What year was the road Camino del Sur built?

[earlyretirement]

[quote=bearishgurl][quote=earlyretirement]I do like La Jolla quite a bit but you can get much more for your money outside of La Jolla. We really love that area but most likely will buy further out.[/quote]

ER, did you ever wonder why inventory and vacant lots are just sitting in your area of choice? You would have the same problem if you purchased there and wanted or needed to sell in the coming years. There is only a very small minority of buyers that are willing to pay those exorbitant fees, which do not add to the value of a property but instead detract from it.

If you can find a suitable home in LJ that has been recently remodeled (or even a raze/custom build) in your price range (or maybe even a little above) this would be a MUCH better investment and cost MUCH less overall than “throwing away” an additional $15-$20K annually on MR + HOA dues, IMO. Even if it was +/- 3000 sf.

There will always be a “captive audience” of buyers for LJ – from all over the world – in every price range. It is also very convenient to Lindbergh Field which may prove to be of value to you. Remember that there is only ONE LJ and there’s nothing anyone can do about that :=][/quote]

Yes BG,

I understand why houses sit on the market forever there in Santaluz (except the houses that are priced attractively and realistically. From talking to several realtors, people really love the area but they say the vast majority of the buyers can’t come to terms with high HOA and high MR taxes. But I have.

Really, though you are looking at a home as an “investment” and I’m looking at it as a “home”. That is two very different things to me. I don’t look at the home where I plan to live for the next 15-18 years (until the kids are out of high school) as an “investment”. I already have an extensive real estate portfolio of several rental properties (all paid off) that are “investments”…. this is just a home….

So I don’t really care so much what happens in the shorter term. I won’t “need to sell”. I won’t have a mortgage so my monthly expenses will be more limited even with the HOA/MR. I’m buying for the long haul. We have absolutely no debt at all and despise it. So we won’t need to liquidate.

I truly believe what got people into their real estate mess is they think of their homes as “investments” and that just isn’t the case for us when buying a “home”.

I do agree with your comments about the desirability of La Jolla. It’s a fantastic area. If there was better pricing I’d love to buy something there but really tough to get a 4/5 bedroom renovated place there for the $1.2 million in the style that we like.

I really like the looks of the inside of this with the modern style. Even though the outside is Mid-Century…i like the decor on the inside

http://www.redfin.com/CA/La-Jolla/1920-Nautilus-St-92037/home/4922885

But they are truly DREAMING on that price. It looks like they picked it up last year for under $1 million and probably put in $100,000 in renovations and trying to flip it for $1.475 million.

We need at least 4 bedrooms and an office area so it’s a bit small but I don’t feel it’s good value at that price range. Prices are starting to drop in Santaluz on several nice higher end homes where you can find 4 bedrooms and an office for $950,000 to $1 million.

[xtina]

Requirements to me seem simple:
– good school district
– 4+ bedrooms
– 3,500 SF or greater
– about a $1M
– newer home / modern style
– nice area
– not too much street noise
– move in condition, no renovations needed

Not to be taken into consideration:
– high HOA/MR/CFD costs
– commute (as he’ll be working from home)
– large yard not necessary

Good luck in your search! Seems like you have done a fair amount of research and should be armed and ready for your trip out next month!

[xtina]

Requirements to me seem simple:
– good school district
– 4+ bedrooms
– 3,500 SF or greater
– about a $1M
– newer home / modern style
– nice area
– not too much street noise
– move in condition, no renovations needed

Not to be taken into consideration:
– high HOA/MR/CFD costs
– commute (as he’ll be working from home)
– large yard not necessary

Good luck in your search! Seems like you have done a fair amount of research and should be armed and ready for your trip out next month!

[xtina]

Requirements to me seem simple:
– good school district
– 4+ bedrooms
– 3,500 SF or greater
– about a $1M
– newer home / modern style
– nice area
– not too much street noise
– move in condition, no renovations needed

Not to be taken into consideration:
– high HOA/MR/CFD costs
– commute (as he’ll be working from home)
– large yard not necessary

Good luck in your search! Seems like you have done a fair amount of research and should be armed and ready for your trip out next month!

