Seeking advice buying in Carmel Valley vs 4S ranch

[waittobuy]

A new 3185 sq ft, 4600 lot house in 4S ranch costs about $730K, with more free upgrade. Very close to work.
In Carmel Valley Pardee’s Portico community at Carmel Valley Rd, $730K can only buy 2408 sq ft , 3100 lot new house (no backyard). Similar size houses in 4S ranch cost about $120K less.

4S house is more comfortable to live in, in Poway District. However, Pardee’s houses are in the Del Mar district or Solana Beach district. My concerns are mainly about schools.

1) how much better is Del Mar or Solana Beach better than Poway district? Does the difference justify the $120K price difference?
2) In terms of resale value, would the values of Pardee homes increase more than 4S homes in 10-20 years?
3) Would you sacrifice your living comfortability for a better school district?

I appreciate your opinions very much!

[Nancy_s soothsayer]

By your handle or name, I am wishing that you won’t buy this year. Could you wait till 2009? Even better in 2010. IMHO, all the dollar signs in your above post are moot at this point in time. Go rent in a spanking new landlord-subsidized house in a great area. The landlord will thank you.

[Nancy_s soothsayer]

By your handle or name, I am wishing that you won’t buy this year. Could you wait till 2009? Even better in 2010. IMHO, all the dollar signs in your above post are moot at this point in time. Go rent in a spanking new landlord-subsidized house in a great area. The landlord will thank you.

[waittobuy]

we have waited since last June. The prices of the houses we’re looking at have dropped about $100K since then. The prices are still $60K more than what we expect from a reasonable market. Wife wants to move to our own house in late summer this year. Her reasons are convincing to me.
–One cannot always buy at the bottom.
–The rent is close to would-be monthly house payment. If we wait until summer next year, the price might be $40K less, but in the meantime we’ll have to pay for rent, part of which could have been used for principal payment.
— we think the biggest yearly drop in price in this cycle has happened. It’s painful to wait for slow price depreciation over the coming years, and we do not wait anymore, plan to say there long enough to ride it out.

[waittobuy]

we have waited since last June. The prices of the houses we’re looking at have dropped about $100K since then. The prices are still $60K more than what we expect from a reasonable market. Wife wants to move to our own house in late summer this year. Her reasons are convincing to me.
–One cannot always buy at the bottom.
–The rent is close to would-be monthly house payment. If we wait until summer next year, the price might be $40K less, but in the meantime we’ll have to pay for rent, part of which could have been used for principal payment.
— we think the biggest yearly drop in price in this cycle has happened. It’s painful to wait for slow price depreciation over the coming years, and we do not wait anymore, plan to say there long enough to ride it out.

[Nancy_s soothsayer]

The pummelling of the subprime debtors won’t happen until Sept., Oct., and Nov. this year. That’s based on the Credit Suisse ARM Reset Schedule that most here gawked at weeks ago. IMHO the biggest yearly price drops haven’t happened yet. Okay, okay…. wait till next year, then. (But this is just me talking.) You may ignore or listen to me at your own risk as if I am not even here.

[Nancy_s soothsayer]

The pummelling of the subprime debtors won’t happen until Sept., Oct., and Nov. this year. That’s based on the Credit Suisse ARM Reset Schedule that most here gawked at weeks ago. IMHO the biggest yearly price drops haven’t happened yet. Okay, okay…. wait till next year, then. (But this is just me talking.) You may ignore or listen to me at your own risk as if I am not even here.

[gracie]

Both areas are nice…….Seems like I hear of people moving out of 4S. One of my friends said that basically her entire street/neighborhood has sold their homes and have moved in the last year and a half.
Not sure why. It may be the fact that the new area attracted lots of investors at first.

CV and Poway both have excellent schools.

[gracie]

Both areas are nice…….Seems like I hear of people moving out of 4S. One of my friends said that basically her entire street/neighborhood has sold their homes and have moved in the last year and a half.
Not sure why. It may be the fact that the new area attracted lots of investors at first.

CV and Poway both have excellent schools.

[ocrenter]

no, the difference between del mar schools vs. poway schools would not justify the difference in the housing prices.

if you and your wife can’t wait any more, then just go for it and enjoy!

[ocrenter]

no, the difference between del mar schools vs. poway schools would not justify the difference in the housing prices.

if you and your wife can’t wait any more, then just go for it and enjoy!

[waittobuy]

hi ocrenter, I like your blog a lot! I appreciate your opinions.

[waittobuy]

hi ocrenter, I like your blog a lot! I appreciate your opinions.

[an]

I agree that the difference in school should be negligible. If one is an 8 on a scale of 10 then the other is a 9. At that point, the capability of your kids will determine their outcome. The reason why I think the price is $120k more @ CV vs 4S is CV is closer to the beach. The closer you are to the ocean, the more expensive it is. That’s just my 2 cents.

[an]

I agree that the difference in school should be negligible. If one is an 8 on a scale of 10 then the other is a 9. At that point, the capability of your kids will determine their outcome. The reason why I think the price is $120k more @ CV vs 4S is CV is closer to the beach. The closer you are to the ocean, the more expensive it is. That’s just my 2 cents.

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