Some questions about Stonebridge

[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]

AN, I just perused your Poway recent sales.

Your Orchard Gate listing is a coveted one-story which is very well designed with VERY expensive materials. It’s in the “Green Valley” Assn. ($300 yr HOA). Your Wildflower listing has at least $150K spent on the backyard alone and is also well-designed (although not at striking as Orchard Gate).

My Orchard Bend active ALREADY EXISTED (by itself) prior to the inception of the Green Valley Assn and surrounds. It is a gut/remodel of an existing house (farmhouse/50’s or ’60’s ranch . . . we don’t know). The listing agent used the 1990 date (when the new square footage was reported to the assessor) as the “build date.” This is actually incorrect. Even if it was remodeled from the studs (or only utility meters remained) at the time of re-build, the listing agent should have used the original build date in the listing.

IMO, this is the difference between the asking prices you were wondering about.

[bearishgurl]

AN, I just perused your Poway recent sales.

Your Orchard Gate listing is a coveted one-story which is very well designed with VERY expensive materials. It’s in the “Green Valley” Assn. ($300 yr HOA). Your Wildflower listing has at least $150K spent on the backyard alone and is also well-designed (although not at striking as Orchard Gate).

My Orchard Bend active ALREADY EXISTED (by itself) prior to the inception of the Green Valley Assn and surrounds. It is a gut/remodel of an existing house (farmhouse/50’s or ’60’s ranch . . . we don’t know). The listing agent used the 1990 date (when the new square footage was reported to the assessor) as the “build date.” This is actually incorrect. Even if it was remodeled from the studs (or only utility meters remained) at the time of re-build, the listing agent should have used the original build date in the listing.

IMO, this is the difference between the asking prices you were wondering about.

[bearishgurl]

AN, I just perused your Poway recent sales.

Your Orchard Gate listing is a coveted one-story which is very well designed with VERY expensive materials. It’s in the “Green Valley” Assn. ($300 yr HOA). Your Wildflower listing has at least $150K spent on the backyard alone and is also well-designed (although not at striking as Orchard Gate).

My Orchard Bend active ALREADY EXISTED (by itself) prior to the inception of the Green Valley Assn and surrounds. It is a gut/remodel of an existing house (farmhouse/50’s or ’60’s ranch . . . we don’t know). The listing agent used the 1990 date (when the new square footage was reported to the assessor) as the “build date.” This is actually incorrect. Even if it was remodeled from the studs (or only utility meters remained) at the time of re-build, the listing agent should have used the original build date in the listing.

IMO, this is the difference between the asking prices you were wondering about.

[bearishgurl]

AN, I just perused your Poway recent sales.

Your Orchard Gate listing is a coveted one-story which is very well designed with VERY expensive materials. It’s in the “Green Valley” Assn. ($300 yr HOA). Your Wildflower listing has at least $150K spent on the backyard alone and is also well-designed (although not at striking as Orchard Gate).

My Orchard Bend active ALREADY EXISTED (by itself) prior to the inception of the Green Valley Assn and surrounds. It is a gut/remodel of an existing house (farmhouse/50’s or ’60’s ranch . . . we don’t know). The listing agent used the 1990 date (when the new square footage was reported to the assessor) as the “build date.” This is actually incorrect. Even if it was remodeled from the studs (or only utility meters remained) at the time of re-build, the listing agent should have used the original build date in the listing.

IMO, this is the difference between the asking prices you were wondering about.

[bearishgurl]

AN, I just perused your Poway recent sales.

Your Orchard Gate listing is a coveted one-story which is very well designed with VERY expensive materials. It’s in the “Green Valley” Assn. ($300 yr HOA). Your Wildflower listing has at least $150K spent on the backyard alone and is also well-designed (although not at striking as Orchard Gate).

My Orchard Bend active ALREADY EXISTED (by itself) prior to the inception of the Green Valley Assn and surrounds. It is a gut/remodel of an existing house (farmhouse/50’s or ’60’s ranch . . . we don’t know). The listing agent used the 1990 date (when the new square footage was reported to the assessor) as the “build date.” This is actually incorrect. Even if it was remodeled from the studs (or only utility meters remained) at the time of re-build, the listing agent should have used the original build date in the listing.

IMO, this is the difference between the asking prices you were wondering about.

[an]

bearishgurl, I guess you’ve never remodel a kitchen before. After doing mine, I can tell you for that size kitchen, depending on the appliances and cabinet and flooring, it can easily be $50k+. The RB house in in even worse shape. I would think it would take at least $100k to upgrade the kitchen, bathrooms, and flooring of that house to get to the same quality as the Shadetree house.

Whether $361k-$516k will fix the problem is irrelavent. My point is that people like to pay for move in ready home and they’ll pay a premium for it. New homes are move in ready. You can’t really compare the two. I know that in term of value, buying an old fixer will give you bigger bang for your buck. But that doesn’t change what people want and what people are willing to pay a premium for.

BTW, I never mentioned ppsf. You seem to tell me to compare the whole package, yet you failed to do the same yourself. Whether you’d buy in Stonebridge doesn’t matter. It’s what the buyers who would that matter and what price they’re willing to pay. What you put as premium might not be what the buyers of these price range would put as a premium, and vice versa. How much of a premium do you put on that view for the Shadetree house?

[an]

bearishgurl, I guess you’ve never remodel a kitchen before. After doing mine, I can tell you for that size kitchen, depending on the appliances and cabinet and flooring, it can easily be $50k+. The RB house in in even worse shape. I would think it would take at least $100k to upgrade the kitchen, bathrooms, and flooring of that house to get to the same quality as the Shadetree house.

