What year was the road Camino del Sur built?

[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=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![/quote]

Yes, Xtina! I missed your post but just noticed it now. That’s exactly correct in terms of what we are looking for. The only thing I’d add to your list are:

– Safe area / safe neighborhood
– Long term potential for the area to stay higher end and not go to crap
– Ideally west of I-15 or not too far past it

But your list mixed with these 3 things pretty much sums up what we are looking for. I know it’s fairly picky but we can wait until we find this.

Of course like anyone, I’d prefer lower HOA fees but most of the areas don’t seem to be as nice as Santluz. We did see several homes in Carmel Valley last year. The ones that we liked that were in “move in ready condition” with renovated bathrooms and kitchens went fairly quickly.

Also, we are already used to paying high HOA/condo fees. We live in a penthouse apartment now and our monthly fees are over $700 a month so we are already accustomed to paying these kind of monthly fees on HOA/condo fees.

Right now there isn’t many properties on the market that meet all of our criteria. I might be open to doing some slight renovations now as I’m finding it tough to get all of these things we are looking for.

As to the backyard/lot size. It will be nice to have some outdoor area for the kids to play but I’m not one of these people that needs some huge spread or acre lot. It’s a hassle to maintain and just really not necessary for us to have a huge yard/lot. Proximity to a park or playground area will be ok if the yard isn’t big.

But I have a lot of experience buying real estate and have purchased hundreds of properties in the past decade so I’m not really flustered with the process.

Thanks again.

[earlyretirement]

[quote=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![/quote]

Yes, Xtina! I missed your post but just noticed it now. That’s exactly correct in terms of what we are looking for. The only thing I’d add to your list are:

– Safe area / safe neighborhood
– Long term potential for the area to stay higher end and not go to crap
– Ideally west of I-15 or not too far past it

But your list mixed with these 3 things pretty much sums up what we are looking for. I know it’s fairly picky but we can wait until we find this.

Of course like anyone, I’d prefer lower HOA fees but most of the areas don’t seem to be as nice as Santluz. We did see several homes in Carmel Valley last year. The ones that we liked that were in “move in ready condition” with renovated bathrooms and kitchens went fairly quickly.

Also, we are already used to paying high HOA/condo fees. We live in a penthouse apartment now and our monthly fees are over $700 a month so we are already accustomed to paying these kind of monthly fees on HOA/condo fees.

Right now there isn’t many properties on the market that meet all of our criteria. I might be open to doing some slight renovations now as I’m finding it tough to get all of these things we are looking for.

As to the backyard/lot size. It will be nice to have some outdoor area for the kids to play but I’m not one of these people that needs some huge spread or acre lot. It’s a hassle to maintain and just really not necessary for us to have a huge yard/lot. Proximity to a park or playground area will be ok if the yard isn’t big.

But I have a lot of experience buying real estate and have purchased hundreds of properties in the past decade so I’m not really flustered with the process.

Thanks again.

[earlyretirement]

[quote=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![/quote]

Yes, Xtina! I missed your post but just noticed it now. That’s exactly correct in terms of what we are looking for. The only thing I’d add to your list are:

– Safe area / safe neighborhood
– Long term potential for the area to stay higher end and not go to crap
– Ideally west of I-15 or not too far past it

But your list mixed with these 3 things pretty much sums up what we are looking for. I know it’s fairly picky but we can wait until we find this.

Of course like anyone, I’d prefer lower HOA fees but most of the areas don’t seem to be as nice as Santluz. We did see several homes in Carmel Valley last year. The ones that we liked that were in “move in ready condition” with renovated bathrooms and kitchens went fairly quickly.

Also, we are already used to paying high HOA/condo fees. We live in a penthouse apartment now and our monthly fees are over $700 a month so we are already accustomed to paying these kind of monthly fees on HOA/condo fees.

Right now there isn’t many properties on the market that meet all of our criteria. I might be open to doing some slight renovations now as I’m finding it tough to get all of these things we are looking for.

As to the backyard/lot size. It will be nice to have some outdoor area for the kids to play but I’m not one of these people that needs some huge spread or acre lot. It’s a hassle to maintain and just really not necessary for us to have a huge yard/lot. Proximity to a park or playground area will be ok if the yard isn’t big.

