Repos and Resales, mind the gap

[temeculaguy]

I have been tracking the increasing gap between occupied homes for sale and the repos. Mony sellers have pulled their listings but the ones that haven’t are almost comical in their asking prices compared to the repos. I can understand sellers not conducting an analysis of the local market but how do you not notice the exact same house two doors away or on the next street for half the price, someone needs to walk the dog more often.

Some startling examples:

House A, 800k, nice pool and some upgrades

http://www.redfin.com/stingray/do/printable-listing?listing-id=1003623

House B, 417K, the exact same house on a different street but without the interior pictures, they both are on the golf course. How bad can it be inside?

http://www.redfin.com/stingray/do/printable-listing?listing-id=1353217

House A, 625k, expecting a 225k profit since 2003

http://www.redfin.com/stingray/do/printable-listing?listing-id=1195051

House B 375K two houses away on the same street and a model match.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1331172

[an]

wow, that’s some major disparity. I wonder this myself. How could you not know your competitor. For 300-400k, you’ d have one rocking interior.

[Ex-SD]

Denial, denial, denial. Eventually, they will either step into reality or they will go into foreclosure. Temecula has a good chance of going to $100-$110 a square foot by the time it hits where whale crap lands (on the bottom). 🙂

[djc]

I see we are looking in the same area.

I went to look at the Vineyards at Morgan Valley. Big houses, new, final phase. ~500s.

Around the corner, 2-4 year old houses, 600-800k.

[djc]

I see we are looking in the same area.

I went to look at the Vineyards at Morgan Valley. Big houses, new, final phase. ~500s.

Around the corner, 2-4 year old houses, 600-800k.

[djc]

I see we are looking in the same area.

I went to look at the Vineyards at Morgan Valley. Big houses, new, final phase. ~500s.

Around the corner, 2-4 year old houses, 600-800k.

[djc]

I see we are looking in the same area.

I went to look at the Vineyards at Morgan Valley. Big houses, new, final phase. ~500s.

Around the corner, 2-4 year old houses, 600-800k.

[djc]

I see we are looking in the same area.

I went to look at the Vineyards at Morgan Valley. Big houses, new, final phase. ~500s.

Around the corner, 2-4 year old houses, 600-800k.

[Ex-SD]

Denial, denial, denial. Eventually, they will either step into reality or they will go into foreclosure. Temecula has a good chance of going to $100-$110 a square foot by the time it hits where whale crap lands (on the bottom). 🙂

[Ex-SD]

Denial, denial, denial. Eventually, they will either step into reality or they will go into foreclosure. Temecula has a good chance of going to $100-$110 a square foot by the time it hits where whale crap lands (on the bottom). 🙂

[Ex-SD]

Denial, denial, denial. Eventually, they will either step into reality or they will go into foreclosure. Temecula has a good chance of going to $100-$110 a square foot by the time it hits where whale crap lands (on the bottom). 🙂

[Ex-SD]

Denial, denial, denial. Eventually, they will either step into reality or they will go into foreclosure. Temecula has a good chance of going to $100-$110 a square foot by the time it hits where whale crap lands (on the bottom). 🙂

[an]

wow, that’s some major disparity. I wonder this myself. How could you not know your competitor. For 300-400k, you’ d have one rocking interior.

[an]

wow, that’s some major disparity. I wonder this myself. How could you not know your competitor. For 300-400k, you’ d have one rocking interior.

[an]

wow, that’s some major disparity. I wonder this myself. How could you not know your competitor. For 300-400k, you’ d have one rocking interior.

[an]

wow, that’s some major disparity. I wonder this myself. How could you not know your competitor. For 300-400k, you’ d have one rocking interior.

[pizzaman]

Makes no sense..
This repo is on a canyon view lot and is listed for $445,000
http://www.redfin.com/stingray/do/printable-listing?listing-id=1315798

Model match across the street on an interior lot listed for $619,000 reduced from $635,000.
http://www.redfin.com/stingray/do/printable-listing?listing-id=1162064
I understand that some of these sellers are listing for what they must get in order to get out because they have no cash to bring to closing and/or to show the bank that they are making an attempt to sell in order to lay the groundwork for a short sale but what possibly logic could there be for reducing the price $16,000 when you are hundreds of thousands over the market.?

