Some questions about Stonebridge

[ocrenter]

the MR for stonebridge equals loss of $100k in buying power.

13126 Downing at 3800 sqft just closed for $700k, that translates to $182/sqft. even adding the mello roos penalty of $100k to the price, that’s still at $210/sqft. still very reasonable.

some of the homes by City Ventures sold for close to $750k at 3700 sqft. still not a bad deal after adding the $100k MR penalty.

if you can find deals and if after adding the MR penalty is still in the low $200/sqft range, why not?

of course, there are plenty of folks paying retail or above in Stonebridge. and plus the MR. now that doesn’t make any sense.

[bearishgurl]

[quote=joec]bearishgurl, I think if you look at my message again, my point is that MR PROPERTIES ARE PROBABLY LOWER IN VALUE THAN ONES WITHOUT.[/quote]

Agreed, joec. So, why would someone want to put payments into nothing every month instead of use them for loan interest so they’re presumably paying for “value” (and also receiving a tax write-off for the interest?? Or use them at Home Depot to purchase “value” for the property.

[quote=joec]Yes, I meant to scream that at you. I said: “Places with higher MR, the house ends up cheaper, lower MR, higher house price…”[/quote]

[quote-ocrenter]the MR for stonebridge equals loss of $100k in buying power.[/quote]

Let’s take a look. I tried to use active comparables located in the SAME SCH DIST as Stonebridge with comparable sq. footage. I will assume that all Piggs interested in Stonebridge have 6-12 family members living with them “necessitating” 5000 sf, but I won’t judge here.

Stonebridge actives

http://www.sdlookup.com/MLS-100054326-13348_Shadetree_Ct_San_Diego_CA_92131
Asking price = $799K to $999K (short sale)
MR = $4400 yr * or $110K for 25 yrs (of 30) left
HOA Dues = $1728 yr
5120 sf/11,200 sf lot

http://www.sdlookup.com/MLS-100052029-14518_Whispering_Ridge_Rd_San_Diego_CA_92131
Asking price = $999K
MR=$5000 yr* or $150K for 30 yrs
HOA Dues = $1872 yr
5007 sf/14,012 lot

http://www.sdlookup.com/MLS-100019378-14719_Whispering_Ridge_Rd_San_Diego_CA_92131
Asking price = $990K
MR=$5900 yr* or $153,400 for 26 yrs (of 30) left.
HOA Dues=$1704 yr
5599 sf/.62 AC lot

Rancho Bernardo Actives

http://www.sdlookup.com/MLS-100045317-12285_Fairway_Pointe_Row_San_Diego_CA_92128
Asking price = $945K
MR=$0
HOA Dues=$2520 yr (gated comm. on golf course)
4675 sf/9247 sf lot

Poway Actives

http://www.sdlookup.com/MLS-100052725-16224_Orchard_Bend_Rd_Poway_CA_92064
Asking price = $959K (teardown/remodel 1990)
MR=$0
HOA Dues=$0
5877 sf/1.57 AC lot

* denotes correct figure IF ALL CFD’s were properly accounted for in listing (I would not trust listing agent’s word here).

[quote=joec]If they can buy in La Jolla and Del Mar for the space, schools and location they want, you can bet they would.[/quote]

joec, I know you’re smart and didn’t fall off a turnip truck yesterday, but LJ AND DM (coastal/urban & suburban with few tracts) are NOT even in the same category as Stonebridge, Scripps Ranch, Poway or Rancho Bernardo, all of which are inland suburban and nearly entirely built on tract. You are comparing apples to oranges here, in both property type and buyer type, thus a buyer shopping in one type most likely would NOT be shopping in the other type.

Joec, is what you’re trying to say here that you would NOT consider purchasing an OLDER property unless it was in LJ or DM? And since these two areas are “out of reach” price-wise, you would only consider purchasing NEW(ER) property located inland (with MR)? Please elaborate.

[bearishgurl]

[quote=joec]bearishgurl, I think if you look at my message again, my point is that MR PROPERTIES ARE PROBABLY LOWER IN VALUE THAN ONES WITHOUT.[/quote]

Agreed, joec. So, why would someone want to put payments into nothing every month instead of use them for loan interest so they’re presumably paying for “value” (and also receiving a tax write-off for the interest?? Or use them at Home Depot to purchase “value” for the property.

