Something Ain’t Right in San Marcos

[bsrsharma]

100% financing will never disappear

There will always be Las Vegas!

[JES]

Same street in San Marcos, strange pricing strategy:

363 Edgewater

Price Increased: 08/22/2007 from $559,000 to $599,000
Price Reduced: 08/21/2007 from $629,000 to $559,000
Price Reduced: 08/10/2007 from $635,000-$675,000 to $629,000-$629,000

[JES]

Same street in San Marcos, strange pricing strategy:

363 Edgewater

Price Increased: 08/22/2007 from $559,000 to $599,000
Price Reduced: 08/21/2007 from $629,000 to $559,000
Price Reduced: 08/10/2007 from $635,000-$675,000 to $629,000-$629,000

[JES]

Same street in San Marcos, strange pricing strategy:

363 Edgewater

Price Increased: 08/22/2007 from $559,000 to $599,000
Price Reduced: 08/21/2007 from $629,000 to $559,000
Price Reduced: 08/10/2007 from $635,000-$675,000 to $629,000-$629,000

[Anonymous]

Hi,

We just saw a house on Edgewater, San Marcos (in Silver Crest).
The house looked very nice, but we are concerned about the future of the neighborhood given that the Sprinter tracks are passing almost behind it!
We are worried about the noise and the effect of it on the resale value of the house a few years from now.

Some say the train brings more business to the area and easy access to public transportation makes it more attractive… And some say it brings more traffic and more crime; and the noise from the train will definitely make it less attractive to prospect buyers.

What do you think? What happens to a neighborhood when a train passes by it 60+ times a day? Should we get serious on this house or just walk away?

Would appreciate your thoughts on this.

[Anonymous]

Hi,

We just saw a house on Edgewater, San Marcos (in Silver Crest).
The house looked very nice, but we are concerned about the future of the neighborhood given that the Sprinter tracks are passing almost behind it!
We are worried about the noise and the effect of it on the resale value of the house a few years from now.

Some say the train brings more business to the area and easy access to public transportation makes it more attractive… And some say it brings more traffic and more crime; and the noise from the train will definitely make it less attractive to prospect buyers.

What do you think? What happens to a neighborhood when a train passes by it 60+ times a day? Should we get serious on this house or just walk away?

Would appreciate your thoughts on this.

[Anonymous]

Hi,

We just saw a house on Edgewater, San Marcos (in Silver Crest).
The house looked very nice, but we are concerned about the future of the neighborhood given that the Sprinter tracks are passing almost behind it!
We are worried about the noise and the effect of it on the resale value of the house a few years from now.

Some say the train brings more business to the area and easy access to public transportation makes it more attractive… And some say it brings more traffic and more crime; and the noise from the train will definitely make it less attractive to prospect buyers.

What do you think? What happens to a neighborhood when a train passes by it 60+ times a day? Should we get serious on this house or just walk away?

Would appreciate your thoughts on this.

[Anonymous]

Hi,

We just saw a house on Edgewater, San Marcos (in Silver Crest).
The house looked very nice, but we are concerned about the future of the neighborhood given that the Sprinter tracks are passing almost behind it!
We are worried about the noise and the effect of it on the resale value of the house a few years from now.

Some say the train brings more business to the area and easy access to public transportation makes it more attractive… And some say it brings more traffic and more crime; and the noise from the train will definitely make it less attractive to prospect buyers.

What do you think? What happens to a neighborhood when a train passes by it 60+ times a day? Should we get serious on this house or just walk away?

Would appreciate your thoughts on this.

[Anonymous]

First, because the train is set to start running in a matter of weeks, I would advise you to wait until it is actually doing 30 trips a day. Listen to the noise, consider the safety issues that come along with living near tracks, and keep in mind that although there will be no horn at the intersection directly next to Silvercrest, I believe there will be one at Cal State, and it will likely be loud. Next, realize that in the event you have to sell, all potential buyers will have the same issues and questions about the train that you do. You can justify it in your own mind by saying that it isn’t a big deal, that the access to the train is a positive etc., but when you have to sell it will be a big deal. My proof – it has been for every single home that has sold in that neighborhood the past 3-4 years. Now, if in fact the train is super quite it could in fact be a positive, but you need to verify that by standing in the yard when that train flys by every 15 minutes. Third, realize that this neighborhood has been slammed by the downturn, perhaps harder than any other in North County. Look at the homes on Edgewater and see how many have gone into foreclosure, are in foreclosure, or sold with some kind of funny pricing like the one I illustrated above. They may be in the mid to high 500s now, but what is preventing them from falling further?

