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matt
ParticipantThis is an interesting transaction history. What’s going on here sdrealtor?
ParticipantMy LCO rental property zillow estimate is down 9.8 percent (232k) in the last 30 days. yikes :)!
Participant3.325M in LCV is still a major head scratcher for me.
ParticipantLCV is a great community with relatively lower HOA fees and a great community center but older and generally smaller homes / lots vs LCO and similar.
Perhaps there are 1-2 pending that continue to hit this range but my sense remains that 3m in LCV in the current macro-economic environment is the peak of this cycle.
I am one of those that picked up a LCO property at 900 at the bottom. My current target is to downsize but would prefer to be in a smaller home west of the 5 than a few meters closer to Camino Real.
Participant3m in LCV is certainly hard to fathom. I don’t see that happening again in at least the next 2 years.
ParticipantI agree – probably wishful thinking. Properties do seem to be sitting a lot longer in the Encinitas downtown area though.
ParticipantAt the time I bought this for $800k in San Jose Del Cabo and put another $250k in to renovate and build out the terraced gardens below the pool. Prices and bookings have been on fire but I sense that is also coming to an end due to ticket prices, the economy, and the disastrous Airbnb summer release.
I share the listing not to promote it but to give you a sense of what is / was possible south of the border.
ParticipantDo you think we will ever see shacks west of 5 but east of Vulcan (Encinitas highlands area) with those larger lots back in the 1.5m range? There were few 3-4 years ago in the 1.25-5 range and I always regretted not picking one up.
ParticipantDo you think we will ever see shacks west of 5 but east of Vulcan (Encinitas highlands area) with those larger lots back in the 1.5m range? There were few 3-4 years ago in the 1.25-5 range and I always regretted not picking one up.
ParticipantIt’s true that anyone sitting on a 2.5% mortgage is going to very reluctantly sell, particularly in beautiful San Diego – a market that is renowned for being impossible to get back into once you leave.
Investors that have ridden the capital appreciation wave may decide to cash in at this point of the cycle. The yields will not be there for any recent buyer.
Jobs will be key as well as the stock market and crypto (huge losses). If you purchased or HELOCed anticipating major RSU income you could be in trouble. If you are in a venture capital or growth start up that isn’t making money you could be in trouble. Fiscally responsible folk with steady income and well financed homes should be just fine. Let’s see what happens with inventory as we head Into the fall.
ParticipantI respectfully submit to the forum that we have peaked and that the 2.8m and 3.1m properties in LCO near the power lines on Lima represent the peak of this cycle. Who agrees with me?
ParticipantYep – he’s definitely in the 3m club. When I bought in 2010 I tried hard to close on a view home in the community but just couldn’t get one of those short sales to close. Ended up buying on Lima for 900k. Has been rented since.
ParticipantThis house has no views (below the main La costa oaks hill) and most of the lot is the back slope and not really usable. Power lines definitely visible and only about 5 houses away. 3.1M. Just saying.
ParticipantI own a rental on this street in La costa oaks. At the end of the street are power lines. Yet this one sold for 3.1m (700k over asking). Insane.
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