Things OK in 92024

[sdrealtor]

sdcellar,
Do you know the area? Do you know the schools? Do you know what the floorplan is? Do you know the fees associated with this home? Do you know what is around this home? I never said it was a spectacular home. What it has in my view, is a very nice combination of attributes for a home in its class.

It’s kinda hard to evaluate a property from space, ya know?

[sdcellar]

sdrealtor–
A little. A little. No. No. Yes.

You’re the one who said it was a superior property, but now you’re backing off. Perhaps by superior, you just meant better than the also middle of the road house down the street. Nice clean modest house maybe, but clearly it ain’t superior.

I’d like to let you off the hook and chalk it up to semantics, but you know folks have been suggesting that “superior” (specifically) homes may be more immune to price drops.

Hey, if I was really interested in a 1970’s home that certainly seems close to a busy street and some not insignificant power lines, I’d drive through the area, learn about the exact schools my children would attend, walk through the home, get the fees (super easy), and check out the immediate area a little more closely, but I’m not.

I suggested the guy who bought it was poorly represented. What do you think?

And I’m the one who copped to the space view in the first place and I’d counter that it’s pretty amazing how much I can do from right where I’m sitting now. I can certainly do as much evaluation as I need to for the houses I *know* I’m not interested in.

[sdcellar]

sdrealtor–
A little. A little. No. No. Yes.

You’re the one who said it was a superior property, but now you’re backing off. Perhaps by superior, you just meant better than the also middle of the road house down the street. Nice clean modest house maybe, but clearly it ain’t superior.

I’d like to let you off the hook and chalk it up to semantics, but you know folks have been suggesting that “superior” (specifically) homes may be more immune to price drops.

Hey, if I was really interested in a 1970’s home that certainly seems close to a busy street and some not insignificant power lines, I’d drive through the area, learn about the exact schools my children would attend, walk through the home, get the fees (super easy), and check out the immediate area a little more closely, but I’m not.

I suggested the guy who bought it was poorly represented. What do you think?

And I’m the one who copped to the space view in the first place and I’d counter that it’s pretty amazing how much I can do from right where I’m sitting now. I can certainly do as much evaluation as I need to for the houses I *know* I’m not interested in.

[sdrealtor]

sdc, I am not backing off one bit. Superior is relative not absolute. In this case, the home in question is superior to the typical home in the area for a number of reasons. For those reasons, it sold quicker than most and for a higher price. Home like that will fare better. I dont beleive there is any question.

I have never said superior homes are immune to price drops and Id like to know one person who did. What has been said is that superior properties will fare better in the face of price drops. If you need an example this home is a good one.

BTW it is a good block away from the utlity easement. I have several years of experience selling RE and understand buyers sentiment toward very well. I personally hate power lines esthetically. I dont believe in the harmful effects many ascribe to and consider it just plain ugly.

If they were so dangerous wouldnt every lineman who works on them daily be dead in 6 months to a year?

I have never sold anything close to them. I would not consider this close and would buy this home myself if it was what I was looking for.

[sdrealtor]

sdc, I am not backing off one bit. Superior is relative not absolute. In this case, the home in question is superior to the typical home in the area for a number of reasons. For those reasons, it sold quicker than most and for a higher price. Home like that will fare better. I dont beleive there is any question.

I have never said superior homes are immune to price drops and Id like to know one person who did. What has been said is that superior properties will fare better in the face of price drops. If you need an example this home is a good one.

BTW it is a good block away from the utlity easement. I have several years of experience selling RE and understand buyers sentiment toward very well. I personally hate power lines esthetically. I dont believe in the harmful effects many ascribe to and consider it just plain ugly.

If they were so dangerous wouldnt every lineman who works on them daily be dead in 6 months to a year?

I have never sold anything close to them. I would not consider this close and would buy this home myself if it was what I was looking for.

[sdcellar]

I never said that you stated anything about superior properties, just that they’ve been discussed repeatedly.

