Santa Fe Trails – Getting Close

[sdrealtor]

CA Renter,
That house sold for just under $400K in July of 1997. To close in July 1997 that house was likely purchased under contract in 1996 pulling it deeper down. I bought RE in this area in 1997 and it was cheaper to buy that to rent with 5% down, PMI and interest rates on 5/1 ARM’s in the mid 8’s. In 1997 we were at the bottom of the last cycle and had overshot on the way down.

That house also has a pool and a large lot requiring mucho landscaping expense. Let’s be ultra-conservative and call it $450K.

Since that time the area has improved dramatically (though long time locals might not agree). In 1997, you couldnt find a place that served a decent dinner around here after 9 PM. If there was such a place we never found it. The schools are better, the shopping is better, there are numerous new medical office buidlings and specialists you previously had to drive to UTC/Kearny Mesa now have offices here. And yes Leucadia Blvd now makes that house about 10 minutes closer to the beach/freeway. The diversity of employment is drmatacilly better now than in 1997. So there are definitely very siginifcant improvements since 1997 which was a pricing bottom with high interest rates.

Let’s continue being ultra-conservative and give ourselves 3% inflation since the overshot bottom. It’s 11 YEARS LATER! The 3% compounded over 11 years is about 40%. Throw the 40% on top of our conservative cost estimate (using 1997 costs not 2008 costs) and ya got $623K.

If you think that house will see $450K I’d like some of what you’re smoking. I don’t think a house like that will see $625K but could see it breaking $700K if interest rates climb back into the 9’s.

[sdrealtor]

WFB,
A place like that for $750 in 2009 is very possible. A place like that in 2010 for $650 is very unlikely IMO because of what I just put up above. I’m not saying impossible because we just dont know what external forces will arise out in the big wide world…..just unlikely.

sdr

[sdrealtor]

WFB,
A place like that for $750 in 2009 is very possible. A place like that in 2010 for $650 is very unlikely IMO because of what I just put up above. I’m not saying impossible because we just dont know what external forces will arise out in the big wide world…..just unlikely.

sdr

[sdrealtor]

WFB,
A place like that for $750 in 2009 is very possible. A place like that in 2010 for $650 is very unlikely IMO because of what I just put up above. I’m not saying impossible because we just dont know what external forces will arise out in the big wide world…..just unlikely.

sdr

[sdrealtor]

WFB,
A place like that for $750 in 2009 is very possible. A place like that in 2010 for $650 is very unlikely IMO because of what I just put up above. I’m not saying impossible because we just dont know what external forces will arise out in the big wide world…..just unlikely.

sdr

[sdrealtor]

WFB,
A place like that for $750 in 2009 is very possible. A place like that in 2010 for $650 is very unlikely IMO because of what I just put up above. I’m not saying impossible because we just dont know what external forces will arise out in the big wide world…..just unlikely.

sdr

[zzz]

I’m not familiar with SFT – is there something particular about that neighborhood that makes it more attractive than other homes either in Encinitas or La Costa?

How does the neighborhood rate to homes in Encinitas such as these 2 listings? Both are less than 3000 sq ft however.

Not so crazy about the green carpet on the first listing, but both of these homes seem to need less updating and are closer to the beach.

http://www.redfin.com/CA/Encinitas/342-Camino-De-Las-Flores-92024/home/4131717

http://www.redfin.com/CA/Encinitas/1548-Calle-Violetas-92024/home/4131685

Also – how does SFT rate against La Costa?

http://www.redfin.com/CA/Carlsbad/6895-Goldstone-92009/home/7513975

http://www.redfin.com/CA/Carlsbad/6818-Jade-Ln-92009/home/6664399

Thanks

[zzz]

I’m not familiar with SFT – is there something particular about that neighborhood that makes it more attractive than other homes either in Encinitas or La Costa?

How does the neighborhood rate to homes in Encinitas such as these 2 listings? Both are less than 3000 sq ft however.

Not so crazy about the green carpet on the first listing, but both of these homes seem to need less updating and are closer to the beach.

http://www.redfin.com/CA/Encinitas/342-Camino-De-Las-Flores-92024/home/4131717

http://www.redfin.com/CA/Encinitas/1548-Calle-Violetas-92024/home/4131685

Also – how does SFT rate against La Costa?

http://www.redfin.com/CA/Carlsbad/6895-Goldstone-92009/home/7513975

http://www.redfin.com/CA/Carlsbad/6818-Jade-Ln-92009/home/6664399

Thanks

[zzz]

I’m not familiar with SFT – is there something particular about that neighborhood that makes it more attractive than other homes either in Encinitas or La Costa?

