Serramar in La Mesa-good time to buy now?

[sunny88]

I’ve been watching this area for about 2 years and have noticed a significant drop of the prices here (30-35%).

There are currently a few homes on sale:
http://www.sdlookup.com/MLS-080065977-7640_Chicago_La_Mesa_Ca_91941
http://www.sdlookup.com/MLS-080077718-3960_Sacramento_Dr_La_Mesa_Ca_91941
http://www.sdlookup.com/MLS-080057357-7627_Seattle_Dr_La_Mesa_Ca_91941
http://www.sdlookup.com/MLS-080072280-7615_Eastridge_Dr_La_Mesa_Ca_91941
http://www.sdlookup.com/MLS-080081054-3935_Brooke_Ct_La_Mesa_Ca_91941

I would like to get your opinion.

[recordsclerk]

I still think that we have a ways to go in that neighborhood. If I remember correctly the models opened in March 2005, with some pre-sales in late 2004. I real estate friend said that there are a lot of no money down loans in this neighborhood. This is the perfect reciepe for forclosures. There have only been a few forclosures to this point and many more to come. Their is no Mello-Roos, but the HOA is in the high 200’s, I think it’s $270. I think we will see the smaller homes in the low-mid 400’s soon and the medium (no view) homes in the low 500’s soon. I would hold out for a view home with nice upgrades in the mid 500’s and larger view homes in the low 600’s.
Have you looked at the Lennar project in Santee? They have medium to large homes with nice views. There is no mello-roos and they are willing to bargin. The HOA is also high at $280, but it is gated and they have a tot lot and maintain all the slopes. I think the builder will have to do some more price reductions as the market corrects, but they have been changing prices accordingly.

[recordsclerk]

I still think that we have a ways to go in that neighborhood. If I remember correctly the models opened in March 2005, with some pre-sales in late 2004. I real estate friend said that there are a lot of no money down loans in this neighborhood. This is the perfect reciepe for forclosures. There have only been a few forclosures to this point and many more to come. Their is no Mello-Roos, but the HOA is in the high 200’s, I think it’s $270. I think we will see the smaller homes in the low-mid 400’s soon and the medium (no view) homes in the low 500’s soon. I would hold out for a view home with nice upgrades in the mid 500’s and larger view homes in the low 600’s.
Have you looked at the Lennar project in Santee? They have medium to large homes with nice views. There is no mello-roos and they are willing to bargin. The HOA is also high at $280, but it is gated and they have a tot lot and maintain all the slopes. I think the builder will have to do some more price reductions as the market corrects, but they have been changing prices accordingly.

[recordsclerk]

I still think that we have a ways to go in that neighborhood. If I remember correctly the models opened in March 2005, with some pre-sales in late 2004. I real estate friend said that there are a lot of no money down loans in this neighborhood. This is the perfect reciepe for forclosures. There have only been a few forclosures to this point and many more to come. Their is no Mello-Roos, but the HOA is in the high 200’s, I think it’s $270. I think we will see the smaller homes in the low-mid 400’s soon and the medium (no view) homes in the low 500’s soon. I would hold out for a view home with nice upgrades in the mid 500’s and larger view homes in the low 600’s.
Have you looked at the Lennar project in Santee? They have medium to large homes with nice views. There is no mello-roos and they are willing to bargin. The HOA is also high at $280, but it is gated and they have a tot lot and maintain all the slopes. I think the builder will have to do some more price reductions as the market corrects, but they have been changing prices accordingly.

[recordsclerk]

I still think that we have a ways to go in that neighborhood. If I remember correctly the models opened in March 2005, with some pre-sales in late 2004. I real estate friend said that there are a lot of no money down loans in this neighborhood. This is the perfect reciepe for forclosures. There have only been a few forclosures to this point and many more to come. Their is no Mello-Roos, but the HOA is in the high 200’s, I think it’s $270. I think we will see the smaller homes in the low-mid 400’s soon and the medium (no view) homes in the low 500’s soon. I would hold out for a view home with nice upgrades in the mid 500’s and larger view homes in the low 600’s.
Have you looked at the Lennar project in Santee? They have medium to large homes with nice views. There is no mello-roos and they are willing to bargin. The HOA is also high at $280, but it is gated and they have a tot lot and maintain all the slopes. I think the builder will have to do some more price reductions as the market corrects, but they have been changing prices accordingly.

[recordsclerk]

I still think that we have a ways to go in that neighborhood. If I remember correctly the models opened in March 2005, with some pre-sales in late 2004. I real estate friend said that there are a lot of no money down loans in this neighborhood. This is the perfect reciepe for forclosures. There have only been a few forclosures to this point and many more to come. Their is no Mello-Roos, but the HOA is in the high 200’s, I think it’s $270. I think we will see the smaller homes in the low-mid 400’s soon and the medium (no view) homes in the low 500’s soon. I would hold out for a view home with nice upgrades in the mid 500’s and larger view homes in the low 600’s.
Have you looked at the Lennar project in Santee? They have medium to large homes with nice views. There is no mello-roos and they are willing to bargin. The HOA is also high at $280, but it is gated and they have a tot lot and maintain all the slopes. I think the builder will have to do some more price reductions as the market corrects, but they have been changing prices accordingly.