But I have a lot of experience buying real estate and have purchased hundreds of properties in the past decade so I’m not really flustered with the process.

Thanks again.

[earlyretirement]

[quote=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![/quote]

Yes, Xtina! I missed your post but just noticed it now. That’s exactly correct in terms of what we are looking for. The only thing I’d add to your list are:

– Safe area / safe neighborhood
– Long term potential for the area to stay higher end and not go to crap
– Ideally west of I-15 or not too far past it

But your list mixed with these 3 things pretty much sums up what we are looking for. I know it’s fairly picky but we can wait until we find this.

Of course like anyone, I’d prefer lower HOA fees but most of the areas don’t seem to be as nice as Santluz. We did see several homes in Carmel Valley last year. The ones that we liked that were in “move in ready condition” with renovated bathrooms and kitchens went fairly quickly.

Also, we are already used to paying high HOA/condo fees. We live in a penthouse apartment now and our monthly fees are over $700 a month so we are already accustomed to paying these kind of monthly fees on HOA/condo fees.

Right now there isn’t many properties on the market that meet all of our criteria. I might be open to doing some slight renovations now as I’m finding it tough to get all of these things we are looking for.

As to the backyard/lot size. It will be nice to have some outdoor area for the kids to play but I’m not one of these people that needs some huge spread or acre lot. It’s a hassle to maintain and just really not necessary for us to have a huge yard/lot. Proximity to a park or playground area will be ok if the yard isn’t big.

But I have a lot of experience buying real estate and have purchased hundreds of properties in the past decade so I’m not really flustered with the process.

Thanks again.

[earlyretirement]

[quote=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![/quote]

Yes, Xtina! I missed your post but just noticed it now. That’s exactly correct in terms of what we are looking for. The only thing I’d add to your list are:

– Safe area / safe neighborhood
– Long term potential for the area to stay higher end and not go to crap
– Ideally west of I-15 or not too far past it

But your list mixed with these 3 things pretty much sums up what we are looking for. I know it’s fairly picky but we can wait until we find this.

Of course like anyone, I’d prefer lower HOA fees but most of the areas don’t seem to be as nice as Santluz. We did see several homes in Carmel Valley last year. The ones that we liked that were in “move in ready condition” with renovated bathrooms and kitchens went fairly quickly.

Also, we are already used to paying high HOA/condo fees. We live in a penthouse apartment now and our monthly fees are over $700 a month so we are already accustomed to paying these kind of monthly fees on HOA/condo fees.

Right now there isn’t many properties on the market that meet all of our criteria. I might be open to doing some slight renovations now as I’m finding it tough to get all of these things we are looking for.

As to the backyard/lot size. It will be nice to have some outdoor area for the kids to play but I’m not one of these people that needs some huge spread or acre lot. It’s a hassle to maintain and just really not necessary for us to have a huge yard/lot. Proximity to a park or playground area will be ok if the yard isn’t big.

But I have a lot of experience buying real estate and have purchased hundreds of properties in the past decade so I’m not really flustered with the process.

Thanks again.

[bearishgurl]

[quote=earlyretirement]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.[/quote]

ER, due to your screen name, I had you pegged as late forties or beyond. Until you just posted that you needed schools for 15-18 years, I didn’t realize your kids were so young and you were so young. Most members of your generation DO prefer brand-new or near-new construction and “Tuscan-style” architecture.

The “mid-century” listing you posted in LJ is priced pretty well. I predict it will sell for within $100,000 of its list price. These types of homes aren’t easy or cheap to renovate. Even if the sellers bought it recently for +/- $1M and put $100,000 into renovations, that may very well have been materials only. In addition, there is lot clearing, replanting and landscaping on a large, mature lot. I don’t have to tell you that all of this is a lot of work (and inconvenience to daily life even if contracted out). The buyer here will also be paying for the privacy of a nearly 1/2 AC well-landscaped lot in a highly sought after exclusive area. Since it is an “open” floor plan, the fact that it is smaller than what you are looking is secondary, IMO. In fact, the buyer of this home will most likely be a retiring “baby-boomer.”

