[Andrew32]

The two listed homes in my 92011 neighborhood are sitting for a couple weeks now. The prior four home sales here in the last 6 months all went fast, within a week.

[Andrew32]

Anecdotal of course, but in my new construction community in 92011 around 75 of the 123 homes are built. We’ve gotten to know at least 20+ owners, I would say 50% of them relocated from out of town. On my block alone, we have SF, DC, and Denver. There’s also LA, Minnesota, goes on and on.

Could be skewed if out-of-towners overwhelming buy new construction, especially when it was sold from the priority list, which makes the purchase process easier from afar in my opinion.

[Andrew32]

The company I work for now is 5 former QC engineers. Different markets, different projects than what they did at QC. But they did it as a side-hustle for 1-2 years before taking the leap.

Been a long haul but I bet they have enough equity remaining among them each to 5-10x a 40 year QC career when they exit. And they’ll do it in 25% of that timeframe. Not for the faint of heart and high probability of failure, but when it works, it’s impressive. And in most cases, that job is still there if it fails.

[Andrew32]

Road impact hasn’t been bad at all. It was nicer before it opened but we knew what was coming. We’ll see how busy it gets once everyone starts going back to the office and everyone in Bressi Ranch realizes it’s now their fastest way to the 5 south.

[Andrew32]

40% seems reachable at this pace. Our small new development community in 92011 switched from priority list to competitive bidding and I can tell you that bids (not even winning ones) for our floor plan are coming in 15%+ higher now than what we paid in December when we purchased at a set price.

[Andrew32]

Thanks for the recommendations.

We are required to submit plans within 6 months so we can not wait a year, unfortunately.

The shape, orientation, and site lines of our indoor-outdoor space are super important and we want to work with someone that understands that and can make intelligent recommendations.

I will make sure to push anyone on those aspects and make sure each space ends up the way we want.

[Andrew32]

No view but a friend’s 1-story Encinitas home just went for above asking.

https://www.zillow.com/homedetails/1080-Balour-Dr-Encinitas-CA-92024/16720405_zpid/?

2 years and +$300k with no $ put into the home. It was purchased renovated as a flip (check the 2018 sale price).

[Andrew32]

We bought last month in 92011 and felt lucky to have had the opportunity to buy new construction and not battle other people for a resale (which we were eyeing but saw nothing we liked much, regardless of price).

We feel good about our purchase and while there was some compromise on the lot size, the house meets our needs long term and has an attached guest suite with a full kitchen and separate address we will use right away for our nanny, then in-laws, then potentially income-generating.

We agree with your assessment of the area and our goal right now is to keep the home as a dual rental property if we ever choose to buy another primary home.

[Andrew32]

profhoff – are looking to purchase to live or as an investment property?

I’ve been eyeing 92011 to buy in the next few months (currently renting in PQ) and one concern that is keeping me from seriously considering coastal neighborhoods like Waters End is the # of a vacation rentals I see on Airbnb/VBRO. Right now, there are 5+ in Waters End alone.

for me at least, i feel like that will take away from the community aspect of buying into a neighborhood (presumably for good schools + families).

[Andrew32]

Re: buy during high interest rates

That’s obviously true from a theory standpoint but who would wait around for 2012-2015 to come around again when prices (and rates were relatively low) for either an investment or Owner/occupy property. It likely won’t for a long time.

I think it’s pretty rare, and great that people that bought in that timeframe currently benefit from the doubling home prices in 8 years (not common) and refinancing into super low rates. I know several people in the Del Sur and other communities that bought new, and will be upgrading to more coastal/land/sqaure footage only because of this fortunate timing.

[Andrew32]

It was a 4/3 two story in Encinitas but came in more affordable bc it had a zero lot line on one side. Lots of privacy still and the previous owner was a G&E executive so the appliances and kitchen was unreal.

Thanks for the timeline advice. We’re currently looking at 92011 and 921009.

Thoughts on the upcoming Treviso phases at the end of Poinsettia? There is a 5/4 “next gen” floorplan that are all perimeter lots and the HOA/MR feels priced into the sticker price fairly.

[Andrew32]

Appreciate the ongoing info Sdrealtor. We’re looking at S. Carlsbad for early 2021. Currently renting in PQ to test the area before buying and want a neighborhood that has more younger families and closer to the coast. In late 2017, we bid above asking in Encinitas and countered but the owner took an all-cash, no inspection, no contingency offer from someone else at the same price. Felt defeating and so we are only now exploring going for it again. And as a result, that has pushed us a little further north than we were originally looking.

[Andrew32]

@sdduuuude – It would drive my wife crazy if the HOA was unreasonable and run by a tyrant. Her parents have a few unstable HOA board members in their community (not in SD). The landscapers are fired every six months and while visiting once, we watched this woman follow and bark orders at the landscapers the entire time around a 99-home community.

[Andrew32]

@flyer – It will be important for us to keep in mind the location/home we really want verse settling. Thanks.

[Andrew32]

Thanks for the input, @gzz. We hadn’t considered the floor plan differences of older/newer homes but that makes a lot of sense. We do want the in-laws out here in the next 3-4 years, but it’s unclear whether they would be with us or sell their home and we’d potentially help them buy something in an area more tailored to their lifestyle.

Our rental lease is up in January and we’re working with a financial planner now to figure timing out. Emotionally, we don’t want to rent for another year or two, and financial probably don’t need to, but it’s our first home purchase and feels like such a whale of a decision (because it is!).

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