwards. Also ppsf is useful but it does not factor in lot size, orientation or condition of the home, views, ammenities, etc.

As far as CV finding lower price levels, just like all of the other desireable areas, LCV will find lower pricings based on the demand for LCV homes. It is often frustrating about the pace of declines for spots like this. There are inklings of some lower priced sales from the few distressed LCV sales. Our hope is for those to become more numerous as time marches on.

[SD Realtor]

In general price per square foot is not to linear from the perspective of 0 square feet on upwards. Also ppsf is useful but it does not factor in lot size, orientation or condition of the home, views, ammenities, etc.

As far as CV finding lower price levels, just like all of the other desireable areas, LCV will find lower pricings based on the demand for LCV homes. It is often frustrating about the pace of declines for spots like this. There are inklings of some lower priced sales from the few distressed LCV sales. Our hope is for those to become more numerous as time marches on.

[SD Realtor]

In general price per square foot is not to linear from the perspective of 0 square feet on upwards. Also ppsf is useful but it does not factor in lot size, orientation or condition of the home, views, ammenities, etc.

As far as CV finding lower price levels, just like all of the other desireable areas, LCV will find lower pricings based on the demand for LCV homes. It is often frustrating about the pace of declines for spots like this. There are inklings of some lower priced sales from the few distressed LCV sales. Our hope is for those to become more numerous as time marches on.

[sdrealtor]

Price per sq ft defintely descreases as size increases due to all the fixed costs that dont depend upon size.

To answer your 2nd question, prime locations in LCV are stilling selling at or near peak prices. There are a ton of folks dying to get into LCV at an affordable price to them and a great home. Unfortunately, there are also alot of folks looking for those same homes who are far less price sensitive. If you are a well paid professional with young kids there probably isnt a better community to live in along the coast. The place is a veritable magnet for Relocated execs also who crave a nice community with nice amenities, great schools and nice homes. Each year a dozen or two execs come to LCV from major markets (SF, NYC, Boston, London, Paris, Scandavian metros, Asian metros). The come loaded with suitcases of cash from sales of their prior homes, big incomes and big relo packages. That wont change. It wont support the market but in a neighborhood where more than half of the people paid about 400K and are dug in with low/no mortgages turnover runs from 40 to 80 homes per year of which maybe half are very desireable. There are plenty of buyers for those homes as there always will be IMO. The other issue is when folks move alot of the longtime owners recognize the long term value and just rent there homes for $1000+ positive monthly cash flow.

[sdrealtor]

Price per sq ft defintely descreases as size increases due to all the fixed costs that dont depend upon size.

To answer your 2nd question, prime locations in LCV are stilling selling at or near peak prices. There are a ton of folks dying to get into LCV at an affordable price to them and a great home. Unfortunately, there are also alot of folks looking for those same homes who are far less price sensitive. If you are a well paid professional with young kids there probably isnt a better community to live in along the coast. The place is a veritable magnet for Relocated execs also who crave a nice community with nice amenities, great schools and nice homes. Each year a dozen or two execs come to LCV from major markets (SF, NYC, Boston, London, Paris, Scandavian metros, Asian metros). The come loaded with suitcases of cash from sales of their prior homes, big incomes and big relo packages. That wont change. It wont support the market but in a neighborhood where more than half of the people paid about 400K and are dug in with low/no mortgages turnover runs from 40 to 80 homes per year of which maybe half are very desireable. There are plenty of buyers for those homes as there always will be IMO. The other issue is when folks move alot of the longtime owners recognize the long term value and just rent there homes for $1000+ positive monthly cash flow.

[sdrealtor]

Price per sq ft defintely descreases as size increases due to all the fixed costs that dont depend upon size.

To answer your 2nd question, prime locations in LCV are stilling selling at or near peak prices. There are a ton of folks dying to get into LCV at an affordable price to them and a great home. Unfortunately, there are also alot of folks looking for those same homes who are far less price sensitive. If you are a well paid professional with young kids there probably isnt a better community to live in along the coast. The place is a veritable magnet for Relocated execs also who crave a nice community with nice amenities, great schools and nice homes. Each year a dozen or two execs come to LCV from major markets (SF, NYC, Boston, London, Paris, Scandavian metros, Asian metros). The come loaded with suitcases of cash from sales of their prior homes, big incomes and big relo packages. That wont change. It wont support the market but in a neighborhood where more than half of the people paid about 400K and are dug in with low/no mortgages turnover runs from 40 to 80 homes per year of which maybe half are very desireable. There are plenty of buyers for those homes as there always will be IMO. The other issue is when folks move alot of the longtime owners recognize the long term value and just rent there homes for $1000+ positive monthly cash flow.

