Santa Luz

[jeeman]

LOL, I’ve seen both of those houses.

Ridgegate – Real kid friendly with steep dropoffs only a couple feet from the edge of the house. Ok, the fence will keep them in, but how about 2nd story windows where the fall isn’t 10-15 feet, but 150 feet. I got vertigo looking out of some of those windows.

Country club – Another one that isn’t too kid friendly because there are 4 stories. That is why they put an elevator in there. Stairs are everywhere. But it’s a nice house.

Also, look carefully at the driveway. Water will come from behind the house, run down onto the driveway, and into your garage. It’s not a good thing for 1/3 of the house to be below ground.

The big downward pressure on Santa Luz prices is the availability of supply increases…there is so much land to build on out there. Try a more established neighborhood where you won’t be competing with the builders (as a seller, that is. As a buyer, it works in your favor).

Jeeman

[Eugene]

[quote=jeeman]
Also, look carefully at the driveway. Water will come from behind the house, run down onto the driveway, and into your garage. It’s not a good thing for 1/3 of the house to be below ground.
[/quote]

Presumably, there’s a grate along the garage door and a sump pump underneath. Not uncommon in cold states.

[Eugene]

[quote=jeeman]
Also, look carefully at the driveway. Water will come from behind the house, run down onto the driveway, and into your garage. It’s not a good thing for 1/3 of the house to be below ground.
[/quote]

Presumably, there’s a grate along the garage door and a sump pump underneath. Not uncommon in cold states.

[Eugene]

[quote=jeeman]
Also, look carefully at the driveway. Water will come from behind the house, run down onto the driveway, and into your garage. It’s not a good thing for 1/3 of the house to be below ground.
[/quote]

Presumably, there’s a grate along the garage door and a sump pump underneath. Not uncommon in cold states.

[Eugene]

[quote=jeeman]
Also, look carefully at the driveway. Water will come from behind the house, run down onto the driveway, and into your garage. It’s not a good thing for 1/3 of the house to be below ground.
[/quote]

Presumably, there’s a grate along the garage door and a sump pump underneath. Not uncommon in cold states.

[Eugene]

[quote=jeeman]
Also, look carefully at the driveway. Water will come from behind the house, run down onto the driveway, and into your garage. It’s not a good thing for 1/3 of the house to be below ground.
[/quote]

Presumably, there’s a grate along the garage door and a sump pump underneath. Not uncommon in cold states.

[kcal09]

Looks like price has come down quite a bit on this home-this type of home used to be over $1 million. Is it a good deal now or still overpriced?

http://www.sdlookup.com/MLS-120001859-8150_Santaluz_Village_San_Diego_CA_92127

[ocrenter]

[quote=kcal09]Looks like price has come down quite a bit on this home-this type of home used to be over $1 million. Is it a good deal now or still overpriced?

http://www.sdlookup.com/MLS-120001859-8150_Santaluz_Village_San_Diego_CA_92127%5B/quote%5D

Well, these went for around $700k new in 2002. Which means 2001 pricing. Adjusted for inflation and upgrades, this is actually quite a bit lower than 2001 prices.

[kcal09]

[quote=ocrenter][quote=kcal09]Looks like price has come down quite a bit on this home-this type of home used to be over $1 million. Is it a good deal now or still overpriced?

http://www.sdlookup.com/MLS-120001859-8150_Santaluz_Village_San_Diego_CA_92127%5B/quote%5D

Well, these went for around $700k new in 2002. Which means 2001 pricing. Adjusted for inflation and upgrades, this is actually quite a bit lower than 2001 prices.[/quote]

Thank you for the information. Does that mean it’s fairly priced as most other properties have not reached 2001 levels (yet) or is the 2001 price still too high?

[ocrenter]

[quote=kcal09][quote=ocrenter][quote=kcal09]Looks like price has come down quite a bit on this home-this type of home used to be over $1 million. Is it a good deal now or still overpriced?

http://www.sdlookup.com/MLS-120001859-8150_Santaluz_Village_San_Diego_CA_92127%5B/quote%5D

Well, these went for around $700k new in 2002. Which means 2001 pricing. Adjusted for inflation and upgrades, this is actually quite a bit lower than 2001 prices.[/quote]

Thank you for the information. Does that mean it’s fairly priced as most other properties have not reached 2001 levels (yet) or is the 2001 price still too high?[/quote]

Assuming this house was 700k in 2002, adjusted for today’s dollar the price without interior/exterior improvements would be 880k.

There’s a smaller model that sold for 740k late last year, smaller by 300 sqft. That house was sold in the high 600k in 2002.