The Muirlands is EXACTLY what I had in mind for you and your family. I surmised you would be “retiring” soon once your kids got out of high school (somehow I thought they were HS students). Even if you purchase a property in the Muirlands for up to $1.3M, you will be able to recover the money in a sale down the line. I realize you are looking for a long-term home but you have to take into consideration that you may want or need to sell it at some point in the future.

Of course, you must be aware that MR/HOA is NOT tax-deductible. It is too soon to tell yet, due to your area of choice being currently far from “built out,” but this area COULD feasibly deteriorate if too many owners (esp those who own vacant lots) stop paying their HOA dues for any reason. There, the future value and saleability of your property is entirely dependent upon the action or inaction of your neighboring homeowners, no matter what improvements you choose to make. In the Muirlands, many, many of these properties have been paid for for YEARS. There is no danger of heavy distress, no HOA and no MR. And as I previously mentioned, there is an endless “captive audience” of buyers for this area.

Why don’t you order “plat maps” from the County Assessor (or buy them when you come to visit) of SantaLuz (organized in binders on the east wall by first 3 digits of parcel no). They are 11″ x 22″ each and cost $2. Their office is located at 1600 Pacific Hwy in dtn SD (1 mi south of the airport). It is a large circa 1935 refurbished building with a tiled fountain in front facing Harbor Drive and the bay, situated between Ash and Grape Sts. The assessors office is on the north end on the 1st flr and all the green spaces towards the bldg are free for 2 hrs.

Once you have these maps, you can visit the development and mark all the addresses on it (note home style and approx SF) as well as note the vacant parcels. You can then, in your leisure, determine the overall indebtedness of each developed parcel and decide for yourself how feasible it will be that these encumbrances (along with property taxes, HOA and MR) will continue on into the future.

Just because some lots are sold now and have handsome-looking houses on them, this says NOTHING about the future viability of an area, especially a far-flung, relatively new area such as SantaLuz.

[bearishgurl]

[quote=earlyretirement]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.[/quote]

ER, due to your screen name, I had you pegged as late forties or beyond. Until you just posted that you needed schools for 15-18 years, I didn’t realize your kids were so young and you were so young. Most members of your generation DO prefer brand-new or near-new construction and “Tuscan-style” architecture.

The “mid-century” listing you posted in LJ is priced pretty well. I predict it will sell for within $100,000 of its list price. These types of homes aren’t easy or cheap to renovate. Even if the sellers bought it recently for +/- $1M and put $100,000 into renovations, that may very well have been materials only. In addition, there is lot clearing, replanting and landscaping on a large, mature lot. I don’t have to tell you that all of this is a lot of work (and inconvenience to daily life even if contracted out). The buyer here will also be paying for the privacy of a nearly 1/2 AC well-landscaped lot in a highly sought after exclusive area. Since it is an “open” floor plan, the fact that it is smaller than what you are looking is secondary, IMO. In fact, the buyer of this home will most likely be a retiring “baby-boomer.”

The Muirlands is EXACTLY what I had in mind for you and your family. I surmised you would be “retiring” soon once your kids got out of high school (somehow I thought they were HS students). Even if you purchase a property in the Muirlands for up to $1.3M, you will be able to recover the money in a sale down the line. I realize you are looking for a long-term home but you have to take into consideration that you may want or need to sell it at some point in the future.

Of course, you must be aware that MR/HOA is NOT tax-deductible. It is too soon to tell yet, due to your area of choice being currently far from “built out,” but this area COULD feasibly deteriorate if too many owners (esp those who own vacant lots) stop paying their HOA dues for any reason. There, the future value and saleability of your property is entirely dependent upon the action or inaction of your neighboring homeowners, no matter what improvements you choose to make. In the Muirlands, many, many of these properties have been paid for for YEARS. There is no danger of heavy distress, no HOA and no MR. And as I previously mentioned, there is an endless “captive audience” of buyers for this area.

Why don’t you order “plat maps” from the County Assessor (or buy them when you come to visit) of SantaLuz (organized in binders on the east wall by first 3 digits of parcel no). They are 11″ x 22″ each and cost $2. Their office is located at 1600 Pacific Hwy in dtn SD (1 mi south of the airport). It is a large circa 1935 refurbished building with a tiled fountain in front facing Harbor Drive and the bay, situated between Ash and Grape Sts. The assessors office is on the north end on the 1st flr and all the green spaces towards the bldg are free for 2 hrs.

