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permabear
ParticipantThanks for the extensive replies, bearishgurl
[quote=bearishgurl]To do it you will need to come up with a lot with a teardown on it (to have utils at the ready and avoid the “new construction premium” of $27K to $35K), the total of the bureaucrats’ “nickel and diming which amounts to the “ultimate white paper fee.” Your lender will most likely want you to put down 30-50% on the teardown lot because the dwelling on it may or may not be immediately habitable. Just the acquisition of the lot may take all the $$ you were going to use for a downpayment on a resale house.[/quote]
This is where I have gotten stuck so far. When looking all across San Diego, the only places with low-priced teardowns are neighborhoods that would not support a full rebuild. If you try to get a teardown in some place like Del Mar or North Poway or Scripps, you end up getting a completely decrepit house for 10% off what a completely remodeled “move-in ready” home goes for.
Case in point, this Del Mar home is an absolute gut job (been in it twice):
http://www.redfin.com/CA/Del-Mar/15030-Rancho-Real-92014/home/4444174
Whereas this one across the street was nicely maintained (not my style, but still):
http://www.redfin.com/CA/Del-Mar/15029-Rancho-Real-92014/home/4444027
So, < $150k difference, which doesn't even cover the architect/permit fees. If you're aware of a nice area with reasonable teardowns, I'm all ears. The only place I've remotely found is Green Valley in Poway, and even then it's more expensive than building from scratch (even with the "fresh build premium").
ParticipantThanks for the extensive replies, bearishgurl
[quote=bearishgurl]To do it you will need to come up with a lot with a teardown on it (to have utils at the ready and avoid the “new construction premium” of $27K to $35K), the total of the bureaucrats’ “nickel and diming which amounts to the “ultimate white paper fee.” Your lender will most likely want you to put down 30-50% on the teardown lot because the dwelling on it may or may not be immediately habitable. Just the acquisition of the lot may take all the $$ you were going to use for a downpayment on a resale house.[/quote]
This is where I have gotten stuck so far. When looking all across San Diego, the only places with low-priced teardowns are neighborhoods that would not support a full rebuild. If you try to get a teardown in some place like Del Mar or North Poway or Scripps, you end up getting a completely decrepit house for 10% off what a completely remodeled “move-in ready” home goes for.
Case in point, this Del Mar home is an absolute gut job (been in it twice):
http://www.redfin.com/CA/Del-Mar/15030-Rancho-Real-92014/home/4444174
Whereas this one across the street was nicely maintained (not my style, but still):
http://www.redfin.com/CA/Del-Mar/15029-Rancho-Real-92014/home/4444027
So, < $150k difference, which doesn't even cover the architect/permit fees. If you're aware of a nice area with reasonable teardowns, I'm all ears. The only place I've remotely found is Green Valley in Poway, and even then it's more expensive than building from scratch (even with the "fresh build premium").
Participant[quote=EconProf]Your selection is near Santaluz, which you may have already looked at. It has much lower density, is kid-friendly, and the design standards when built were exacting. Some bargains exist, but prices are edging up lately.[/quote]
I’d be curious to see what examples you have of this – I’ve seen the exact opposite. Prices continue to fall in Santaluz, which to your point is probably a good reason to consider buying a resale if we’re willing to deal with the Spanish architecture and MR/HOA’s.
Participant[quote=EconProf]Your selection is near Santaluz, which you may have already looked at. It has much lower density, is kid-friendly, and the design standards when built were exacting. Some bargains exist, but prices are edging up lately.[/quote]
I’d be curious to see what examples you have of this – I’ve seen the exact opposite. Prices continue to fall in Santaluz, which to your point is probably a good reason to consider buying a resale if we’re willing to deal with the Spanish architecture and MR/HOA’s.
Participant[quote=EconProf]Your selection is near Santaluz, which you may have already looked at. It has much lower density, is kid-friendly, and the design standards when built were exacting. Some bargains exist, but prices are edging up lately.[/quote]
I’d be curious to see what examples you have of this – I’ve seen the exact opposite. Prices continue to fall in Santaluz, which to your point is probably a good reason to consider buying a resale if we’re willing to deal with the Spanish architecture and MR/HOA’s.
Participant[quote=EconProf]Your selection is near Santaluz, which you may have already looked at. It has much lower density, is kid-friendly, and the design standards when built were exacting. Some bargains exist, but prices are edging up lately.[/quote]
I’d be curious to see what examples you have of this – I’ve seen the exact opposite. Prices continue to fall in Santaluz, which to your point is probably a good reason to consider buying a resale if we’re willing to deal with the Spanish architecture and MR/HOA’s.
Participant[quote=EconProf]Your selection is near Santaluz, which you may have already looked at. It has much lower density, is kid-friendly, and the design standards when built were exacting. Some bargains exist, but prices are edging up lately.[/quote]
I’d be curious to see what examples you have of this – I’ve seen the exact opposite. Prices continue to fall in Santaluz, which to your point is probably a good reason to consider buying a resale if we’re willing to deal with the Spanish architecture and MR/HOA’s.
Participant[quote=bearishgurl]
permabear, your link (above) depicts a large contemporary (tract?) home with “Tuscan” or “Spanish” touches such as the large front entrance facade.Is this what you consider of “modern” design or is what you REALLY want a “mid-century modern” but cannot find what you are looking for in the listings?[/quote]
Yes, sorry, we are definitely into mid-century modern. I probably confused things by including the link to a tract home. My point was that, in terms of size and cost, that tract home would fit the bill, BUT we are over the “design” of homes like that.
I’d seen Mercer York, very cool site. Mills Act is a good point that I had not thought of. What about the restrictions, though?
