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September 27, 2007 at 12:14 AM in reply to: Sellers chasing but always a bit higher than real market price #86060
SD Realtor
ParticipantWell put AN….Jimmy our favorite property on Penara is still out there at 465-515k and is a short sale….Hang in there and be patient. It is getting there…it will just take awhile.
SD Realtor
September 26, 2007 at 3:09 PM in reply to: Fairbanks Ranch vs. Santaluz vs. Cielo vs. rest of Rancho Santa Fe #86012ParticipantI would also recommend renting if you can. That way you will not only enjoy the benefit of what will most likely be continued depreciation, but you will be able to really scope out your ideal property without any rush.
SD Realtor
September 26, 2007 at 11:50 AM in reply to: Fairbanks Ranch vs. Santaluz vs. Cielo vs. rest of Rancho Santa Fe #85984ParticipantGood post New_Renter…
To the original poster you absolutely should go ahead and check out the commute on a weekday. This is absolutely a non trivial issue. Either way, commuting via the 56 corridor or the 5 corridor is something you should prepare for so definitely I would advise you to come down during a weekday to experience the commute in both directions.
I like Del Mar Mesa as well. I will say I already have seen some pretty substantial depreciation there and I expect it to continue on par or possibly even exceeding the Covenant. There is a nice foreclosure on Mesa Norte. It sold originally for 2.275M in 2005 and is now owned by the Bank of New York but they have not put it back on the market yet that I know of. Commute wise Del Mar Mesa will blow away anything in FB, the Covenent, etc…
Also regarding North vs South FB, I have no real basis for my preference nor do I have hard stats showing exceptional value/appreciation of either side over the other. My basis was only on some of the friends I have that live there that they prefer north to south. So take it with a small grain of salt.
SD Realtor
September 26, 2007 at 10:49 AM in reply to: Fairbanks Ranch vs. Santaluz vs. Cielo vs. rest of Rancho Santa Fe #85973ParticipantPersonally I would take FB Ranch, (north side) if you can afford it… It is very well established and more lush compared to the other selections you mentioned. You are correct about Cielo, it will give you the best views. I have been up there a few times lately but it is out pretty far out there and not being able to cut through the Crosby sucks. Interesting that you feel RSF is best for your family. I take it that is because you feel the school districts are preferable? Just my guess but given the Torrey Pines schools, Del Mar and La Jolla schools, or even the plethora of quality private schools in those locales, it would seem to me that you have the benefit of selection, (assuming you could afford them)… My point being that as the other poster pointed out, driving to CV from the locations you mentioned is a pain, especially as you head out more East and North.
By far the most established (and I would guess but cannot confirm) would be Fairbanks Ranch. As far as foreclosures, my “opinion” is that even very high end areas will suffer foreclosures but the more recently built high end areas will suffer more foreclosures then the more established high end areas. I believe that for a variety of reasons such as demographic, equity stake that the homeowners have, and spending patterns/risk aversion of those with old money as opposed to new money.
Crosby, Bridges and Cielo will have a similar microclimate which will be warmer then FB due to the fact that they are east of FB and built on the western slopes of the hills.
If you are really into golf then yeah the Bridges and Crosby are your best bet and that cannot be argued.Anyways I could go on and on but I think alot of people on the board will give you valuable feedback as well. My recommendation (and it is biased) would be North Side of Fairbanks Ranch…You could rub elbows with Trevor Hoffman seeing as the Padres will most likely choke their way out of the playoff race.
SD Realtor
September 26, 2007 at 10:32 AM in reply to: Carmel Valley – long time flipper house finally sold? #85969ParticipantIt is still sticky city out there regardless of a comp buster here and there. Don’t get me wrong, eventually enough comp busters will bring wholesale pricing down in these desireable areas….it just is a slow process and will be measured by years not weeks/months.
There is a bank owned right around the corner in Portico for 825k and it was originally listed in June at 849k… not much downward movement given the fact that it has sat like a turd on the market all summer. It is on 6035 Roselle Meadows Trail.
SD Realtor
ParticipantIf we thought it was unjust and there was a draft we would probably bail out of the country. We have a few countries on a list that we would relocate to.
SD Realtor
ParticipantOdd that he would show it in such a sloppy condition. The home was purchased in 2004 for 925k. The realist report does not go back to far so I cannot see the full mortgage history… from what I see they took out a first mortgage for 693.7k in 2004. I don’t know if they had a second or not. Now in 6/06 they took put a loan for 147k and then in 11/06 they took out another one for 784k. So one could assume that the owners now ow 931k on the property. There are two others in Torrey Highlands, one on Market for 829-869 and another on Amber for 849k that seem to be comparable from at least a bed/bath and sq foot standpoint. So I am not sure how the 850k pricing is from a motivated to sell point of view.
September 25, 2007 at 11:40 PM in reply to: What does it take to sell a place in this market? #85934ParticipantYour synopsis is entirely correct. I do agree and that is usually the case.
SD Realtor
ParticipantI just watched the third installment… man it was brutal…the focus was mostly on Italy and how much of a stalemate it was for the first several months. Also some of it was Tarawa…
I think in general I agree with your assessment. What was also remarkable to me was the behavior of the entire country, not just the men/women in the forces. Once again the documentary portrayed the good and bad… I was not aware of the major race problems as the infrastructure of the country (war plants, etc) started to incorporate blacks into the workforce and the predictably poor behavior of the whites.
