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CoronitaParticipant[quote=FlyerInHi]For me, the fun of buying real estate is the fixing.
And the fun is the art of the deal. Buy something under maket and make it worth more. But that’s not to say now is a good time to buy in Carmel Valley.IMO, very few houses are move in ready. If they’ve been fixed, they’re been done up in stages and there’s no flow within home.
The most beautiful house that I have seen in person (other than in magazines) is at a country club in Vegas. The woman and her husband are set designers. I learned from them. It’s the flow and the energy that counts. You will never get that from a so called move in ready house.[/quote]
There is no good deal in Carmel valley right now. The best deal you can get is to not get ripped off completely.
CoronitaParticipantI think one of my friends that relocated to the east coast has a home across the canyon where Saratoga is. We were taking about some of the $600k+ attached townhomes that at the time was being built at the end of Carmel Mountain Road. He was laughing about it because he was saying. Gee, that condo is how much I paid for my 3000sqft SFH. He has a pretty nice house. Currently, he’s renting it to an executive of a tech company for around $4900/month. I think his 30 year mortgage is around $2200/month, lol.
CoronitaParticipant[quote=yuhtey]oh bear girl,
please provide your comments on the following listing:
https://www.redfin.com/CA/San-Diego/4915-Almondwood-Way-92130/home/4483114
a real CV stunner. if only my wife was in the film business i could afford a better place.[/quote]
HAHAHA $1.249m… I remember when I was buying, these places were going for $900-950k. And that was 1 year before the RE bubble. Those houses are right off I-56 and you can sometimes hear the noise…We passed on that and on homes in Palacio. Granted, we ended up buying another POS stucco box, but it certainly wasn’t anywhere near 1.3… Ouch…That’s not even Ocean Air or Sage Cage schools… I forget which school that is.
There’s roughly a $200-300k premium to be in the Carmel Country Highland area…That includes Carriage Run (which I know is not good enough for you), Saratoga (I remember when these were new construction around $950…We passed on those…Big mistake), Derby Hills (missed that one too, shucks), and Bridge Ridge…
There’s also the ones that are older like Lexington, Breakers (interesting styling), and if you want to be closer to Vons: Monticito with I think gives you a choice between Ocean Air and Sage canyon (my RE agent friend use to live in that division). And you have the division on the backside facing Saratoga (I forget the name of that, but that gives you access to Sage Canyon too)
You have a couple of homes in Torrey Hills (Sea Country, and La Strata, which gives you access to Torrey Hills E, which is a decent school plus the new preschool is there, making it really convenient if you plan on doing preschool->6th grade)….
Oh, there’s a large “luxury” townhome complex being built at the end of camel mountain road. It’s suppose to be a luxury 3000sqft “townhome”.
But if that doesn’t suit your need, go buy in Alta Del Mar…It’s only $2million… You earned it, you deserve it. And by golly…It’s dog gone good for you.
I’m really sorry you are buying right now. Wow… maybe I should put my home on the market. If I had only bought another one during the downturn.
CoronitaParticipant[quote=yuhtey]oh bear girl,
please provide your comments on the following listing:
https://www.redfin.com/CA/San-Diego/4915-Almondwood-Way-92130/home/4483114
a real CV stunner. if only my wife was in the film business i could afford a better place.[/quote]
Actually, now that I looked at the sales history, i see this particular house was sold on 2005 for $950k, so my guessimate was off.. 2005 was close to peak prices during that time (some places in CarmelV reached peak prices in 2006/7), but homes off of Almondwood peaked around 2005…. I think there were a couple of them that we looked at that were in the high $800k …..
Granted, I believe the buyer upgraded the interior because none of the original homes I think had this sort of interior. So that’s probably worth considerable money for some buyers who don’t want to upgrade themselves…CoronitaParticipant[quote=zk]I’ve never owned a business, but I’ll tell you about two good friends who have.
Xboxboy’s advice all seems very solid, and the part about “sexy” applies to the first example. A friend bought a business that bought waste grease from restaurants and sold some of it to…I don’t know, whoever uses used grease. Very unsexy. Disclaimer, he was doing ok before this, and he might’ve paid a lot for the business, but a couple years after he bought it, he moved from Carmel Valley to Rancho Santa Fe, so it was working out for him.
Another friend started a restaurant. We’ve all read that most restaurants fail within X amount of time. I’ve read that that’s usually because the owner gets tired of working hard 100 hours a week. My friend worked those 100-hour weeks for about 5 years. He had previously managed a successful restaurant for years, and he had also owned several pizza joints, so he had lots of knowledge. He started his own restaurant, and he worked, and worked hard, all day every day for about 5 years. He wasn’t making any money at all. He had to borrow money from his brother (a partner in the restaurant) just to pay his bills. Finally, he gave up. This guy was an extremely hard worker, and he had lots of knowledge. But he couldn’t make it work. He wasted 5 years of his life and a significant chunk of his life savings on that restaurant and got nothing out of it.[/quote]
I am guessing the used grease is to make biodiesel
CoronitaParticipantIf you don’t mind, what sort of business are you thinking about?
Sorry to hear about being laid off. But often times, it ends up leading to something even better in the future.