The challenge with most authentic mid-century modern homes is they tend to be in very expensive areas (La Jolla, Del Mar, etc), PLUS they command a premium, PLUS many of them are in disrepair. Pacifica in LJ/PB is the closest we’ve found, but the 5 fwy can be a bit overwhelming for many of the lots.
It’s sad because many mid-century homes have been torn down and replaced with Tuscan nonsense. For example, that Del Mar A-frame is marketed in the MLS as a teardown with 5000 sq ft Tuscan plans.
Participant[quote=bearishgurl]
permabear, your link (above) depicts a large contemporary (tract?) home with “Tuscan” or “Spanish” touches such as the large front entrance facade.Is this what you consider of “modern” design or is what you REALLY want a “mid-century modern” but cannot find what you are looking for in the listings?[/quote]
Yes, sorry, we are definitely into mid-century modern. I probably confused things by including the link to a tract home. My point was that, in terms of size and cost, that tract home would fit the bill, BUT we are over the “design” of homes like that.
I’d seen Mercer York, very cool site. Mills Act is a good point that I had not thought of. What about the restrictions, though?
The challenge with most authentic mid-century modern homes is they tend to be in very expensive areas (La Jolla, Del Mar, etc), PLUS they command a premium, PLUS many of them are in disrepair. Pacifica in LJ/PB is the closest we’ve found, but the 5 fwy can be a bit overwhelming for many of the lots.
It’s sad because many mid-century homes have been torn down and replaced with Tuscan nonsense. For example, that Del Mar A-frame is marketed in the MLS as a teardown with 5000 sq ft Tuscan plans.
Participant[quote=bearishgurl]
permabear, your link (above) depicts a large contemporary (tract?) home with “Tuscan” or “Spanish” touches such as the large front entrance facade.Is this what you consider of “modern” design or is what you REALLY want a “mid-century modern” but cannot find what you are looking for in the listings?[/quote]
Yes, sorry, we are definitely into mid-century modern. I probably confused things by including the link to a tract home. My point was that, in terms of size and cost, that tract home would fit the bill, BUT we are over the “design” of homes like that.
I’d seen Mercer York, very cool site. Mills Act is a good point that I had not thought of. What about the restrictions, though?
The challenge with most authentic mid-century modern homes is they tend to be in very expensive areas (La Jolla, Del Mar, etc), PLUS they command a premium, PLUS many of them are in disrepair. Pacifica in LJ/PB is the closest we’ve found, but the 5 fwy can be a bit overwhelming for many of the lots.
It’s sad because many mid-century homes have been torn down and replaced with Tuscan nonsense. For example, that Del Mar A-frame is marketed in the MLS as a teardown with 5000 sq ft Tuscan plans.
Participant[quote=bearishgurl]
permabear, your link (above) depicts a large contemporary (tract?) home with “Tuscan” or “Spanish” touches such as the large front entrance facade.Is this what you consider of “modern” design or is what you REALLY want a “mid-century modern” but cannot find what you are looking for in the listings?[/quote]
Yes, sorry, we are definitely into mid-century modern. I probably confused things by including the link to a tract home. My point was that, in terms of size and cost, that tract home would fit the bill, BUT we are over the “design” of homes like that.
I’d seen Mercer York, very cool site. Mills Act is a good point that I had not thought of. What about the restrictions, though?
The challenge with most authentic mid-century modern homes is they tend to be in very expensive areas (La Jolla, Del Mar, etc), PLUS they command a premium, PLUS many of them are in disrepair. Pacifica in LJ/PB is the closest we’ve found, but the 5 fwy can be a bit overwhelming for many of the lots.
It’s sad because many mid-century homes have been torn down and replaced with Tuscan nonsense. For example, that Del Mar A-frame is marketed in the MLS as a teardown with 5000 sq ft Tuscan plans.
Participant[quote=bearishgurl]
permabear, your link (above) depicts a large contemporary (tract?) home with “Tuscan” or “Spanish” touches such as the large front entrance facade.Is this what you consider of “modern” design or is what you REALLY want a “mid-century modern” but cannot find what you are looking for in the listings?[/quote]
Yes, sorry, we are definitely into mid-century modern. I probably confused things by including the link to a tract home. My point was that, in terms of size and cost, that tract home would fit the bill, BUT we are over the “design” of homes like that.
I’d seen Mercer York, very cool site. Mills Act is a good point that I had not thought of. What about the restrictions, though?
The challenge with most authentic mid-century modern homes is they tend to be in very expensive areas (La Jolla, Del Mar, etc), PLUS they command a premium, PLUS many of them are in disrepair. Pacifica in LJ/PB is the closest we’ve found, but the 5 fwy can be a bit overwhelming for many of the lots.
It’s sad because many mid-century homes have been torn down and replaced with Tuscan nonsense. For example, that Del Mar A-frame is marketed in the MLS as a teardown with 5000 sq ft Tuscan plans.
Participant[quote=enron_by_the_sea]The Office of Defense Secretary Robert Gates issued a statement today saying that the mystery contrail seen in the skies off Los Angeles County late Monday came from an aircraft, not a missile, as many have speculated … Cover up ???? 🙂 :)[/quote]
[Lieutenant Johnson] Hey, what does this button do?
Participant[quote=enron_by_the_sea]The Office of Defense Secretary Robert Gates issued a statement today saying that the mystery contrail seen in the skies off Los Angeles County late Monday came from an aircraft, not a missile, as many have speculated … Cover up ???? 🙂 :)[/quote]
[Lieutenant Johnson] Hey, what does this button do?
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