Once you have these maps, you can visit the development and mark all the addresses on it (note home style and approx SF) as well as note the vacant parcels. You can then, in your leisure, determine the overall indebtedness of each developed parcel and decide for yourself how feasible it will be that these encumbrances (along with property taxes, HOA and MR) will continue on into the future.

Just because some lots are sold now and have handsome-looking houses on them, this says NOTHING about the future viability of an area, especially a far-flung, relatively new area such as SantaLuz.

[bearishgurl]

[quote=earlyretirement]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.[/quote]

ER, due to your screen name, I had you pegged as late forties or beyond. Until you just posted that you needed schools for 15-18 years, I didn’t realize your kids were so young and you were so young. Most members of your generation DO prefer brand-new or near-new construction and “Tuscan-style” architecture.

The “mid-century” listing you posted in LJ is priced pretty well. I predict it will sell for within $100,000 of its list price. These types of homes aren’t easy or cheap to renovate. Even if the sellers bought it recently for +/- $1M and put $100,000 into renovations, that may very well have been materials only. In addition, there is lot clearing, replanting and landscaping on a large, mature lot. I don’t have to tell you that all of this is a lot of work (and inconvenience to daily life even if contracted out). The buyer here will also be paying for the privacy of a nearly 1/2 AC well-landscaped lot in a highly sought after exclusive area. Since it is an “open” floor plan, the fact that it is smaller than what you are looking is secondary, IMO. In fact, the buyer of this home will most likely be a retiring “baby-boomer.”

The Muirlands is EXACTLY what I had in mind for you and your family. I surmised you would be “retiring” soon once your kids got out of high school (somehow I thought they were HS students). Even if you purchase a property in the Muirlands for up to $1.3M, you will be able to recover the money in a sale down the line. I realize you are looking for a long-term home but you have to take into consideration that you may want or need to sell it at some point in the future.

Of course, you must be aware that MR/HOA is NOT tax-deductible. It is too soon to tell yet, due to your area of choice being currently far from “built out,” but this area COULD feasibly deteriorate if too many owners (esp those who own vacant lots) stop paying their HOA dues for any reason. There, the future value and saleability of your property is entirely dependent upon the action or inaction of your neighboring homeowners, no matter what improvements you choose to make. In the Muirlands, many, many of these properties have been paid for for YEARS. There is no danger of heavy distress, no HOA and no MR. And as I previously mentioned, there is an endless “captive audience” of buyers for this area.

Why don’t you order “plat maps” from the County Assessor (or buy them when you come to visit) of SantaLuz (organized in binders on the east wall by first 3 digits of parcel no). They are 11″ x 22″ each and cost $2. Their office is located at 1600 Pacific Hwy in dtn SD (1 mi south of the airport). It is a large circa 1935 refurbished building with a tiled fountain in front facing Harbor Drive and the bay, situated between Ash and Grape Sts. The assessors office is on the north end on the 1st flr and all the green spaces towards the bldg are free for 2 hrs.

Once you have these maps, you can visit the development and mark all the addresses on it (note home style and approx SF) as well as note the vacant parcels. You can then, in your leisure, determine the overall indebtedness of each developed parcel and decide for yourself how feasible it will be that these encumbrances (along with property taxes, HOA and MR) will continue on into the future.

Just because some lots are sold now and have handsome-looking houses on them, this says NOTHING about the future viability of an area, especially a far-flung, relatively new area such as SantaLuz.

[bearishgurl]

[quote=earlyretirement]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.[/quote]

ER, due to your screen name, I had you pegged as late forties or beyond. Until you just posted that you needed schools for 15-18 years, I didn’t realize your kids were so young and you were so young. Most members of your generation DO prefer brand-new or near-new construction and “Tuscan-style” architecture.

The “mid-century” listing you posted in LJ is priced pretty well. I predict it will sell for within $100,000 of its list price. These types of homes aren’t easy or cheap to renovate. Even if the sellers bought it recently for +/- $1M and put $100,000 into renovations, that may very well have been materials only. In addition, there is lot clearing, replanting and landscaping on a large, mature lot. I don’t have to tell you that all of this is a lot of work (and inconvenience to daily life even if contracted out). The buyer here will also be paying for the privacy of a nearly 1/2 AC well-landscaped lot in a highly sought after exclusive area. Since it is an “open” floor plan, the fact that it is smaller than what you are looking is secondary, IMO. In fact, the buyer of this home will most likely be a retiring “baby-boomer.”

