[earlyretirement]

Yes, we already checked and there isn’t one. Plus we will most likely go ahead and change out the shower head for a different style.

We really prefer something super strong pressure.

[earlyretirement]

Looks like a nice house. We looked at several in Pacific Highlands Ranch last year. There are some nice upgraded houses there but the biggest problem we found was the high density and lack of privacy.

However, at least these on this street don’t have anyone behind them. Some of the ones we saw had 5 neighbors that all could easily peer into your back yard.

I agree CV is conveniently located but I just couldn’t see spending $1 million + for something in that neighborhood. I found the HOA fees rather low compared to some areas but it looks like these have the Mello Roos taxes.

I thought I remembered seeing some in Pacific Highlands Ranch with no Mello Roos…was I wrong?

At the prices it closed for seems to be a fairly good deal.

[earlyretirement]

Just out of curiosity, can’t you just delay the closing a few weeks and close after the holidays? And then have them move out?

Even if you made some penalty clause, I guess theoretically they could overstay their agreed upon move out date.

We bought a house earlier this year and we allowed the previous owner to stay in the house several months and did a leaseback after the closing for 4 months.

I wasn’t worried about them overstaying the agreed upon time. Originally it was just going to be 2 months but I wasn’t in any hurry and put in a maximum of 4 months and made the rental payments higher for months 3 and 4.

It wasn’t a short sale and the previous owners were very nice and also the original owners of the house and it was in immaculate condition so we weren’t worried.

However, I will say I wish I put in stricter language about them taking care of the landscaping. I only put they were responsible for paying the landscaper but it was clear after taking possession they stopped having the landscape company come after the closing.

It looked fabulous when we did the final walk through but by the time we moved in there were many weeds, some plants were dying and the lawn in the backyard was very long.

I’ve done many property sales where I allowed the previous tenants to stay in the property for a limited time but I probably wouldn’t do it again. None of them were in San Diego. They were in other places.

I only had a problem one time but I had to hire a lawyer and it was a hassle so I wouldn’t do it again. I’d say if you can just delay closing a few weeks that would be the best thing if it won’t jeopardize the deal.

Any one can speculate what MIGHT happen but you just never know. Especially considering it’s a short sale and these people may be having financial problems and their credit is probably shot already.

[earlyretirement]

Actually ltsdd. The house that sold for $888,000 indeed is part of Santaluz. I know that Santa Monica isn’t within the gates of Santaluz (although realtors will try to argue that it’s part of Santaluz). Don’t forget about Lazanja Pass (you go under that bridge) that connects the other side and it indeed is within the gates of Santaluz.

And I do agree that homes really start out in the $1 million range. But we visited several homes on the other side and I still would rather own West of Camino del Sur vs. other areas like Carmel Valley at the $1 million range in areas like Pacific Highland Ranch.

Some realtors tried telling us that “Santaluz” consists of the neighborhoods of (1) within the gates of Santaluz; (2) Santa Monica; (3) Marisol; and (4) Verrazano. But the simple fact that only the members that live “within the gates” can buy into the Santaluz Hacienda Club (www.santaluz.com) to me shows that only those living within the gates live in “Santaluz”. JMHO.

Although I’ll say that we saw some beautiful homes in Verrazano but we just couldn’t find anything big enough for us. But I would much rather buy there vs. 4S Ranch or Carmel Valley as well.

For example, we saw several houses like this in Carmel Valley.

http://www.redfin.com/CA/San-Diego/5842-Aster-Meadows-Pl-92130/home/7515078

You can see they never were able to move it and took it off the market. Just look at a Google Map of the area and all the houses packed in.

There was a LOT of junk on the market earlier this year for sale. But there really wasn’t much inventory that I’d consider GREAT in great condition and truly move in ready. Most needed some type of renovations.

But all the properties that were in great condition and priced fairly all sold and aren’t on the market. There were several owners (especially in Carmel Valley) that were truly dreaming and their houses sit on the market forever or they took them off.

We kind of laughed after a while at some of the owners that had their homes for sale for literally years and years. It’s like they do NOT want to face reality.

We didn’t consider this one but there are many examples like this out there in Carmel Valley. Take a look at the sales activity and listing activity on them. Some for sale 3.5 or 4 years.

http://www.zillow.com/homedetails/13483-Ginger-Glen-Rd-San-Diego-CA-92130/69020328_zpid/

[earlyretirement]

Hey Captcha,

Thanks for posting those. They do look like nice houses. No doubt I’m sure 4S Ranch has some nicer areas. I’m certainly NO expert on it. I’m just going by some that we saw which was some of the newer communities.