[sdrealtor]

Price per sq ft defintely descreases as size increases due to all the fixed costs that dont depend upon size.

To answer your 2nd question, prime locations in LCV are stilling selling at or near peak prices. There are a ton of folks dying to get into LCV at an affordable price to them and a great home. Unfortunately, there are also alot of folks looking for those same homes who are far less price sensitive. If you are a well paid professional with young kids there probably isnt a better community to live in along the coast. The place is a veritable magnet for Relocated execs also who crave a nice community with nice amenities, great schools and nice homes. Each year a dozen or two execs come to LCV from major markets (SF, NYC, Boston, London, Paris, Scandavian metros, Asian metros). The come loaded with suitcases of cash from sales of their prior homes, big incomes and big relo packages. That wont change. It wont support the market but in a neighborhood where more than half of the people paid about 400K and are dug in with low/no mortgages turnover runs from 40 to 80 homes per year of which maybe half are very desireable. There are plenty of buyers for those homes as there always will be IMO. The other issue is when folks move alot of the longtime owners recognize the long term value and just rent there homes for $1000+ positive monthly cash flow.

[sdrealtor]

Price per sq ft defintely descreases as size increases due to all the fixed costs that dont depend upon size.

To answer your 2nd question, prime locations in LCV are stilling selling at or near peak prices. There are a ton of folks dying to get into LCV at an affordable price to them and a great home. Unfortunately, there are also alot of folks looking for those same homes who are far less price sensitive. If you are a well paid professional with young kids there probably isnt a better community to live in along the coast. The place is a veritable magnet for Relocated execs also who crave a nice community with nice amenities, great schools and nice homes. Each year a dozen or two execs come to LCV from major markets (SF, NYC, Boston, London, Paris, Scandavian metros, Asian metros). The come loaded with suitcases of cash from sales of their prior homes, big incomes and big relo packages. That wont change. It wont support the market but in a neighborhood where more than half of the people paid about 400K and are dug in with low/no mortgages turnover runs from 40 to 80 homes per year of which maybe half are very desireable. There are plenty of buyers for those homes as there always will be IMO. The other issue is when folks move alot of the longtime owners recognize the long term value and just rent there homes for $1000+ positive monthly cash flow.

[Ren]

I’ve been watching Carlsbad/La Costa for many years, and while I don’t have the experience that you folks do, it seems obvious that while that area will always command a premium over inland areas, homes there will see very nearly as big a decline, if not just as big, percentage-wise. In the late 90’s, 2-3k sq ft homes in nice neighborhoods were going for $300-400k, and I just can’t see any reason why they won’t end up at $400-500k. It will just take a few more years. The coast always echoed inland price drops in the past, and I find the same reasons for well-off people relocating there also existed when prices weren’t exorbitant.

[Ren]

I’ve been watching Carlsbad/La Costa for many years, and while I don’t have the experience that you folks do, it seems obvious that while that area will always command a premium over inland areas, homes there will see very nearly as big a decline, if not just as big, percentage-wise. In the late 90’s, 2-3k sq ft homes in nice neighborhoods were going for $300-400k, and I just can’t see any reason why they won’t end up at $400-500k. It will just take a few more years. The coast always echoed inland price drops in the past, and I find the same reasons for well-off people relocating there also existed when prices weren’t exorbitant.

[Ren]

I’ve been watching Carlsbad/La Costa for many years, and while I don’t have the experience that you folks do, it seems obvious that while that area will always command a premium over inland areas, homes there will see very nearly as big a decline, if not just as big, percentage-wise. In the late 90’s, 2-3k sq ft homes in nice neighborhoods were going for $300-400k, and I just can’t see any reason why they won’t end up at $400-500k. It will just take a few more years. The coast always echoed inland price drops in the past, and I find the same reasons for well-off people relocating there also existed when prices weren’t exorbitant.

[Ren]

I’ve been watching Carlsbad/La Costa for many years, and while I don’t have the experience that you folks do, it seems obvious that while that area will always command a premium over inland areas, homes there will see very nearly as big a decline, if not just as big, percentage-wise. In the late 90’s, 2-3k sq ft homes in nice neighborhoods were going for $300-400k, and I just can’t see any reason why they won’t end up at $400-500k. It will just take a few more years. The coast always echoed inland price drops in the past, and I find the same reasons for well-off people relocating there also existed when prices weren’t exorbitant.

[Author]

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