[xtina]

Requirements to me seem simple:
– good school district
– 4+ bedrooms
– 3,500 SF or greater
– about a $1M
– newer home / modern style
– nice area
– not too much street noise
– move in condition, no renovations needed

Not to be taken into consideration:
– high HOA/MR/CFD costs
– commute (as he’ll be working from home)
– large yard not necessary

Good luck in your search! Seems like you have done a fair amount of research and should be armed and ready for your trip out next month!

[xtina]

Requirements to me seem simple:
– good school district
– 4+ bedrooms
– 3,500 SF or greater
– about a $1M
– newer home / modern style
– nice area
– not too much street noise
– move in condition, no renovations needed

Not to be taken into consideration:
– high HOA/MR/CFD costs
– commute (as he’ll be working from home)
– large yard not necessary

Good luck in your search! Seems like you have done a fair amount of research and should be armed and ready for your trip out next month!

[ocrenter]

[quote=earlyretirement][quote=ocrenter]there’s a lot of reason why most folks looking at upper end homes end up along the areas around the 56 corridor. but the biggest reason is ultimately the schools and the reputation. and folks tend to cluster with like-minded folks, and thereby end up clustered together.

Santaluz is very attractive, we loved the area, the planning and the architecture, but in the end just could not stomach the high MR/HOA, simply way too outrageous. for upper end homes at and around 1 million, there are plenty of options within this belt along the 56/Ted Williams.

I agree 4S is very middle class and pedestrian, but Ivy Gate is an option. MR/HOA should be slightly lower, the lots are big and there are quite a bit of distress in there. The problem is you are looking at just 70 homes in there, so there’s a limited supply. Bernardo Lakes around 4 Gee and Santa Fe Valley developments are worth a look, they are more mature, built in early 2000, low HOA/MR.

Del Sur homes are too small, and the HOA+MR even higher. The Lakes and Crosby also saddled by heavy HOA/MR.

I think Poway is a very good alternative to Santaluz, esp North Poway with the gated homes and acre lots. low HOA and low MR, less than $2k per year, whereas Santaluz you are looking at almost $12k a year on HOA + MR. Problem is the area is well established and you really need some luck to find a bargain.

Staying within PUSD, Stonebridge has a lot of distress so the chances of getting a deal is higher, MR/HOA in the $6k range, outrageous to some but half that of Santaluz. Toll Bros starting a new development on 1/2 acre lots soon.

South of Pomerado in Scripps is also a good neighborhood, with similar HOA/MR to north Poway, but established and bargains are hard to find.

not trying to talk you out of Santaluz, just that while you may have come to term with the high HOA/MR, after a few years, it really gets old fast.[/quote]

OCRenter,

THANKS so much for mentioning those other areas. Again, as you also mentioned…it sounds like everyone really loves that development, the architecture, the homes and style of Santaluz. The thing I keep hearing over and over is the high HOA and Mello Roos.

I’ve already come to terms with those fees. I don’t look at it as “throwing money away” as Bearishgirl is claiming. Unfortunately taxes are an evil necessity these days and I imagine it will only go up across the board in many areas.

I will check out some of these other developments and appreciate you mentioning them.[/quote]

the ability to come to terms with the high MR/HOA is what ultimately separates who end up in Santaluz.

Within the upper income group, there’s another divide between upper income professionals with essentially fixed income vs the business class/independently wealthy. Santaluz/Crosby/Cielo/Lakes via the high HOA/MR essentially rid themselves of the upper income professionals as buyers. So yes, by virtue of the high HOA/MR, they do ensure the residents will be more of the truly wealthy.

I know a few upper income professionals that bought in there and ended up regretting it. ultimately, they simply don’t belong there and they will gradually exit the area.

I say for the next decade this type of cleansing of upper income professional types will continue within Santaluz. hopefully gradually replaced by the business class and business class retirees the development was truly for.

