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sdnerd
Participant[quote=SmellsFeeshy]
I think $1200-1400 is a little high for Lucera based on current rents I’ve seen. You’re talking about the 1BR ~600sqft units right? Seems like comparable conversion units (like at Verano, Vicenza and Venetian) are being advertised on CL for around $1000-1200. Lucera has a better location and is nicer for the most part though so maybe that would justify a slight premium but I still think that when you factor in upkeep the 1BR at Lucera is probably close to break even at best even with 20% down.[/quote]The cheapest 1brs on CL for Vicenza or Venetian are $1,250. I wouldn’t compare Verano with any of those 3 though. I agree with you, Lucera has a better location and is nicer then the rest. I believe it’s also the only one with a garage.
There’s not much upkeep to a 1BR condo that has a HOA. A Mortgage+HOA is in the ~$900 range again would still be a couple hundred dollars/mo cheaper then renting.
Now needing all cash offers to get that price is another issue. 🙂
Participant[quote=SmellsFeeshy]
I think $1200-1400 is a little high for Lucera based on current rents I’ve seen. You’re talking about the 1BR ~600sqft units right? Seems like comparable conversion units (like at Verano, Vicenza and Venetian) are being advertised on CL for around $1000-1200. Lucera has a better location and is nicer for the most part though so maybe that would justify a slight premium but I still think that when you factor in upkeep the 1BR at Lucera is probably close to break even at best even with 20% down.[/quote]The cheapest 1brs on CL for Vicenza or Venetian are $1,250. I wouldn’t compare Verano with any of those 3 though. I agree with you, Lucera has a better location and is nicer then the rest. I believe it’s also the only one with a garage.
There’s not much upkeep to a 1BR condo that has a HOA. A Mortgage+HOA is in the ~$900 range again would still be a couple hundred dollars/mo cheaper then renting.
Now needing all cash offers to get that price is another issue. 🙂
Participant[quote=SmellsFeeshy]
I think $1200-1400 is a little high for Lucera based on current rents I’ve seen. You’re talking about the 1BR ~600sqft units right? Seems like comparable conversion units (like at Verano, Vicenza and Venetian) are being advertised on CL for around $1000-1200. Lucera has a better location and is nicer for the most part though so maybe that would justify a slight premium but I still think that when you factor in upkeep the 1BR at Lucera is probably close to break even at best even with 20% down.[/quote]The cheapest 1brs on CL for Vicenza or Venetian are $1,250. I wouldn’t compare Verano with any of those 3 though. I agree with you, Lucera has a better location and is nicer then the rest. I believe it’s also the only one with a garage.
There’s not much upkeep to a 1BR condo that has a HOA. A Mortgage+HOA is in the ~$900 range again would still be a couple hundred dollars/mo cheaper then renting.
Now needing all cash offers to get that price is another issue. 🙂
Participant[quote=SmellsFeeshy]
I think $1200-1400 is a little high for Lucera based on current rents I’ve seen. You’re talking about the 1BR ~600sqft units right? Seems like comparable conversion units (like at Verano, Vicenza and Venetian) are being advertised on CL for around $1000-1200. Lucera has a better location and is nicer for the most part though so maybe that would justify a slight premium but I still think that when you factor in upkeep the 1BR at Lucera is probably close to break even at best even with 20% down.[/quote]The cheapest 1brs on CL for Vicenza or Venetian are $1,250. I wouldn’t compare Verano with any of those 3 though. I agree with you, Lucera has a better location and is nicer then the rest. I believe it’s also the only one with a garage.
There’s not much upkeep to a 1BR condo that has a HOA. A Mortgage+HOA is in the ~$900 range again would still be a couple hundred dollars/mo cheaper then renting.
Now needing all cash offers to get that price is another issue. 🙂
ParticipantI’m still living in Lucera.
I’ve definitely noticed the same few units with lock boxes on them for months now. I’m not sure if it’s dreaming sellers, or if the litigation is keeping people out. I think someone said FHA loans aren’t given when their is a lawsuit pending.
I’m honestly a little surprised at that price though. Especially with interest rates where they are today. That might be just a teaser price to get bids up. I’m pretty sure all the other 1 bedrooms are listed in the ~$180k range right now… that’s a pretty big undercut. It’s a middle floor unit, with the bad floorplan.. but still.
After 20% down, with today’s rates you are looking at a mortgage somewhere around ~$600. Throw in the HOA, and you are still under ~$1,000.
They rent from $1,200-$1,400/mo right now, with no 1 bedrooms on CL.
(Yes, I know rents are probably falling and most people don’t have 20% downs.. still seems too cash flow positive right now)
ParticipantI’m still living in Lucera.
I’ve definitely noticed the same few units with lock boxes on them for months now. I’m not sure if it’s dreaming sellers, or if the litigation is keeping people out. I think someone said FHA loans aren’t given when their is a lawsuit pending.
I’m honestly a little surprised at that price though. Especially with interest rates where they are today. That might be just a teaser price to get bids up. I’m pretty sure all the other 1 bedrooms are listed in the ~$180k range right now… that’s a pretty big undercut. It’s a middle floor unit, with the bad floorplan.. but still.
After 20% down, with today’s rates you are looking at a mortgage somewhere around ~$600. Throw in the HOA, and you are still under ~$1,000.
They rent from $1,200-$1,400/mo right now, with no 1 bedrooms on CL.
(Yes, I know rents are probably falling and most people don’t have 20% downs.. still seems too cash flow positive right now)
ParticipantI’m still living in Lucera.
