Some questions about Stonebridge

[recordsclerk]

Localguy,

My wife and I really like what all your neighbors have done with their landscaping. The whole Davidson neighborhood is fantastic. My wife likes the house with the with the big fish on the wall and the bamboo sticks in the large vase.

[permabear]

[quote=wanttobuy]What kind of price can we expect this fall/winter and next spring/summer? Serenity is selling and Montoro is selling fast. Many know these two have inferior quality and builder cut corners as much as they can, but with their aggressive pricing, some seems don’t care! Anybody has some insights regarding new and resales in hign end Stonebridge? How low can we see the price go?[/quote]

Who knows, but these are below replacement cost ($177/ft), which is insane. You can’t build for $177/ft, which means the home is discounted and the land is free:

http://www.redfin.com/CA/San-Diego/14719-Whispering-Ridge-Rd-92131/home/12153104
http://www.redfin.com/CA/San-Diego/14661-Old-Creek-Rd-92131/home/7515558

I think these are poster children for classic deflationary spiral thinking. I would guess buyers are figuring “heck they’re already $500k off, I bet they’ll go lower.”

Maybe, maybe not. I think the real question is: Do you want to live in the Stonebridge area for the forseeable future? On a 10 year timeframe, +/- $100k doesn’t matter that much. There will be another real estate bubble in the future (always is). If you can wait for it to sell, then you can buy at Stonebridge whenever you find the right home for your family, and sell in 20 years.

The thing people forget is that RE is a one-off deal. Trying to time it exactly is foolhardy. Each home is completely unique in its lot and geographical location. The odds of your perfect home in the perfect area on the perfect lot coming available at the very bottom of the market is nil.

[permabear]

[quote=wanttobuy]What kind of price can we expect this fall/winter and next spring/summer? Serenity is selling and Montoro is selling fast. Many know these two have inferior quality and builder cut corners as much as they can, but with their aggressive pricing, some seems don’t care! Anybody has some insights regarding new and resales in hign end Stonebridge? How low can we see the price go?[/quote]

Who knows, but these are below replacement cost ($177/ft), which is insane. You can’t build for $177/ft, which means the home is discounted and the land is free:

http://www.redfin.com/CA/San-Diego/14719-Whispering-Ridge-Rd-92131/home/12153104
http://www.redfin.com/CA/San-Diego/14661-Old-Creek-Rd-92131/home/7515558

I think these are poster children for classic deflationary spiral thinking. I would guess buyers are figuring “heck they’re already $500k off, I bet they’ll go lower.”

Maybe, maybe not. I think the real question is: Do you want to live in the Stonebridge area for the forseeable future? On a 10 year timeframe, +/- $100k doesn’t matter that much. There will be another real estate bubble in the future (always is). If you can wait for it to sell, then you can buy at Stonebridge whenever you find the right home for your family, and sell in 20 years.

The thing people forget is that RE is a one-off deal. Trying to time it exactly is foolhardy. Each home is completely unique in its lot and geographical location. The odds of your perfect home in the perfect area on the perfect lot coming available at the very bottom of the market is nil.

[permabear]

[quote=wanttobuy]What kind of price can we expect this fall/winter and next spring/summer? Serenity is selling and Montoro is selling fast. Many know these two have inferior quality and builder cut corners as much as they can, but with their aggressive pricing, some seems don’t care! Anybody has some insights regarding new and resales in hign end Stonebridge? How low can we see the price go?[/quote]

Who knows, but these are below replacement cost ($177/ft), which is insane. You can’t build for $177/ft, which means the home is discounted and the land is free:

http://www.redfin.com/CA/San-Diego/14719-Whispering-Ridge-Rd-92131/home/12153104
http://www.redfin.com/CA/San-Diego/14661-Old-Creek-Rd-92131/home/7515558

I think these are poster children for classic deflationary spiral thinking. I would guess buyers are figuring “heck they’re already $500k off, I bet they’ll go lower.”

Maybe, maybe not. I think the real question is: Do you want to live in the Stonebridge area for the forseeable future? On a 10 year timeframe, +/- $100k doesn’t matter that much. There will be another real estate bubble in the future (always is). If you can wait for it to sell, then you can buy at Stonebridge whenever you find the right home for your family, and sell in 20 years.

The thing people forget is that RE is a one-off deal. Trying to time it exactly is foolhardy. Each home is completely unique in its lot and geographical location. The odds of your perfect home in the perfect area on the perfect lot coming available at the very bottom of the market is nil.

[permabear]

[quote=wanttobuy]What kind of price can we expect this fall/winter and next spring/summer? Serenity is selling and Montoro is selling fast. Many know these two have inferior quality and builder cut corners as much as they can, but with their aggressive pricing, some seems don’t care! Anybody has some insights regarding new and resales in hign end Stonebridge? How low can we see the price go?[/quote]

Who knows, but these are below replacement cost ($177/ft), which is insane. You can’t build for $177/ft, which means the home is discounted and the land is free:

http://www.redfin.com/CA/San-Diego/14719-Whispering-Ridge-Rd-92131/home/12153104
http://www.redfin.com/CA/San-Diego/14661-Old-Creek-Rd-92131/home/7515558

I think these are poster children for classic deflationary spiral thinking. I would guess buyers are figuring “heck they’re already $500k off, I bet they’ll go lower.”