[Anonymous]

First, because the train is set to start running in a matter of weeks, I would advise you to wait until it is actually doing 30 trips a day. Listen to the noise, consider the safety issues that come along with living near tracks, and keep in mind that although there will be no horn at the intersection directly next to Silvercrest, I believe there will be one at Cal State, and it will likely be loud. Next, realize that in the event you have to sell, all potential buyers will have the same issues and questions about the train that you do. You can justify it in your own mind by saying that it isn’t a big deal, that the access to the train is a positive etc., but when you have to sell it will be a big deal. My proof – it has been for every single home that has sold in that neighborhood the past 3-4 years. Now, if in fact the train is super quite it could in fact be a positive, but you need to verify that by standing in the yard when that train flys by every 15 minutes. Third, realize that this neighborhood has been slammed by the downturn, perhaps harder than any other in North County. Look at the homes on Edgewater and see how many have gone into foreclosure, are in foreclosure, or sold with some kind of funny pricing like the one I illustrated above. They may be in the mid to high 500s now, but what is preventing them from falling further?

[Anonymous]

First, because the train is set to start running in a matter of weeks, I would advise you to wait until it is actually doing 30 trips a day. Listen to the noise, consider the safety issues that come along with living near tracks, and keep in mind that although there will be no horn at the intersection directly next to Silvercrest, I believe there will be one at Cal State, and it will likely be loud. Next, realize that in the event you have to sell, all potential buyers will have the same issues and questions about the train that you do. You can justify it in your own mind by saying that it isn’t a big deal, that the access to the train is a positive etc., but when you have to sell it will be a big deal. My proof – it has been for every single home that has sold in that neighborhood the past 3-4 years. Now, if in fact the train is super quite it could in fact be a positive, but you need to verify that by standing in the yard when that train flys by every 15 minutes. Third, realize that this neighborhood has been slammed by the downturn, perhaps harder than any other in North County. Look at the homes on Edgewater and see how many have gone into foreclosure, are in foreclosure, or sold with some kind of funny pricing like the one I illustrated above. They may be in the mid to high 500s now, but what is preventing them from falling further?

[Anonymous]

First, because the train is set to start running in a matter of weeks, I would advise you to wait until it is actually doing 30 trips a day. Listen to the noise, consider the safety issues that come along with living near tracks, and keep in mind that although there will be no horn at the intersection directly next to Silvercrest, I believe there will be one at Cal State, and it will likely be loud. Next, realize that in the event you have to sell, all potential buyers will have the same issues and questions about the train that you do. You can justify it in your own mind by saying that it isn’t a big deal, that the access to the train is a positive etc., but when you have to sell it will be a big deal. My proof – it has been for every single home that has sold in that neighborhood the past 3-4 years. Now, if in fact the train is super quite it could in fact be a positive, but you need to verify that by standing in the yard when that train flys by every 15 minutes. Third, realize that this neighborhood has been slammed by the downturn, perhaps harder than any other in North County. Look at the homes on Edgewater and see how many have gone into foreclosure, are in foreclosure, or sold with some kind of funny pricing like the one I illustrated above. They may be in the mid to high 500s now, but what is preventing them from falling further?

[ocrenter]

the price drop on these homes are pretty amazing.

362 Edgewater 3172 sqft sold for $710k back in 2/2007

now we have

617 Edgewater also at 3172 sqft asking for $599k as a reo.
693 Saddleback is a 3072 sqft model asking for $565 also as a reo.

but remember, the $710k was in all likelihood fake (as in cash back at closing and 100% financing). back in ’04 617 Edgewater was purchased for $540k.

because of the train issue as well as the quality of the neighbors, I would stay away from this neighborhood. maybe when it hits $400k I might consider getting it as an investment property.

[ocrenter]

the price drop on these homes are pretty amazing.

362 Edgewater 3172 sqft sold for $710k back in 2/2007

now we have

617 Edgewater also at 3172 sqft asking for $599k as a reo.
693 Saddleback is a 3072 sqft model asking for $565 also as a reo.

but remember, the $710k was in all likelihood fake (as in cash back at closing and 100% financing). back in ’04 617 Edgewater was purchased for $540k.

because of the train issue as well as the quality of the neighbors, I would stay away from this neighborhood. maybe when it hits $400k I might consider getting it as an investment property.

[ocrenter]

the price drop on these homes are pretty amazing.

362 Edgewater 3172 sqft sold for $710k back in 2/2007

now we have

617 Edgewater also at 3172 sqft asking for $599k as a reo.
693 Saddleback is a 3072 sqft model asking for $565 also as a reo.

but remember, the $710k was in all likelihood fake (as in cash back at closing and 100% financing). back in ’04 617 Edgewater was purchased for $540k.

because of the train issue as well as the quality of the neighbors, I would stay away from this neighborhood. maybe when it hits $400k I might consider getting it as an investment property.

[Author]

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