That said, you acknowledge that and the sentiment you describe is actually much more in line with what’s been discussed than what I stated (fare better vs. more immune).

Beyond that, we clearly have differences of opinion with regard to what a superior property is. And that’s okay, I can see what you mean and I understand what I mean. For me, I’m not thinking superior properties at each price level, rather I’m thinking houses that stand out among most homes in general. Being one of the nicest houses in a given area doesn’t make it superior. Again, this is just how I think of “superior” (vs. best in class or somesuch).

I think it’s pretty well understood that the cleanest properties of a given type will fare the best and that’s in any market, right?

That said, what got better about this house, area, schools, etc. in less than a year’s time. I stand by my statement that the buyer was poorly represented. That is, it’s nothing special and he paid more than he had to. Just that simple. Now, maybe it was improved in some way, but nobody so far as chimed in with anything on that.

As far as the powerlines are concerned, I think we agree almost exactly as to why you and I don’t like them. Maybe I’m foolish, but it’s mostly esthetics for me as well.

On this house, the lines on that easement look large and I’m (only) guessing that I can still see them pretty well from this house. I don’t like that and since I don’t, I’ll bet I can get just as nice a place where I don’t have to look at them.

I’m positve it’s not as bad as this, but consider Carmel Valley around E. Ocean Aire. It looks like the entire power grid for Southern California is in the middle of that and you can see it from almost everywhere. To me (and maybe just me), that hurts the value of pretty much every home in that area.

[sdcellar]

I never said that you stated anything about superior properties, just that they’ve been discussed repeatedly.

That said, you acknowledge that and the sentiment you describe is actually much more in line with what’s been discussed than what I stated (fare better vs. more immune).

Beyond that, we clearly have differences of opinion with regard to what a superior property is. And that’s okay, I can see what you mean and I understand what I mean. For me, I’m not thinking superior properties at each price level, rather I’m thinking houses that stand out among most homes in general. Being one of the nicest houses in a given area doesn’t make it superior. Again, this is just how I think of “superior” (vs. best in class or somesuch).

I think it’s pretty well understood that the cleanest properties of a given type will fare the best and that’s in any market, right?

That said, what got better about this house, area, schools, etc. in less than a year’s time. I stand by my statement that the buyer was poorly represented. That is, it’s nothing special and he paid more than he had to. Just that simple. Now, maybe it was improved in some way, but nobody so far as chimed in with anything on that.

As far as the powerlines are concerned, I think we agree almost exactly as to why you and I don’t like them. Maybe I’m foolish, but it’s mostly esthetics for me as well.

On this house, the lines on that easement look large and I’m (only) guessing that I can still see them pretty well from this house. I don’t like that and since I don’t, I’ll bet I can get just as nice a place where I don’t have to look at them.

I’m positve it’s not as bad as this, but consider Carmel Valley around E. Ocean Aire. It looks like the entire power grid for Southern California is in the middle of that and you can see it from almost everywhere. To me (and maybe just me), that hurts the value of pretty much every home in that area.

[sdrealtor]

To answer your question “That said, what got better about this house, area, schools, etc. in less than a year’s time.”

What got better is the market and buyer sentiment.

When the house sold in 2006 there were 282 homes on the market in 92024 and not much was selling. It was the end of the Summer and the sellers jumped at an offer near the bottom of the the range they set after 21 days.

When the house sold in 2007 there were 164 homes on the market (a 42% reduction in the inventory). Homes were selling better and it was the beginning of Spring. The buyers got the house 20,000 below the low end of the asking range as it had been overpriced on the current market for 2 months.

BTW, that area has lots of mature trees and I wouldnt be surprised if thye werent visible from this property. I’ll check it out when i grab my slurpee at 7-11.

Also last year buyers in this area were frozen more than my slurpee with be.

[sdrealtor]

To answer your question “That said, what got better about this house, area, schools, etc. in less than a year’s time.”

