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July 22, 2007 at 5:25 PM in reply to: Help from Realtors: what’s my friend’s house worth now? #67031July 22, 2007 at 5:25 PM in reply to: Help from Realtors: what’s my friend’s house worth now? #67095
SD Realtor
Participantsdr wow… okay if you consider this subdivision to be comparable…then that is your prerogative. This lot is 1700 sf larger… this home is over 450 sf larger. VRUDs home is one house away from backing to Carmel Creek as well…which is way way busier then Carmel Center which is where this home backs to…
Seriously?
Okay then…fine we agree to disagree… it is really getting pointless to continue this thread. Stick with the argument about less actives and more pendings. That one I totally agree with and it is an indisputable fact.
SD Realtor
Participant4Spotentialbuyer it is hard to say. The developers have done a great job keeping the demand high in 4S by racheting down the number of homes per phase release AND keeping the releases spaced out sufficiently. I cannot really say if fall 07 will be better or worse then spring 08. One thing for sure is that summer of 06 was much worse then summer of 07 out there. Many people who even post here will recall 4S being VERY slow last summer with empty sales offices and reductions in price coupled with large incentives. That has not been the same story this summer.
I would say if you find the house you like and can afford it, and it fits your lifestyle then go over there and bargain. Try to get an immediate 3% reduction with the rationale that you are not being represented by an agent.
In the same breathe I will say that I believe there will be foreclosures (or shall I say there will be more foreclosures there) and that there will be more depreciation there, not sure how much it will be or how long it will last, the homes in 4S will depreciate. However, if you can afford it, and you understand that there will be depreciation, and you do not want to rent anymore, then so be it. Just do not overextend yourself.
I am not trying to validate or invalidate your sanity. What I am trying to say is that you are one of many people looking to buy in this particular area. This confounds many of the posters here. Whether you are correct or they are correct was not the point of my post. The point really was that there is a demand for this particular supply. Many here try to say there is not, try to hope there is not, and feel very frustrated about that demand. Thus when people such as yourself post like you have, they are frequently met with replies that cannot comprehend the decision to purchase.
Again, if it is a purely financial question, I would say that holding out will enable you to purchase at a cheaper price in the long run. Will that mean that next year or 2 years down the road you would be able to buy the same home for a cheaper price? Not sure… I “think” so but those builders have done a good job keeping the prices up. Obviously there are other factors besides the sheer financial numbers that you are basing your home purchase on.
SD Realtor
Participant4Spotentialbuyer it is hard to say. The developers have done a great job keeping the demand high in 4S by racheting down the number of homes per phase release AND keeping the releases spaced out sufficiently. I cannot really say if fall 07 will be better or worse then spring 08. One thing for sure is that summer of 06 was much worse then summer of 07 out there. Many people who even post here will recall 4S being VERY slow last summer with empty sales offices and reductions in price coupled with large incentives. That has not been the same story this summer.
I would say if you find the house you like and can afford it, and it fits your lifestyle then go over there and bargain. Try to get an immediate 3% reduction with the rationale that you are not being represented by an agent.
In the same breathe I will say that I believe there will be foreclosures (or shall I say there will be more foreclosures there) and that there will be more depreciation there, not sure how much it will be or how long it will last, the homes in 4S will depreciate. However, if you can afford it, and you understand that there will be depreciation, and you do not want to rent anymore, then so be it. Just do not overextend yourself.
I am not trying to validate or invalidate your sanity. What I am trying to say is that you are one of many people looking to buy in this particular area. This confounds many of the posters here. Whether you are correct or they are correct was not the point of my post. The point really was that there is a demand for this particular supply. Many here try to say there is not, try to hope there is not, and feel very frustrated about that demand. Thus when people such as yourself post like you have, they are frequently met with replies that cannot comprehend the decision to purchase.