The Muirlands is EXACTLY what I had in mind for you and your family. I surmised you would be “retiring” soon once your kids got out of high school (somehow I thought they were HS students). Even if you purchase a property in the Muirlands for up to $1.3M, you will be able to recover the money in a sale down the line. I realize you are looking for a long-term home but you have to take into consideration that you may want or need to sell it at some point in the future.

Of course, you must be aware that MR/HOA is NOT tax-deductible. It is too soon to tell yet, due to your area of choice being currently far from “built out,” but this area COULD feasibly deteriorate if too many owners (esp those who own vacant lots) stop paying their HOA dues for any reason. There, the future value and saleability of your property is entirely dependent upon the action or inaction of your neighboring homeowners, no matter what improvements you choose to make. In the Muirlands, many, many of these properties have been paid for for YEARS. There is no danger of heavy distress, no HOA and no MR. And as I previously mentioned, there is an endless “captive audience” of buyers for this area.

Why don’t you order “plat maps” from the County Assessor (or buy them when you come to visit) of SantaLuz (organized in binders on the east wall by first 3 digits of parcel no). They are 11″ x 22″ each and cost $2. Their office is located at 1600 Pacific Hwy in dtn SD (1 mi south of the airport). It is a large circa 1935 refurbished building with a tiled fountain in front facing Harbor Drive and the bay, situated between Ash and Grape Sts. The assessors office is on the north end on the 1st flr and all the green spaces towards the bldg are free for 2 hrs.

Once you have these maps, you can visit the development and mark all the addresses on it (note home style and approx SF) as well as note the vacant parcels. You can then, in your leisure, determine the overall indebtedness of each developed parcel and decide for yourself how feasible it will be that these encumbrances (along with property taxes, HOA and MR) will continue on into the future.

Just because some lots are sold now and have handsome-looking houses on them, this says NOTHING about the future viability of an area, especially a far-flung, relatively new area such as SantaLuz.

[bearishgurl]

[quote=earlyretirement]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.[/quote]

ER, due to your screen name, I had you pegged as late forties or beyond. Until you just posted that you needed schools for 15-18 years, I didn’t realize your kids were so young and you were so young. Most members of your generation DO prefer brand-new or near-new construction and “Tuscan-style” architecture.

The “mid-century” listing you posted in LJ is priced pretty well. I predict it will sell for within $100,000 of its list price. These types of homes aren’t easy or cheap to renovate. Even if the sellers bought it recently for +/- $1M and put $100,000 into renovations, that may very well have been materials only. In addition, there is lot clearing, replanting and landscaping on a large, mature lot. I don’t have to tell you that all of this is a lot of work (and inconvenience to daily life even if contracted out). The buyer here will also be paying for the privacy of a nearly 1/2 AC well-landscaped lot in a highly sought after exclusive area. Since it is an “open” floor plan, the fact that it is smaller than what you are looking is secondary, IMO. In fact, the buyer of this home will most likely be a retiring “baby-boomer.”

The Muirlands is EXACTLY what I had in mind for you and your family. I surmised you would be “retiring” soon once your kids got out of high school (somehow I thought they were HS students). Even if you purchase a property in the Muirlands for up to $1.3M, you will be able to recover the money in a sale down the line. I realize you are looking for a long-term home but you have to take into consideration that you may want or need to sell it at some point in the future.

Of course, you must be aware that MR/HOA is NOT tax-deductible. It is too soon to tell yet, due to your area of choice being currently far from “built out,” but this area COULD feasibly deteriorate if too many owners (esp those who own vacant lots) stop paying their HOA dues for any reason. There, the future value and saleability of your property is entirely dependent upon the action or inaction of your neighboring homeowners, no matter what improvements you choose to make. In the Muirlands, many, many of these properties have been paid for for YEARS. There is no danger of heavy distress, no HOA and no MR. And as I previously mentioned, there is an endless “captive audience” of buyers for this area.