What got better is the market and buyer sentiment.

When the house sold in 2006 there were 282 homes on the market in 92024 and not much was selling. It was the end of the Summer and the sellers jumped at an offer near the bottom of the the range they set after 21 days.

When the house sold in 2007 there were 164 homes on the market (a 42% reduction in the inventory). Homes were selling better and it was the beginning of Spring. The buyers got the house 20,000 below the low end of the asking range as it had been overpriced on the current market for 2 months.

BTW, that area has lots of mature trees and I wouldnt be surprised if thye werent visible from this property. I’ll check it out when i grab my slurpee at 7-11.

Also last year buyers in this area were frozen more than my slurpee with be.

[sdcellar]

20 grand below the low end of a range means almost nothing. Houses are mispriced all the time. You admit this one was, but I *guess* you think it was only off by about 2%.

I hear what you’re saying about the specific market timeframes, but you also mentioned in this same thread that there were plenty of examples to counter this one. You would have let me buy it?

I mean, I know these 70’s era places are pretty rare, but couldn’t I find anything better/cheaper even out of the reduced inventory of 164 homes in the area? I know your job isn’t to help your buyers exercise even a modicum of patience, but to guide them to buy this during what is (very likely) a fairly contained mini-rally? Again, you can’t stop anybody, but you could help them find something better.

Reading this, I realize that last bit is a little harsh and I am certain you know 92024 orders of magnitude better than I do, so maybe that is the best someone could do if they just have to buy now…

[sdcellar]

20 grand below the low end of a range means almost nothing. Houses are mispriced all the time. You admit this one was, but I *guess* you think it was only off by about 2%.

I hear what you’re saying about the specific market timeframes, but you also mentioned in this same thread that there were plenty of examples to counter this one. You would have let me buy it?

I mean, I know these 70’s era places are pretty rare, but couldn’t I find anything better/cheaper even out of the reduced inventory of 164 homes in the area? I know your job isn’t to help your buyers exercise even a modicum of patience, but to guide them to buy this during what is (very likely) a fairly contained mini-rally? Again, you can’t stop anybody, but you could help them find something better.

Reading this, I realize that last bit is a little harsh and I am certain you know 92024 orders of magnitude better than I do, so maybe that is the best someone could do if they just have to buy now…

[Anonymous]

Here’s another former Encinitan who might think a meltdown is in process:

1156 Wild Canary Lane, 92024 (Olivenhain)
Purchased in 4/06 for $1.65M (100% financing)

Now on Countrywide’s REO site listed for $1,067,900

35% drop? wow

[Anonymous]

Here’s another former Encinitan who might think a meltdown is in process:

1156 Wild Canary Lane, 92024 (Olivenhain)
Purchased in 4/06 for $1.65M (100% financing)

Now on Countrywide’s REO site listed for $1,067,900

35% drop? wow

[sdcellar]

sdr– You know, I spent some more time “looking” at Encinitas and I think I do, indeed, have a lot to learn. This place seems very typical of a significant portion of Encinitas and I can see how it might be better in some ways and worse in a few others. For all I know, maybe the 2006 buyer got a really good price (for the market) and the 2007 buy was still good, maybe just not as good.

Although, I still question any home that sold for more this year than last, I don’t care where it is in the county.

I have a lot more to learn if I start to think I’m really interested in living up there. Thankfully for me, I’ve got plenty of time…

[sdcellar]

sdr– You know, I spent some more time “looking” at Encinitas and I think I do, indeed, have a lot to learn. This place seems very typical of a significant portion of Encinitas and I can see how it might be better in some ways and worse in a few others. For all I know, maybe the 2006 buyer got a really good price (for the market) and the 2007 buy was still good, maybe just not as good.

Although, I still question any home that sold for more this year than last, I don’t care where it is in the county.

I have a lot more to learn if I start to think I’m really interested in living up there. Thankfully for me, I’ve got plenty of time…

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