Forum Replies Created
-
AuthorPosts
-
an
Participant[quote=sdrealtor]Yup change takes time and builders are slow to move. It took them a couple decades to dismiss the formal living room despite calls for that in focus groups long before they did. The point is, the modern look is not inferior in the eyes of currrent buyers on the whole[/quote]
100% agree that it’s not inferior. It’s just different. Like clothing, design I feel like goes in cycle. Modern was popular about 70 years ago and now it’s back. Just not exactly the same. I love the new interior layout of minimizing hallways. It makes the house feel much bigger.I also love the 10′ ceilings in the Toll houses vs the typical 9′ that the cheaper builders have. That extra feet makes a huge difference.
Participant[quote=sdrealtor]Toll shifted away from traditional Spanish/Tuscan in RR but that was a few years ago and planned years earlier than it was built. Inside very modern and no more tuscan. The shift is on[/quote]Agree that the shift is definitely happening. Looking at Toll’s offering in OC, all their smaller homes are modern and most of the larger home in the exterior are not quite modern and still have traditional roof lines. Their interior is definitely much more open and modern than the outside.
Participant[quote=sdrealtor]Actually that Tuscan /spanish/mediterranean look has been on its way out for more than five years. They don’t build much of that anywhere anymore. Houses with that interior have been viewed as fixer uppers for several years up here[/quote]
I don’t know if it’s on its way out for all target audience. I was looking at Toll Brother’s in Robertson Ranch in Carlsbad as well as their development in Pacific Highland Ranch and they’re both Tuscan /Spanish/Mediterranean style. All the while, houses across the way from TriPoint Homes (formerly Pardee) were all modern. So, I wonder if the cheaper builders are going modern because their target clientele are younger?I personally don’t like the modern exterior look but I like the more transitional (somewhat modern) interior with open concept. I think Toll Brothers homes strike a good balance for me.
Participant[quote=gzz]AN: I tried again, current balance 260k and cashing out 200, and I got 1.875% with no points/fees.
Popping it up to 250k out showed the same offer, plus one with a lower APR (1.75% + fees that bring it to 1.80%).
If I grabbed the no-fee 250k cash out offer, the interest on my cash out would be $4687.50 the first year and the EVM tax free Cal muni would pay $10,600, resulting in an after-tax gain of $5912.
It seems that the very best rate is with a 285k cashout, which has a 1.875 rate with $700 lender credit. Going a tiny bit higher to 290 causes the rate to go up to 2.25%, so there seems to be some threshold balance of around $545k that greatly increases the rate.[/quote]
Weird, I just ran it again on Zillow with property value of $1m, current balance of $260k, $200k cash-out, SFR primary residence with 15 years fixed and no point/fees and lowest I see is 1.99%. I guess rate must have gone up today.The current conforming loan limit is $548,250. So, as long as your new loan amount is less than that, you get the best rate.
Participant[quote=flyer]My post was about our friends kids recently buying in CV vs MM, based upon their preferences. Good or bad, that was their choice. Others make other choices, which is probably great for them. We lived in CV many years ago, and still have rentals there, but haven’t lived there for quite awhile.[/quote]
This is the first time I’ve heard of anyone who cross shop CV w/ MM when school district is remotely on their radar.Participant[quote=gzz]As I recall MM had really high test scores even when it was a more downscale area.
The largest 3roots plan is 3,643 SF 5/4.5. So its high end overlaps with CV’s midrange, and is ~20 years newer.
On the other hand, the boxy modern look of the larger 3roots homes is inferior to the more traditional Spanish/French med look of your typical CV place.
The 3R plan that I like the best are the three floor SFH Citrine. Its modern boxy look just works better when it is taller.
https://www.live3roots.com/homes/citrine
If you’ve ever been to newer suburban areas of Amsterdam, Rotterdam and Paris, a lot of them have this look, though not as heavy with the stone trim.[/quote]
I personally like the Mediterranean/Spanish look more than the modern look. But the younger crowd do like the modern look more. So, I’m sure the builders have done their research based on their target audience and what they like. That might be one of the reasons why the level of interest is through the roof.Participant[quote=flyer]Good to hear all the feedback–really didn’t know much about it. Our friends kids made their choice in CV and those who choose MM will make theirs. Hope it works out for all of them.[/quote]
1st world problemParticipant[quote=ybitz]you know anything about the new construction in Mira Mesa, the 3 Roots development? Wonder how that’ll affect the existing Mira Mesa market.[/quote]
Mira Mesa is changing. 3Roots is the first of the many changes happening over the next 10-20 years. 3Roots will be fully built out over the next 5 years. Then Stone Creek, https://www.miramesatowncouncil.org/stone-creek/, immediately east of 3Roots will start. These 2 developments will change feel of MM. Then if you think even longer term, the city want to rezone MM to be a lot more dense, https://www.miramesatowncouncil.org/city-proposes-high-density-housing-in-mira-mesa/, so 30 years from now, I’m betting that MM will be a much different place.As you bring in more people who are buying $1-1.5m houses, school’s test scores will change as well.
Participant[quote=flyer]Some friends inquired for their kids, and found the developments will, most likely, not be in their desired school districts, so they bought in CV. Don’t know if that will become an issue for potential buyers in those MM developments, but for those who want specific school districts for their kids, as many do, it might.[/quote]
Don’t tell that to the 14,000 families who want to be on the list for 1800 homes. I know many who can’t even get on the list.Lennar is going with “bidding war” sale, so have fun trying to be the winning bid. CalWest and Shea chose to do first come first serve for their first phase but it won’t surprise me if they’ll follow Lennar’s lead and do bidding war for the following phases.
ParticipantGas station can’t stay in business selling gas. They make their money from the stuff they sell inside. It’ll probably more beneficial for you to just donate the money you would have spent on the failed business idea to your favorite environmental cause charity.
ParticipantJust reran on zillow (15 years SFR primary, no cost) and assuming $1m property with current balance of 200k and cashing out 250k, current rate I see is 1.99%. If I change current balance to be 500k, rate goes to 2.25%. The only way I can get 1.875% is to do no cash out and have LTV @ 50%.
Similar parameter but with 30 years and we’re looking at ~ 0.625% higher. So, 50% LTV with no cash-out is 2.5%.
I refi in February this year @ 2.5% in a 30 years fixed. So, rate is back to where it was earlier this year. I’m waiting for the 30 years to hit 2.25% to refi again.
ParticipantOoh, where can you get 1.8% for cash out refi 15 years fixed? The lowest I can see on zillow is 2.875%.
Participant[quote=gzz]Here’s a MM 5/2 (only 3/1 permitted) that sold for $269k in 2009:
https://www.zillow.com/homes/7916-Peach-Point-Ave-San-Diego,-CA-92126_rb/16786665_zpid/%5B/quote%5D
Imagine if you have the income/asset to qualify to buy 10 at this price and put down 20% each. Down payment would have been ~$540k. Today, that house would sell for ~$750k today, so that’s a gain of ~$4.5m w/in 13 years.I think RE is the only investment vehicle where you’re only required to put in 5-20% and borrow the rest. Also, you and the house want the same thing.
ParticipantIf only I can go back in time. That house would have sold for around $250-275k in 2009-2010. I’d by 4 of those.
-
AuthorPosts