[sunny88]

Recordsclerk,

thank you for your comments. I think that the prices will drop further too once more homeowners in this neighborhood are unable to make their mortgage payments. I did take a look at the remaining models and think that the prices are still way too high. The current HOA is $261. I like the convenient location as I work in La Mesa near Grossmont Hospital.
I did go to Santee to take a look at the “Skyranch” homes. The location on the hill is attractive if you get a view lot. Those homes are also not selling well right now and hopefully they will lower the prices further. I will definitely wait at least until the middle of 2009 before making an offer on one of these homes. Please let me know if you have any important news about this neighborhood.

[sunny88]

Recordsclerk,

thank you for your comments. I think that the prices will drop further too once more homeowners in this neighborhood are unable to make their mortgage payments. I did take a look at the remaining models and think that the prices are still way too high. The current HOA is $261. I like the convenient location as I work in La Mesa near Grossmont Hospital.
I did go to Santee to take a look at the “Skyranch” homes. The location on the hill is attractive if you get a view lot. Those homes are also not selling well right now and hopefully they will lower the prices further. I will definitely wait at least until the middle of 2009 before making an offer on one of these homes. Please let me know if you have any important news about this neighborhood.

[sunny88]

Recordsclerk,

thank you for your comments. I think that the prices will drop further too once more homeowners in this neighborhood are unable to make their mortgage payments. I did take a look at the remaining models and think that the prices are still way too high. The current HOA is $261. I like the convenient location as I work in La Mesa near Grossmont Hospital.
I did go to Santee to take a look at the “Skyranch” homes. The location on the hill is attractive if you get a view lot. Those homes are also not selling well right now and hopefully they will lower the prices further. I will definitely wait at least until the middle of 2009 before making an offer on one of these homes. Please let me know if you have any important news about this neighborhood.

[sunny88]

Recordsclerk,

thank you for your comments. I think that the prices will drop further too once more homeowners in this neighborhood are unable to make their mortgage payments. I did take a look at the remaining models and think that the prices are still way too high. The current HOA is $261. I like the convenient location as I work in La Mesa near Grossmont Hospital.
I did go to Santee to take a look at the “Skyranch” homes. The location on the hill is attractive if you get a view lot. Those homes are also not selling well right now and hopefully they will lower the prices further. I will definitely wait at least until the middle of 2009 before making an offer on one of these homes. Please let me know if you have any important news about this neighborhood.

[sunny88]

Recordsclerk,

thank you for your comments. I think that the prices will drop further too once more homeowners in this neighborhood are unable to make their mortgage payments. I did take a look at the remaining models and think that the prices are still way too high. The current HOA is $261. I like the convenient location as I work in La Mesa near Grossmont Hospital.
I did go to Santee to take a look at the “Skyranch” homes. The location on the hill is attractive if you get a view lot. Those homes are also not selling well right now and hopefully they will lower the prices further. I will definitely wait at least until the middle of 2009 before making an offer on one of these homes. Please let me know if you have any important news about this neighborhood.

[Aecetia]

Here is one that is a bank owned of similar size with a lower HOA, no Mello Roos and it has its own pool for $699. It is not in La Mesa, but it is by the Singing Hills golf course in El Cajon. For less money it is a better buy!

http://www.zillow.com/homedetails/1751-Corte-De-Las-Piedras-El-Cajon-CA-92019/17056399_zpid/

[Aecetia]

Here is one that is a bank owned of similar size with a lower HOA, no Mello Roos and it has its own pool for $699. It is not in La Mesa, but it is by the Singing Hills golf course in El Cajon. For less money it is a better buy!

http://www.zillow.com/homedetails/1751-Corte-De-Las-Piedras-El-Cajon-CA-92019/17056399_zpid/

[Aecetia]

Here is one that is a bank owned of similar size with a lower HOA, no Mello Roos and it has its own pool for $699. It is not in La Mesa, but it is by the Singing Hills golf course in El Cajon. For less money it is a better buy!

http://www.zillow.com/homedetails/1751-Corte-De-Las-Piedras-El-Cajon-CA-92019/17056399_zpid/

[Aecetia]

Here is one that is a bank owned of similar size with a lower HOA, no Mello Roos and it has its own pool for $699. It is not in La Mesa, but it is by the Singing Hills golf course in El Cajon. For less money it is a better buy!

http://www.zillow.com/homedetails/1751-Corte-De-Las-Piedras-El-Cajon-CA-92019/17056399_zpid/

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