San Marcos

[renter]

I understand that sellers will be trying to hold onto prices as much as possible with the coming mortgage reset in 07, but I think major price corrections may appear sooner than the estimated 5 years. Sellers will have to adjust prices when builders reduce prices to move inventory.

Fieldstones new community Rancho Santalina in San Marcos 2800sqft+ (low 500’s) + incentives (40k)
http://www.fieldstone-homes.com/community/default.asp?T=main&FSID=rss00

I’m not saying this is affordable, but a change from the 700’s we have been seeing in the last year or so.

[PerryChase]

In a down market, builders are the ones moving the prices downward. No matter the market conditions, builders need to continue selling houses to earn a living.

Sellers of resale houses hold on to their high prices until certain catalysts (job move, divorce, children going to college, flip gone flop, etc…) in their lives force price reductions and sales.

The promotional email updates I get from builders show that they ahead of the market and lower than resale houses.

[outtamojo]

I’m not certain, but the schools in the area around that community aren’t the best- if someone with more knowledge of the area would weigh in it would be much appreciated.

[farbet]

What about gangs and crime in the area? Is this area safe?

[lendingbubblecontinues]

Simply put…

San Marcos blows. Schools suck. 78 traffic sucks. Gang violence and crime suck. Oh yeah, don’t forget about your retarded, monster-truck driving, soon-to-be-unemployed construction/laborer type neighbors.

Avoid.

[renter]

True but atleast prices have come down in the not so great school districts. Poway holds because of its reputation. I cant imagine people paying 600k for a 2000sqft or smaller house or 500k for a condo in these areas. This should be a signal for further price declines to come ahead.

[farbet]

The cost of home building materials as wood,drywall and appliances have dropped significantly.. Isn’t it about time the prices for new homes drop?

[Bugs]

The majority of the price increases for the new homes went into the developers’ pockets. The majority of the price decreases have been the results of these developers being willing to do the same job but for less profit.

Think about what it means when a developer can cut pricing on a subdivision by $100k or more per unit and still make enough of a profit to economically justify finishing off the project.

[sdrealtor]

Two words….windfall profits

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