Santa Luz

[SD Realtor]

Actually I don’t think it is as much as a pipecleaner as you think. Digging through the main point of the original poster, Santa Luz has been depreciating bigtime. Our investment group considered buying a Santa Luz property awhile back at trustee sale and we did not and were VERY surprised at what the home went for. We think that that particular buyer will be hosed but you never know. If you really dig into the comps and study them, this is not an outlandish price and would represent about a 2/3 hit to the 1.5 paid for the home a few years ago.

In general I would agree with the premise of the original poster however step up buyers going into a 900k or 1M home is a healthy step up and maybe I would say it is second step up buyers, not first step up buyers.

So no I do not classify this listing as a pipecleaner at all.

[clearfund]

Raybyrnes – This property is not in Santaluz so need to be careful when comparing Santaluz with Santaluz Adjacent…not the same.

However, did notice this listing and it is beginning to look appealing out that way…I expect to see some of the customs begin to pop free in the low $300/sf range ($2.0mm+/- down from $3mm) soon then the squishdown really begins.

[clearfund]

Raybyrnes – This property is not in Santaluz so need to be careful when comparing Santaluz with Santaluz Adjacent…not the same.

However, did notice this listing and it is beginning to look appealing out that way…I expect to see some of the customs begin to pop free in the low $300/sf range ($2.0mm+/- down from $3mm) soon then the squishdown really begins.

[clearfund]

Raybyrnes – This property is not in Santaluz so need to be careful when comparing Santaluz with Santaluz Adjacent…not the same.

However, did notice this listing and it is beginning to look appealing out that way…I expect to see some of the customs begin to pop free in the low $300/sf range ($2.0mm+/- down from $3mm) soon then the squishdown really begins.

[clearfund]

Raybyrnes – This property is not in Santaluz so need to be careful when comparing Santaluz with Santaluz Adjacent…not the same.

However, did notice this listing and it is beginning to look appealing out that way…I expect to see some of the customs begin to pop free in the low $300/sf range ($2.0mm+/- down from $3mm) soon then the squishdown really begins.

[clearfund]

Raybyrnes – This property is not in Santaluz so need to be careful when comparing Santaluz with Santaluz Adjacent…not the same.

However, did notice this listing and it is beginning to look appealing out that way…I expect to see some of the customs begin to pop free in the low $300/sf range ($2.0mm+/- down from $3mm) soon then the squishdown really begins.

[pepsi]

You are right. I just looked at the last sale price when I posted. I should have study the whole neighborhood.

[pepsi]

You are right. I just looked at the last sale price when I posted. I should have study the whole neighborhood.

[pepsi]

You are right. I just looked at the last sale price when I posted. I should have study the whole neighborhood.

[pepsi]

You are right. I just looked at the last sale price when I posted. I should have study the whole neighborhood.

[pepsi]

You are right. I just looked at the last sale price when I posted. I should have study the whole neighborhood.

[briansd1]

[quote=SD Realtor]Actually I don’t think it is as much as a pipecleaner as you think. Digging through the main point of the original poster, Santa Luz has been depreciating bigtime. Our investment group considered buying a Santa Luz property awhile back at trustee sale and we did not and were VERY surprised at what the home went for. We think that that particular buyer will be hosed but you never know. If you really dig into the comps and study them, this is not an outlandish price and would represent about a 2/3 hit to the 1.5 paid for the home a few years ago.

In general I would agree with the premise of the original poster however step up buyers going into a 900k or 1M home is a healthy step up and maybe I would say it is second step up buyers, not first step up buyers.

So no I do not classify this listing as a pipecleaner at all.[/quote]

I agree. We are certainly seeing the ‘primo’ properties in North County getting hit.

[briansd1]

[quote=SD Realtor]Actually I don’t think it is as much as a pipecleaner as you think. Digging through the main point of the original poster, Santa Luz has been depreciating bigtime. Our investment group considered buying a Santa Luz property awhile back at trustee sale and we did not and were VERY surprised at what the home went for. We think that that particular buyer will be hosed but you never know. If you really dig into the comps and study them, this is not an outlandish price and would represent about a 2/3 hit to the 1.5 paid for the home a few years ago.

In general I would agree with the premise of the original poster however step up buyers going into a 900k or 1M home is a healthy step up and maybe I would say it is second step up buyers, not first step up buyers.

So no I do not classify this listing as a pipecleaner at all.[/quote]

I agree. We are certainly seeing the ‘primo’ properties in North County getting hit.

[briansd1]

[quote=SD Realtor]Actually I don’t think it is as much as a pipecleaner as you think. Digging through the main point of the original poster, Santa Luz has been depreciating bigtime. Our investment group considered buying a Santa Luz property awhile back at trustee sale and we did not and were VERY surprised at what the home went for. We think that that particular buyer will be hosed but you never know. If you really dig into the comps and study them, this is not an outlandish price and would represent about a 2/3 hit to the 1.5 paid for the home a few years ago.

In general I would agree with the premise of the original poster however step up buyers going into a 900k or 1M home is a healthy step up and maybe I would say it is second step up buyers, not first step up buyers.

So no I do not classify this listing as a pipecleaner at all.[/quote]

I agree. We are certainly seeing the ‘primo’ properties in North County getting hit.

[briansd1]

[quote=SD Realtor]Actually I don’t think it is as much as a pipecleaner as you think. Digging through the main point of the original poster, Santa Luz has been depreciating bigtime. Our investment group considered buying a Santa Luz property awhile back at trustee sale and we did not and were VERY surprised at what the home went for. We think that that particular buyer will be hosed but you never know. If you really dig into the comps and study them, this is not an outlandish price and would represent about a 2/3 hit to the 1.5 paid for the home a few years ago.

In general I would agree with the premise of the original poster however step up buyers going into a 900k or 1M home is a healthy step up and maybe I would say it is second step up buyers, not first step up buyers.

So no I do not classify this listing as a pipecleaner at all.[/quote]

I agree. We are certainly seeing the ‘primo’ properties in North County getting hit.

[Author]

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