[quote=joec]Yes, I meant to scream that at you. I said: “Places with higher MR, the house ends up cheaper, lower MR, higher house price…”[/quote]

[quote-ocrenter]the MR for stonebridge equals loss of $100k in buying power.[/quote]

Let’s take a look. I tried to use active comparables located in the SAME SCH DIST as Stonebridge with comparable sq. footage. I will assume that all Piggs interested in Stonebridge have 6-12 family members living with them “necessitating” 5000 sf, but I won’t judge here.

Stonebridge actives

http://www.sdlookup.com/MLS-100054326-13348_Shadetree_Ct_San_Diego_CA_92131
Asking price = $799K to $999K (short sale)
MR = $4400 yr * or $110K for 25 yrs (of 30) left
HOA Dues = $1728 yr
5120 sf/11,200 sf lot

http://www.sdlookup.com/MLS-100052029-14518_Whispering_Ridge_Rd_San_Diego_CA_92131
Asking price = $999K
MR=$5000 yr* or $150K for 30 yrs
HOA Dues = $1872 yr
5007 sf/14,012 lot

http://www.sdlookup.com/MLS-100019378-14719_Whispering_Ridge_Rd_San_Diego_CA_92131
Asking price = $990K
MR=$5900 yr* or $153,400 for 26 yrs (of 30) left.
HOA Dues=$1704 yr
5599 sf/.62 AC lot

Rancho Bernardo Actives

http://www.sdlookup.com/MLS-100045317-12285_Fairway_Pointe_Row_San_Diego_CA_92128
Asking price = $945K
MR=$0
HOA Dues=$2520 yr (gated comm. on golf course)
4675 sf/9247 sf lot

Poway Actives

http://www.sdlookup.com/MLS-100052725-16224_Orchard_Bend_Rd_Poway_CA_92064
Asking price = $959K (teardown/remodel 1990)
MR=$0
HOA Dues=$0
5877 sf/1.57 AC lot

* denotes correct figure IF ALL CFD’s were properly accounted for in listing (I would not trust listing agent’s word here).

[quote=joec]If they can buy in La Jolla and Del Mar for the space, schools and location they want, you can bet they would.[/quote]

joec, I know you’re smart and didn’t fall off a turnip truck yesterday, but LJ AND DM (coastal/urban & suburban with few tracts) are NOT even in the same category as Stonebridge, Scripps Ranch, Poway or Rancho Bernardo, all of which are inland suburban and nearly entirely built on tract. You are comparing apples to oranges here, in both property type and buyer type, thus a buyer shopping in one type most likely would NOT be shopping in the other type.

Joec, is what you’re trying to say here that you would NOT consider purchasing an OLDER property unless it was in LJ or DM? And since these two areas are “out of reach” price-wise, you would only consider purchasing NEW(ER) property located inland (with MR)? Please elaborate.

[bearishgurl]

[quote=joec]bearishgurl, I think if you look at my message again, my point is that MR PROPERTIES ARE PROBABLY LOWER IN VALUE THAN ONES WITHOUT.[/quote]

Agreed, joec. So, why would someone want to put payments into nothing every month instead of use them for loan interest so they’re presumably paying for “value” (and also receiving a tax write-off for the interest?? Or use them at Home Depot to purchase “value” for the property.

[quote=joec]Yes, I meant to scream that at you. I said: “Places with higher MR, the house ends up cheaper, lower MR, higher house price…”[/quote]

[quote-ocrenter]the MR for stonebridge equals loss of $100k in buying power.[/quote]

Let’s take a look. I tried to use active comparables located in the SAME SCH DIST as Stonebridge with comparable sq. footage. I will assume that all Piggs interested in Stonebridge have 6-12 family members living with them “necessitating” 5000 sf, but I won’t judge here.

