[permabear]

Ok, try this listing directly from Brookfield.

“Price reduction! Never has a plan 1 sold this low! Western Sunset views on canyon rim next to open space!”

$213/ft

http://www.redfin.com/CA/San-Diego/11558-Carowind-Ln-92131/home/22417631

And these two just went pending after their price was dropped:

http://www.redfin.com/CA/San-Diego/LOT-261-Almond-Orchard-Ln-92131/home/28465800
http://www.redfin.com/CA/San-Diego/LOT-262-Almond-Orchard-Ln-92131/home/28564245

My point is, you could try holding out for even lower prices, but then again you could be missing out on a nice home trying to squeak out an extra $50k. Personally, if I needed a 4000 sq ft house, I would go in now with a solid 20% down offer and play hardball on price.

[permabear]

Ok, try this listing directly from Brookfield.

“Price reduction! Never has a plan 1 sold this low! Western Sunset views on canyon rim next to open space!”

$213/ft

http://www.redfin.com/CA/San-Diego/11558-Carowind-Ln-92131/home/22417631

And these two just went pending after their price was dropped:

http://www.redfin.com/CA/San-Diego/LOT-261-Almond-Orchard-Ln-92131/home/28465800
http://www.redfin.com/CA/San-Diego/LOT-262-Almond-Orchard-Ln-92131/home/28564245

My point is, you could try holding out for even lower prices, but then again you could be missing out on a nice home trying to squeak out an extra $50k. Personally, if I needed a 4000 sq ft house, I would go in now with a solid 20% down offer and play hardball on price.

[permabear]

Ok, try this listing directly from Brookfield.

“Price reduction! Never has a plan 1 sold this low! Western Sunset views on canyon rim next to open space!”

$213/ft

http://www.redfin.com/CA/San-Diego/11558-Carowind-Ln-92131/home/22417631

And these two just went pending after their price was dropped:

http://www.redfin.com/CA/San-Diego/LOT-261-Almond-Orchard-Ln-92131/home/28465800
http://www.redfin.com/CA/San-Diego/LOT-262-Almond-Orchard-Ln-92131/home/28564245

My point is, you could try holding out for even lower prices, but then again you could be missing out on a nice home trying to squeak out an extra $50k. Personally, if I needed a 4000 sq ft house, I would go in now with a solid 20% down offer and play hardball on price.

[permabear]

LOL

[permabear]

LOL

[permabear]

LOL

[permabear]

LOL

[permabear]

LOL

[permabear]

[quote=wanttobuy]What kind of price can we expect this fall/winter and next spring/summer? Serenity is selling and Montoro is selling fast. Many know these two have inferior quality and builder cut corners as much as they can, but with their aggressive pricing, some seems don’t care! Anybody has some insights regarding new and resales in hign end Stonebridge? How low can we see the price go?[/quote]

Who knows, but these are below replacement cost ($177/ft), which is insane. You can’t build for $177/ft, which means the home is discounted and the land is free:

http://www.redfin.com/CA/San-Diego/14719-Whispering-Ridge-Rd-92131/home/12153104
http://www.redfin.com/CA/San-Diego/14661-Old-Creek-Rd-92131/home/7515558

I think these are poster children for classic deflationary spiral thinking. I would guess buyers are figuring “heck they’re already $500k off, I bet they’ll go lower.”

Maybe, maybe not. I think the real question is: Do you want to live in the Stonebridge area for the forseeable future? On a 10 year timeframe, +/- $100k doesn’t matter that much. There will be another real estate bubble in the future (always is). If you can wait for it to sell, then you can buy at Stonebridge whenever you find the right home for your family, and sell in 20 years.

The thing people forget is that RE is a one-off deal. Trying to time it exactly is foolhardy. Each home is completely unique in its lot and geographical location. The odds of your perfect home in the perfect area on the perfect lot coming available at the very bottom of the market is nil.

[permabear]

[quote=wanttobuy]What kind of price can we expect this fall/winter and next spring/summer? Serenity is selling and Montoro is selling fast. Many know these two have inferior quality and builder cut corners as much as they can, but with their aggressive pricing, some seems don’t care! Anybody has some insights regarding new and resales in hign end Stonebridge? How low can we see the price go?[/quote]

Who knows, but these are below replacement cost ($177/ft), which is insane. You can’t build for $177/ft, which means the home is discounted and the land is free:

http://www.redfin.com/CA/San-Diego/14719-Whispering-Ridge-Rd-92131/home/12153104
http://www.redfin.com/CA/San-Diego/14661-Old-Creek-Rd-92131/home/7515558

I think these are poster children for classic deflationary spiral thinking. I would guess buyers are figuring “heck they’re already $500k off, I bet they’ll go lower.”

Maybe, maybe not. I think the real question is: Do you want to live in the Stonebridge area for the forseeable future? On a 10 year timeframe, +/- $100k doesn’t matter that much. There will be another real estate bubble in the future (always is). If you can wait for it to sell, then you can buy at Stonebridge whenever you find the right home for your family, and sell in 20 years.

The thing people forget is that RE is a one-off deal. Trying to time it exactly is foolhardy. Each home is completely unique in its lot and geographical location. The odds of your perfect home in the perfect area on the perfect lot coming available at the very bottom of the market is nil.