[ocrenter]

[quote=earlyretirement][quote=ocrenter]there’s a lot of reason why most folks looking at upper end homes end up along the areas around the 56 corridor. but the biggest reason is ultimately the schools and the reputation. and folks tend to cluster with like-minded folks, and thereby end up clustered together.

Santaluz is very attractive, we loved the area, the planning and the architecture, but in the end just could not stomach the high MR/HOA, simply way too outrageous. for upper end homes at and around 1 million, there are plenty of options within this belt along the 56/Ted Williams.

I agree 4S is very middle class and pedestrian, but Ivy Gate is an option. MR/HOA should be slightly lower, the lots are big and there are quite a bit of distress in there. The problem is you are looking at just 70 homes in there, so there’s a limited supply. Bernardo Lakes around 4 Gee and Santa Fe Valley developments are worth a look, they are more mature, built in early 2000, low HOA/MR.

Del Sur homes are too small, and the HOA+MR even higher. The Lakes and Crosby also saddled by heavy HOA/MR.

I think Poway is a very good alternative to Santaluz, esp North Poway with the gated homes and acre lots. low HOA and low MR, less than $2k per year, whereas Santaluz you are looking at almost $12k a year on HOA + MR. Problem is the area is well established and you really need some luck to find a bargain.

Staying within PUSD, Stonebridge has a lot of distress so the chances of getting a deal is higher, MR/HOA in the $6k range, outrageous to some but half that of Santaluz. Toll Bros starting a new development on 1/2 acre lots soon.

South of Pomerado in Scripps is also a good neighborhood, with similar HOA/MR to north Poway, but established and bargains are hard to find.

not trying to talk you out of Santaluz, just that while you may have come to term with the high HOA/MR, after a few years, it really gets old fast.[/quote]

OCRenter,

THANKS so much for mentioning those other areas. Again, as you also mentioned…it sounds like everyone really loves that development, the architecture, the homes and style of Santaluz. The thing I keep hearing over and over is the high HOA and Mello Roos.

I’ve already come to terms with those fees. I don’t look at it as “throwing money away” as Bearishgirl is claiming. Unfortunately taxes are an evil necessity these days and I imagine it will only go up across the board in many areas.

I will check out some of these other developments and appreciate you mentioning them.[/quote]

the ability to come to terms with the high MR/HOA is what ultimately separates who end up in Santaluz.

Within the upper income group, there’s another divide between upper income professionals with essentially fixed income vs the business class/independently wealthy. Santaluz/Crosby/Cielo/Lakes via the high HOA/MR essentially rid themselves of the upper income professionals as buyers. So yes, by virtue of the high HOA/MR, they do ensure the residents will be more of the truly wealthy.

I know a few upper income professionals that bought in there and ended up regretting it. ultimately, they simply don’t belong there and they will gradually exit the area.

I say for the next decade this type of cleansing of upper income professional types will continue within Santaluz. hopefully gradually replaced by the business class and business class retirees the development was truly for.

[ocrenter]

[quote=earlyretirement][quote=ocrenter]there’s a lot of reason why most folks looking at upper end homes end up along the areas around the 56 corridor. but the biggest reason is ultimately the schools and the reputation. and folks tend to cluster with like-minded folks, and thereby end up clustered together.

Santaluz is very attractive, we loved the area, the planning and the architecture, but in the end just could not stomach the high MR/HOA, simply way too outrageous. for upper end homes at and around 1 million, there are plenty of options within this belt along the 56/Ted Williams.

I agree 4S is very middle class and pedestrian, but Ivy Gate is an option. MR/HOA should be slightly lower, the lots are big and there are quite a bit of distress in there. The problem is you are looking at just 70 homes in there, so there’s a limited supply. Bernardo Lakes around 4 Gee and Santa Fe Valley developments are worth a look, they are more mature, built in early 2000, low HOA/MR.

Del Sur homes are too small, and the HOA+MR even higher. The Lakes and Crosby also saddled by heavy HOA/MR.