Stonebridge actives

http://www.sdlookup.com/MLS-100054326-13348_Shadetree_Ct_San_Diego_CA_92131
Asking price = $799K to $999K (short sale)
MR = $4400 yr * or $110K for 25 yrs (of 30) left
HOA Dues = $1728 yr
5120 sf/11,200 sf lot

http://www.sdlookup.com/MLS-100052029-14518_Whispering_Ridge_Rd_San_Diego_CA_92131
Asking price = $999K
MR=$5000 yr* or $150K for 30 yrs
HOA Dues = $1872 yr
5007 sf/14,012 lot

http://www.sdlookup.com/MLS-100019378-14719_Whispering_Ridge_Rd_San_Diego_CA_92131
Asking price = $990K
MR=$5900 yr* or $153,400 for 26 yrs (of 30) left.
HOA Dues=$1704 yr
5599 sf/.62 AC lot

Rancho Bernardo Actives

http://www.sdlookup.com/MLS-100045317-12285_Fairway_Pointe_Row_San_Diego_CA_92128
Asking price = $945K
MR=$0
HOA Dues=$2520 yr (gated comm. on golf course)
4675 sf/9247 sf lot

Poway Actives

http://www.sdlookup.com/MLS-100052725-16224_Orchard_Bend_Rd_Poway_CA_92064
Asking price = $959K (teardown/remodel 1990)
MR=$0
HOA Dues=$0
5877 sf/1.57 AC lot

* denotes correct figure IF ALL CFD’s were properly accounted for in listing (I would not trust listing agent’s word here).

[quote=joec]If they can buy in La Jolla and Del Mar for the space, schools and location they want, you can bet they would.[/quote]

joec, I know you’re smart and didn’t fall off a turnip truck yesterday, but LJ AND DM (coastal/urban & suburban with few tracts) are NOT even in the same category as Stonebridge, Scripps Ranch, Poway or Rancho Bernardo, all of which are inland suburban and nearly entirely built on tract. You are comparing apples to oranges here, in both property type and buyer type, thus a buyer shopping in one type most likely would NOT be shopping in the other type.

Joec, is what you’re trying to say here that you would NOT consider purchasing an OLDER property unless it was in LJ or DM? And since these two areas are “out of reach” price-wise, you would only consider purchasing NEW(ER) property located inland (with MR)? Please elaborate.

[bearishgurl]

[quote=joec]bearishgurl, I think if you look at my message again, my point is that MR PROPERTIES ARE PROBABLY LOWER IN VALUE THAN ONES WITHOUT.[/quote]

Agreed, joec. So, why would someone want to put payments into nothing every month instead of use them for loan interest so they’re presumably paying for “value” (and also receiving a tax write-off for the interest?? Or use them at Home Depot to purchase “value” for the property.

[quote=joec]Yes, I meant to scream that at you. I said: “Places with higher MR, the house ends up cheaper, lower MR, higher house price…”[/quote]

[quote-ocrenter]the MR for stonebridge equals loss of $100k in buying power.[/quote]

Let’s take a look. I tried to use active comparables located in the SAME SCH DIST as Stonebridge with comparable sq. footage. I will assume that all Piggs interested in Stonebridge have 6-12 family members living with them “necessitating” 5000 sf, but I won’t judge here.

Stonebridge actives

http://www.sdlookup.com/MLS-100054326-13348_Shadetree_Ct_San_Diego_CA_92131
Asking price = $799K to $999K (short sale)
MR = $4400 yr * or $110K for 25 yrs (of 30) left
HOA Dues = $1728 yr
5120 sf/11,200 sf lot

http://www.sdlookup.com/MLS-100052029-14518_Whispering_Ridge_Rd_San_Diego_CA_92131
Asking price = $999K
MR=$5000 yr* or $150K for 30 yrs
HOA Dues = $1872 yr
5007 sf/14,012 lot

http://www.sdlookup.com/MLS-100019378-14719_Whispering_Ridge_Rd_San_Diego_CA_92131
Asking price = $990K
MR=$5900 yr* or $153,400 for 26 yrs (of 30) left.
HOA Dues=$1704 yr
5599 sf/.62 AC lot

Rancho Bernardo Actives

http://www.sdlookup.com/MLS-100045317-12285_Fairway_Pointe_Row_San_Diego_CA_92128
Asking price = $945K
MR=$0
HOA Dues=$2520 yr (gated comm. on golf course)
4675 sf/9247 sf lot

Poway Actives

http://www.sdlookup.com/MLS-100052725-16224_Orchard_Bend_Rd_Poway_CA_92064
Asking price = $959K (teardown/remodel 1990)
MR=$0
HOA Dues=$0
5877 sf/1.57 AC lot

* denotes correct figure IF ALL CFD’s were properly accounted for in listing (I would not trust listing agent’s word here).