Whether $361k-$516k will fix the problem is irrelavent. My point is that people like to pay for move in ready home and they’ll pay a premium for it. New homes are move in ready. You can’t really compare the two. I know that in term of value, buying an old fixer will give you bigger bang for your buck. But that doesn’t change what people want and what people are willing to pay a premium for.

BTW, I never mentioned ppsf. You seem to tell me to compare the whole package, yet you failed to do the same yourself. Whether you’d buy in Stonebridge doesn’t matter. It’s what the buyers who would that matter and what price they’re willing to pay. What you put as premium might not be what the buyers of these price range would put as a premium, and vice versa. How much of a premium do you put on that view for the Shadetree house?

[an]

bearishgurl, I guess you’ve never remodel a kitchen before. After doing mine, I can tell you for that size kitchen, depending on the appliances and cabinet and flooring, it can easily be $50k+. The RB house in in even worse shape. I would think it would take at least $100k to upgrade the kitchen, bathrooms, and flooring of that house to get to the same quality as the Shadetree house.

Whether $361k-$516k will fix the problem is irrelavent. My point is that people like to pay for move in ready home and they’ll pay a premium for it. New homes are move in ready. You can’t really compare the two. I know that in term of value, buying an old fixer will give you bigger bang for your buck. But that doesn’t change what people want and what people are willing to pay a premium for.

BTW, I never mentioned ppsf. You seem to tell me to compare the whole package, yet you failed to do the same yourself. Whether you’d buy in Stonebridge doesn’t matter. It’s what the buyers who would that matter and what price they’re willing to pay. What you put as premium might not be what the buyers of these price range would put as a premium, and vice versa. How much of a premium do you put on that view for the Shadetree house?

[an]

bearishgurl, I guess you’ve never remodel a kitchen before. After doing mine, I can tell you for that size kitchen, depending on the appliances and cabinet and flooring, it can easily be $50k+. The RB house in in even worse shape. I would think it would take at least $100k to upgrade the kitchen, bathrooms, and flooring of that house to get to the same quality as the Shadetree house.

Whether $361k-$516k will fix the problem is irrelavent. My point is that people like to pay for move in ready home and they’ll pay a premium for it. New homes are move in ready. You can’t really compare the two. I know that in term of value, buying an old fixer will give you bigger bang for your buck. But that doesn’t change what people want and what people are willing to pay a premium for.

BTW, I never mentioned ppsf. You seem to tell me to compare the whole package, yet you failed to do the same yourself. Whether you’d buy in Stonebridge doesn’t matter. It’s what the buyers who would that matter and what price they’re willing to pay. What you put as premium might not be what the buyers of these price range would put as a premium, and vice versa. How much of a premium do you put on that view for the Shadetree house?

[an]

bearishgurl, I guess you’ve never remodel a kitchen before. After doing mine, I can tell you for that size kitchen, depending on the appliances and cabinet and flooring, it can easily be $50k+. The RB house in in even worse shape. I would think it would take at least $100k to upgrade the kitchen, bathrooms, and flooring of that house to get to the same quality as the Shadetree house.

Whether $361k-$516k will fix the problem is irrelavent. My point is that people like to pay for move in ready home and they’ll pay a premium for it. New homes are move in ready. You can’t really compare the two. I know that in term of value, buying an old fixer will give you bigger bang for your buck. But that doesn’t change what people want and what people are willing to pay a premium for.

BTW, I never mentioned ppsf. You seem to tell me to compare the whole package, yet you failed to do the same yourself. Whether you’d buy in Stonebridge doesn’t matter. It’s what the buyers who would that matter and what price they’re willing to pay. What you put as premium might not be what the buyers of these price range would put as a premium, and vice versa. How much of a premium do you put on that view for the Shadetree house?

[localguy]

As someone stated before, people have many different reasons for choosing one location over another. To get back on topic…. if you are choosing to purchase in Stonebridge, or any area for that matter, you need to do your due diligence. They are a few good deals to be had out here. And there are also some seriously overpriced homes as well. Speaking with a few recent buyers at a weekend BBQ, I was suprised to hear what they paid….$900,000+ for ho hum locations and a basic McMansion. Each to his own though. Most recent buyers that I have spoken to were really set on Stonebridge for their own reasons.
Localguy

[localguy]

As someone stated before, people have many different reasons for choosing one location over another. To get back on topic…. if you are choosing to purchase in Stonebridge, or any area for that matter, you need to do your due diligence. They are a few good deals to be had out here. And there are also some seriously overpriced homes as well. Speaking with a few recent buyers at a weekend BBQ, I was suprised to hear what they paid….$900,000+ for ho hum locations and a basic McMansion. Each to his own though. Most recent buyers that I have spoken to were really set on Stonebridge for their own reasons.
Localguy

[localguy]

As someone stated before, people have many different reasons for choosing one location over another. To get back on topic…. if you are choosing to purchase in Stonebridge, or any area for that matter, you need to do your due diligence. They are a few good deals to be had out here. And there are also some seriously overpriced homes as well. Speaking with a few recent buyers at a weekend BBQ, I was suprised to hear what they paid….$900,000+ for ho hum locations and a basic McMansion. Each to his own though. Most recent buyers that I have spoken to were really set on Stonebridge for their own reasons.
Localguy

[localguy]

As someone stated before, people have many different reasons for choosing one location over another. To get back on topic…. if you are choosing to purchase in Stonebridge, or any area for that matter, you need to do your due diligence. They are a few good deals to be had out here. And there are also some seriously overpriced homes as well. Speaking with a few recent buyers at a weekend BBQ, I was suprised to hear what they paid….$900,000+ for ho hum locations and a basic McMansion. Each to his own though. Most recent buyers that I have spoken to were really set on Stonebridge for their own reasons.
Localguy

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