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September 25, 2007 at 8:47 PM in reply to: Carmel Valley – long time flipper house finally sold? #85911September 25, 2007 at 8:33 PM in reply to: Carmel Valley – long time flipper house finally sold? #85908
patientlywaiting
ParticipantYeah, looks like $848,500 original purchase price.
http://www.sdlookup.com/Property-0428050A-13506_Moonflower_Meadows_Trl_San_Diego_CA_92130
According to the comments, Pardee is matching the price on new development so it might not be that great of a deal.
Participantsdrealtor, I think it’s smart to indulge the sellers and get them to adjust their asking later.
You need to slowly ease people into coming to terms with then accepting their situation. Shock therapy is painful and doesn’t work.
If I recall Seattle Relo is a therapist and might agree with that.
September 25, 2007 at 1:14 PM in reply to: Did this rate cut do anything to help the economy? #85852ParticipantI think that the coming recession will be deflationary, just like Japan’s lost decade has been.
No matter how low the dollar gets, China can always produce stuff cheap enough for us to buy. They will simply automate more.
How much was a Fast-Ethernet router in 2000? How much is it today? $50!!
We’ll have some inflation such as for food and energy. Energy inflation was self-induced (Iraq).
ParticipantI agree that Mello Roos is local government and developer collusion to extract more money out of home buyers.
There should be a taxpayer revolt against it and do away with Mello Roos completely. That way builders will have to charge more for the houses. If buyers don’t buy, then builders have to cut the prices. It’s that simple. As a buyer, it works out to be the same. Either you pay with the mortgage or through Mello Roos tax.
Mello Roos is a hidden tax that few buyers paid attention to when house were appriciating at double digit. Now they feel the real pain.
ParticipantYeah Little Lady is a little emotional about her city and her children.
Like I said, Santee is a good middle America place. I go there frequently and I don’t think there are too many Mexicans immigrants there.
Santee is mostly white and off-white non-college degreed population of auto body men, mechanics, military and ex-military, construction workers and their wives. Solid trades people who “made it” in part thanks to the real estate bubble. The construction contractors prospered because of real estate and all houses appreciated during the boom.
Mission Gorge is full of body shops and auto shops. Phil Thearle is a body man who now has a huge building where the 52 meets Mission Gorge Rd. He’s very successful and does a lot of insurance work. I’m sure he no longer lives in Santee or El Cajon.
The people are not pretentious. They are the alright types who are generally patriotic and god fearing. In Santee I see a lot of “In Loving Memory of John Doe” on people’s vehicles. Straight forward in their thinking and manners, they don’t really like the new immigrants but if you marry into their families or become their friends, you’ll be warmly accepted. Many white men have Hispanic wives. I think there is a drug and alcohol element. Afterall, hardworking men need some relaxation time.
People there tend to let things hang out. So when you go to restaurants, you can see children running around having fun. The manners are not most refined but the emotions are genuine.
Santee started changing about 10 years ago with the 52 connecting the city to San Diego. Corporate encroachment and rising real estate values are turning Mission Gorge Rd into Big Box shopping district. The old bars and bowling alleys are making way for national chain stores. The Hartford has a big presence. They are building a business park along the river.
Slowly Santee is being cleaned up into sterile suburb.
Interestingly, there’s a huge buddhist temple in Santee. I heard they located there years ago because of the cheap land or perhaps thanks to to a donation.
Overall, Santee is alright and upright. Much more preferable to Temecula in my view. When the 52 is completed, Santee will be in the middle of a growing metropolitan area. It will have all the Big Box stores and Costco to grow its tax base. Standard Pacific and Lennar have huge development plans for Santee so the future is bright. Skyranch Living promises hilltop Mc Mansions with views down the valley.
Participanthaha, do you know of any parents who don’t think their children are “gifted”?
Sorry but I think Mira Mesa is much superior to Santee on several counts.
1) Weather. Doesn’t everyone cite weather in SD?
2) Proximity to employement centers (Qualcomm, etc..) and UCSD and Sorrento Valley, La Jolla, Del Mar.
3) Geography. MM is on a mesa with views down canyons. Santee in a bowl surrounded by mountains hence the heat and pollution in the summer.
4) Location. MM is more centrally located off the 805, 5 and 15. West of 15 is better than east of 15, IMO.
5) Food. MM has better restaurants such as the Brasserie Wine Cellar, Karl Strauss, Japanese, Thai, etc..
6) Housing. The north side of MM with views down Los Penasquitos is much better. There are million dollar architect designed houses on Shaw Lopez, a little gem street in a sea of tract houses.