And by the way the repo at $445,000 is overpriced as this one came on recently at $354,000.
http://www.redfin.com/stingray/do/printable-listing?listing-id=1330404
Its about 500 sq ft smaller than the other two (2588 sq ft – not 3224 as listed vs 3165) but its on a canyon view lot. This one might actually sell.

[temeculaguy]

I think it’s a race to the bottom for those who have to sell. I know many have written that it takes years to reach the bottom but I think the internet is going to change this crash, buyers are too smart and not at the mercy of realtors and newspapers for data. In the last down cycle I don’t remember houses in the same tract going for half the price of others. That third one is $110 a square and only 70k off it’s 2001 price, those are the only ones selling and setting new comps. There has been a debate here for a while about a slow decline or big chunks, I think we are seeing big chunks as evidenced by pizza’s links and my original post. I wonder how the new law eliminating tax liability for short sales will boost the big chunks and set lower comps as we move forward.

[Navydoc]

“I wonder how the new law eliminating tax liability for short sales will boost the big chunks and set lower comps as we move forward.”

I have to believe this is removing yet another block to people just walking away, which is why I’ve always supported the concept of removing the tax punishment, as it favors speeding the collapse, and subsequent recovery. In my mind this is the ONLY government intervention that makes any sense at all. Perhaps it makes the banks the bagholders in the end, but so be it.

I’m admittedly not economically savvy enough to know which is better or the economy as a whole, a slow decline or a rapid crash, but I know which is better for me. I’ll take the crash please….

[CVFanGirl]

Sales history on House B shows 11/07/2007 $626,850

Something isn’t right obviously

[CVFanGirl]

Sales history on House B shows 11/07/2007 $626,850

Something isn’t right obviously

[CVFanGirl]

Sales history on House B shows 11/07/2007 $626,850

Something isn’t right obviously

[CVFanGirl]

Sales history on House B shows 11/07/2007 $626,850

Something isn’t right obviously

[CVFanGirl]

Sales history on House B shows 11/07/2007 $626,850

Something isn’t right obviously

[Navydoc]

“I wonder how the new law eliminating tax liability for short sales will boost the big chunks and set lower comps as we move forward.”

I have to believe this is removing yet another block to people just walking away, which is why I’ve always supported the concept of removing the tax punishment, as it favors speeding the collapse, and subsequent recovery. In my mind this is the ONLY government intervention that makes any sense at all. Perhaps it makes the banks the bagholders in the end, but so be it.

I’m admittedly not economically savvy enough to know which is better or the economy as a whole, a slow decline or a rapid crash, but I know which is better for me. I’ll take the crash please….

[Navydoc]

“I wonder how the new law eliminating tax liability for short sales will boost the big chunks and set lower comps as we move forward.”

I have to believe this is removing yet another block to people just walking away, which is why I’ve always supported the concept of removing the tax punishment, as it favors speeding the collapse, and subsequent recovery. In my mind this is the ONLY government intervention that makes any sense at all. Perhaps it makes the banks the bagholders in the end, but so be it.

I’m admittedly not economically savvy enough to know which is better or the economy as a whole, a slow decline or a rapid crash, but I know which is better for me. I’ll take the crash please….

[Navydoc]

“I wonder how the new law eliminating tax liability for short sales will boost the big chunks and set lower comps as we move forward.”

I have to believe this is removing yet another block to people just walking away, which is why I’ve always supported the concept of removing the tax punishment, as it favors speeding the collapse, and subsequent recovery. In my mind this is the ONLY government intervention that makes any sense at all. Perhaps it makes the banks the bagholders in the end, but so be it.

I’m admittedly not economically savvy enough to know which is better or the economy as a whole, a slow decline or a rapid crash, but I know which is better for me. I’ll take the crash please….

[Navydoc]

“I wonder how the new law eliminating tax liability for short sales will boost the big chunks and set lower comps as we move forward.”

I have to believe this is removing yet another block to people just walking away, which is why I’ve always supported the concept of removing the tax punishment, as it favors speeding the collapse, and subsequent recovery. In my mind this is the ONLY government intervention that makes any sense at all. Perhaps it makes the banks the bagholders in the end, but so be it.

I’m admittedly not economically savvy enough to know which is better or the economy as a whole, a slow decline or a rapid crash, but I know which is better for me. I’ll take the crash please….