My dad was in the war as well but never served on the front lines…Your point about the fortitude of this country is well taken and personally I agree with you.
My wife and I as well, talk about what we would do or how we would react if there was a war that we felt was just and how we would deal with it if there was a draft considering both of our sons could be drafted. It is a tough question which we really really hope we will never have to answer.
SD Realtor
ParticipantModerator please move this thread into off topics if possible…
One other thing really strikes me… There were not even ANY pictures of a single dead American troop until 1943 and that was finally in Life magazine. Last nights episode just showed how bad the first many battles went. I mean we were just getting stoned and shut down. Thousands of troops getting killed in battles in matters of days… I wonder if there was another situation where there were attrocities being committed that we had the courage to fight for, and if there was another war, if this country would have the fortitude to cope with it. In tonites episode they were talking about how pretty much every family had a relative or close friend killed or injured seriously.
SD Realtor
ParticipantI didn’t mean to be misleading however I do believe that the larger brokers do actually have more overhead to take listings that are overpriced. Pretty much every time I go to listing appointments, the clients say hey I have had other interviews with agents from *insert large broker name here* that said they believe my home will get this much for the home. In all those instances I tell them hey, you can list it for that much but in my opinion, you will not get much for it. So they invariably either list it with them or they list it with me at the higher price. I am trying now not to take those listings anymore but you are right, some of them I do take.
So let me clarify my point, I do believe that it is much easier for larger brokerages to carry listings that are priced in a manner that affords a lower probability of selling then it does for smaller brokerages with lower overhead.
In fact, in the older posting that I pulled the quote from, (where I spoke of the two dead dogs I had) that is a Lemon Grove listing that I did not take because the price that the guy wanted to price at was not what I agreed with, so he most likely listed it with his friend that worked for a larger brokerage.
Your point is very well taken however. In SOME instances we all do take overpriced listings, myself included. I just took one down on Valencia in Rolando, that IMO is well overpriced, although again, they are good friends who when they bought the place assured me they would be there for the long run but of course have since changed their minds and will take a huge bath. Another one was the Mira Lago listing down up in San Marcos. I begged the guy to list in the low 500’s when I took the listing and he wouldn’t do it… He stayed with me for awhile and it never sold… He said he would never sell at that price… so here he is with Prudential, after many many months on the market pending at 475k…
Now of course this is the same Prudential agent he said that he previously interviewed before he hired me who told him for sure it would sell at 550k due to the Prudential marketing power.
To finalize, yes you are correct, we do take listings that we sometimes view as overpriced. Personally I tell my clients flat out that I believe they are overpriced and in some cases way overpriced. Whether everyone else does that I am not sure.
SD Realtor
ParticipantNot calling me on that at all. In previous postings I have already said I have TWO, not one overpriced listings. These are both personal friends of mine. One was in Oceanside in the Fire Mountain area (and was relisted and finally expired) and the second is on Orange in Ramona.
Again, I have mentioned these before and if you like I can go trudge through the archives and find the postings where I did mention them.
SD Realtor
I have actually not mentioned it recently but here is one quick finding from August sdr..
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tg – most engineers are not
Submitted by SD Realtor on August 15, 2007 – 8:57am.
tg – most engineers are not so good at math as they are really bad in english…count me as one of those…The example here was to show that there are cases where sellers drive agents, not the other way around. I do have two listings that are priced in a ridiculous manner relative the submarkets they are in. They have been on the market forever and are the proverbial dogs… In both cases I know the sellers and I gave them the same advice but in those cases I did take the listings as they are friends. Why they don’t want to lower the prices and sell is beyond me….
SD Realtor
***********************Please let me know if you would like me to post the exact thread it came from.
Also regarding the San Carlos property that actually was not horribly overpriced relative to the market there. If you looked at the San Carlos comps relative to that listing period the home while slightly overpriced at first was not ridiculously overpriced. As it was the sellers did end up chasing the market down drastically and ended up selling for close to what the recent foreclosure went for not to long before their sale.
Ball is in your court now.
ar
ParticipantYour answer made me chuckle patiently waiting… yours to rus but rus… anyways I think the large brokerages have the time and money to serve people in that manner. Someone like me who carries much lower overhead and doesn’t have the time to deal with people who cannot seperate emotion from fact, it makes more sense to cut bait then to fish. Which is pretty much what the mainstream does… fish… then chase the market down… then take the listing off… then repeat in the ensuing spring.
SD Realtor
ParticipantThe Whispering Tree Lane listing expired at 59 days (that was your goodbye_. More then likely the sellers asked the listing agent for a short contract, (60 days). When you enter a home on the MLS you are obligated to put in a listing period which should match what you put in the contract. Then they relisted and it is now back on the MLS (hello)
Also it is kind of a no win situation.
Most of the things I hear when I speak to sellers at listing appointments is that they DO NOT want to be tied into long listing agreements. So to accomodate that the seller, you sign them to a short listing agreement. Thus the listing will expire earlier. Then the listing will be relisted again.
As for Sladon that listed for 153 days with Prudential and then the listing expired. This was back in 06. Then they relisted with Prudential and they cancelled after 215 days. Then they just relisted again with Prudential AND at the exact same price.
SD Realtor
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