San Elijo Hills Analysis

[waiting for bottom]

I currently rent in SEH and keep close tabs on the market. Most sellers are still in denial and priced $75-$100K above recent comps, let alone any decline since then.

Recent comps:

1613 Sagewood, sold 9/12/07 – $590K – $213 sq/ft
1605 Sagewood, sold 9/x/07 – $625K – $212 sq/ft

Only reasonably priced house in the $500-$750K range:

1434 Rivercrest, $599K – $203 sq/ft

Check out the denial club:

1662 Sagewood, $699K – $245 sq/ft
1655 Sagewood, $659K – $239 sq/ft
1614 Sagewood, $679K – $238 sq/ft
1677 Archer, $695K – $265 sq/ft
1546 Archer, $708K – $238 sq/ft
1692 Archer, $699K – $262 sq/ft
1589 Archer, $679K – $228 sq/ft

All houses above are right near town center and in same subdivision.

Don’t even get me started with the Questhaven area of SEH with Antilla, Eclipse, and Anchor. They are not comparable to these given 2x Mello Roos so I’ll save them for next time.

I’ve been reading you guys for a few months, I figured it’s time to start providing some data. Just moved to the area and in part thanks to this site decided to rent.

[NotCranky]

Hi WFB,
How does your rent compare to a 20% down mortgage PITI & mello roos for similar recent solds?

[NotCranky]

Hi WFB,
How does your rent compare to a 20% down mortgage PITI & mello roos for similar recent solds?

[NotCranky]

Hi WFB,
How does your rent compare to a 20% down mortgage PITI & mello roos for similar recent solds?

[NotCranky]

Hi WFB,
How does your rent compare to a 20% down mortgage PITI & mello roos for similar recent solds?

[NotCranky]

Hi WFB,
How does your rent compare to a 20% down mortgage PITI & mello roos for similar recent solds?

[farbet]

Is the mello roos lower on the Archer area homes side than the Questahaven area?

[farbet]

Is the mello roos lower on the Archer area homes side than the Questahaven area?

[farbet]

Is the mello roos lower on the Archer area homes side than the Questahaven area?

[farbet]

Is the mello roos lower on the Archer area homes side than the Questahaven area?

[farbet]

Is the mello roos lower on the Archer area homes side than the Questahaven area?

[waiting for bottom]

My rent is $2800, on a street adjacent to both Sagewood and Archer and close to 3000 sq feet.

1546 Archer would be $4763 with 20% PITP+MR 30 fxd.
1655 Sagewood would be $4666

The “reasonably” priced 1434 Rivercrest would be $4016. It is almost identical to the house I am renting (same model).

Still a ways to fall? Rivercrest would have to fall to $475K to get near $3000.

None of this includes the $85 HOA.

Wow.

[waiting for bottom]

My rent is $2800, on a street adjacent to both Sagewood and Archer and close to 3000 sq feet.

1546 Archer would be $4763 with 20% PITP+MR 30 fxd.
1655 Sagewood would be $4666

The “reasonably” priced 1434 Rivercrest would be $4016. It is almost identical to the house I am renting (same model).

Still a ways to fall? Rivercrest would have to fall to $475K to get near $3000.

None of this includes the $85 HOA.

Wow.

[waiting for bottom]

My rent is $2800, on a street adjacent to both Sagewood and Archer and close to 3000 sq feet.

1546 Archer would be $4763 with 20% PITP+MR 30 fxd.
1655 Sagewood would be $4666

The “reasonably” priced 1434 Rivercrest would be $4016. It is almost identical to the house I am renting (same model).

Still a ways to fall? Rivercrest would have to fall to $475K to get near $3000.

None of this includes the $85 HOA.

Wow.

[waiting for bottom]

My rent is $2800, on a street adjacent to both Sagewood and Archer and close to 3000 sq feet.

1546 Archer would be $4763 with 20% PITP+MR 30 fxd.
1655 Sagewood would be $4666

The “reasonably” priced 1434 Rivercrest would be $4016. It is almost identical to the house I am renting (same model).

Still a ways to fall? Rivercrest would have to fall to $475K to get near $3000.

None of this includes the $85 HOA.

Wow.

[Author]

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