I think Poway is a very good alternative to Santaluz, esp North Poway with the gated homes and acre lots. low HOA and low MR, less than $2k per year, whereas Santaluz you are looking at almost $12k a year on HOA + MR. Problem is the area is well established and you really need some luck to find a bargain.

Staying within PUSD, Stonebridge has a lot of distress so the chances of getting a deal is higher, MR/HOA in the $6k range, outrageous to some but half that of Santaluz. Toll Bros starting a new development on 1/2 acre lots soon.

South of Pomerado in Scripps is also a good neighborhood, with similar HOA/MR to north Poway, but established and bargains are hard to find.

not trying to talk you out of Santaluz, just that while you may have come to term with the high HOA/MR, after a few years, it really gets old fast.[/quote]

OCRenter,

THANKS so much for mentioning those other areas. Again, as you also mentioned…it sounds like everyone really loves that development, the architecture, the homes and style of Santaluz. The thing I keep hearing over and over is the high HOA and Mello Roos.

I’ve already come to terms with those fees. I don’t look at it as “throwing money away” as Bearishgirl is claiming. Unfortunately taxes are an evil necessity these days and I imagine it will only go up across the board in many areas.

I will check out some of these other developments and appreciate you mentioning them.[/quote]

the ability to come to terms with the high MR/HOA is what ultimately separates who end up in Santaluz.

Within the upper income group, there’s another divide between upper income professionals with essentially fixed income vs the business class/independently wealthy. Santaluz/Crosby/Cielo/Lakes via the high HOA/MR essentially rid themselves of the upper income professionals as buyers. So yes, by virtue of the high HOA/MR, they do ensure the residents will be more of the truly wealthy.

I know a few upper income professionals that bought in there and ended up regretting it. ultimately, they simply don’t belong there and they will gradually exit the area.

I say for the next decade this type of cleansing of upper income professional types will continue within Santaluz. hopefully gradually replaced by the business class and business class retirees the development was truly for.

[ocrenter]

[quote=earlyretirement][quote=ocrenter]there’s a lot of reason why most folks looking at upper end homes end up along the areas around the 56 corridor. but the biggest reason is ultimately the schools and the reputation. and folks tend to cluster with like-minded folks, and thereby end up clustered together.

Santaluz is very attractive, we loved the area, the planning and the architecture, but in the end just could not stomach the high MR/HOA, simply way too outrageous. for upper end homes at and around 1 million, there are plenty of options within this belt along the 56/Ted Williams.

I agree 4S is very middle class and pedestrian, but Ivy Gate is an option. MR/HOA should be slightly lower, the lots are big and there are quite a bit of distress in there. The problem is you are looking at just 70 homes in there, so there’s a limited supply. Bernardo Lakes around 4 Gee and Santa Fe Valley developments are worth a look, they are more mature, built in early 2000, low HOA/MR.

Del Sur homes are too small, and the HOA+MR even higher. The Lakes and Crosby also saddled by heavy HOA/MR.

I think Poway is a very good alternative to Santaluz, esp North Poway with the gated homes and acre lots. low HOA and low MR, less than $2k per year, whereas Santaluz you are looking at almost $12k a year on HOA + MR. Problem is the area is well established and you really need some luck to find a bargain.

Staying within PUSD, Stonebridge has a lot of distress so the chances of getting a deal is higher, MR/HOA in the $6k range, outrageous to some but half that of Santaluz. Toll Bros starting a new development on 1/2 acre lots soon.

South of Pomerado in Scripps is also a good neighborhood, with similar HOA/MR to north Poway, but established and bargains are hard to find.

not trying to talk you out of Santaluz, just that while you may have come to term with the high HOA/MR, after a few years, it really gets old fast.[/quote]

OCRenter,

THANKS so much for mentioning those other areas. Again, as you also mentioned…it sounds like everyone really loves that development, the architecture, the homes and style of Santaluz. The thing I keep hearing over and over is the high HOA and Mello Roos.