Again, if it is a purely financial question, I would say that holding out will enable you to purchase at a cheaper price in the long run. Will that mean that next year or 2 years down the road you would be able to buy the same home for a cheaper price? Not sure… I “think” so but those builders have done a good job keeping the prices up. Obviously there are other factors besides the sheer financial numbers that you are basing your home purchase on.
SD Realtor
ParticipantCould not agree more. I feel downtown will hit the 250-300 sf range depending on the quality of the unit and the view. Those who wait will do great here.
Downtown has the perfect recipe for the biggest fall. Definitely among the top areas where speculation ran rampant. A growing resale inventory along with plenty of new development. I very poor pending to active ratio. High carrying costs (HOA) for the nicer properties. Pretty much a perfect mix for healthy depreciation cycle.
SD Realtor
ParticipantCould not agree more. I feel downtown will hit the 250-300 sf range depending on the quality of the unit and the view. Those who wait will do great here.
Downtown has the perfect recipe for the biggest fall. Definitely among the top areas where speculation ran rampant. A growing resale inventory along with plenty of new development. I very poor pending to active ratio. High carrying costs (HOA) for the nicer properties. Pretty much a perfect mix for healthy depreciation cycle.
SD Realtor
ParticipantYou are not insane. Personally I would not recommend to make the purchase based purely on the thoughts that the market will depreciate. However you have other reasons for wanting to buy.
I do not believe that in the next few months you will find a 3000 sq ft home in 4S for 650-700k but ya never know.
I am sure even the most bearish of posters here has no clue as to why there are so many people like yourselves, who are looking to make that purchase and who indeed will make that purchase. It pretty much drives them crazy. People do not seem to fathom that there is demand out there for this type of housing.
SD Realtor
ParticipantYou are not insane. Personally I would not recommend to make the purchase based purely on the thoughts that the market will depreciate. However you have other reasons for wanting to buy.
I do not believe that in the next few months you will find a 3000 sq ft home in 4S for 650-700k but ya never know.
I am sure even the most bearish of posters here has no clue as to why there are so many people like yourselves, who are looking to make that purchase and who indeed will make that purchase. It pretty much drives them crazy. People do not seem to fathom that there is demand out there for this type of housing.
SD Realtor
July 22, 2007 at 12:18 AM in reply to: Help from Realtors: what’s my friend’s house worth now? #66915ParticipantNext time I have someone looking for a 3000 sq ft home with 5 bedrooms I will be sure to ask them is a 2600 sq ft home with 4 beds and a den will work.
SD Realtor
July 22, 2007 at 12:18 AM in reply to: Help from Realtors: what’s my friend’s house worth now? #66980ParticipantNext time I have someone looking for a 3000 sq ft home with 5 bedrooms I will be sure to ask them is a 2600 sq ft home with 4 beds and a den will work.
SD Realtor
Participanttemecula, your diatribe was 100% on target and very accurate… no my bad necessary…. I just took a guess and could very well be wrong… I just guessed the way I did based on the neighborhoods lucmom mentioned… as you wrote, they are not very diverse at all…
SD Realtor
Participanttemecula, your diatribe was 100% on target and very accurate… no my bad necessary…. I just took a guess and could very well be wrong… I just guessed the way I did based on the neighborhoods lucmom mentioned… as you wrote, they are not very diverse at all…
SD Realtor
ParticipantHouse is listed on the MLS at 675k-750k. It is listed by Prudential.
Go ahead and offer 675k and see what happens.
House was purchased back in 3/4/05 for 750k. The purchase was made with a mortgage of 650k. There is nothing fishy about this purchase at all.
Sorry to disappoint you.
SD Realtor
ParticipantHouse is listed on the MLS at 675k-750k. It is listed by Prudential.
Go ahead and offer 675k and see what happens.
House was purchased back in 3/4/05 for 750k. The purchase was made with a mortgage of 650k. There is nothing fishy about this purchase at all.
Sorry to disappoint you.
SD Realtor
ParticipantThis is just a guess temecula but I think the diversity desired was perhaps asian or indian.
SD Realtor
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