5) Recreation. Hiking, horse back riding, biking in Los Penasquitos Canyon Reserve.I’m in Mira Mesa and Santee for work frequently. And I prefer MM by far.
I have to say that the drive into Santee is pretty on a foggy morning. Driving into Santee feels like you’re going a long way into a different county because there are no developments past Santo Rd. Then as you come down mountain into Santee, you can see the sun rising in the east and burning off the fog. I think of Santee as the Emerald City (Wizard of Oz).
Participantseattle-relo. You’re not in a good position to sell having just bought 6 months ago. I don’t envy your situation.
Best wishes to you. You’re doing the right thing by taking care of your mom. She’s lucky to have you.
If you have a big lot, you might be able to build a guest suite with a separate entrance. It might cost you $60k to $90k but that might be better than taking a bath on selling your house. Plus rather than bring cash to escrow, you can finance the construction. The proceeds from your mom’s house could pay for the addition. Just a thought.
September 24, 2007 at 1:28 PM in reply to: Did this rate cut do anything to help the economy? #85715ParticipantThat’s why it’s a bailout for the banks. They get to make a bigger spread and recoup their losses. The risk premium is suddenly higher to pay for the past mistakes.
But since the bank won’t lower mortgage rates, it won’t do anything to help housing.
Remember, the Fed’s job it to ensure the health of the banking system. They are there to serve their member banks and by extension the economy. But the orderly operation of the financial system is their first priority.
I heard a Greenspan interview. And I agree with him. The Capitalist system is the best thing we’ve come up with since the Age of Enlightenment.
ParticipantOK, so I have a mild obsession with Del Sur.
This looks like a good price for the sf.
2428sf, $591,9000
15898 Paseo Del Sur #47
San Diego, CA 92127
MLS#: 076075153http://www.sdlookup.com/MLS-076075153-15898_Paseo_Del_Sur_47_San_Diego_CA_92127
Looks like Casero will get hammered because of they are paired homes competing with single family homes.
ParticipantIt looks like Shea home has some Del Sur listing on the MLS.
If a 2500sf listing can’t sell for $680,000… what makes them think at 2000sf house can sell for more in the same neighborhood.
8361 Bristol Ridge Ln
San Diego, CA 92127
http://www.sdlookup.com/MLS-071069530-8361_Bristol_Ridge_Ln_San_Diego_CA_92127Standard Pacific has some listings in the low $600k.
8453 Kern Crescent
San Diego, CA 92127
http://www.sdlookup.com/MLS-076073564-8453_Kern_Crescent_San_Diego_CA_92127Standard Pacific also has a 2781sf at $698,900
15817 Paseo Del Sur
San Diego, CA 92127
http://www.sdlookup.com/MLS-076075092-15817_Paseo_Del_Sur_San_Diego_CA_92127It looks like the builders are undercutting the resales in the market place, but also on the MLS.
I predict that 2008 will bring a bloodbath in Del Sur with losses in the $200k for the resellers.
The more expensive houses like Avaron might see $500k losses.
ParticipantLittle Lady, 20 miles at 65mph is 18.51 minutes. That’s if you never slow down or stop.
25 minutes is generous. Plus you have to nagivate the La Jolla traffic to get to the beach.
Like I said, I go to Santee for business and it’s a good place — generic and very middle class America. Mission Gorge is the kind of main street that you’d find in almost every newer town in America. Nothing wrong with that.
I don’t think the level of college education of the Santee population is very high. Let’s not even talk advance degree. Santee is mostly trade workers, military, et al. White or off-white population that is Republican and anti-immigrant but don’t hesitate to employ the Mexicans on their landscape projects. If that’s what you like, then all the better for you.
ParticipantI agree with you Bugs about Del Sur. I like it too. The park with pool is nice and the street have a nice strip of trees and landscape between the road and the sidewalks. Once the trees mature, the landscape will look nice. In 20 years, this will be a nice area.
But the prices at Del Sur are high compared to 4S, just 2 miles down the road. You can get more square feet for your money at 4S which is more of a generic development.
But Del Sur is hardly Fairbanks (I live there). You may be thinking Santa Luz which is just south. At Del Sur, perhaps Avaron, Gables Crossings and Sentinels are more Fairbanks like.
ParticipantI think it’s a nice project. But prices should only be $200k for 1/1 and $300k for 2/2.
http://www.urbanproperties.com/deca.html
More projects coming to Hillcrest.
http://www.sandiegometro.com/2007/jun/property.phpParticipantAlex, what happened to you? Have you had a conversion of your own? I remember your rosy posts of yore. Like “there’re not making anymore land.”
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