[quote=joec]If they can buy in La Jolla and Del Mar for the space, schools and location they want, you can bet they would.[/quote]

joec, I know you’re smart and didn’t fall off a turnip truck yesterday, but LJ AND DM (coastal/urban & suburban with few tracts) are NOT even in the same category as Stonebridge, Scripps Ranch, Poway or Rancho Bernardo, all of which are inland suburban and nearly entirely built on tract. You are comparing apples to oranges here, in both property type and buyer type, thus a buyer shopping in one type most likely would NOT be shopping in the other type.

Joec, is what you’re trying to say here that you would NOT consider purchasing an OLDER property unless it was in LJ or DM? And since these two areas are “out of reach” price-wise, you would only consider purchasing NEW(ER) property located inland (with MR)? Please elaborate.

[bearishgurl]

[quote=joec]bearishgurl, I think if you look at my message again, my point is that MR PROPERTIES ARE PROBABLY LOWER IN VALUE THAN ONES WITHOUT.[/quote]

Agreed, joec. So, why would someone want to put payments into nothing every month instead of use them for loan interest so they’re presumably paying for “value” (and also receiving a tax write-off for the interest?? Or use them at Home Depot to purchase “value” for the property.

[quote=joec]Yes, I meant to scream that at you. I said: “Places with higher MR, the house ends up cheaper, lower MR, higher house price…”[/quote]

[quote-ocrenter]the MR for stonebridge equals loss of $100k in buying power.[/quote]

Let’s take a look. I tried to use active comparables located in the SAME SCH DIST as Stonebridge with comparable sq. footage. I will assume that all Piggs interested in Stonebridge have 6-12 family members living with them “necessitating” 5000 sf, but I won’t judge here.

Stonebridge actives

http://www.sdlookup.com/MLS-100054326-13348_Shadetree_Ct_San_Diego_CA_92131
Asking price = $799K to $999K (short sale)
MR = $4400 yr * or $110K for 25 yrs (of 30) left
HOA Dues = $1728 yr
5120 sf/11,200 sf lot

http://www.sdlookup.com/MLS-100052029-14518_Whispering_Ridge_Rd_San_Diego_CA_92131
Asking price = $999K
MR=$5000 yr* or $150K for 30 yrs
HOA Dues = $1872 yr
5007 sf/14,012 lot

http://www.sdlookup.com/MLS-100019378-14719_Whispering_Ridge_Rd_San_Diego_CA_92131
Asking price = $990K
MR=$5900 yr* or $153,400 for 26 yrs (of 30) left.
HOA Dues=$1704 yr
5599 sf/.62 AC lot

Rancho Bernardo Actives

http://www.sdlookup.com/MLS-100045317-12285_Fairway_Pointe_Row_San_Diego_CA_92128
Asking price = $945K
MR=$0
HOA Dues=$2520 yr (gated comm. on golf course)
4675 sf/9247 sf lot

Poway Actives

http://www.sdlookup.com/MLS-100052725-16224_Orchard_Bend_Rd_Poway_CA_92064
Asking price = $959K (teardown/remodel 1990)
MR=$0
HOA Dues=$0
5877 sf/1.57 AC lot

* denotes correct figure IF ALL CFD’s were properly accounted for in listing (I would not trust listing agent’s word here).

[quote=joec]If they can buy in La Jolla and Del Mar for the space, schools and location they want, you can bet they would.[/quote]

joec, I know you’re smart and didn’t fall off a turnip truck yesterday, but LJ AND DM (coastal/urban & suburban with few tracts) are NOT even in the same category as Stonebridge, Scripps Ranch, Poway or Rancho Bernardo, all of which are inland suburban and nearly entirely built on tract. You are comparing apples to oranges here, in both property type and buyer type, thus a buyer shopping in one type most likely would NOT be shopping in the other type.

