Upper MId to Lower High End Market in NCC

[pemeliza]

I agree with you CAR even though a couple of your examples are in the SM school district. If you have a million to spend and are buying at substantially greater than 2000-2001 pricing than either you are not looking hard enough or are after an exceptionally rare property. In my neck of the woods, Mission Hills, a REO just closed for 19% over the 1998 price. The catch is that the price was 950k which is out of reach for most buyers.

[zk]

[quote=pemeliza] If you have a million to spend and are buying at substantially greater than 2000-2001 pricing than either you are not looking hard enough or are after an exceptionally rare property. [/quote]

Or you’re looking in Carmel Valley.

[zk]

[quote=pemeliza] If you have a million to spend and are buying at substantially greater than 2000-2001 pricing than either you are not looking hard enough or are after an exceptionally rare property. [/quote]

Or you’re looking in Carmel Valley.

[zk]

[quote=pemeliza] If you have a million to spend and are buying at substantially greater than 2000-2001 pricing than either you are not looking hard enough or are after an exceptionally rare property. [/quote]

Or you’re looking in Carmel Valley.

[zk]

[quote=pemeliza] If you have a million to spend and are buying at substantially greater than 2000-2001 pricing than either you are not looking hard enough or are after an exceptionally rare property. [/quote]

Or you’re looking in Carmel Valley.

[zk]

[quote=pemeliza] If you have a million to spend and are buying at substantially greater than 2000-2001 pricing than either you are not looking hard enough or are after an exceptionally rare property. [/quote]

Or you’re looking in Carmel Valley.

[ocrenter]

[quote=deadzone]In “premium” areas of SD rent is still way less than Mortgage/HOA/Tax even with 4.5% rates.

I definitely agree that $200/sqft is getting near bottom for premium area, but we are nowhere near that today. Maybe we have different definition of premium (mine is coastal SD). Anything approaching $200/sq foot is a dump.[/quote]

My definition is definitely not limited to the coast. I think east Carlsbad, Santaluz, Crosby, Cielo, 4S’s Ivy Gate, SantaFe Valley near 4S, south of Pomerado in Scripps, larger homes in Stonebridge, and a large number of homes in gated communities in Poway, especially north Poway are all within the league of premium without having to be coastal.

A lot of these areas are very new, and therefore not well established. There are also a lot of distressed properties amongst them. Both of these factors can turn a lot of folks off. But that also means opportunities, dramatic bargains can be found. Of course, if one’s not careful, it is still very possible to overpay in these areas as well.

As for coastal premium. That’s another story. I think JTR and PowaySeller had a huge debate about that back in the days. I’m more in the camp that coastal premium is unlikely to see significant drop. Rather, it’ll just stagnate in pricing until the rest of the market catch up at the next upturn.

[ocrenter]

[quote=deadzone]In “premium” areas of SD rent is still way less than Mortgage/HOA/Tax even with 4.5% rates.

I definitely agree that $200/sqft is getting near bottom for premium area, but we are nowhere near that today. Maybe we have different definition of premium (mine is coastal SD). Anything approaching $200/sq foot is a dump.[/quote]

My definition is definitely not limited to the coast. I think east Carlsbad, Santaluz, Crosby, Cielo, 4S’s Ivy Gate, SantaFe Valley near 4S, south of Pomerado in Scripps, larger homes in Stonebridge, and a large number of homes in gated communities in Poway, especially north Poway are all within the league of premium without having to be coastal.

A lot of these areas are very new, and therefore not well established. There are also a lot of distressed properties amongst them. Both of these factors can turn a lot of folks off. But that also means opportunities, dramatic bargains can be found. Of course, if one’s not careful, it is still very possible to overpay in these areas as well.

As for coastal premium. That’s another story. I think JTR and PowaySeller had a huge debate about that back in the days. I’m more in the camp that coastal premium is unlikely to see significant drop. Rather, it’ll just stagnate in pricing until the rest of the market catch up at the next upturn.

[ocrenter]

[quote=deadzone]In “premium” areas of SD rent is still way less than Mortgage/HOA/Tax even with 4.5% rates.

I definitely agree that $200/sqft is getting near bottom for premium area, but we are nowhere near that today. Maybe we have different definition of premium (mine is coastal SD). Anything approaching $200/sq foot is a dump.[/quote]

My definition is definitely not limited to the coast. I think east Carlsbad, Santaluz, Crosby, Cielo, 4S’s Ivy Gate, SantaFe Valley near 4S, south of Pomerado in Scripps, larger homes in Stonebridge, and a large number of homes in gated communities in Poway, especially north Poway are all within the league of premium without having to be coastal.

A lot of these areas are very new, and therefore not well established. There are also a lot of distressed properties amongst them. Both of these factors can turn a lot of folks off. But that also means opportunities, dramatic bargains can be found. Of course, if one’s not careful, it is still very possible to overpay in these areas as well.

As for coastal premium. That’s another story. I think JTR and PowaySeller had a huge debate about that back in the days. I’m more in the camp that coastal premium is unlikely to see significant drop. Rather, it’ll just stagnate in pricing until the rest of the market catch up at the next upturn.

[ocrenter]

[quote=deadzone]In “premium” areas of SD rent is still way less than Mortgage/HOA/Tax even with 4.5% rates.