I’m sure the older homes there are better quality construction than the newer stuff being built.

I do agree with you there is a big price difference which seems to separate the buyers in these areas.

As mentioned before on this and other sites…once you go past $750’s you seem to go into a different profile of buyer.

[earlyretirement]

[quote=captcha]Earlyretirement, can you post a listing in Santaluz that you are talking about? I see only three under $1MM (one at $999K). The most affordable one is 2,327sf at $352/sf with $450/month HOA (Google Maps shows 4S-sized backyard). Earlier today someone posted about a $170/sf short sale in 4S with $85/month HOA. I see few 3,500-4,000sf houses for around $800K on lots similar in size to the Santaluz one. I don’t see the listing in your neighborhood that is really comparable in affordability to 4S.[/quote]

It’s been a while since I last looked at stuff for sale but this summer there were several listings. Maybe there aren’t as many now for sale but you get the gist. I’ll post a few below.

There may not be too much for sale now but I’m sure things come and go. Also, some sellers are still in la la land asking for prices they will never get. I’m sure eventually reality will set in with these people.

And again, I wasn’t trying to say Santaluz and this general area has the same affordability as 4S Ranch because it certainly doesn’t. I realize 4S Ranch is quite a bit cheaper.

It’s not even about size of the yard to me as it is quality of construction of the houses and general community.

This house we saw in Santaluz and it kept falling out of Escrow. It was a traditional sale. $888,000 which I thought was great value. You could have easily turned the upstairs area into a 5th bedroom if you wanted with an in-suite bathroom. So 5 bedrooms and 5 bathrooms.

As you can see it only closed a few short months ago in mid September.

My main point is would you rather own a beautiful house like this for $888,000 or some of the junk they have in 4S Ranch?? And it’s not even like someone could argue that this home was a short sale because it was a traditional sale.

http://www.redfin.com/CA/San-Diego/14653-Caminito-Lazanja-92127/home/6482922

——————

This one isn’t in Santaluz but at the Crosby. It went for $1.1 million which I thought was a great price. A short sale. Take a look at the sales history!

4,720 sq. foot with over half an acre….not bad to me….

http://www.redfin.com/CA/San-Diego/8282-Top-O-The-Morning-Way-92127/home/6481654

——————-

This one sold this summer at Santa Monica in Santaluz. Beautiful house with big yard…I just couldn’t get over the power lines at the back of the development.

http://www.redfin.com/CA/San-Diego/14640-La-Plata-92127/home/6583637

______________________________

This one sold in the Crosby earlier this year.

http://www.redfin.com/CA/San-Diego/8197-Lamour-Ln-92127/home/12152212

_______________________

Sold in Santa Monica a few short months ago:

http://www.redfin.com/CA/San-Diego/14627-Rio-Rancho-92127/home/6583647

____________________________

Sold at Santa Monica:

http://www.redfin.com/CA/San-Diego/7456-La-Mantanza-92127/home/6583783
_______________________

Sold at Mirasol this summer:

http://www.redfin.com/CA/San-Diego/14443-Rancho-Del-Prado-Trl-92127/home/6619896

__________________________

Sold in Santaluz a few months ago:

http://www.redfin.com/CA/San-Diego/14523-Caminito-Lazanja-92127/home/6482764

_____________________

For Sale in Santa Monica:

http://www.redfin.com/CA/San-Diego/14616-La-Plata-92127/home/6583628

___________________________

I’m by no means saying these are screaming deals. Only that if you are truly buying for the long term and not buying an investment property but a home where you plan to live the next many years….I think now is a decent time to buy.

The rental prices on true quality homes in nice school districts here are in demand and certainly not cheap. So compared to rental prices, ownership costs right now certainly make sense if you’re buying for the long term. Especially with these dirt cheap mortgage rates.

I know places like 4S Ranch have a totally different profile of buyer vs. areas like Santaluz. But I still think it makes sense to point out the vast differences in quality of construction and general quality of the community. Which I found really lacking at much of 4S Ranch. JMHO.

[earlyretirement]

Yes, Santaluz is 92127. Poway School District.

I don’t even need some huge yard. I just didn’t like the fact that almost all of the homes in 4S Ranch and especially Carmel Valley all sit on top of one another.