Why don’t you order “plat maps” from the County Assessor (or buy them when you come to visit) of SantaLuz (organized in binders on the east wall by first 3 digits of parcel no). They are 11″ x 22″ each and cost $2. Their office is located at 1600 Pacific Hwy in dtn SD (1 mi south of the airport). It is a large circa 1935 refurbished building with a tiled fountain in front facing Harbor Drive and the bay, situated between Ash and Grape Sts. The assessors office is on the north end on the 1st flr and all the green spaces towards the bldg are free for 2 hrs.

Once you have these maps, you can visit the development and mark all the addresses on it (note home style and approx SF) as well as note the vacant parcels. You can then, in your leisure, determine the overall indebtedness of each developed parcel and decide for yourself how feasible it will be that these encumbrances (along with property taxes, HOA and MR) will continue on into the future.

Just because some lots are sold now and have handsome-looking houses on them, this says NOTHING about the future viability of an area, especially a far-flung, relatively new area such as SantaLuz.

[earlyretirement]

HI BG,

Yeah, I figured that probably my screen name gave the wrong idea of my age..that’s why I mentioned it. I realize we’re not in the typical situation for our ages. Just lots of hard work over the years and a few successful companies (one of which I just sold to a larger multinational company).

Yeah, we will most likely stick around in the home we buy for 15+ years. We might have another child but that would be it. The property I listed in La Jolla is GORGEOUS and the style that I like. The materials look really great inside.

You’re right renovations are a pain! I’ve even done complete from scratch custom home builds for investors in the past and not sure how I survived! Ha ha. I always say, “never again”.

But properties like that in La Jolla I’m finding aren’t so easy to find and I really don’t want to go past our budget. I’m not as sure as you that the house in Muirlands will sell for within $100,000 of asking price. They just lowered the price it looks yesterday.

The extra yard space is nice but not a necessity for us. But I agree it’s GREAT that there aren’t any MR fees there. The schools are also great in La Jolla but it’s difficult to find a house that is renovated with the style we like for our budget in La Jolla.

I know that La Jolla will ALWAYS be desirable in the future so that part appeals to us.

I agree with you that even higher end areas like Santaluz can go downhill but I don’t see that as a high likelihood but I agree with you that La Jolla is a much more desirable area. Just an expensive area per sq. foot.

Again, I’m not too concerned about future capital appreciation. Sure I’d love to sell it higher once we sell it but it’s so far out I don’t really even think about that aspect of the investment as a primary concern right now. So many difficulties with the USA right now..hard to say what will happen in the next 15 years.

Fortunately we are fairly well diversified including owning properties outside of the USA. So if the crap really hits the fan, we have residency status in other countries. Our kids hold 3 passports from 3 different countries including USA passports.

Ideally we want at least 3,500 sq. foot which will be really tough in LJ for our price range in the condition we want.

[earlyretirement]

HI BG,

Yeah, I figured that probably my screen name gave the wrong idea of my age..that’s why I mentioned it. I realize we’re not in the typical situation for our ages. Just lots of hard work over the years and a few successful companies (one of which I just sold to a larger multinational company).

Yeah, we will most likely stick around in the home we buy for 15+ years. We might have another child but that would be it. The property I listed in La Jolla is GORGEOUS and the style that I like. The materials look really great inside.

You’re right renovations are a pain! I’ve even done complete from scratch custom home builds for investors in the past and not sure how I survived! Ha ha. I always say, “never again”.

But properties like that in La Jolla I’m finding aren’t so easy to find and I really don’t want to go past our budget. I’m not as sure as you that the house in Muirlands will sell for within $100,000 of asking price. They just lowered the price it looks yesterday.

The extra yard space is nice but not a necessity for us. But I agree it’s GREAT that there aren’t any MR fees there. The schools are also great in La Jolla but it’s difficult to find a house that is renovated with the style we like for our budget in La Jolla.

I know that La Jolla will ALWAYS be desirable in the future so that part appeals to us.

I agree with you that even higher end areas like Santaluz can go downhill but I don’t see that as a high likelihood but I agree with you that La Jolla is a much more desirable area. Just an expensive area per sq. foot.