I’ve already come to terms with those fees. I don’t look at it as “throwing money away” as Bearishgirl is claiming. Unfortunately taxes are an evil necessity these days and I imagine it will only go up across the board in many areas.

I will check out some of these other developments and appreciate you mentioning them.[/quote]

the ability to come to terms with the high MR/HOA is what ultimately separates who end up in Santaluz.

Within the upper income group, there’s another divide between upper income professionals with essentially fixed income vs the business class/independently wealthy. Santaluz/Crosby/Cielo/Lakes via the high HOA/MR essentially rid themselves of the upper income professionals as buyers. So yes, by virtue of the high HOA/MR, they do ensure the residents will be more of the truly wealthy.

I know a few upper income professionals that bought in there and ended up regretting it. ultimately, they simply don’t belong there and they will gradually exit the area.

I say for the next decade this type of cleansing of upper income professional types will continue within Santaluz. hopefully gradually replaced by the business class and business class retirees the development was truly for.

[ocrenter]

[quote=earlyretirement][quote=ocrenter]there’s a lot of reason why most folks looking at upper end homes end up along the areas around the 56 corridor. but the biggest reason is ultimately the schools and the reputation. and folks tend to cluster with like-minded folks, and thereby end up clustered together.

Santaluz is very attractive, we loved the area, the planning and the architecture, but in the end just could not stomach the high MR/HOA, simply way too outrageous. for upper end homes at and around 1 million, there are plenty of options within this belt along the 56/Ted Williams.

I agree 4S is very middle class and pedestrian, but Ivy Gate is an option. MR/HOA should be slightly lower, the lots are big and there are quite a bit of distress in there. The problem is you are looking at just 70 homes in there, so there’s a limited supply. Bernardo Lakes around 4 Gee and Santa Fe Valley developments are worth a look, they are more mature, built in early 2000, low HOA/MR.

Del Sur homes are too small, and the HOA+MR even higher. The Lakes and Crosby also saddled by heavy HOA/MR.

I think Poway is a very good alternative to Santaluz, esp North Poway with the gated homes and acre lots. low HOA and low MR, less than $2k per year, whereas Santaluz you are looking at almost $12k a year on HOA + MR. Problem is the area is well established and you really need some luck to find a bargain.

Staying within PUSD, Stonebridge has a lot of distress so the chances of getting a deal is higher, MR/HOA in the $6k range, outrageous to some but half that of Santaluz. Toll Bros starting a new development on 1/2 acre lots soon.

South of Pomerado in Scripps is also a good neighborhood, with similar HOA/MR to north Poway, but established and bargains are hard to find.

not trying to talk you out of Santaluz, just that while you may have come to term with the high HOA/MR, after a few years, it really gets old fast.[/quote]

OCRenter,

THANKS so much for mentioning those other areas. Again, as you also mentioned…it sounds like everyone really loves that development, the architecture, the homes and style of Santaluz. The thing I keep hearing over and over is the high HOA and Mello Roos.

I’ve already come to terms with those fees. I don’t look at it as “throwing money away” as Bearishgirl is claiming. Unfortunately taxes are an evil necessity these days and I imagine it will only go up across the board in many areas.

I will check out some of these other developments and appreciate you mentioning them.[/quote]

the ability to come to terms with the high MR/HOA is what ultimately separates who end up in Santaluz.

Within the upper income group, there’s another divide between upper income professionals with essentially fixed income vs the business class/independently wealthy. Santaluz/Crosby/Cielo/Lakes via the high HOA/MR essentially rid themselves of the upper income professionals as buyers. So yes, by virtue of the high HOA/MR, they do ensure the residents will be more of the truly wealthy.

I know a few upper income professionals that bought in there and ended up regretting it. ultimately, they simply don’t belong there and they will gradually exit the area.

I say for the next decade this type of cleansing of upper income professional types will continue within Santaluz. hopefully gradually replaced by the business class and business class retirees the development was truly for.

[earlyretirement]

[quote=ocrenter]

the ability to come to terms with the high MR/HOA is what ultimately separates who end up in Santaluz.