[temeculaguy]

I think it’s a race to the bottom for those who have to sell. I know many have written that it takes years to reach the bottom but I think the internet is going to change this crash, buyers are too smart and not at the mercy of realtors and newspapers for data. In the last down cycle I don’t remember houses in the same tract going for half the price of others. That third one is $110 a square and only 70k off it’s 2001 price, those are the only ones selling and setting new comps. There has been a debate here for a while about a slow decline or big chunks, I think we are seeing big chunks as evidenced by pizza’s links and my original post. I wonder how the new law eliminating tax liability for short sales will boost the big chunks and set lower comps as we move forward.

[temeculaguy]

I think it’s a race to the bottom for those who have to sell. I know many have written that it takes years to reach the bottom but I think the internet is going to change this crash, buyers are too smart and not at the mercy of realtors and newspapers for data. In the last down cycle I don’t remember houses in the same tract going for half the price of others. That third one is $110 a square and only 70k off it’s 2001 price, those are the only ones selling and setting new comps. There has been a debate here for a while about a slow decline or big chunks, I think we are seeing big chunks as evidenced by pizza’s links and my original post. I wonder how the new law eliminating tax liability for short sales will boost the big chunks and set lower comps as we move forward.

[temeculaguy]

I think it’s a race to the bottom for those who have to sell. I know many have written that it takes years to reach the bottom but I think the internet is going to change this crash, buyers are too smart and not at the mercy of realtors and newspapers for data. In the last down cycle I don’t remember houses in the same tract going for half the price of others. That third one is $110 a square and only 70k off it’s 2001 price, those are the only ones selling and setting new comps. There has been a debate here for a while about a slow decline or big chunks, I think we are seeing big chunks as evidenced by pizza’s links and my original post. I wonder how the new law eliminating tax liability for short sales will boost the big chunks and set lower comps as we move forward.

[temeculaguy]

I think it’s a race to the bottom for those who have to sell. I know many have written that it takes years to reach the bottom but I think the internet is going to change this crash, buyers are too smart and not at the mercy of realtors and newspapers for data. In the last down cycle I don’t remember houses in the same tract going for half the price of others. That third one is $110 a square and only 70k off it’s 2001 price, those are the only ones selling and setting new comps. There has been a debate here for a while about a slow decline or big chunks, I think we are seeing big chunks as evidenced by pizza’s links and my original post. I wonder how the new law eliminating tax liability for short sales will boost the big chunks and set lower comps as we move forward.

[ucodegen]

@pizzaman

http://www.redfin.com/stingray/do/printable-listing?listing-id=1162064

What, the Realtor could not afford a decent point and shoot? Looks like the pictures were taken with a cheap camera phone. Only one image looks focused. What a way to represent your client!

House A, 800k, nice pool and some upgrades

http://www.redfin.com/stingray/do/printable-listing?listing-id=1003623

House B, 417K, the exact same house on a different street but without the interior pictures, they both are on the golf course. How bad can it be inside?

http://www.redfin.com/stingray/do/printable-listing?listing-id=1353217

These houses also show different sq footage, lot size and number of rooms… though from the outside, they look the same.

[bonfire]

“The 11/07/2007 sale is likely the bank taking it back at auction”.

This brings up a question I have had for a while. Are foreclosure auctions reflected in the statistics as “SALES”, when they revert back to the bank? Aparently they are, therefore skewing sales figures to a more positive side. It appears that there are more sales happening when, in fact, some of those “sales” are really forclosures. Yeah, I think it’s going to start happening in chunks.

[bonfire]

“The 11/07/2007 sale is likely the bank taking it back at auction”.

This brings up a question I have had for a while. Are foreclosure auctions reflected in the statistics as “SALES”, when they revert back to the bank? Aparently they are, therefore skewing sales figures to a more positive side. It appears that there are more sales happening when, in fact, some of those “sales” are really forclosures. Yeah, I think it’s going to start happening in chunks.

[bonfire]

“The 11/07/2007 sale is likely the bank taking it back at auction”.

This brings up a question I have had for a while. Are foreclosure auctions reflected in the statistics as “SALES”, when they revert back to the bank? Aparently they are, therefore skewing sales figures to a more positive side. It appears that there are more sales happening when, in fact, some of those “sales” are really forclosures. Yeah, I think it’s going to start happening in chunks.

[bonfire]

“The 11/07/2007 sale is likely the bank taking it back at auction”.

