Schools keep Poway homes in high demand

[an]

I took a quick look on zip realty at houses around 2000 sq-ft in Mira Mesa, Rancho Bernardo, and Rancho Penesquitos. They’re all going for about the same price. Of course, one that is newer will sell for more. As well as the one that has bigger lot. But this quick look shows that $/sq-ft of house around the same lot size are about the same price in the 3 areas. Also, if you take a look at Scripps Ranch, which is in the lowly San Diego Unified School District have higher $/sq-ft as well as Tierrasanta(sp?). So, I think your thesis is not correct about Poway School keeping the price high. Poway homes tend to have much larger lots compare to Mira Mesa as well. So that might be a big factor. You said your old house has 3-4 acres of land. Can you imagine how much it would cost to have 3-4 acres of land in Mira Mesa? I bet it’ll be much much more expensive than Poway.

[Bugs]

PS, I didn’t say that the Poway schools weren’t better or that it isn’t a draw; I only said that I can’t see any indications in the sales data that Poway is doing better than other communities with similar proximity to employment and demographics. If you go north into Escondido you’ll see as big a minus difference there as the plus difference between Scripps and Poway. Go to Murrieta and you’ll see that Escondido shows much higher even though the Murrieta schools are a little better. Most other attributes being very similar (and they are), Encinitas sells higher than Carlsbad.

[Anonymous]

Very Insightful. Thanks.

[powayseller]

asianautica, my house was on 5.3 acres, on the outskirts of Poway, where land is so cheap because nobody really wants to drive that far or live in the boonies. That made the price much lower than any lot in Poway. In Poway, a 5000 sq fot lot costs more than my 5 acres. 1 acre in Poway costs probably $1 mil, but someone with MLS access could verify.

A lot of Poway is low income, and that drags down the median. But I wonder why people keep wanting to move here for the schools. Poway has the reputation of the good schools, deserved or not, and I thought it affects the prices. But it doesn’t?

So Poway homes are priced the same as Mira Mesa houses?

[ocrenter]

poway, I hear you. I feel your pain, and he definately is a pain. But anyhow.

We been looking at boh RB and San Marcos, and RB looks like it’s about $100,000 higher than San Marcos. And Carlsbad USD is also about $100,000 higher than Rancho Carillo and San Elijo Hills. So I suppose that’s the education premium.

[powayseller]

Ok, time for Bugs the appraiser to settle this. Is there an education lot premium on homes in the “best” school districts?

I’ve been told over and over that Poway homes are priced higher and hold their value better, because of the schools. I thought it was a fact. Perhaps I am wrong.

[JJGittes]

I’ve been looking in the same areas. But since the same houses keep turning up everytime I do a search on the internet, it’s hard to tell what ANY of them might actually sell for now!!

Inventory is at 22,755 in SD county, and still going up up up http://bubbletracking.blogspot.com/2006/07/tracking-san-diego-county.html

[Author]

Posts