Within the upper income group, there’s another divide between upper income professionals with essentially fixed income vs the business class/independently wealthy. Santaluz/Crosby/Cielo/Lakes via the high HOA/MR essentially rid themselves of the upper income professionals as buyers. So yes, by virtue of the high HOA/MR, they do ensure the residents will be more of the truly wealthy.

I know a few upper income professionals that bought in there and ended up regretting it. ultimately, they simply don’t belong there and they will gradually exit the area.

I say for the next decade this type of cleansing of upper income professional types will continue within Santaluz. hopefully gradually replaced by the business class and business class retirees the development was truly for.[/quote]

OCRenter,

Exactly! That’s the conclusion I came to as well. And I haven’t even physically been to Santaluz yet but doing a lot of due diligence on the area.

From my due diligence, it looks like a proportionally high number of speculators bought in some parts of the development. Especially some realtors that got burned not flipping fast enough. So I imagine that inventory will get cleared out eventually at lower prices with this group of people.

But it looks like many others can just afford to hold on for long periods of time. It seems like the median age there is older. We will be the exception for the most part as I’m still in my mid 30’s and my wife mid 20’s.

It does look like much of the area is wealthier as you described. I’m not really interested in the area for that reason. I’ve just found that nicer areas like that are more prone to do well over the long haul and the area is much better cared for and the development doesn’t really go downhill like a lot of lower end or more affordable areas or developments. Of course there are exceptions to the rule but I’ve seen that over and over in other developments around the world.

For me, it just comes down to personal taste in architecture, the high end area and the look of the development and homes in the area. Also, the safety aspect doesn’t hurt and the school district in the area is top notch and a big factor in our consideration where we live since we have 2 young children.

I toy with the idea of “early retirement” but I’m still fairly young and I enjoy working so not sure that is in the cards for me. But we do make enough with cash flow from other investments and rental properties so that we could theoretically “retire” if we wanted. Most likely I’ll go back to work or work out of the house in a home office. I do consulting and can work anywhere there is internet and phone.

I’m curious to know now what % is retirees there?

I’ve seen on various forums of people kind of badmouthing Santaluz. Yeah, the high MR and HOA fees leave a bad taste in my mouth as well…but much of the bad talk seems almost to be from people that couldn’t afford to live in Santaluz in the first place which isn’t a really good reason to badmouth an area.

Yeah, the lots are smaller in some of these developments and high fees but besides that seems like if you’re not buying for “investment” reasons and buying purely to live it would be a high quality of life.

I’d still love to hear the other side of that from people that actually live within Santaluz. I read some old posts from people that live there but nothing recent.

A poster was kind enough to email me some options in 92128 which also is on the Poway School District. There are a few nice homes in that area but they tend to be older for the most part. It’s great with lower HOA and many have low/no HOA but still not so much to choose from in that area and I still much prefer the look of the more modern homes/area in the Santaluz area.

[earlyretirement]

[quote=ocrenter]

the ability to come to terms with the high MR/HOA is what ultimately separates who end up in Santaluz.

Within the upper income group, there’s another divide between upper income professionals with essentially fixed income vs the business class/independently wealthy. Santaluz/Crosby/Cielo/Lakes via the high HOA/MR essentially rid themselves of the upper income professionals as buyers. So yes, by virtue of the high HOA/MR, they do ensure the residents will be more of the truly wealthy.

I know a few upper income professionals that bought in there and ended up regretting it. ultimately, they simply don’t belong there and they will gradually exit the area.

I say for the next decade this type of cleansing of upper income professional types will continue within Santaluz. hopefully gradually replaced by the business class and business class retirees the development was truly for.[/quote]

OCRenter,

Exactly! That’s the conclusion I came to as well. And I haven’t even physically been to Santaluz yet but doing a lot of due diligence on the area.

From my due diligence, it looks like a proportionally high number of speculators bought in some parts of the development. Especially some realtors that got burned not flipping fast enough. So I imagine that inventory will get cleared out eventually at lower prices with this group of people.

