Should we panic?

[Eugene]

509 for a 1299 sf house in Carlsbad, or $392/sf? To me that’s a definite sign that the NCC housing market is improving, if not going into a second housing bubble, and you should definitely hold off selling.

[sdrealtor]

Eugene
You cant go by a $/sf for a house that small in an area like this where the land is worth a large portion of the total value. That same lot could easily have a 3000 sq ft home on it which would pull the $/sf down under $250.

[sdrealtor]

Eugene
You cant go by a $/sf for a house that small in an area like this where the land is worth a large portion of the total value. That same lot could easily have a 3000 sq ft home on it which would pull the $/sf down under $250.

[sdrealtor]

Eugene
You cant go by a $/sf for a house that small in an area like this where the land is worth a large portion of the total value. That same lot could easily have a 3000 sq ft home on it which would pull the $/sf down under $250.

[sdrealtor]

Eugene
You cant go by a $/sf for a house that small in an area like this where the land is worth a large portion of the total value. That same lot could easily have a 3000 sq ft home on it which would pull the $/sf down under $250.

[sdrealtor]

Eugene
You cant go by a $/sf for a house that small in an area like this where the land is worth a large portion of the total value. That same lot could easily have a 3000 sq ft home on it which would pull the $/sf down under $250.

[Eugene]

[quote]That same lot could easily have a 3000 sq ft home on it which would pull the $/sf down under $250.[/quote]

It could, but it doesn’t. And no one is going to spend $500k to buy this house and then $400-500k to replace it with a 3000 sq ft house that is worth, as you say, under 750k. So I fail to see the relevance.

Houses of similar size and quality were selling two years ago in 92129 (arguably a better area) for high 300’s and low 400’s.

[Eugene]

[quote]That same lot could easily have a 3000 sq ft home on it which would pull the $/sf down under $250.[/quote]

It could, but it doesn’t. And no one is going to spend $500k to buy this house and then $400-500k to replace it with a 3000 sq ft house that is worth, as you say, under 750k. So I fail to see the relevance.

Houses of similar size and quality were selling two years ago in 92129 (arguably a better area) for high 300’s and low 400’s.

[Eugene]

[quote]That same lot could easily have a 3000 sq ft home on it which would pull the $/sf down under $250.[/quote]

It could, but it doesn’t. And no one is going to spend $500k to buy this house and then $400-500k to replace it with a 3000 sq ft house that is worth, as you say, under 750k. So I fail to see the relevance.

Houses of similar size and quality were selling two years ago in 92129 (arguably a better area) for high 300’s and low 400’s.

[Eugene]

[quote]That same lot could easily have a 3000 sq ft home on it which would pull the $/sf down under $250.[/quote]

It could, but it doesn’t. And no one is going to spend $500k to buy this house and then $400-500k to replace it with a 3000 sq ft house that is worth, as you say, under 750k. So I fail to see the relevance.

Houses of similar size and quality were selling two years ago in 92129 (arguably a better area) for high 300’s and low 400’s.

[Eugene]

[quote]That same lot could easily have a 3000 sq ft home on it which would pull the $/sf down under $250.[/quote]

It could, but it doesn’t. And no one is going to spend $500k to buy this house and then $400-500k to replace it with a 3000 sq ft house that is worth, as you say, under 750k. So I fail to see the relevance.

Houses of similar size and quality were selling two years ago in 92129 (arguably a better area) for high 300’s and low 400’s.

[sdrealtor]

Eugene
The point is $/sf comparisons are only valid when you are comparing the same size house. A 10×10 tent (100 sf) on a lot like that would sell for lot value and the $/sf would be over $3000/sf.

I sold some of those houses in PQ a year and 2 years ago. The ones this size were far inferior quality as was the area. The subject house feeds into one of the top elementary schools in the county, is 2 miles to the beach and located in a much more upscale area.

I short sold one of the lowest comps in the PQ area over a year ago. It was a complete dump of house with 960 sq ft and it sold for $360K. It needed a major amount of work and didnt have nearly as nice a lot as well as some ambient freeway noise from the 15.

[sdrealtor]

Eugene
The point is $/sf comparisons are only valid when you are comparing the same size house. A 10×10 tent (100 sf) on a lot like that would sell for lot value and the $/sf would be over $3000/sf.

I sold some of those houses in PQ a year and 2 years ago. The ones this size were far inferior quality as was the area. The subject house feeds into one of the top elementary schools in the county, is 2 miles to the beach and located in a much more upscale area.

I short sold one of the lowest comps in the PQ area over a year ago. It was a complete dump of house with 960 sq ft and it sold for $360K. It needed a major amount of work and didnt have nearly as nice a lot as well as some ambient freeway noise from the 15.

[sdrealtor]

Eugene
The point is $/sf comparisons are only valid when you are comparing the same size house. A 10×10 tent (100 sf) on a lot like that would sell for lot value and the $/sf would be over $3000/sf.

I sold some of those houses in PQ a year and 2 years ago. The ones this size were far inferior quality as was the area. The subject house feeds into one of the top elementary schools in the county, is 2 miles to the beach and located in a much more upscale area.

I short sold one of the lowest comps in the PQ area over a year ago. It was a complete dump of house with 960 sq ft and it sold for $360K. It needed a major amount of work and didnt have nearly as nice a lot as well as some ambient freeway noise from the 15.

[sdrealtor]

Eugene
The point is $/sf comparisons are only valid when you are comparing the same size house. A 10×10 tent (100 sf) on a lot like that would sell for lot value and the $/sf would be over $3000/sf.

I sold some of those houses in PQ a year and 2 years ago. The ones this size were far inferior quality as was the area. The subject house feeds into one of the top elementary schools in the county, is 2 miles to the beach and located in a much more upscale area.

I short sold one of the lowest comps in the PQ area over a year ago. It was a complete dump of house with 960 sq ft and it sold for $360K. It needed a major amount of work and didnt have nearly as nice a lot as well as some ambient freeway noise from the 15.

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