This brings up a question I have had for a while. Are foreclosure auctions reflected in the statistics as “SALES”, when they revert back to the bank? Aparently they are, therefore skewing sales figures to a more positive side. It appears that there are more sales happening when, in fact, some of those “sales” are really forclosures. Yeah, I think it’s going to start happening in chunks.

[bonfire]

“The 11/07/2007 sale is likely the bank taking it back at auction”.

This brings up a question I have had for a while. Are foreclosure auctions reflected in the statistics as “SALES”, when they revert back to the bank? Aparently they are, therefore skewing sales figures to a more positive side. It appears that there are more sales happening when, in fact, some of those “sales” are really forclosures. Yeah, I think it’s going to start happening in chunks.

[temeculaguy]

ucodegen, The reason they show different square footages and room #’s was when they were new there were some choices that could be made (which is common in some larger and newer homes, they like to call it “semi custom”). If you look closely at the third car garage by itself on the left, it is not a garage door on one of them, rather a window. The 800k house elected to have the third car garage made into a bedroom while the 417k one has a garage door. The footprint and exterior is the same. It’s a personal choice that doesn’t affect value too much once houses get to a certain size. Personally I’d prefer 4 bedrooms and a 3 car garage over 5 bedrooms and a two car garage. In that size of a house, a two car garage can be a drawback to some buyers, myself included.

[temeculaguy]

ucodegen, The reason they show different square footages and room #’s was when they were new there were some choices that could be made (which is common in some larger and newer homes, they like to call it “semi custom”). If you look closely at the third car garage by itself on the left, it is not a garage door on one of them, rather a window. The 800k house elected to have the third car garage made into a bedroom while the 417k one has a garage door. The footprint and exterior is the same. It’s a personal choice that doesn’t affect value too much once houses get to a certain size. Personally I’d prefer 4 bedrooms and a 3 car garage over 5 bedrooms and a two car garage. In that size of a house, a two car garage can be a drawback to some buyers, myself included.

[temeculaguy]

ucodegen, The reason they show different square footages and room #’s was when they were new there were some choices that could be made (which is common in some larger and newer homes, they like to call it “semi custom”). If you look closely at the third car garage by itself on the left, it is not a garage door on one of them, rather a window. The 800k house elected to have the third car garage made into a bedroom while the 417k one has a garage door. The footprint and exterior is the same. It’s a personal choice that doesn’t affect value too much once houses get to a certain size. Personally I’d prefer 4 bedrooms and a 3 car garage over 5 bedrooms and a two car garage. In that size of a house, a two car garage can be a drawback to some buyers, myself included.

[temeculaguy]

ucodegen, The reason they show different square footages and room #’s was when they were new there were some choices that could be made (which is common in some larger and newer homes, they like to call it “semi custom”). If you look closely at the third car garage by itself on the left, it is not a garage door on one of them, rather a window. The 800k house elected to have the third car garage made into a bedroom while the 417k one has a garage door. The footprint and exterior is the same. It’s a personal choice that doesn’t affect value too much once houses get to a certain size. Personally I’d prefer 4 bedrooms and a 3 car garage over 5 bedrooms and a two car garage. In that size of a house, a two car garage can be a drawback to some buyers, myself included.

[temeculaguy]

ucodegen, The reason they show different square footages and room #’s was when they were new there were some choices that could be made (which is common in some larger and newer homes, they like to call it “semi custom”). If you look closely at the third car garage by itself on the left, it is not a garage door on one of them, rather a window. The 800k house elected to have the third car garage made into a bedroom while the 417k one has a garage door. The footprint and exterior is the same. It’s a personal choice that doesn’t affect value too much once houses get to a certain size. Personally I’d prefer 4 bedrooms and a 3 car garage over 5 bedrooms and a two car garage. In that size of a house, a two car garage can be a drawback to some buyers, myself included.

[ucodegen]

@pizzaman

http://www.redfin.com/stingray/do/printable-listing?listing-id=1162064

What, the Realtor could not afford a decent point and shoot? Looks like the pictures were taken with a cheap camera phone. Only one image looks focused. What a way to represent your client!

House A, 800k, nice pool and some upgrades

http://www.redfin.com/stingray/do/printable-listing?listing-id=1003623

House B, 417K, the exact same house on a different street but without the interior pictures, they both are on the golf course. How bad can it be inside?

http://www.redfin.com/stingray/do/printable-listing?listing-id=1353217

These houses also show different sq footage, lot size and number of rooms… though from the outside, they look the same.