But it looks like many others can just afford to hold on for long periods of time. It seems like the median age there is older. We will be the exception for the most part as I’m still in my mid 30’s and my wife mid 20’s.

It does look like much of the area is wealthier as you described. I’m not really interested in the area for that reason. I’ve just found that nicer areas like that are more prone to do well over the long haul and the area is much better cared for and the development doesn’t really go downhill like a lot of lower end or more affordable areas or developments. Of course there are exceptions to the rule but I’ve seen that over and over in other developments around the world.

For me, it just comes down to personal taste in architecture, the high end area and the look of the development and homes in the area. Also, the safety aspect doesn’t hurt and the school district in the area is top notch and a big factor in our consideration where we live since we have 2 young children.

I toy with the idea of “early retirement” but I’m still fairly young and I enjoy working so not sure that is in the cards for me. But we do make enough with cash flow from other investments and rental properties so that we could theoretically “retire” if we wanted. Most likely I’ll go back to work or work out of the house in a home office. I do consulting and can work anywhere there is internet and phone.

I’m curious to know now what % is retirees there?

I’ve seen on various forums of people kind of badmouthing Santaluz. Yeah, the high MR and HOA fees leave a bad taste in my mouth as well…but much of the bad talk seems almost to be from people that couldn’t afford to live in Santaluz in the first place which isn’t a really good reason to badmouth an area.

Yeah, the lots are smaller in some of these developments and high fees but besides that seems like if you’re not buying for “investment” reasons and buying purely to live it would be a high quality of life.

I’d still love to hear the other side of that from people that actually live within Santaluz. I read some old posts from people that live there but nothing recent.

A poster was kind enough to email me some options in 92128 which also is on the Poway School District. There are a few nice homes in that area but they tend to be older for the most part. It’s great with lower HOA and many have low/no HOA but still not so much to choose from in that area and I still much prefer the look of the more modern homes/area in the Santaluz area.

[earlyretirement]

[quote=ocrenter]

the ability to come to terms with the high MR/HOA is what ultimately separates who end up in Santaluz.

Within the upper income group, there’s another divide between upper income professionals with essentially fixed income vs the business class/independently wealthy. Santaluz/Crosby/Cielo/Lakes via the high HOA/MR essentially rid themselves of the upper income professionals as buyers. So yes, by virtue of the high HOA/MR, they do ensure the residents will be more of the truly wealthy.

I know a few upper income professionals that bought in there and ended up regretting it. ultimately, they simply don’t belong there and they will gradually exit the area.

I say for the next decade this type of cleansing of upper income professional types will continue within Santaluz. hopefully gradually replaced by the business class and business class retirees the development was truly for.[/quote]

OCRenter,

Exactly! That’s the conclusion I came to as well. And I haven’t even physically been to Santaluz yet but doing a lot of due diligence on the area.

From my due diligence, it looks like a proportionally high number of speculators bought in some parts of the development. Especially some realtors that got burned not flipping fast enough. So I imagine that inventory will get cleared out eventually at lower prices with this group of people.

But it looks like many others can just afford to hold on for long periods of time. It seems like the median age there is older. We will be the exception for the most part as I’m still in my mid 30’s and my wife mid 20’s.

It does look like much of the area is wealthier as you described. I’m not really interested in the area for that reason. I’ve just found that nicer areas like that are more prone to do well over the long haul and the area is much better cared for and the development doesn’t really go downhill like a lot of lower end or more affordable areas or developments. Of course there are exceptions to the rule but I’ve seen that over and over in other developments around the world.

For me, it just comes down to personal taste in architecture, the high end area and the look of the development and homes in the area. Also, the safety aspect doesn’t hurt and the school district in the area is top notch and a big factor in our consideration where we live since we have 2 young children.

I toy with the idea of “early retirement” but I’m still fairly young and I enjoy working so not sure that is in the cards for me. But we do make enough with cash flow from other investments and rental properties so that we could theoretically “retire” if we wanted. Most likely I’ll go back to work or work out of the house in a home office. I do consulting and can work anywhere there is internet and phone.