December 5, 2015 at 5:56 PM in reply to: Who is responsible for what in detached condominiums? #792087CoronitaParticipantOP just go get your HOA documents. The HOA documents will spell out the terms for you than any “expert” here who thinks all condos follow all the same rules. No one knows the intricate details of the specifics of your condo and HOA rules, and it would be foolish for you to listen to anyone’s advice who doesn’t know your specific condo and your specific HOA’s rule. While in escrow, part of the responsibility of the seller is to provide you with those CCR’s. You might need to pay a fee for them, but you definitely should get them and review them.
CoronitaParticipantvote for me, vote for me!!!!
December 5, 2015 at 5:31 PM in reply to: Who is responsible for what in detached condominiums? #792079CoronitaParticipantThis should be explained in the hoa’s ccr’s. You should be able to request a copy of them during your contingency period.
Have you looked there?
CoronitaParticipant.
CoronitaParticipant[quote=njtosd][quote=flyer]Interestingly, we don’t know any bitter people in CV. Many of them purchased their homes years ago and have either stayed or easily moved up to something bigger and better in the area or elsewhere.
More recently, a few friends and family purchased homes around San Diego, including CV, during the last downturn a few years ago, and are very glad they got in on that window of opportunity. We still have several rental properties there, and are very happy with the arrangement, so I’m just not seeing the bitterness in any way, shape or form.[/quote]
It’s a perception bias. People want to believe that those who they see as affluent are sad/bitter/superficial. They only real stereotype that I see is that a lot of the people in CV are a little anxiety ridden – which led them to work hard in school and at their jobs and earn enough money to pay for a higher than average priced house. One of my daughter’s friends makes herself do 50 push-ups if she gets a low A on an assignment. It’s a bit worrisome.[/quote]
I hadn’t thought about that. I ask my kid to do a few jumping jacks when shes dozing off or in dreamland and needs to wake up to finish her work. I don’t think I can do 50 pushups (yet)
CoronitaParticipant[quote=yuhtey][quote=flu]
And like I said. Have fun renting. There’s nothing wrong with it. If you really don’t know where you want to live.[/quote]
ok, have fun in your 90’s (or maybe even 80’s) tract home. do you have white tiles on your bathroom counters? i love that stuff.[/quote]
Actually, my tiles are green in Carmel valley. They are linoleum in the bay area. So for me, tile is a huge upgrade!!!!! Plus i didnt spend anywhere near $1.3m. My wallets thank me… And because i didnt spend so much on my primary, i have a lot more things here that generate passive income instead of a primary home just sitting there as a liability. And most likely next month, the primary will be free and clear. So I will enjoy that nice extra $2600/month that I no longer need to pitch to a 15year along with the rest of my passive income. Not to me to mention the entire equity and my ass is now mine and not the banks. .muhahaahahahaha…
For me, a primary home is a place to live, with a decent school district, so my kid can grow up in an environment with other kids from also good families. As long as it doesn’t fall down, I don’t “need” to spend money on huge upgrades, especially with a little one breaking things and dropping things. I think I’ve put off repairing my bslcony for 4years now, despite me recommending my handyman to like 4 neighbors who have all done their upgrades. My tenants see more upgrades than I do. And thats OK because I don’t care. Just like some people don’t care about the cars they drive.
So far I havent met too many people that are pretentious, people who are considerably more wealthy than me who either own dental or doctor practices or is an exec at a company or a partner at a law firm. Maybe you are just hanging out in the wrong crowd or trying to be someone you aren’t.
So again, if you want something that is really nice, pay up. Because that’s the current market rate.
Or you could wait. Maybe you can get lucky. If your planning to pay cash, which it sounds like you are, you can probably wait for rates to rise. When rates rise, the weaker buyers that need to take out loans will drop off, at least in theory. So long as you aren’t the one that’s going to be mortgaging to death, a slight rise in rated probably won’t affect you as much as those that have a smaller down. I think most people in Carmel v out at least 50% down for a sfh. I don’t think many just do 20% because that gets into jumbo loan territory versus conforming plus.
Also some think that with Qualcomm laying off so many people, that will impact housing supply. I don’t personally think so because old Qualcomm employees probably already vested and have their homes paid, while new Qualcomm employees don’t have enough stock and options to play in this submarket to begin with. But who knows.
Good luck!CoronitaParticipant[quote=yuhtey][quote=flu][quote=yuhtey]flu, you’re main issue is that you are equating CV to a porcshe GT4[/quote]
Your issue is you can’t accept the fact that pricing in Carmel valley for a good home is pretty close to a gt4. Anyway, have fun renting.[/quote]
renting has been very good to us, after we sold our last property while we have been gauging neighborhoods. it has provided an excellent window into life in CV without the commitment – and it gives us an edge over other buyers who are contingent on selling their own property prior to closing escrow.[/quote]
And like I said. Have fun renting. There’s nothing wrong with it. If you really don’t know where you want to live.
CoronitaParticipant[quote=ltsdd]Every time I hear the word “Porsche”, this video comes to mind. Man vs boys
https://www.youtube.com/watch?v=ChZ_GvP_fkQ%5B/quote%5D
Anyone who brings a Porsche to drag strip out to be shot. Porsche’s aren’t meant for drag strips. If you want to do the fastest quarter mile, get American muscle. Cheap straight line power.
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