How does the neighborhood rate to homes in Encinitas such as these 2 listings? Both are less than 3000 sq ft however.

Not so crazy about the green carpet on the first listing, but both of these homes seem to need less updating and are closer to the beach.

http://www.redfin.com/CA/Encinitas/342-Camino-De-Las-Flores-92024/home/4131717

http://www.redfin.com/CA/Encinitas/1548-Calle-Violetas-92024/home/4131685

Also – how does SFT rate against La Costa?

http://www.redfin.com/CA/Carlsbad/6895-Goldstone-92009/home/7513975

http://www.redfin.com/CA/Carlsbad/6818-Jade-Ln-92009/home/6664399

Thanks

[zzz]

I’m not familiar with SFT – is there something particular about that neighborhood that makes it more attractive than other homes either in Encinitas or La Costa?

How does the neighborhood rate to homes in Encinitas such as these 2 listings? Both are less than 3000 sq ft however.

Not so crazy about the green carpet on the first listing, but both of these homes seem to need less updating and are closer to the beach.

http://www.redfin.com/CA/Encinitas/342-Camino-De-Las-Flores-92024/home/4131717

http://www.redfin.com/CA/Encinitas/1548-Calle-Violetas-92024/home/4131685

Also – how does SFT rate against La Costa?

http://www.redfin.com/CA/Carlsbad/6895-Goldstone-92009/home/7513975

http://www.redfin.com/CA/Carlsbad/6818-Jade-Ln-92009/home/6664399

Thanks

[zzz]

I’m not familiar with SFT – is there something particular about that neighborhood that makes it more attractive than other homes either in Encinitas or La Costa?

How does the neighborhood rate to homes in Encinitas such as these 2 listings? Both are less than 3000 sq ft however.

Not so crazy about the green carpet on the first listing, but both of these homes seem to need less updating and are closer to the beach.

http://www.redfin.com/CA/Encinitas/342-Camino-De-Las-Flores-92024/home/4131717

http://www.redfin.com/CA/Encinitas/1548-Calle-Violetas-92024/home/4131685

Also – how does SFT rate against La Costa?

http://www.redfin.com/CA/Carlsbad/6895-Goldstone-92009/home/7513975

http://www.redfin.com/CA/Carlsbad/6818-Jade-Ln-92009/home/6664399

Thanks

[pemeliza]

Golfgal, I’ll take a swing at your question. The last two listings you mention are in La Costa Greens which is new and nice but in the San Marcos School District.
Huge difference in pricing.

The first two houses in Encinitas are quite a bit older construction although the one seems to have been updated nicely.

A huge appeal of SFT missing in all of your listings is the ability to walk to all three top rated schools.
In fact you can walk to OPE from Camino Alegre without even crossing a busy street.

[pemeliza]

Golfgal, I’ll take a swing at your question. The last two listings you mention are in La Costa Greens which is new and nice but in the San Marcos School District.
Huge difference in pricing.

The first two houses in Encinitas are quite a bit older construction although the one seems to have been updated nicely.

A huge appeal of SFT missing in all of your listings is the ability to walk to all three top rated schools.
In fact you can walk to OPE from Camino Alegre without even crossing a busy street.

[pemeliza]

Golfgal, I’ll take a swing at your question. The last two listings you mention are in La Costa Greens which is new and nice but in the San Marcos School District.
Huge difference in pricing.

The first two houses in Encinitas are quite a bit older construction although the one seems to have been updated nicely.

A huge appeal of SFT missing in all of your listings is the ability to walk to all three top rated schools.
In fact you can walk to OPE from Camino Alegre without even crossing a busy street.

[pemeliza]

Golfgal, I’ll take a swing at your question. The last two listings you mention are in La Costa Greens which is new and nice but in the San Marcos School District.
Huge difference in pricing.

The first two houses in Encinitas are quite a bit older construction although the one seems to have been updated nicely.

A huge appeal of SFT missing in all of your listings is the ability to walk to all three top rated schools.
In fact you can walk to OPE from Camino Alegre without even crossing a busy street.

[Author]

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