There are a few developments including Santaluz that were much better where your neighbor couldn’t easily see into your back yard unless they really made an effort. The developers did a really great job planning the community here.

All of the houses we saw in Carmel Valley were in zip code 92130. The schools there are good as well but it’s not like you’re right on the water. I can be in Carmel Valley in 5 minutes from my house. It’s only 1 exit down from my exit.

I do like the physical location of Carmel Valley being so close to Del Mar and being in close proximity of the city but could never justify spending a million bucks on a house with absolutely NO privacy like many in Pacific Highlands Ranch.

The nice thing there was that there was almost no Mello Roos taxes in much of Carmel Valley but like I mentioned…I don’t think anyone buying a million dollar + house will get broken spending an extra $6,000 or so a year on MR taxes.

People might make a stink about having to pay $450 a month in HOA fees at Santaluz but they forget it includes Cable and Internet (10 MB) service. And the Cable is a good package that also includes HBO and Showtime.

So really I think the HOA fees here are quite reasonable for all that you get here. They keep the grounds in impeccable shape, have 24/7 security including roving security guards that always seem to be driving around.

I’ve referred a few people to Santaluz and so far everyone has absolutely been blown away when they visit.

[earlyretirement]

Actually the price has really come down in Santaluz over the past several years. A million bucks buys you quite a bit more than it used to here. I’ve been watching the market here for a few years.

A million bucks or a little bit more can get you a 4,000 sq. foot house now…not just a 2,000 sq. ft. casita.

While I realize that you can’t compare 4S Ranch with Santaluz because there is a gap in the prices…. You still have to look at what you get relative to what you are paying.

I realize that many buying in 4S Ranch to begin with are really reaching to buy there. All I’m saying is I guess I’d probably just wait and save up more to buy in a better area if possible.

When we were looking this summer….I saw some totally mediocre houses in 4S Ranch for the $800’s. And in Carmel Valley houses literally piled on top of one another with 5 neighbors looking into your back yard (Pacific Highlands Ranch) were over $1 million.

I just will never understand the logic of spending a million bucks there in Carmel Valley with houses piled on top of one another vs. other areas.

Yes, I realize there aren’t Mello Roos in much of Carmel Valley but I would have thought that someone buying a $1 million house won’t get broken by an extra $6,000 a year in MR taxes….but I guess that’s not the case. People are really stretching here in many areas.

But a million bucks sure buys a heck of a lot more than it used to in this neck of the woods.

[earlyretirement]

[quote=UCGal][quote=bearishgurl][quote=ocrenter]4S and SEH is perfect for middle class families that put good schools on top of their list. $400-$600K range is what 4S/SEH homes should be at. Essentially, we are looking at folks that make around combined $125k range.

If you are in brackets over that, it isn’t your cup of tea.

The problem of course is the bubble pushed the prices beyond the $600k barrier even though the houses remained in that $400-$600k quality. Especially the north side where the houses are even more tightly packed in as the builders hurried to jam in homes as the bubble was ready to pop.[/quote]

ocrenter, is $400-$600K currently what the average listing price range is in 4S and SEH? And if a typical lot in this price range is only, say, 3800 sf, what size is the house, can a mid-size car fit in the driveway w/o hanging over the sidewalk and what would be its typical list price of today?[/quote]
To answer your question BG, I bolded the answer in OC’s comment.

The houses are NOT in that price range – they got pushed up by the bubble and didn’t return to what they should have.[/quote]

I agree that the houses SHOULD probably be in that price range but the problem is that they aren’t so it doesn’t really matter what we all think prices should be at.

The point is they still seem to be moving at those inflated prices. The market is based on supply and demand and there are still people willing to pay those kind of inflated prices for 4S Ranch it seems like. I sure can’t figure it out but I guess that doesn’t matter to Mr. Market.

If the builders can get $700’s and $800’s for that inferior quality then good for them I guess. I just couldn’t see shelling out that kind of money for that kind of house. But plenty of people seem to be willing to pay those kinds of prices.

[earlyretirement]

I totally agree and posted a few posts earlier this year. We were never interested in 4S Ranch but we drove around and looked at some houses when we were in the due diligence stage during our home search.

We wanted to see for comparison purposes what they have to offer in 4S Ranch. I couldn’t believe how cheaply built some of the newer houses being built there were.

I just didn’t get it either that people would pay $700k to $800’s to live in 4S Ranch. Yes, I know the school district is great there but I just didn’t see the appeal of people paying those kind of prices for that quality of home.