[permabear]

[quote=wanttobuy]What kind of price can we expect this fall/winter and next spring/summer? Serenity is selling and Montoro is selling fast. Many know these two have inferior quality and builder cut corners as much as they can, but with their aggressive pricing, some seems don’t care! Anybody has some insights regarding new and resales in hign end Stonebridge? How low can we see the price go?[/quote]

Who knows, but these are below replacement cost ($177/ft), which is insane. You can’t build for $177/ft, which means the home is discounted and the land is free:

http://www.redfin.com/CA/San-Diego/14719-Whispering-Ridge-Rd-92131/home/12153104
http://www.redfin.com/CA/San-Diego/14661-Old-Creek-Rd-92131/home/7515558

I think these are poster children for classic deflationary spiral thinking. I would guess buyers are figuring “heck they’re already $500k off, I bet they’ll go lower.”

Maybe, maybe not. I think the real question is: Do you want to live in the Stonebridge area for the forseeable future? On a 10 year timeframe, +/- $100k doesn’t matter that much. There will be another real estate bubble in the future (always is). If you can wait for it to sell, then you can buy at Stonebridge whenever you find the right home for your family, and sell in 20 years.

The thing people forget is that RE is a one-off deal. Trying to time it exactly is foolhardy. Each home is completely unique in its lot and geographical location. The odds of your perfect home in the perfect area on the perfect lot coming available at the very bottom of the market is nil.

[permabear]

[quote=wanttobuy]What kind of price can we expect this fall/winter and next spring/summer? Serenity is selling and Montoro is selling fast. Many know these two have inferior quality and builder cut corners as much as they can, but with their aggressive pricing, some seems don’t care! Anybody has some insights regarding new and resales in hign end Stonebridge? How low can we see the price go?[/quote]

Who knows, but these are below replacement cost ($177/ft), which is insane. You can’t build for $177/ft, which means the home is discounted and the land is free:

http://www.redfin.com/CA/San-Diego/14719-Whispering-Ridge-Rd-92131/home/12153104
http://www.redfin.com/CA/San-Diego/14661-Old-Creek-Rd-92131/home/7515558

I think these are poster children for classic deflationary spiral thinking. I would guess buyers are figuring “heck they’re already $500k off, I bet they’ll go lower.”

Maybe, maybe not. I think the real question is: Do you want to live in the Stonebridge area for the forseeable future? On a 10 year timeframe, +/- $100k doesn’t matter that much. There will be another real estate bubble in the future (always is). If you can wait for it to sell, then you can buy at Stonebridge whenever you find the right home for your family, and sell in 20 years.

The thing people forget is that RE is a one-off deal. Trying to time it exactly is foolhardy. Each home is completely unique in its lot and geographical location. The odds of your perfect home in the perfect area on the perfect lot coming available at the very bottom of the market is nil.

[permabear]

[quote=wanttobuy]What kind of price can we expect this fall/winter and next spring/summer? Serenity is selling and Montoro is selling fast. Many know these two have inferior quality and builder cut corners as much as they can, but with their aggressive pricing, some seems don’t care! Anybody has some insights regarding new and resales in hign end Stonebridge? How low can we see the price go?[/quote]

Who knows, but these are below replacement cost ($177/ft), which is insane. You can’t build for $177/ft, which means the home is discounted and the land is free:

http://www.redfin.com/CA/San-Diego/14719-Whispering-Ridge-Rd-92131/home/12153104
http://www.redfin.com/CA/San-Diego/14661-Old-Creek-Rd-92131/home/7515558

I think these are poster children for classic deflationary spiral thinking. I would guess buyers are figuring “heck they’re already $500k off, I bet they’ll go lower.”

Maybe, maybe not. I think the real question is: Do you want to live in the Stonebridge area for the forseeable future? On a 10 year timeframe, +/- $100k doesn’t matter that much. There will be another real estate bubble in the future (always is). If you can wait for it to sell, then you can buy at Stonebridge whenever you find the right home for your family, and sell in 20 years.

The thing people forget is that RE is a one-off deal. Trying to time it exactly is foolhardy. Each home is completely unique in its lot and geographical location. The odds of your perfect home in the perfect area on the perfect lot coming available at the very bottom of the market is nil.

[permabear]

[quote=Troubled Loner]They have depleted their IRA’s and pensions down to nothing, they can no longer pay the medical bills, and they are considering bankruptcy, but really don’t want to (they don’t feel it is right ethically).[/quote]

If they can display hardship to the insurance company, they should be able to settle the bills for much lower than their face value. Kinda like a short sale.

I have an uncle in a similar position. He had to have emergency bypass surgery while not covered by insurance. The total bill was $150k or so. He paid a very nominal amount each month – I think $50 – and eventually the company realized he wasn’t going to pay it off. He showed his financial situation, and the company settled for something like $5000 total.

As a side note to others, retirement accounts are protected against debt collectors. The worst thing you can do is deplete your IRA/401k paying bills.

http://www.nedap.org/hotline/exempt.html

[permabear]

[quote=Troubled Loner]They have depleted their IRA’s and pensions down to nothing, they can no longer pay the medical bills, and they are considering bankruptcy, but really don’t want to (they don’t feel it is right ethically).[/quote]

If they can display hardship to the insurance company, they should be able to settle the bills for much lower than their face value. Kinda like a short sale.

I have an uncle in a similar position. He had to have emergency bypass surgery while not covered by insurance. The total bill was $150k or so. He paid a very nominal amount each month – I think $50 – and eventually the company realized he wasn’t going to pay it off. He showed his financial situation, and the company settled for something like $5000 total.

As a side note to others, retirement accounts are protected against debt collectors. The worst thing you can do is deplete your IRA/401k paying bills.

http://www.nedap.org/hotline/exempt.html

[Author]

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