Joec, is what you’re trying to say here that you would NOT consider purchasing an OLDER property unless it was in LJ or DM? And since these two areas are “out of reach” price-wise, you would only consider purchasing NEW(ER) property located inland (with MR)? Please elaborate.

[an]

bearishgurl, one big difference I see is the kitchen between the old vs new. Another would be the layout. Most people don’t want to remodel. They want move in ready homes.

These are sold comps near the Orchard Bend house you presented:
http://www.sdlookup.com/MLS-090011393-13568_Orchard_Gate_Poway_CA_92064

http://www.sdlookup.com/MLS-100011304-13129_Wild_Flower_Ln_Poway_CA_92064

My biggest question is, what is wrong w/ the Orchard Bend house that’s causing it to not sell at its current price while its direct comps sold for around $1.32-$1.47M? Considering the Orchard Bend house is much bigger and sit on a bigger lot as well.

[an]

bearishgurl, one big difference I see is the kitchen between the old vs new. Another would be the layout. Most people don’t want to remodel. They want move in ready homes.

These are sold comps near the Orchard Bend house you presented:
http://www.sdlookup.com/MLS-090011393-13568_Orchard_Gate_Poway_CA_92064

http://www.sdlookup.com/MLS-100011304-13129_Wild_Flower_Ln_Poway_CA_92064

My biggest question is, what is wrong w/ the Orchard Bend house that’s causing it to not sell at its current price while its direct comps sold for around $1.32-$1.47M? Considering the Orchard Bend house is much bigger and sit on a bigger lot as well.

[an]

bearishgurl, one big difference I see is the kitchen between the old vs new. Another would be the layout. Most people don’t want to remodel. They want move in ready homes.

These are sold comps near the Orchard Bend house you presented:
http://www.sdlookup.com/MLS-090011393-13568_Orchard_Gate_Poway_CA_92064

http://www.sdlookup.com/MLS-100011304-13129_Wild_Flower_Ln_Poway_CA_92064

My biggest question is, what is wrong w/ the Orchard Bend house that’s causing it to not sell at its current price while its direct comps sold for around $1.32-$1.47M? Considering the Orchard Bend house is much bigger and sit on a bigger lot as well.

[an]

bearishgurl, one big difference I see is the kitchen between the old vs new. Another would be the layout. Most people don’t want to remodel. They want move in ready homes.

These are sold comps near the Orchard Bend house you presented:
http://www.sdlookup.com/MLS-090011393-13568_Orchard_Gate_Poway_CA_92064

http://www.sdlookup.com/MLS-100011304-13129_Wild_Flower_Ln_Poway_CA_92064

My biggest question is, what is wrong w/ the Orchard Bend house that’s causing it to not sell at its current price while its direct comps sold for around $1.32-$1.47M? Considering the Orchard Bend house is much bigger and sit on a bigger lot as well.

[an]

bearishgurl, one big difference I see is the kitchen between the old vs new. Another would be the layout. Most people don’t want to remodel. They want move in ready homes.

These are sold comps near the Orchard Bend house you presented:
http://www.sdlookup.com/MLS-090011393-13568_Orchard_Gate_Poway_CA_92064

http://www.sdlookup.com/MLS-100011304-13129_Wild_Flower_Ln_Poway_CA_92064

My biggest question is, what is wrong w/ the Orchard Bend house that’s causing it to not sell at its current price while its direct comps sold for around $1.32-$1.47M? Considering the Orchard Bend house is much bigger and sit on a bigger lot as well.

[bearishgurl]

[quote=AN]bearishgurl, one big difference I see is the kitchen between the old vs new. Another would be the layout. Most people don’t want to remodel. They want move in ready homes.[/quote]

AN, the layout of the large Stonebridge homes seemed a little broken up to me in the photos, but I have not actually toured them.