[ucodegen]

@pizzaman

http://www.redfin.com/stingray/do/printable-listing?listing-id=1162064

What, the Realtor could not afford a decent point and shoot? Looks like the pictures were taken with a cheap camera phone. Only one image looks focused. What a way to represent your client!

House A, 800k, nice pool and some upgrades

http://www.redfin.com/stingray/do/printable-listing?listing-id=1003623

House B, 417K, the exact same house on a different street but without the interior pictures, they both are on the golf course. How bad can it be inside?

http://www.redfin.com/stingray/do/printable-listing?listing-id=1353217

These houses also show different sq footage, lot size and number of rooms… though from the outside, they look the same.

[ucodegen]

@pizzaman

http://www.redfin.com/stingray/do/printable-listing?listing-id=1162064

What, the Realtor could not afford a decent point and shoot? Looks like the pictures were taken with a cheap camera phone. Only one image looks focused. What a way to represent your client!

House A, 800k, nice pool and some upgrades

http://www.redfin.com/stingray/do/printable-listing?listing-id=1003623

House B, 417K, the exact same house on a different street but without the interior pictures, they both are on the golf course. How bad can it be inside?

http://www.redfin.com/stingray/do/printable-listing?listing-id=1353217

These houses also show different sq footage, lot size and number of rooms… though from the outside, they look the same.

[ucodegen]

@pizzaman

http://www.redfin.com/stingray/do/printable-listing?listing-id=1162064

What, the Realtor could not afford a decent point and shoot? Looks like the pictures were taken with a cheap camera phone. Only one image looks focused. What a way to represent your client!

House A, 800k, nice pool and some upgrades

http://www.redfin.com/stingray/do/printable-listing?listing-id=1003623

House B, 417K, the exact same house on a different street but without the interior pictures, they both are on the golf course. How bad can it be inside?

http://www.redfin.com/stingray/do/printable-listing?listing-id=1353217

These houses also show different sq footage, lot size and number of rooms… though from the outside, they look the same.

[pizzaman]

Makes no sense..
This repo is on a canyon view lot and is listed for $445,000
http://www.redfin.com/stingray/do/printable-listing?listing-id=1315798

Model match across the street on an interior lot listed for $619,000 reduced from $635,000.
http://www.redfin.com/stingray/do/printable-listing?listing-id=1162064
I understand that some of these sellers are listing for what they must get in order to get out because they have no cash to bring to closing and/or to show the bank that they are making an attempt to sell in order to lay the groundwork for a short sale but what possibly logic could there be for reducing the price $16,000 when you are hundreds of thousands over the market.?

And by the way the repo at $445,000 is overpriced as this one came on recently at $354,000.
http://www.redfin.com/stingray/do/printable-listing?listing-id=1330404
Its about 500 sq ft smaller than the other two (2588 sq ft – not 3224 as listed vs 3165) but its on a canyon view lot. This one might actually sell.

[pizzaman]

Makes no sense..
This repo is on a canyon view lot and is listed for $445,000
http://www.redfin.com/stingray/do/printable-listing?listing-id=1315798

Model match across the street on an interior lot listed for $619,000 reduced from $635,000.
http://www.redfin.com/stingray/do/printable-listing?listing-id=1162064
I understand that some of these sellers are listing for what they must get in order to get out because they have no cash to bring to closing and/or to show the bank that they are making an attempt to sell in order to lay the groundwork for a short sale but what possibly logic could there be for reducing the price $16,000 when you are hundreds of thousands over the market.?

And by the way the repo at $445,000 is overpriced as this one came on recently at $354,000.
http://www.redfin.com/stingray/do/printable-listing?listing-id=1330404
Its about 500 sq ft smaller than the other two (2588 sq ft – not 3224 as listed vs 3165) but its on a canyon view lot. This one might actually sell.

[pizzaman]

Makes no sense..
This repo is on a canyon view lot and is listed for $445,000
http://www.redfin.com/stingray/do/printable-listing?listing-id=1315798

Model match across the street on an interior lot listed for $619,000 reduced from $635,000.
http://www.redfin.com/stingray/do/printable-listing?listing-id=1162064
I understand that some of these sellers are listing for what they must get in order to get out because they have no cash to bring to closing and/or to show the bank that they are making an attempt to sell in order to lay the groundwork for a short sale but what possibly logic could there be for reducing the price $16,000 when you are hundreds of thousands over the market.?

