Stunning sale in scripps ranch

[newbiz]

I have been watching this pirticular home 11598 winding ridge dr, san diego, ca 92131 for the last couple months.

this is a floor plan I am very familiar with – 3400 sft on the top of the hill, with a decent view to the west, nice house, built in 2002, bought for 650k, has been on market for a lil over/under months asking for 1.15 MIL.

I was like, no way, they will never sell this in a million years. there are atleast 2 or three similar homes on the same street for 950k. they do not have the same view as this one.

This evening I notice that the sign in front of the house says sold. I check ziprealty, listing is not there any more.

I am shocked to realize that there are dumb people still buying houses at such outrageous prices. Or is it that I am the one who is dumb renting the exact same house for 3300 a month? Well the one I rent has a pool too and has 2 more bath rooms and is a little larger. Same exact view and location.

I guess i will be a renter for a long time, and I am trying to come to terms with it that I can never buy a house. Noy bcus I cannot afford to, but cus, why pay 2 or 3 times more than what it would cost to rent.

[SD Realtor]

I know Scripps all to well. You are not the dumb one, you are the smart one and the person who bought it is the dumb one. This home listed back in March for 1.229M and was on the market for 72 days and then expired. They relisted on May 20 at 1.148M and they got into escrow 9 days after that. We will see what they sold for when escrow closes.

They bought the home for 777,500. They financed 622k. Then they also took out 220k back in Feb of this year.

Don’t worry, you guys may end up buying a comparable for 300k less then what this guy paid for it if you can wait for a few years.

SD Realtor

[SD Realtor]

I know Scripps all to well. You are not the dumb one, you are the smart one and the person who bought it is the dumb one. This home listed back in March for 1.229M and was on the market for 72 days and then expired. They relisted on May 20 at 1.148M and they got into escrow 9 days after that. We will see what they sold for when escrow closes.

They bought the home for 777,500. They financed 622k. Then they also took out 220k back in Feb of this year.

Don’t worry, you guys may end up buying a comparable for 300k less then what this guy paid for it if you can wait for a few years.

SD Realtor

[bob2007]

Hello SDR,

Do you have a guess as to whether or not the following new scripps listing at 1.5M would go below 1M? This would be for it or a house with similar characteristics in the next couple of years. That is a nice area of scripps, and I was wondering about the high and low sale points. This is just a few blocks away from the original listing in this post. It seems overpriced by about 300k from the comps.

11343 BRECKENRIDGE WAY
San Diego, CA 92131
MLS #: 076045178

Thanks,

Bob

[bob2007]

Hello SDR,

Do you have a guess as to whether or not the following new scripps listing at 1.5M would go below 1M? This would be for it or a house with similar characteristics in the next couple of years. That is a nice area of scripps, and I was wondering about the high and low sale points. This is just a few blocks away from the original listing in this post. It seems overpriced by about 300k from the comps.

11343 BRECKENRIDGE WAY
San Diego, CA 92131
MLS #: 076045178

Thanks,

Bob

[drunkle]

on the other hand… paying 3k for rent isn’t the quickest way to save up to “afford” a buy…

[drunkle]

on the other hand… paying 3k for rent isn’t the quickest way to save up to “afford” a buy…

[SD Realtor]

Hi Bob –

Hope things are going well for ya… I don’t think I recall where you purchased but I thought it was here in Scripps wasn’t it? Anyways we are getting ready to run the kids to the beach so I can’t run a full analysis of this home. Yeah I think it could well below 1M in the next few years. It was purchased in 2001 for 750k so if things really fall apart then yeah it could get there or lower. I find it WAY hard to believe they will get anything close to what they are asking. The view is nice but misleading because they get MONSTER traffic noise from Scripps Ranch Blvd. You can see the tip of the traffic light at Overlook Park in the lower left hand side of the picture if you click on the pics to enlarge it. While that view is nice I would rather take the ocean view on the other side of that hill. The problem with the ocean view though is you have I15 noise on that side in many of those lots. Not all of them but many of them.

SD Realtor

[SD Realtor]

Hi Bob –

Hope things are going well for ya… I don’t think I recall where you purchased but I thought it was here in Scripps wasn’t it? Anyways we are getting ready to run the kids to the beach so I can’t run a full analysis of this home. Yeah I think it could well below 1M in the next few years. It was purchased in 2001 for 750k so if things really fall apart then yeah it could get there or lower. I find it WAY hard to believe they will get anything close to what they are asking. The view is nice but misleading because they get MONSTER traffic noise from Scripps Ranch Blvd. You can see the tip of the traffic light at Overlook Park in the lower left hand side of the picture if you click on the pics to enlarge it. While that view is nice I would rather take the ocean view on the other side of that hill. The problem with the ocean view though is you have I15 noise on that side in many of those lots. Not all of them but many of them.

SD Realtor

[what_a_disasta]

Thats true, but a 60k a year savings by renting over buying is quite a lot.

[what_a_disasta]

Thats true, but a 60k a year savings by renting over buying is quite a lot.

[SD Realtor]

Drunkle it is the price of admission for renting in Scripps. I live a few miles from that neighborhood, a much older subdivision east of that home in old scripps but have a large home on a large lot and am paying 2500 a month… You can find some lower priced places but not much if you want to rent a larger home with a larger lot.

SD Realtor

[SD Realtor]

Drunkle it is the price of admission for renting in Scripps. I live a few miles from that neighborhood, a much older subdivision east of that home in old scripps but have a large home on a large lot and am paying 2500 a month… You can find some lower priced places but not much if you want to rent a larger home with a larger lot.

SD Realtor

[bob2007]

Hi SDR,

Your opinion is in line with what I was thinking. I don’t want to take up any of your time with further analysis. Thanks for the reply. Great day for kids at the beach. I have a sick one at home today.

Bob

[bob2007]

Hi SDR,

Your opinion is in line with what I was thinking. I don’t want to take up any of your time with further analysis. Thanks for the reply. Great day for kids at the beach. I have a sick one at home today.

Bob

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