I don’t really see anything wrong with the layout of either of my two active comps. As far as older appls v. new (Orchard Bend listing), are those worth $45K+ more in asking price + the remaining cost of the MR in the Stonebridge listings (RB had new appls)? Both my RB and Poway listings were very well landscaped (mature landscaping) and both had new countertops (granite/corian). Both listings had beautiful private pools and the RB listing also had a raised attached jacuzzi overlooking the golf course. Yes, the RB lot was a little smaller (inside a gated assn).

[quote=AN]These are sold comps near the Orchard Bend house you presented:
http://www.sdlookup.com/MLS-090011393-13568_Orchard_Gate_Poway_CA_92064

http://www.sdlookup.com/MLS-100011304-13129_Wild_Flower_Ln_Poway_CA_92064

My biggest question is, what is wrong w/ the Orchard Bend house that’s causing it to not sell at its current price while its direct comps sold for around $1.32-$1.47M? Considering the Orchard Bend house is much bigger and sit on a bigger lot as well.[/quote]

This is a custom area, AN. Whatever the problem is (some work was done that may have been unpermitted, perhaps?), will it cost $361K to $516K to fix?? That is the difference between the asking price of my Orchard Bend active and the recent nearby solds you furnished. Not to mention it’s zoned for horses as well.

IMO, after about 3500 sf or so of living space, I don’t think the ppsf matters as much. Above 4500 sf, I believe the ppsf should be about half of that of a 1500 sf property in the same area. Due to economies of scale, it costs the same amount to re-roof a 2000 sf one-story house with a 3 car garage as it does a 5000 sf two-story house with the garage under part of the living space. This theory applies to ALL building materials.

What I’m saying here, is ppsf isn’t everything. When comparing properties in the same area, the WHOLE PKG has to be looked at such as, “How long will it take these stick trees to reach 40 feet high and shade this patio?” ETC . . .

[bearishgurl]

[quote=AN]bearishgurl, one big difference I see is the kitchen between the old vs new. Another would be the layout. Most people don’t want to remodel. They want move in ready homes.[/quote]

AN, the layout of the large Stonebridge homes seemed a little broken up to me in the photos, but I have not actually toured them.

I don’t really see anything wrong with the layout of either of my two active comps. As far as older appls v. new (Orchard Bend listing), are those worth $45K+ more in asking price + the remaining cost of the MR in the Stonebridge listings (RB had new appls)? Both my RB and Poway listings were very well landscaped (mature landscaping) and both had new countertops (granite/corian). Both listings had beautiful private pools and the RB listing also had a raised attached jacuzzi overlooking the golf course. Yes, the RB lot was a little smaller (inside a gated assn).

[quote=AN]These are sold comps near the Orchard Bend house you presented:
http://www.sdlookup.com/MLS-090011393-13568_Orchard_Gate_Poway_CA_92064

http://www.sdlookup.com/MLS-100011304-13129_Wild_Flower_Ln_Poway_CA_92064

My biggest question is, what is wrong w/ the Orchard Bend house that’s causing it to not sell at its current price while its direct comps sold for around $1.32-$1.47M? Considering the Orchard Bend house is much bigger and sit on a bigger lot as well.[/quote]

This is a custom area, AN. Whatever the problem is (some work was done that may have been unpermitted, perhaps?), will it cost $361K to $516K to fix?? That is the difference between the asking price of my Orchard Bend active and the recent nearby solds you furnished. Not to mention it’s zoned for horses as well.

IMO, after about 3500 sf or so of living space, I don’t think the ppsf matters as much. Above 4500 sf, I believe the ppsf should be about half of that of a 1500 sf property in the same area. Due to economies of scale, it costs the same amount to re-roof a 2000 sf one-story house with a 3 car garage as it does a 5000 sf two-story house with the garage under part of the living space. This theory applies to ALL building materials.

What I’m saying here, is ppsf isn’t everything. When comparing properties in the same area, the WHOLE PKG has to be looked at such as, “How long will it take these stick trees to reach 40 feet high and shade this patio?” ETC . . .

[bearishgurl]

[quote=AN]bearishgurl, one big difference I see is the kitchen between the old vs new. Another would be the layout. Most people don’t want to remodel. They want move in ready homes.[/quote]

AN, the layout of the large Stonebridge homes seemed a little broken up to me in the photos, but I have not actually toured them.