So 760k is a decent price.

[EconProf]

There are maybe 70 “casitas” of this type in Santaluz, and while this is the biggest of the three casita models, it is perhaps the worst located of all. It is hemmed in by a street on two sides and close-in other units on the other two sides. NO view or feeling of openness like virtually all the other casitas. People buy these for the ambience, one-story privacy, and view, and this unit is lacking.
Considering this, it seems neither too high nor too low in price.

[ocrenter]

[quote=EconProf]There are maybe 70 “casitas” of this type in Santaluz, and while this is the biggest of the three casita models, it is perhaps the worst located of all. It is hemmed in by a street on two sides and close-in other units on the other two sides. NO view or feeling of openness like virtually all the other casitas. People buy these for the ambience, one-story privacy, and view, and this unit is lacking.
Considering this, it seems neither too high nor too low in price.[/quote]

good point, the smaller 2200 sqft model that sold late last year backs up to park/grassy area so better location.

http://www.zillow.com/homedetails/8259-Santaluz-Village-Grn-N-San-Diego-CA-92127/54904839_zpid/

[EconProf]

Glad you like Santaluz Early Retirement–it is a community that grows on you. It is also a rigidly-enforced dark sky community, enforced by those pesky CC&Rs. So take a midnight walk out in the moonlight and you will see the sky as nowhere else in San Diego. BTW, your private message did not come through to me.

[earlyretirement]

[quote=EconProf]
Considering this, it seems neither too high nor too low in price.[/quote]

[quote=ocrenter][quote=kcal09][quote=ocrenter][quote=kcal09]Looks like price has come down quite a bit on this home-this type of home used to be over $1 million. Is it a good deal now or still overpriced?

http://www.sdlookup.com/MLS-120001859-8150_Santaluz_Village_San_Diego_CA_92127%5B/quote%5D

Well, these went for around $700k new in 2002. Which means 2001 pricing. Adjusted for inflation and upgrades, this is actually quite a bit lower than 2001 prices.[/quote]

Thank you for the information. Does that mean it’s fairly priced as most other properties have not reached 2001 levels (yet) or is the 2001 price still too high?[/quote]

Assuming this house was 700k in 2002, adjusted for today’s dollar the price without interior/exterior improvements would be 880k.

So 760k is a decent price.[/quote]

I agree with both of these gentlemen that price seems to be decent. And I also would have brought up the point about the inflation adjusted price.

One thing I’ll say is that we absolutely LOVE living in Santaluz. We looked at a lot of different areas including La Jolla and are so very happy with our decision to buy here. The quality of life and lifestyle are really great here. Our neighbors are all friendly and the community is always immaculate.

We looked at tons of houses over a few years span waiting for prices to fall in San Diego and I figured last year was a good time to buy. I reasoned that prices might dip a bit more but over the long haul if you’re buying for the long term, I think now is a good time to buy in a community like Santaluz.

I couldn’t really justify it a few years ago when prices were 35% higher as I figured prices were still inflated but I think values are decent now. I’d highly recommend Santaluz for any potential property owners out there looking. It’s a wonderful community.

[earlyretirement]

Hey EconProf!

I did send you a PM but in case you didn’t get it just PM me and I’ll resend. I just wanted to invite you to a coffee/lunch next week. Your posts were really helpful about Santaluz and so were some of your PM’s to me before we ultimately decided to purchase here.

Actually I don’t mind the CC&R’s. Before I bought, some of them worried me a bit (like only being able to paint my garage door 1 color that the community decided on) but honestly it’s been great and I actually prefer them now that I have kids.

I guess it’s nice not having to worry about having any neighbors painting a pink garage door or some other wacky color. And I like the fact that owners are forced to keep their lots looking nice and tidy. The security here is great. The staff at the community office is super friendly.

I actually think you get a good value for the money on the monthly $450 HOA fees because it includes 10 MB high speed internet, garbage pick up and Digital Cable included. I have met a few in the community that have been here since Santaluz started and they feel it’s high but honestly there are many places where you pay a few hundred bucks a month and it doesn’t include much and they do a horrible job maintaining the property or security is horrible. That isn’t the case here.

Yes, I’ve enjoyed the moonlight walks. It’s really great! We enjoy the dark sky community. You are right that Santaluz grows on you but it has far exceeded our expectations so far and we plan on staying here for the long run.

Let me know if you’re up for a coffee next week and we can meet up at the French Roast Cafe at Santaluz. Coffee and lunch are on me.

Thanks again.

[Author]

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