There is a huge dividing line from the $700’s on up and it seems like many people in 4S Ranch are really stretching or stretched to live there.

We ended up buying in Santaluz. It was more expensive at around $1 million vs. 4S Ranch but the quality was so much better, low density, homes were gorgeous, lot and grounds meticulously maintained, etc. Also, I like the fact that the HOA is so strict. People get letters saying to take down your Halloween decorations. Some things are super picky like you can only paint your garage/house one color but we enjoy living in Santaluz.

At those kinds of prices, I’d bite the bullet and buy in a nicer area but I just think it comes down to people really stretching to buy at those prices to begin with and won’t get qualified to spend more.

The kick in the pants is that most of 4S Ranch still has Mello Roos taxes just like other nicer areas so it’s not like you are saving money there. You still have the MR taxes in 4S Ranch.

I will never understand the appeal of people spending $800’s to buy in 4S Ranch.

The high density, zero lot lines are not just limited to 4S Ranch however. When we were looking at houses, we looked at several in Carmel Valley and it was very bad there as well and much more expensive per sq. foot. Neighborhoods like Pacific Highlands Ranch in Carmel Valley had some beautiful homes but the density was horrible! Some houses you had 5 homes directly looking into your back yard. (3 behind and 2 side houses) all looking directly on your zero lot line back yard. I couldn’t understand people paying $1 million for those houses either. But at least there wasn’t Mello Roos in many of the CV neighborhoods like 4S Ranch.

[earlyretirement]

Congratulations on your new home!

[earlyretirement]

Just a follow up post as the company just finished the job last week. I can’t recommend this company enough. VERY reputable and true professionals.

Jim was spot on target about the referral so thanks again Jim. I dealt with Ken there at Phillips Abbey Carpet and he was extremely great to work with.

Ken originally told me that the job would take about 2.5 weeks from start to finish. They finished the job in less than 1 week! He ended up putting 2 teams of workers on it so I had 4 workers each day. They showed up by 7:30 AM and stayed until late afternoon.

Extremely hard workers that barely even took a lunch break. The upstairs was 2,200 sq. feet plus the staircase is also fairly large and they did that too.

I ended up buying some carpet inlay as well as a few thousand dollars worth of custom made rugs with them as well. There quality control is very good. They noticed some irregularities on the rugs as they were getting bound and they sent them back. That was the only delay…so we’re looking forward to getting the custom carpets.

Definitely if you have ANY flooring needs (carpet, wood floors, etc) I’d highly recommend these guys and especially dealing with Ken there. And if you can, ask him to send Carlos and his team of workers. They were very efficient and quick.

Philip Rivers (SD Chargers QB) lives in my development and these guys did his hardwood flooring as well).

After they were finished with the installation I noted that the wood banisters and the sides to the staircase didn’t match the color of the hardwood floors so I decided to sand it down and get it totally stained.

I didn’t realize that was such a big job. Ken recommended another company that specialized in that. The guy he referred came out the same day I called him to give a quote. I hired him right away and he started 3 days later. They are working on it now and almost done. VERY professional group of guys.

The only footnote I’d mention is that Ken recommended me to a guy to do iron balusters on the staircase. I have to say I wouldn’t use this guy again. He has been extremely unresponsive and not good communicating. I can’t say for sure how that part of the job will turn out as he still hasn’t finished and now says that he can’t come out until November 28.

But all emails and phone calls typically took a week or more to get back to me which I find horrible when you own your own business. It was such a contrast to Ken and the other people he referred me to.

[earlyretirement]

Yep. Just the way it works. I kind of understand the rationale behind it. Imagine if everyone considering a property requested it. It would cause some extra work for them I guess.

But I guess they could just upload it to a DropBox account in PDF format and just give the link out so people could download it.

I tried getting the HOA and CC&R’s before I was buying but none would provide them before escrow. But I thought that was fair. Especially here in California where you get several days to pretty much back out for whatever reason.

[earlyretirement]

Just out of curiosity, how much was the ticket?

[earlyretirement]

I’m no Obama fan but the truth of the matter is that it wouldn’t have mattered if a Republican, Democrat or Independent was the President the past couple of years. Everything playing out now and the past few years were things set in motion already. VERY little of it could have been changed off it’s course.

I do think Obama could have done some things differently but he couldn’t really have changed the destiny of all the horrible things going on in the economy and the fallout from years of “sins” from Wall Street.

That’s just the plain truth.

[Author]

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