[irondoc]

Thanks all for the suggestions…we will look into these.

[irondoc]

If you look closer at that linked image, you’ll see that one small piece of wall was left in place – classic for a “rebuild renovation”. Must have lost their financing?

[irondoc]

I agree that this could go in the low 900’s, perhaps even as high as $950k. With that landscaping in the backyard, the owners might have put at most $50k into the property. Thinking that they can recover their $925k investment plus a 14% return over 2 years in this market is crazy.

-iron

[irondoc]

Here’s some wacky advice, but well worth it in my mind. Two years ago my wife and I bought a house that is on a hill several blocks North of the 56 in Carmel Valley. My wife was paranoid about freeway noise, and we went back to the house several times during the day, and it was within my wife’s tolerable limits. This was in mid-October. After we moved in, we discovered that the worst noise is at night, when it is cold and the noise travels farther. Especially at this time of the year. Even though the traffic is lighter at night, the noise given off is greater. Visit the neighborhood of the house sometime around 11pm, park on the street near the house in question, turn off your engine. Roll down your windows or better yet get out. That will give you a sense of how bad it can get.

[irondoc]

Here’s some wacky advice, but well worth it in my mind. Two years ago my wife and I bought a house that is on a hill several blocks North of the 56 in Carmel Valley. My wife was paranoid about freeway noise, and we went back to the house several times during the day, and it was within my wife’s tolerable limits. This was in mid-October. After we moved in, we discovered that the worst noise is at night, when it is cold and the noise travels farther. Especially at this time of the year. Even though the traffic is lighter at night, the noise given off is greater. Visit the neighborhood of the house sometime around 11pm, park on the street near the house in question, turn off your engine. Roll down your windows or better yet get out. That will give you a sense of how bad it can get.

[irondoc]

Here’s some wacky advice, but well worth it in my mind. Two years ago my wife and I bought a house that is on a hill several blocks North of the 56 in Carmel Valley. My wife was paranoid about freeway noise, and we went back to the house several times during the day, and it was within my wife’s tolerable limits. This was in mid-October. After we moved in, we discovered that the worst noise is at night, when it is cold and the noise travels farther. Especially at this time of the year. Even though the traffic is lighter at night, the noise given off is greater. Visit the neighborhood of the house sometime around 11pm, park on the street near the house in question, turn off your engine. Roll down your windows or better yet get out. That will give you a sense of how bad it can get.

[irondoc]

Here’s some wacky advice, but well worth it in my mind. Two years ago my wife and I bought a house that is on a hill several blocks North of the 56 in Carmel Valley. My wife was paranoid about freeway noise, and we went back to the house several times during the day, and it was within my wife’s tolerable limits. This was in mid-October. After we moved in, we discovered that the worst noise is at night, when it is cold and the noise travels farther. Especially at this time of the year. Even though the traffic is lighter at night, the noise given off is greater. Visit the neighborhood of the house sometime around 11pm, park on the street near the house in question, turn off your engine. Roll down your windows or better yet get out. That will give you a sense of how bad it can get.

[irondoc]

Here’s some wacky advice, but well worth it in my mind. Two years ago my wife and I bought a house that is on a hill several blocks North of the 56 in Carmel Valley. My wife was paranoid about freeway noise, and we went back to the house several times during the day, and it was within my wife’s tolerable limits. This was in mid-October. After we moved in, we discovered that the worst noise is at night, when it is cold and the noise travels farther. Especially at this time of the year. Even though the traffic is lighter at night, the noise given off is greater. Visit the neighborhood of the house sometime around 11pm, park on the street near the house in question, turn off your engine. Roll down your windows or better yet get out. That will give you a sense of how bad it can get.

[irondoc]

Pacific Highlands Ranch is Del Mar Union. All of it.

[irondoc]

Pacific Highlands Ranch is Del Mar Union. All of it.

[irondoc]

Pacific Highlands Ranch is Del Mar Union. All of it.

[irondoc]

Pacific Highlands Ranch is Del Mar Union. All of it.

[irondoc]

Pacific Highlands Ranch is Del Mar Union. All of it.

[irondoc]

In retrospect, we stretched a bit, but not by much. At the time of our purchase, our household net income was ~$14k/month. Our monthly mortgage obligation is $4600/month. So at the time of our purchase, we were paying about 33% of our post-tax income. My wife had the higher salary, so we are now at ~$6200 month income. Obviously, not a sustainable situation. I anticipate the value of our house has dropped another 10% since we purchased.

I don’t expect anyone to cry for us, but just wanted to make the point that not everyone has “greed” reasons for wanting home values to rise.

[irondoc]

In retrospect, we stretched a bit, but not by much. At the time of our purchase, our household net income was ~$14k/month. Our monthly mortgage obligation is $4600/month. So at the time of our purchase, we were paying about 33% of our post-tax income. My wife had the higher salary, so we are now at ~$6200 month income. Obviously, not a sustainable situation. I anticipate the value of our house has dropped another 10% since we purchased.

I don’t expect anyone to cry for us, but just wanted to make the point that not everyone has “greed” reasons for wanting home values to rise.

[Author]

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