Again, I’m not too concerned about future capital appreciation. Sure I’d love to sell it higher once we sell it but it’s so far out I don’t really even think about that aspect of the investment as a primary concern right now. So many difficulties with the USA right now..hard to say what will happen in the next 15 years.

Fortunately we are fairly well diversified including owning properties outside of the USA. So if the crap really hits the fan, we have residency status in other countries. Our kids hold 3 passports from 3 different countries including USA passports.

Ideally we want at least 3,500 sq. foot which will be really tough in LJ for our price range in the condition we want.

[earlyretirement]

HI BG,

Yeah, I figured that probably my screen name gave the wrong idea of my age..that’s why I mentioned it. I realize we’re not in the typical situation for our ages. Just lots of hard work over the years and a few successful companies (one of which I just sold to a larger multinational company).

Yeah, we will most likely stick around in the home we buy for 15+ years. We might have another child but that would be it. The property I listed in La Jolla is GORGEOUS and the style that I like. The materials look really great inside.

You’re right renovations are a pain! I’ve even done complete from scratch custom home builds for investors in the past and not sure how I survived! Ha ha. I always say, “never again”.

But properties like that in La Jolla I’m finding aren’t so easy to find and I really don’t want to go past our budget. I’m not as sure as you that the house in Muirlands will sell for within $100,000 of asking price. They just lowered the price it looks yesterday.

The extra yard space is nice but not a necessity for us. But I agree it’s GREAT that there aren’t any MR fees there. The schools are also great in La Jolla but it’s difficult to find a house that is renovated with the style we like for our budget in La Jolla.

I know that La Jolla will ALWAYS be desirable in the future so that part appeals to us.

I agree with you that even higher end areas like Santaluz can go downhill but I don’t see that as a high likelihood but I agree with you that La Jolla is a much more desirable area. Just an expensive area per sq. foot.

Again, I’m not too concerned about future capital appreciation. Sure I’d love to sell it higher once we sell it but it’s so far out I don’t really even think about that aspect of the investment as a primary concern right now. So many difficulties with the USA right now..hard to say what will happen in the next 15 years.

Fortunately we are fairly well diversified including owning properties outside of the USA. So if the crap really hits the fan, we have residency status in other countries. Our kids hold 3 passports from 3 different countries including USA passports.

Ideally we want at least 3,500 sq. foot which will be really tough in LJ for our price range in the condition we want.

[earlyretirement]

HI BG,

Yeah, I figured that probably my screen name gave the wrong idea of my age..that’s why I mentioned it. I realize we’re not in the typical situation for our ages. Just lots of hard work over the years and a few successful companies (one of which I just sold to a larger multinational company).

Yeah, we will most likely stick around in the home we buy for 15+ years. We might have another child but that would be it. The property I listed in La Jolla is GORGEOUS and the style that I like. The materials look really great inside.

You’re right renovations are a pain! I’ve even done complete from scratch custom home builds for investors in the past and not sure how I survived! Ha ha. I always say, “never again”.

But properties like that in La Jolla I’m finding aren’t so easy to find and I really don’t want to go past our budget. I’m not as sure as you that the house in Muirlands will sell for within $100,000 of asking price. They just lowered the price it looks yesterday.

The extra yard space is nice but not a necessity for us. But I agree it’s GREAT that there aren’t any MR fees there. The schools are also great in La Jolla but it’s difficult to find a house that is renovated with the style we like for our budget in La Jolla.

I know that La Jolla will ALWAYS be desirable in the future so that part appeals to us.

I agree with you that even higher end areas like Santaluz can go downhill but I don’t see that as a high likelihood but I agree with you that La Jolla is a much more desirable area. Just an expensive area per sq. foot.

Again, I’m not too concerned about future capital appreciation. Sure I’d love to sell it higher once we sell it but it’s so far out I don’t really even think about that aspect of the investment as a primary concern right now. So many difficulties with the USA right now..hard to say what will happen in the next 15 years.

Fortunately we are fairly well diversified including owning properties outside of the USA. So if the crap really hits the fan, we have residency status in other countries. Our kids hold 3 passports from 3 different countries including USA passports.

Ideally we want at least 3,500 sq. foot which will be really tough in LJ for our price range in the condition we want.

[Author]

Posts