[ocrenter]

CAR, from the property tax site shows MR of around $3000/year, which translates to $250 per month.

finding a home without MR within 92009 is difficult, likely a lot older as well. you’ll probably be looking at at least $100k more in purchasing cost. that’s $85/month higher in property tax just because of the higher purchase cost. then you have the higher mortgage from the higher purchase cost as well. all to avoid MR and rumored remote possibility that the MR may be extended when the 30 year bond is complete.

all MR are not created equal. I don’t think in this case the MR should be the deal breaker.

[ocrenter]

CAR, from the property tax site shows MR of around $3000/year, which translates to $250 per month.

finding a home without MR within 92009 is difficult, likely a lot older as well. you’ll probably be looking at at least $100k more in purchasing cost. that’s $85/month higher in property tax just because of the higher purchase cost. then you have the higher mortgage from the higher purchase cost as well. all to avoid MR and rumored remote possibility that the MR may be extended when the 30 year bond is complete.

all MR are not created equal. I don’t think in this case the MR should be the deal breaker.

[ocrenter]

[quote=profhoff]Isn’t the City Ventures Leucadia Collection the development with the toxic soil issue?

SD City Beat article

Leucadia Blog post

Another Leucadia Blog post[/quote]

So this is the reason why the lots weren’t touched even back at the peak of the bubble. Afterall, very possible for a developer back in the days to have built 4000+ homes that would have gone for $1.5 mil easy. Wonder if city venture knew about the problems when they purchased.

[ocrenter]

[quote=profhoff]Isn’t the City Ventures Leucadia Collection the development with the toxic soil issue?

SD City Beat article

Leucadia Blog post

Another Leucadia Blog post[/quote]

So this is the reason why the lots weren’t touched even back at the peak of the bubble. Afterall, very possible for a developer back in the days to have built 4000+ homes that would have gone for $1.5 mil easy. Wonder if city venture knew about the problems when they purchased.

[ocrenter]

[quote=profhoff]Isn’t the City Ventures Leucadia Collection the development with the toxic soil issue?

SD City Beat article

Leucadia Blog post

Another Leucadia Blog post[/quote]

So this is the reason why the lots weren’t touched even back at the peak of the bubble. Afterall, very possible for a developer back in the days to have built 4000+ homes that would have gone for $1.5 mil easy. Wonder if city venture knew about the problems when they purchased.

[ocrenter]

[quote=profhoff]Isn’t the City Ventures Leucadia Collection the development with the toxic soil issue?

SD City Beat article

Leucadia Blog post

Another Leucadia Blog post[/quote]

So this is the reason why the lots weren’t touched even back at the peak of the bubble. Afterall, very possible for a developer back in the days to have built 4000+ homes that would have gone for $1.5 mil easy. Wonder if city venture knew about the problems when they purchased.

[ocrenter]

[quote=profhoff]Isn’t the City Ventures Leucadia Collection the development with the toxic soil issue?

SD City Beat article

Leucadia Blog post

Another Leucadia Blog post[/quote]

So this is the reason why the lots weren’t touched even back at the peak of the bubble. Afterall, very possible for a developer back in the days to have built 4000+ homes that would have gone for $1.5 mil easy. Wonder if city venture knew about the problems when they purchased.

[ocrenter]

Here’s the latest from City Ventures in Encinitas:

http://www.redfin.com/CA/Encinitas/Undisclosed-address-92024/home/17521490

http://www.cityventures.com/encinitas.php

At sales price of $4 million, the 19 lots each at ~9000 sqft average out to $210k. Looks like the average home will be around 3000 sqft. With them asking for low $900k and up, they should be making pretty decent profit with this set of homes.

interestingly, the property has been for sale since 2005, asking was $4.6 million, but looks like it was only approved for 3 homes per acre, that would translate to ~15 homes. that should have still penciled out quite well during the peak. wonder why no builder purchased it back in the days. per the listing they managed to change the zoning to 19 homes only recently.

[ocrenter]

Here’s the latest from City Ventures in Encinitas:

http://www.redfin.com/CA/Encinitas/Undisclosed-address-92024/home/17521490

http://www.cityventures.com/encinitas.php

At sales price of $4 million, the 19 lots each at ~9000 sqft average out to $210k. Looks like the average home will be around 3000 sqft. With them asking for low $900k and up, they should be making pretty decent profit with this set of homes.

interestingly, the property has been for sale since 2005, asking was $4.6 million, but looks like it was only approved for 3 homes per acre, that would translate to ~15 homes. that should have still penciled out quite well during the peak. wonder why no builder purchased it back in the days. per the listing they managed to change the zoning to 19 homes only recently.

[ocrenter]

Here’s the latest from City Ventures in Encinitas:

http://www.redfin.com/CA/Encinitas/Undisclosed-address-92024/home/17521490

http://www.cityventures.com/encinitas.php

At sales price of $4 million, the 19 lots each at ~9000 sqft average out to $210k. Looks like the average home will be around 3000 sqft. With them asking for low $900k and up, they should be making pretty decent profit with this set of homes.

interestingly, the property has been for sale since 2005, asking was $4.6 million, but looks like it was only approved for 3 homes per acre, that would translate to ~15 homes. that should have still penciled out quite well during the peak. wonder why no builder purchased it back in the days. per the listing they managed to change the zoning to 19 homes only recently.

[ocrenter]

Here’s the latest from City Ventures in Encinitas:

http://www.redfin.com/CA/Encinitas/Undisclosed-address-92024/home/17521490

http://www.cityventures.com/encinitas.php

At sales price of $4 million, the 19 lots each at ~9000 sqft average out to $210k. Looks like the average home will be around 3000 sqft. With them asking for low $900k and up, they should be making pretty decent profit with this set of homes.

interestingly, the property has been for sale since 2005, asking was $4.6 million, but looks like it was only approved for 3 homes per acre, that would translate to ~15 homes. that should have still penciled out quite well during the peak. wonder why no builder purchased it back in the days. per the listing they managed to change the zoning to 19 homes only recently.

[ocrenter]

Here’s the latest from City Ventures in Encinitas:

http://www.redfin.com/CA/Encinitas/Undisclosed-address-92024/home/17521490

http://www.cityventures.com/encinitas.php

At sales price of $4 million, the 19 lots each at ~9000 sqft average out to $210k. Looks like the average home will be around 3000 sqft. With them asking for low $900k and up, they should be making pretty decent profit with this set of homes.

interestingly, the property has been for sale since 2005, asking was $4.6 million, but looks like it was only approved for 3 homes per acre, that would translate to ~15 homes. that should have still penciled out quite well during the peak. wonder why no builder purchased it back in the days. per the listing they managed to change the zoning to 19 homes only recently.

[ocrenter]

[quote=sdrealtor]CAR
Quick questions for ya. You said MR, HOA and property taxes were $900. How much were the property taxes of that $900? My guess would be $700ish? If so, is it really $200 (or whatever) of MR and HOA that is holding you back?[/quote]

CAR, would love to see a link of this house in question.

[ocrenter]

[quote=sdrealtor]CAR
Quick questions for ya. You said MR, HOA and property taxes were $900. How much were the property taxes of that $900? My guess would be $700ish? If so, is it really $200 (or whatever) of MR and HOA that is holding you back?[/quote]

CAR, would love to see a link of this house in question.

[ocrenter]

[quote=sdrealtor]CAR
Quick questions for ya. You said MR, HOA and property taxes were $900. How much were the property taxes of that $900? My guess would be $700ish? If so, is it really $200 (or whatever) of MR and HOA that is holding you back?[/quote]

CAR, would love to see a link of this house in question.

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