And by the way the repo at $445,000 is overpriced as this one came on recently at $354,000.
http://www.redfin.com/stingray/do/printable-listing?listing-id=1330404
Its about 500 sq ft smaller than the other two (2588 sq ft – not 3224 as listed vs 3165) but its on a canyon view lot. This one might actually sell.

[pizzaman]

Makes no sense..
This repo is on a canyon view lot and is listed for $445,000
http://www.redfin.com/stingray/do/printable-listing?listing-id=1315798

Model match across the street on an interior lot listed for $619,000 reduced from $635,000.
http://www.redfin.com/stingray/do/printable-listing?listing-id=1162064
I understand that some of these sellers are listing for what they must get in order to get out because they have no cash to bring to closing and/or to show the bank that they are making an attempt to sell in order to lay the groundwork for a short sale but what possibly logic could there be for reducing the price $16,000 when you are hundreds of thousands over the market.?

And by the way the repo at $445,000 is overpriced as this one came on recently at $354,000.
http://www.redfin.com/stingray/do/printable-listing?listing-id=1330404
Its about 500 sq ft smaller than the other two (2588 sq ft – not 3224 as listed vs 3165) but its on a canyon view lot. This one might actually sell.

[pizzaman]

The 11/07/2007 sale is likely the bank taking it back at auction. It is good to see that they went straight to a price that is realistic, they have resigned themselves to a 200k loss. I’m noticing more of this recently.
I’m following a repo through the system in Murrieta right now.
6 acres w/2 houses sold for 1m a couple of years ago. The bank has taken it back for 729k but hasn’t listed it yet. Hopefully its the same bank that took this one back, at 500k I’m in.

[pizzaman]

The 11/07/2007 sale is likely the bank taking it back at auction. It is good to see that they went straight to a price that is realistic, they have resigned themselves to a 200k loss. I’m noticing more of this recently.
I’m following a repo through the system in Murrieta right now.
6 acres w/2 houses sold for 1m a couple of years ago. The bank has taken it back for 729k but hasn’t listed it yet. Hopefully its the same bank that took this one back, at 500k I’m in.

[pizzaman]

The 11/07/2007 sale is likely the bank taking it back at auction. It is good to see that they went straight to a price that is realistic, they have resigned themselves to a 200k loss. I’m noticing more of this recently.
I’m following a repo through the system in Murrieta right now.
6 acres w/2 houses sold for 1m a couple of years ago. The bank has taken it back for 729k but hasn’t listed it yet. Hopefully its the same bank that took this one back, at 500k I’m in.

[pizzaman]

The 11/07/2007 sale is likely the bank taking it back at auction. It is good to see that they went straight to a price that is realistic, they have resigned themselves to a 200k loss. I’m noticing more of this recently.
I’m following a repo through the system in Murrieta right now.
6 acres w/2 houses sold for 1m a couple of years ago. The bank has taken it back for 729k but hasn’t listed it yet. Hopefully its the same bank that took this one back, at 500k I’m in.

[pizzaman]

The 11/07/2007 sale is likely the bank taking it back at auction. It is good to see that they went straight to a price that is realistic, they have resigned themselves to a 200k loss. I’m noticing more of this recently.
I’m following a repo through the system in Murrieta right now.
6 acres w/2 houses sold for 1m a couple of years ago. The bank has taken it back for 729k but hasn’t listed it yet. Hopefully its the same bank that took this one back, at 500k I’m in.

[Coronita]

Along similar lines, I see pricing in Carmel Valley between owners in new communities versus old(er) all over the map.

Example:

1) Pardee "Saratoga"

http://redfin.com/stingray/do/printable-listing?listing-id=1301818

2724sqft 4bed/3.5 bath. Notice no landscaping yet. $1,047,250

Versus

2) Belmont

http://redfin.com/stingray/do/printable-listing?listing-id=1290882

3,398 sqft, 4bed/3.5 bath.

$997,888-$1,029.000

 

3) or La Strada

http://www.redfin.com/stingray/do/printable-listing?listing-id=1265648

2928 4bed/3.5 bath

$949,000-1,049,000.00

 

I'd say for #1, whoever buys this unit will probably need to shell out another $50k to cover that 5500sqft brown dirt in front and back, and add some irrigation. Then they'll also be shelling out $66/month on hoas.

