The Mighty Carmel Valley. Cracks showing

[Coronita]

Show me a 3/2 2100sqft SFH in carmel valley that is livable (not a torn down shack or gutted) around $400k, and I’ll show you several couples that could snatch it up with a loan, even as an investment home, whom in theory could pay cash for it. I thought several posted about how rent here for something like 2100 sqft is close to $3k/month. At $400k price, I think this would float pretty positively, wouldn’t it?

Most 2/2 attached condos don’t even sell for that price in CV right now. And yes, there are some 2/2’s attached moving right now around that price (I don’t know why personally)

Yes, loans are difficult to get now probably, but not *that* difficult (yet).

[SD Realtor]

FLU the post was poorly presented.

The original mortgage amount is 382k, that is not the sales price.

Sorry I didn’t post to straighten things out earlier but it seemed obvious.

The home is pending at 848k… a bit above 400k it seems. I can with 100% confidence say this home will never ever sell for 400k. I don’t mean to be pedantic, just realistic.

It was on the market for 13 days.

[SD Realtor]

FLU the post was poorly presented.

The original mortgage amount is 382k, that is not the sales price.

Sorry I didn’t post to straighten things out earlier but it seemed obvious.

The home is pending at 848k… a bit above 400k it seems. I can with 100% confidence say this home will never ever sell for 400k. I don’t mean to be pedantic, just realistic.

It was on the market for 13 days.

[SD Realtor]

FLU the post was poorly presented.

The original mortgage amount is 382k, that is not the sales price.

Sorry I didn’t post to straighten things out earlier but it seemed obvious.

The home is pending at 848k… a bit above 400k it seems. I can with 100% confidence say this home will never ever sell for 400k. I don’t mean to be pedantic, just realistic.

It was on the market for 13 days.

[SD Realtor]

FLU the post was poorly presented.

The original mortgage amount is 382k, that is not the sales price.

Sorry I didn’t post to straighten things out earlier but it seemed obvious.

The home is pending at 848k… a bit above 400k it seems. I can with 100% confidence say this home will never ever sell for 400k. I don’t mean to be pedantic, just realistic.

It was on the market for 13 days.

[SD Realtor]

FLU the post was poorly presented.

The original mortgage amount is 382k, that is not the sales price.

Sorry I didn’t post to straighten things out earlier but it seemed obvious.

The home is pending at 848k… a bit above 400k it seems. I can with 100% confidence say this home will never ever sell for 400k. I don’t mean to be pedantic, just realistic.

It was on the market for 13 days.

[Coronita]

[quote]FLU the post was poorly presented.

The original mortgage amount is 382k, that is not the sales price.

Sorry I didn’t post to straighten things out earlier but it seemed obvious.

The home is pending at 848k… a bit above 400k it seems. I can with 100% confidence say this home will never ever sell for 400k. I don’t mean to be pedantic, just realistic.

It was on the market for 13 days.
[/quote]

I thought that would be the case…I’m sure it were $400k, you would probably be one of people lining up too. I know I would.

But hmmmm. Now that you mention it went pending at $848k. I now have the opposite feeling. People still pay $850k for 2100sqft? Wow. That’s not a crack in carmel valley. That’s someone taking industrial strength concrete slabs and propping up support. We’re a long way from the bottom.

[Coronita]

[quote]FLU the post was poorly presented.

The original mortgage amount is 382k, that is not the sales price.

Sorry I didn’t post to straighten things out earlier but it seemed obvious.

The home is pending at 848k… a bit above 400k it seems. I can with 100% confidence say this home will never ever sell for 400k. I don’t mean to be pedantic, just realistic.

It was on the market for 13 days.
[/quote]

I thought that would be the case…I’m sure it were $400k, you would probably be one of people lining up too. I know I would.

But hmmmm. Now that you mention it went pending at $848k. I now have the opposite feeling. People still pay $850k for 2100sqft? Wow. That’s not a crack in carmel valley. That’s someone taking industrial strength concrete slabs and propping up support. We’re a long way from the bottom.

[Coronita]

[quote]FLU the post was poorly presented.

The original mortgage amount is 382k, that is not the sales price.

Sorry I didn’t post to straighten things out earlier but it seemed obvious.

