Stonebridge Home – why such a low price?

[sunny88]

[quote=ocrenter]check out some of the 2000 resales in Scripps:

12525 Birch Bluff
–4 beds, 3.5 baths, 3,795 sq ft
–Sold 08/14/2000: $980,000
–the lot size is big, but it is all slopes, there’s almost no room for the pool, it is extra narrow and needed to be constructed with a deck. good view.

12284 Semillon Blvd
–5 beds, 4.5 baths, 5,681 sq ft
–Sold 05/19/2000: $1,050,000
–lot is twice the size as the Edgewood home in question. but mostly all trees.

10982 Twinleaf Ct
–5 beds, 4.5 baths, 4,647 sq ft
–Sold 05/25/2000: $1,250,000
–small lot, but on one corner of the yard you see Miramar lake. back in 2000 this area was a lot more established than homes south of Pomerado and commanded a higher price. areas south of Pomerado have caught up.

10699 Weatherhill Ct
–3 beds, 4.0 baths, 3,638 sq ft
–Sold 09/26/2000: $934,000
–backs up to noisy Scripps Ranch Blvd, but does get that lake view.

11238 Spencerport Way
–5 beds, 4.5 baths, 4,041 sq ft
–Sold 04/28/2000: $900,000
–no views, surrounded by 4 neighbors, small lot, barely enough room for a small strip of pool.

A home of Edgewood’s caliber is about $1 million circa 2000. we are not quite there yet, but getting quite close.[/quote]

Just curious, why do you think we should use the prices from 2000 as a reference? Also, the comps you mentioned are no in “Stonebridge”, don’t you think that Stonebridge homes should be valued differently (possibly lower) due to more inconvenient location, higher number of distressed properties and higher MR?

[ocrenter]

Stonebridge is not any more inconvenient as some of the homes south of Pomerado. plus it is Poway USD and you don’t run into the problem of SDUSD busing into Scripps Ranch High.

higher number of distressed properties just means you’ll be more likely to meet that 2000 pricing compared to established neighborhoods that will fight until the very end. The MR is $5000 in general, which breaks down to a little over $400/month. most folks that are looking at million dollar properties can handle that.

the big issue is establishment. what is interesting is comparison of the Twinleaf property vs a couple of south of Pomerado properties back in 2000. Back then south of Pomerado was just establishing, there was a higher premium for the Twinleaf as it was “Scripps Ranch proper,” you can see that within 10 years that premium is completely gone. expect Stonebridge to be the same.

[ocrenter]

Stonebridge is not any more inconvenient as some of the homes south of Pomerado. plus it is Poway USD and you don’t run into the problem of SDUSD busing into Scripps Ranch High.

higher number of distressed properties just means you’ll be more likely to meet that 2000 pricing compared to established neighborhoods that will fight until the very end. The MR is $5000 in general, which breaks down to a little over $400/month. most folks that are looking at million dollar properties can handle that.

the big issue is establishment. what is interesting is comparison of the Twinleaf property vs a couple of south of Pomerado properties back in 2000. Back then south of Pomerado was just establishing, there was a higher premium for the Twinleaf as it was “Scripps Ranch proper,” you can see that within 10 years that premium is completely gone. expect Stonebridge to be the same.

[ocrenter]

Stonebridge is not any more inconvenient as some of the homes south of Pomerado. plus it is Poway USD and you don’t run into the problem of SDUSD busing into Scripps Ranch High.

higher number of distressed properties just means you’ll be more likely to meet that 2000 pricing compared to established neighborhoods that will fight until the very end. The MR is $5000 in general, which breaks down to a little over $400/month. most folks that are looking at million dollar properties can handle that.

the big issue is establishment. what is interesting is comparison of the Twinleaf property vs a couple of south of Pomerado properties back in 2000. Back then south of Pomerado was just establishing, there was a higher premium for the Twinleaf as it was “Scripps Ranch proper,” you can see that within 10 years that premium is completely gone. expect Stonebridge to be the same.

[ocrenter]

Stonebridge is not any more inconvenient as some of the homes south of Pomerado. plus it is Poway USD and you don’t run into the problem of SDUSD busing into Scripps Ranch High.

higher number of distressed properties just means you’ll be more likely to meet that 2000 pricing compared to established neighborhoods that will fight until the very end. The MR is $5000 in general, which breaks down to a little over $400/month. most folks that are looking at million dollar properties can handle that.

the big issue is establishment. what is interesting is comparison of the Twinleaf property vs a couple of south of Pomerado properties back in 2000. Back then south of Pomerado was just establishing, there was a higher premium for the Twinleaf as it was “Scripps Ranch proper,” you can see that within 10 years that premium is completely gone. expect Stonebridge to be the same.

[ocrenter]

Stonebridge is not any more inconvenient as some of the homes south of Pomerado. plus it is Poway USD and you don’t run into the problem of SDUSD busing into Scripps Ranch High.

higher number of distressed properties just means you’ll be more likely to meet that 2000 pricing compared to established neighborhoods that will fight until the very end. The MR is $5000 in general, which breaks down to a little over $400/month. most folks that are looking at million dollar properties can handle that.

the big issue is establishment. what is interesting is comparison of the Twinleaf property vs a couple of south of Pomerado properties back in 2000. Back then south of Pomerado was just establishing, there was a higher premium for the Twinleaf as it was “Scripps Ranch proper,” you can see that within 10 years that premium is completely gone. expect Stonebridge to be the same.

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