It's a long way before things start to normalize. My hunch in is some folks in CV are just going after their asking price, and if they can't get what they want, they're just adopting a wait and see approach.

 

 

[Coronita]

Along similar lines, I see pricing in Carmel Valley between owners in new communities versus old(er) all over the map.

Example:

1) Pardee "Saratoga"

http://redfin.com/stingray/do/printable-listing?listing-id=1301818

2724sqft 4bed/3.5 bath. Notice no landscaping yet. $1,047,250

Versus

2) Belmont

http://redfin.com/stingray/do/printable-listing?listing-id=1290882

3,398 sqft, 4bed/3.5 bath.

$997,888-$1,029.000

 

3) or La Strada

http://www.redfin.com/stingray/do/printable-listing?listing-id=1265648

2928 4bed/3.5 bath

$949,000-1,049,000.00

 

I'd say for #1, whoever buys this unit will probably need to shell out another $50k to cover that 5500sqft brown dirt in front and back, and add some irrigation. Then they'll also be shelling out $66/month on hoas.

It's a long way before things start to normalize. My hunch in is some folks in CV are just going after their asking price, and if they can't get what they want, they're just adopting a wait and see approach.

 

 

[Coronita]

Along similar lines, I see pricing in Carmel Valley between owners in new communities versus old(er) all over the map.

Example:

1) Pardee "Saratoga"

http://redfin.com/stingray/do/printable-listing?listing-id=1301818

2724sqft 4bed/3.5 bath. Notice no landscaping yet. $1,047,250

Versus

2) Belmont

http://redfin.com/stingray/do/printable-listing?listing-id=1290882

3,398 sqft, 4bed/3.5 bath.

$997,888-$1,029.000

 

3) or La Strada

http://www.redfin.com/stingray/do/printable-listing?listing-id=1265648

2928 4bed/3.5 bath

$949,000-1,049,000.00

 

I'd say for #1, whoever buys this unit will probably need to shell out another $50k to cover that 5500sqft brown dirt in front and back, and add some irrigation. Then they'll also be shelling out $66/month on hoas.

It's a long way before things start to normalize. My hunch in is some folks in CV are just going after their asking price, and if they can't get what they want, they're just adopting a wait and see approach.

 

 

[Coronita]

Along similar lines, I see pricing in Carmel Valley between owners in new communities versus old(er) all over the map.

Example:

1) Pardee "Saratoga"

http://redfin.com/stingray/do/printable-listing?listing-id=1301818

2724sqft 4bed/3.5 bath. Notice no landscaping yet. $1,047,250

Versus

2) Belmont

http://redfin.com/stingray/do/printable-listing?listing-id=1290882

3,398 sqft, 4bed/3.5 bath.

$997,888-$1,029.000

 

3) or La Strada

http://www.redfin.com/stingray/do/printable-listing?listing-id=1265648

2928 4bed/3.5 bath

$949,000-1,049,000.00

 

I'd say for #1, whoever buys this unit will probably need to shell out another $50k to cover that 5500sqft brown dirt in front and back, and add some irrigation. Then they'll also be shelling out $66/month on hoas.

It's a long way before things start to normalize. My hunch in is some folks in CV are just going after their asking price, and if they can't get what they want, they're just adopting a wait and see approach.

 

 

[Coronita]

Along similar lines, I see pricing in Carmel Valley between owners in new communities versus old(er) all over the map.

Example:

1) Pardee "Saratoga"

http://redfin.com/stingray/do/printable-listing?listing-id=1301818

2724sqft 4bed/3.5 bath. Notice no landscaping yet. $1,047,250

Versus

2) Belmont

http://redfin.com/stingray/do/printable-listing?listing-id=1290882

3,398 sqft, 4bed/3.5 bath.

$997,888-$1,029.000

 

3) or La Strada

http://www.redfin.com/stingray/do/printable-listing?listing-id=1265648

2928 4bed/3.5 bath

$949,000-1,049,000.00

 

I'd say for #1, whoever buys this unit will probably need to shell out another $50k to cover that 5500sqft brown dirt in front and back, and add some irrigation. Then they'll also be shelling out $66/month on hoas.

It's a long way before things start to normalize. My hunch in is some folks in CV are just going after their asking price, and if they can't get what they want, they're just adopting a wait and see approach.

 

 

[Author]

Posts