I’m curious to know now what % is retirees there?

I’ve seen on various forums of people kind of badmouthing Santaluz. Yeah, the high MR and HOA fees leave a bad taste in my mouth as well…but much of the bad talk seems almost to be from people that couldn’t afford to live in Santaluz in the first place which isn’t a really good reason to badmouth an area.

Yeah, the lots are smaller in some of these developments and high fees but besides that seems like if you’re not buying for “investment” reasons and buying purely to live it would be a high quality of life.

I’d still love to hear the other side of that from people that actually live within Santaluz. I read some old posts from people that live there but nothing recent.

A poster was kind enough to email me some options in 92128 which also is on the Poway School District. There are a few nice homes in that area but they tend to be older for the most part. It’s great with lower HOA and many have low/no HOA but still not so much to choose from in that area and I still much prefer the look of the more modern homes/area in the Santaluz area.

[earlyretirement]

[quote=ocrenter]

the ability to come to terms with the high MR/HOA is what ultimately separates who end up in Santaluz.

Within the upper income group, there’s another divide between upper income professionals with essentially fixed income vs the business class/independently wealthy. Santaluz/Crosby/Cielo/Lakes via the high HOA/MR essentially rid themselves of the upper income professionals as buyers. So yes, by virtue of the high HOA/MR, they do ensure the residents will be more of the truly wealthy.

I know a few upper income professionals that bought in there and ended up regretting it. ultimately, they simply don’t belong there and they will gradually exit the area.

I say for the next decade this type of cleansing of upper income professional types will continue within Santaluz. hopefully gradually replaced by the business class and business class retirees the development was truly for.[/quote]

OCRenter,

Exactly! That’s the conclusion I came to as well. And I haven’t even physically been to Santaluz yet but doing a lot of due diligence on the area.

From my due diligence, it looks like a proportionally high number of speculators bought in some parts of the development. Especially some realtors that got burned not flipping fast enough. So I imagine that inventory will get cleared out eventually at lower prices with this group of people.

But it looks like many others can just afford to hold on for long periods of time. It seems like the median age there is older. We will be the exception for the most part as I’m still in my mid 30’s and my wife mid 20’s.

It does look like much of the area is wealthier as you described. I’m not really interested in the area for that reason. I’ve just found that nicer areas like that are more prone to do well over the long haul and the area is much better cared for and the development doesn’t really go downhill like a lot of lower end or more affordable areas or developments. Of course there are exceptions to the rule but I’ve seen that over and over in other developments around the world.

For me, it just comes down to personal taste in architecture, the high end area and the look of the development and homes in the area. Also, the safety aspect doesn’t hurt and the school district in the area is top notch and a big factor in our consideration where we live since we have 2 young children.

I toy with the idea of “early retirement” but I’m still fairly young and I enjoy working so not sure that is in the cards for me. But we do make enough with cash flow from other investments and rental properties so that we could theoretically “retire” if we wanted. Most likely I’ll go back to work or work out of the house in a home office. I do consulting and can work anywhere there is internet and phone.

I’m curious to know now what % is retirees there?

I’ve seen on various forums of people kind of badmouthing Santaluz. Yeah, the high MR and HOA fees leave a bad taste in my mouth as well…but much of the bad talk seems almost to be from people that couldn’t afford to live in Santaluz in the first place which isn’t a really good reason to badmouth an area.

Yeah, the lots are smaller in some of these developments and high fees but besides that seems like if you’re not buying for “investment” reasons and buying purely to live it would be a high quality of life.

I’d still love to hear the other side of that from people that actually live within Santaluz. I read some old posts from people that live there but nothing recent.

A poster was kind enough to email me some options in 92128 which also is on the Poway School District. There are a few nice homes in that area but they tend to be older for the most part. It’s great with lower HOA and many have low/no HOA but still not so much to choose from in that area and I still much prefer the look of the more modern homes/area in the Santaluz area.

[Author]

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