I definitely agree that $200/sqft is getting near bottom for premium area, but we are nowhere near that today. Maybe we have different definition of premium (mine is coastal SD). Anything approaching $200/sq foot is a dump.[/quote]

My definition is definitely not limited to the coast. I think east Carlsbad, Santaluz, Crosby, Cielo, 4S’s Ivy Gate, SantaFe Valley near 4S, south of Pomerado in Scripps, larger homes in Stonebridge, and a large number of homes in gated communities in Poway, especially north Poway are all within the league of premium without having to be coastal.

A lot of these areas are very new, and therefore not well established. There are also a lot of distressed properties amongst them. Both of these factors can turn a lot of folks off. But that also means opportunities, dramatic bargains can be found. Of course, if one’s not careful, it is still very possible to overpay in these areas as well.

As for coastal premium. That’s another story. I think JTR and PowaySeller had a huge debate about that back in the days. I’m more in the camp that coastal premium is unlikely to see significant drop. Rather, it’ll just stagnate in pricing until the rest of the market catch up at the next upturn.

[ocrenter]

[quote=deadzone]In “premium” areas of SD rent is still way less than Mortgage/HOA/Tax even with 4.5% rates.

I definitely agree that $200/sqft is getting near bottom for premium area, but we are nowhere near that today. Maybe we have different definition of premium (mine is coastal SD). Anything approaching $200/sq foot is a dump.[/quote]

My definition is definitely not limited to the coast. I think east Carlsbad, Santaluz, Crosby, Cielo, 4S’s Ivy Gate, SantaFe Valley near 4S, south of Pomerado in Scripps, larger homes in Stonebridge, and a large number of homes in gated communities in Poway, especially north Poway are all within the league of premium without having to be coastal.

A lot of these areas are very new, and therefore not well established. There are also a lot of distressed properties amongst them. Both of these factors can turn a lot of folks off. But that also means opportunities, dramatic bargains can be found. Of course, if one’s not careful, it is still very possible to overpay in these areas as well.

As for coastal premium. That’s another story. I think JTR and PowaySeller had a huge debate about that back in the days. I’m more in the camp that coastal premium is unlikely to see significant drop. Rather, it’ll just stagnate in pricing until the rest of the market catch up at the next upturn.

[sdrealtor]

DZ
Whether or not more high net worth individuals exist in the US, more of them exist in SD than 15 years ago. Alot of these folks arent extravagent spenders and were living in the same 1970’s/1980’s home they bought in the 90’s in NCC. A new class of homes oand communities started getting built in the late 90’s and it appealed to many of them who moved up. There are others who didnt but now see a good opportunity to do so. There is also an influx of these folks into the area that occurs regularly from outside of CA as well as the country. Some are inheriting money. Some are lifelong bachelors who finally settle down. Some hit it big with a business. Some finally get down decades of education, fellowships and residencies finally making partner and hitting it big.

You need to open your eyes to appreciate it. IT IS NOT ONE THING that you can put your finger on it is many things. It is life and there are people out there with more money than you. There always will be just like there will be those with less. Argue as you might the evidence overwhelms your feelings.

[sdrealtor]

DZ
Whether or not more high net worth individuals exist in the US, more of them exist in SD than 15 years ago. Alot of these folks arent extravagent spenders and were living in the same 1970’s/1980’s home they bought in the 90’s in NCC. A new class of homes oand communities started getting built in the late 90’s and it appealed to many of them who moved up. There are others who didnt but now see a good opportunity to do so. There is also an influx of these folks into the area that occurs regularly from outside of CA as well as the country. Some are inheriting money. Some are lifelong bachelors who finally settle down. Some hit it big with a business. Some finally get down decades of education, fellowships and residencies finally making partner and hitting it big.

You need to open your eyes to appreciate it. IT IS NOT ONE THING that you can put your finger on it is many things. It is life and there are people out there with more money than you. There always will be just like there will be those with less. Argue as you might the evidence overwhelms your feelings.

[sdrealtor]

DZ
Whether or not more high net worth individuals exist in the US, more of them exist in SD than 15 years ago. Alot of these folks arent extravagent spenders and were living in the same 1970’s/1980’s home they bought in the 90’s in NCC. A new class of homes oand communities started getting built in the late 90’s and it appealed to many of them who moved up. There are others who didnt but now see a good opportunity to do so. There is also an influx of these folks into the area that occurs regularly from outside of CA as well as the country. Some are inheriting money. Some are lifelong bachelors who finally settle down. Some hit it big with a business. Some finally get down decades of education, fellowships and residencies finally making partner and hitting it big.

You need to open your eyes to appreciate it. IT IS NOT ONE THING that you can put your finger on it is many things. It is life and there are people out there with more money than you. There always will be just like there will be those with less. Argue as you might the evidence overwhelms your feelings.

[sdrealtor]

DZ
Whether or not more high net worth individuals exist in the US, more of them exist in SD than 15 years ago. Alot of these folks arent extravagent spenders and were living in the same 1970’s/1980’s home they bought in the 90’s in NCC. A new class of homes oand communities started getting built in the late 90’s and it appealed to many of them who moved up. There are others who didnt but now see a good opportunity to do so. There is also an influx of these folks into the area that occurs regularly from outside of CA as well as the country. Some are inheriting money. Some are lifelong bachelors who finally settle down. Some hit it big with a business. Some finally get down decades of education, fellowships and residencies finally making partner and hitting it big.

You need to open your eyes to appreciate it. IT IS NOT ONE THING that you can put your finger on it is many things. It is life and there are people out there with more money than you. There always will be just like there will be those with less. Argue as you might the evidence overwhelms your feelings.

[Author]

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