The home is pending at 848k… a bit above 400k it seems. I can with 100% confidence say this home will never ever sell for 400k. I don’t mean to be pedantic, just realistic.

It was on the market for 13 days.
[/quote]

I thought that would be the case…I’m sure it were $400k, you would probably be one of people lining up too. I know I would.

But hmmmm. Now that you mention it went pending at $848k. I now have the opposite feeling. People still pay $850k for 2100sqft? Wow. That’s not a crack in carmel valley. That’s someone taking industrial strength concrete slabs and propping up support. We’re a long way from the bottom.

[Coronita]

[quote]FLU the post was poorly presented.

The original mortgage amount is 382k, that is not the sales price.

Sorry I didn’t post to straighten things out earlier but it seemed obvious.

The home is pending at 848k… a bit above 400k it seems. I can with 100% confidence say this home will never ever sell for 400k. I don’t mean to be pedantic, just realistic.

It was on the market for 13 days.
[/quote]

I thought that would be the case…I’m sure it were $400k, you would probably be one of people lining up too. I know I would.

But hmmmm. Now that you mention it went pending at $848k. I now have the opposite feeling. People still pay $850k for 2100sqft? Wow. That’s not a crack in carmel valley. That’s someone taking industrial strength concrete slabs and propping up support. We’re a long way from the bottom.

[Coronita]

[quote]FLU the post was poorly presented.

The original mortgage amount is 382k, that is not the sales price.

Sorry I didn’t post to straighten things out earlier but it seemed obvious.

The home is pending at 848k… a bit above 400k it seems. I can with 100% confidence say this home will never ever sell for 400k. I don’t mean to be pedantic, just realistic.

It was on the market for 13 days.
[/quote]

I thought that would be the case…I’m sure it were $400k, you would probably be one of people lining up too. I know I would.

But hmmmm. Now that you mention it went pending at $848k. I now have the opposite feeling. People still pay $850k for 2100sqft? Wow. That’s not a crack in carmel valley. That’s someone taking industrial strength concrete slabs and propping up support. We’re a long way from the bottom.

[temeculaguy]

You need to be careful to translate foreclosure info from realtytrac or any site. A Nod or a Not, has no relevence on what is owed or what it will sell for. The notice of default was for one loan, there may be more than one loan on a property. Recorded or recent sales on zillow for much more or much less than the market value also throws people off because in a repo if the bank took it back for the outsanding loan, that price shows up, doesn’t mean that a buyer paid that unusually high or low price.

Half the fence sitters on this site are looking at cv, I’m worried for you guys because that alone may keep it’s prices from falling similar percentages to everyone else.

[temeculaguy]

You need to be careful to translate foreclosure info from realtytrac or any site. A Nod or a Not, has no relevence on what is owed or what it will sell for. The notice of default was for one loan, there may be more than one loan on a property. Recorded or recent sales on zillow for much more or much less than the market value also throws people off because in a repo if the bank took it back for the outsanding loan, that price shows up, doesn’t mean that a buyer paid that unusually high or low price.

Half the fence sitters on this site are looking at cv, I’m worried for you guys because that alone may keep it’s prices from falling similar percentages to everyone else.

[temeculaguy]

You need to be careful to translate foreclosure info from realtytrac or any site. A Nod or a Not, has no relevence on what is owed or what it will sell for. The notice of default was for one loan, there may be more than one loan on a property. Recorded or recent sales on zillow for much more or much less than the market value also throws people off because in a repo if the bank took it back for the outsanding loan, that price shows up, doesn’t mean that a buyer paid that unusually high or low price.

Half the fence sitters on this site are looking at cv, I’m worried for you guys because that alone may keep it’s prices from falling similar percentages to everyone else.

[temeculaguy]

You need to be careful to translate foreclosure info from realtytrac or any site. A Nod or a Not, has no relevence on what is owed or what it will sell for. The notice of default was for one loan, there may be more than one loan on a property. Recorded or recent sales on zillow for much more or much less than the market value also throws people off because in a repo if the bank took it back for the outsanding loan, that price shows up, doesn’t mean that a buyer paid that unusually high or low price.

Half the fence sitters on this site are looking at cv, I’m worried for you guys because that alone may keep it’s prices from falling similar percentages to everyone else.

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