I’ve definitely noticed the same few units with lock boxes on them for months now. I’m not sure if it’s dreaming sellers, or if the litigation is keeping people out. I think someone said FHA loans aren’t given when their is a lawsuit pending.
I’m honestly a little surprised at that price though. Especially with interest rates where they are today. That might be just a teaser price to get bids up. I’m pretty sure all the other 1 bedrooms are listed in the ~$180k range right now… that’s a pretty big undercut. It’s a middle floor unit, with the bad floorplan.. but still.
After 20% down, with today’s rates you are looking at a mortgage somewhere around ~$600. Throw in the HOA, and you are still under ~$1,000.
They rent from $1,200-$1,400/mo right now, with no 1 bedrooms on CL.
(Yes, I know rents are probably falling and most people don’t have 20% downs.. still seems too cash flow positive right now)
ParticipantI’m still living in Lucera.
I’ve definitely noticed the same few units with lock boxes on them for months now. I’m not sure if it’s dreaming sellers, or if the litigation is keeping people out. I think someone said FHA loans aren’t given when their is a lawsuit pending.
I’m honestly a little surprised at that price though. Especially with interest rates where they are today. That might be just a teaser price to get bids up. I’m pretty sure all the other 1 bedrooms are listed in the ~$180k range right now… that’s a pretty big undercut. It’s a middle floor unit, with the bad floorplan.. but still.
After 20% down, with today’s rates you are looking at a mortgage somewhere around ~$600. Throw in the HOA, and you are still under ~$1,000.
They rent from $1,200-$1,400/mo right now, with no 1 bedrooms on CL.
(Yes, I know rents are probably falling and most people don’t have 20% downs.. still seems too cash flow positive right now)
ParticipantI’m still living in Lucera.
I’ve definitely noticed the same few units with lock boxes on them for months now. I’m not sure if it’s dreaming sellers, or if the litigation is keeping people out. I think someone said FHA loans aren’t given when their is a lawsuit pending.
I’m honestly a little surprised at that price though. Especially with interest rates where they are today. That might be just a teaser price to get bids up. I’m pretty sure all the other 1 bedrooms are listed in the ~$180k range right now… that’s a pretty big undercut. It’s a middle floor unit, with the bad floorplan.. but still.
After 20% down, with today’s rates you are looking at a mortgage somewhere around ~$600. Throw in the HOA, and you are still under ~$1,000.
They rent from $1,200-$1,400/mo right now, with no 1 bedrooms on CL.
(Yes, I know rents are probably falling and most people don’t have 20% downs.. still seems too cash flow positive right now)
ParticipantI’ll second the comment on UTC rentals getting softer.
A few months ago, units in my complex were rented almost immediately. They definitely appear to be taking longer to rent now, and I imagine prices are being lowered.
There’s (6) 2 bedroom units listed on CL right now from $1,500-$1,800. Doesn’t appear there are any 1 bedrooms on the market right now, which doesn’t surprise me too much. Fewer number, and the lower rent is attractive for students.
I’m not sure what impact the UCSD schedule has on the area. Summer is coming up, so maybe it’s that time of the year or something. I have seen a lot of moving trucks the last few weeks, and younger people & their parents carrying furniture.
ParticipantI’ll second the comment on UTC rentals getting softer.
A few months ago, units in my complex were rented almost immediately. They definitely appear to be taking longer to rent now, and I imagine prices are being lowered.
There’s (6) 2 bedroom units listed on CL right now from $1,500-$1,800. Doesn’t appear there are any 1 bedrooms on the market right now, which doesn’t surprise me too much. Fewer number, and the lower rent is attractive for students.
I’m not sure what impact the UCSD schedule has on the area. Summer is coming up, so maybe it’s that time of the year or something. I have seen a lot of moving trucks the last few weeks, and younger people & their parents carrying furniture.
ParticipantI’ll second the comment on UTC rentals getting softer.
A few months ago, units in my complex were rented almost immediately. They definitely appear to be taking longer to rent now, and I imagine prices are being lowered.
There’s (6) 2 bedroom units listed on CL right now from $1,500-$1,800. Doesn’t appear there are any 1 bedrooms on the market right now, which doesn’t surprise me too much. Fewer number, and the lower rent is attractive for students.
I’m not sure what impact the UCSD schedule has on the area. Summer is coming up, so maybe it’s that time of the year or something. I have seen a lot of moving trucks the last few weeks, and younger people & their parents carrying furniture.
ParticipantI’ll second the comment on UTC rentals getting softer.
A few months ago, units in my complex were rented almost immediately. They definitely appear to be taking longer to rent now, and I imagine prices are being lowered.
There’s (6) 2 bedroom units listed on CL right now from $1,500-$1,800. Doesn’t appear there are any 1 bedrooms on the market right now, which doesn’t surprise me too much. Fewer number, and the lower rent is attractive for students.
I’m not sure what impact the UCSD schedule has on the area. Summer is coming up, so maybe it’s that time of the year or something. I have seen a lot of moving trucks the last few weeks, and younger people & their parents carrying furniture.
ParticipantI’ll second the comment on UTC rentals getting softer.
A few months ago, units in my complex were rented almost immediately. They definitely appear to be taking longer to rent now, and I imagine prices are being lowered.
There’s (6) 2 bedroom units listed on CL right now from $1,500-$1,800. Doesn’t appear there are any 1 bedrooms on the market right now, which doesn’t surprise me too much. Fewer number, and the lower rent is attractive for students.
I’m not sure what impact the UCSD schedule has on the area. Summer is coming up, so maybe it’s that time of the year or something. I have seen a lot of moving trucks the last few weeks, and younger people & their parents carrying furniture.
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