Maybe, maybe not. I think the real question is: Do you want to live in the Stonebridge area for the forseeable future? On a 10 year timeframe, +/- $100k doesn’t matter that much. There will be another real estate bubble in the future (always is). If you can wait for it to sell, then you can buy at Stonebridge whenever you find the right home for your family, and sell in 20 years.

The thing people forget is that RE is a one-off deal. Trying to time it exactly is foolhardy. Each home is completely unique in its lot and geographical location. The odds of your perfect home in the perfect area on the perfect lot coming available at the very bottom of the market is nil.

[permabear]

[quote=wanttobuy]What kind of price can we expect this fall/winter and next spring/summer? Serenity is selling and Montoro is selling fast. Many know these two have inferior quality and builder cut corners as much as they can, but with their aggressive pricing, some seems don’t care! Anybody has some insights regarding new and resales in hign end Stonebridge? How low can we see the price go?[/quote]

Who knows, but these are below replacement cost ($177/ft), which is insane. You can’t build for $177/ft, which means the home is discounted and the land is free:

http://www.redfin.com/CA/San-Diego/14719-Whispering-Ridge-Rd-92131/home/12153104
http://www.redfin.com/CA/San-Diego/14661-Old-Creek-Rd-92131/home/7515558

I think these are poster children for classic deflationary spiral thinking. I would guess buyers are figuring “heck they’re already $500k off, I bet they’ll go lower.”

Maybe, maybe not. I think the real question is: Do you want to live in the Stonebridge area for the forseeable future? On a 10 year timeframe, +/- $100k doesn’t matter that much. There will be another real estate bubble in the future (always is). If you can wait for it to sell, then you can buy at Stonebridge whenever you find the right home for your family, and sell in 20 years.

The thing people forget is that RE is a one-off deal. Trying to time it exactly is foolhardy. Each home is completely unique in its lot and geographical location. The odds of your perfect home in the perfect area on the perfect lot coming available at the very bottom of the market is nil.

[joec]

Both of the listings above are short sales so who knows what the price really is when the bank reviews/approves this.

[joec]

Both of the listings above are short sales so who knows what the price really is when the bank reviews/approves this.

[joec]

Both of the listings above are short sales so who knows what the price really is when the bank reviews/approves this.

[joec]

Both of the listings above are short sales so who knows what the price really is when the bank reviews/approves this.

[joec]

Both of the listings above are short sales so who knows what the price really is when the bank reviews/approves this.

[permabear]

Ok, try this listing directly from Brookfield.

“Price reduction! Never has a plan 1 sold this low! Western Sunset views on canyon rim next to open space!”

$213/ft

http://www.redfin.com/CA/San-Diego/11558-Carowind-Ln-92131/home/22417631

And these two just went pending after their price was dropped:

http://www.redfin.com/CA/San-Diego/LOT-261-Almond-Orchard-Ln-92131/home/28465800
http://www.redfin.com/CA/San-Diego/LOT-262-Almond-Orchard-Ln-92131/home/28564245

My point is, you could try holding out for even lower prices, but then again you could be missing out on a nice home trying to squeak out an extra $50k. Personally, if I needed a 4000 sq ft house, I would go in now with a solid 20% down offer and play hardball on price.

[permabear]

Ok, try this listing directly from Brookfield.

“Price reduction! Never has a plan 1 sold this low! Western Sunset views on canyon rim next to open space!”

$213/ft

http://www.redfin.com/CA/San-Diego/11558-Carowind-Ln-92131/home/22417631

And these two just went pending after their price was dropped:

http://www.redfin.com/CA/San-Diego/LOT-261-Almond-Orchard-Ln-92131/home/28465800
http://www.redfin.com/CA/San-Diego/LOT-262-Almond-Orchard-Ln-92131/home/28564245

My point is, you could try holding out for even lower prices, but then again you could be missing out on a nice home trying to squeak out an extra $50k. Personally, if I needed a 4000 sq ft house, I would go in now with a solid 20% down offer and play hardball on price.

[permabear]

Ok, try this listing directly from Brookfield.

“Price reduction! Never has a plan 1 sold this low! Western Sunset views on canyon rim next to open space!”

$213/ft

http://www.redfin.com/CA/San-Diego/11558-Carowind-Ln-92131/home/22417631

And these two just went pending after their price was dropped:

http://www.redfin.com/CA/San-Diego/LOT-261-Almond-Orchard-Ln-92131/home/28465800
http://www.redfin.com/CA/San-Diego/LOT-262-Almond-Orchard-Ln-92131/home/28564245

My point is, you could try holding out for even lower prices, but then again you could be missing out on a nice home trying to squeak out an extra $50k. Personally, if I needed a 4000 sq ft house, I would go in now with a solid 20% down offer and play hardball on price.

[permabear]

Ok, try this listing directly from Brookfield.

“Price reduction! Never has a plan 1 sold this low! Western Sunset views on canyon rim next to open space!”

$213/ft

http://www.redfin.com/CA/San-Diego/11558-Carowind-Ln-92131/home/22417631

And these two just went pending after their price was dropped:

http://www.redfin.com/CA/San-Diego/LOT-261-Almond-Orchard-Ln-92131/home/28465800
http://www.redfin.com/CA/San-Diego/LOT-262-Almond-Orchard-Ln-92131/home/28564245

My point is, you could try holding out for even lower prices, but then again you could be missing out on a nice home trying to squeak out an extra $50k. Personally, if I needed a 4000 sq ft house, I would go in now with a solid 20% down offer and play hardball on price.

[Author]

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