I don’t really see anything wrong with the layout of either of my two active comps. As far as older appls v. new (Orchard Bend listing), are those worth $45K+ more in asking price + the remaining cost of the MR in the Stonebridge listings (RB had new appls)? Both my RB and Poway listings were very well landscaped (mature landscaping) and both had new countertops (granite/corian). Both listings had beautiful private pools and the RB listing also had a raised attached jacuzzi overlooking the golf course. Yes, the RB lot was a little smaller (inside a gated assn).

[quote=AN]These are sold comps near the Orchard Bend house you presented:
http://www.sdlookup.com/MLS-090011393-13568_Orchard_Gate_Poway_CA_92064

http://www.sdlookup.com/MLS-100011304-13129_Wild_Flower_Ln_Poway_CA_92064

My biggest question is, what is wrong w/ the Orchard Bend house that’s causing it to not sell at its current price while its direct comps sold for around $1.32-$1.47M? Considering the Orchard Bend house is much bigger and sit on a bigger lot as well.[/quote]

This is a custom area, AN. Whatever the problem is (some work was done that may have been unpermitted, perhaps?), will it cost $361K to $516K to fix?? That is the difference between the asking price of my Orchard Bend active and the recent nearby solds you furnished. Not to mention it’s zoned for horses as well.

IMO, after about 3500 sf or so of living space, I don’t think the ppsf matters as much. Above 4500 sf, I believe the ppsf should be about half of that of a 1500 sf property in the same area. Due to economies of scale, it costs the same amount to re-roof a 2000 sf one-story house with a 3 car garage as it does a 5000 sf two-story house with the garage under part of the living space. This theory applies to ALL building materials.

What I’m saying here, is ppsf isn’t everything. When comparing properties in the same area, the WHOLE PKG has to be looked at such as, “How long will it take these stick trees to reach 40 feet high and shade this patio?” ETC . . .

[bearishgurl]

[quote=AN]bearishgurl, one big difference I see is the kitchen between the old vs new. Another would be the layout. Most people don’t want to remodel. They want move in ready homes.[/quote]

AN, the layout of the large Stonebridge homes seemed a little broken up to me in the photos, but I have not actually toured them.

I don’t really see anything wrong with the layout of either of my two active comps. As far as older appls v. new (Orchard Bend listing), are those worth $45K+ more in asking price + the remaining cost of the MR in the Stonebridge listings (RB had new appls)? Both my RB and Poway listings were very well landscaped (mature landscaping) and both had new countertops (granite/corian). Both listings had beautiful private pools and the RB listing also had a raised attached jacuzzi overlooking the golf course. Yes, the RB lot was a little smaller (inside a gated assn).

[quote=AN]These are sold comps near the Orchard Bend house you presented:
http://www.sdlookup.com/MLS-090011393-13568_Orchard_Gate_Poway_CA_92064

http://www.sdlookup.com/MLS-100011304-13129_Wild_Flower_Ln_Poway_CA_92064

My biggest question is, what is wrong w/ the Orchard Bend house that’s causing it to not sell at its current price while its direct comps sold for around $1.32-$1.47M? Considering the Orchard Bend house is much bigger and sit on a bigger lot as well.[/quote]

This is a custom area, AN. Whatever the problem is (some work was done that may have been unpermitted, perhaps?), will it cost $361K to $516K to fix?? That is the difference between the asking price of my Orchard Bend active and the recent nearby solds you furnished. Not to mention it’s zoned for horses as well.

IMO, after about 3500 sf or so of living space, I don’t think the ppsf matters as much. Above 4500 sf, I believe the ppsf should be about half of that of a 1500 sf property in the same area. Due to economies of scale, it costs the same amount to re-roof a 2000 sf one-story house with a 3 car garage as it does a 5000 sf two-story house with the garage under part of the living space. This theory applies to ALL building materials.

What I’m saying here, is ppsf isn’t everything. When comparing properties in the same area, the WHOLE PKG has to be looked at such as, “How long will it take these stick trees to reach 40 feet high and shade this patio?” ETC . . .

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