[sdnerd]

I posted a while back that I anticipate these falling to ~$180k, potentially $150k if there is an overcorrection.

All the other 1 bedrooms are listed around $220-230k right now last I looked; this one just had a big price drop.

I purchased a 1 bedroom a little over 4 years ago and have been living here as my primary residence. I wouldn’t call it resort living by any means, but you don’t live here for that IMHO. It’s all about easy access to the freeway & surrounding office complexes – at least that was my big attraction. The new park right across the street is also quite nice. Should be pretty easy to rent out in a year or two.

The garages are quite large; I suppose if you wanted to store valuables in them that would not be a good idea. But if you just want an indoor spot for your car and some locking cabinets they are great. There have been some plumbing issues, but hopefully they are all sorted now.

By in large though, compared to many of the complexes in the UTC area I liked this one the most.

Breaking the $200k barrier though is big in my mind, will be curious to see how the other sellers react – and how quickly this one sells (and at what price).

[sdnerd]

Sure if you don’t write off anything at tax time, and you don’t pay for renters insurance.

At this price point however, those #s wash out.

I’m not suggesting one purchase a unit, just saying that for the first time in a long time the monthly to buy is about the same as to rent with a 30year fixed.

[sdnerd]

Sure if you don’t write off anything at tax time, and you don’t pay for renters insurance.

At this price point however, those #s wash out.

I’m not suggesting one purchase a unit, just saying that for the first time in a long time the monthly to buy is about the same as to rent with a 30year fixed.

[sdnerd]

Sure if you don’t write off anything at tax time, and you don’t pay for renters insurance.

At this price point however, those #s wash out.

I’m not suggesting one purchase a unit, just saying that for the first time in a long time the monthly to buy is about the same as to rent with a 30year fixed.

[sdnerd]

Sure if you don’t write off anything at tax time, and you don’t pay for renters insurance.

At this price point however, those #s wash out.

I’m not suggesting one purchase a unit, just saying that for the first time in a long time the monthly to buy is about the same as to rent with a 30year fixed.

[sdnerd]

Sure if you don’t write off anything at tax time, and you don’t pay for renters insurance.

At this price point however, those #s wash out.

I’m not suggesting one purchase a unit, just saying that for the first time in a long time the monthly to buy is about the same as to rent with a 30year fixed.

[sdnerd]

Hard to say. You are near Via De La Valle which is a world of hurt in terms of traffic. That’s an extra 30 minutes traffic easy if you work in the Qualcomm city area.

Not to mention the School District.. these units are right down the street from some of the best schools around. Lots of young couples with their first child wanting to be in that school district. $2k/mo rent doesn’t sound outlandish and even if it drops a bit, we aren’t talking a radical swing. Not sure which school district that part of Solana Beach falls into.

Race track view isn’t really high on a lot of families priorities.

I wouldn’t want to live there, but I know several co-workers and friends who do for those two reasons alone.

[sdnerd]

Hard to say. You are near Via De La Valle which is a world of hurt in terms of traffic. That’s an extra 30 minutes traffic easy if you work in the Qualcomm city area.

Not to mention the School District.. these units are right down the street from some of the best schools around. Lots of young couples with their first child wanting to be in that school district. $2k/mo rent doesn’t sound outlandish and even if it drops a bit, we aren’t talking a radical swing. Not sure which school district that part of Solana Beach falls into.

Race track view isn’t really high on a lot of families priorities.

I wouldn’t want to live there, but I know several co-workers and friends who do for those two reasons alone.

[sdnerd]

Hard to say. You are near Via De La Valle which is a world of hurt in terms of traffic. That’s an extra 30 minutes traffic easy if you work in the Qualcomm city area.

Not to mention the School District.. these units are right down the street from some of the best schools around. Lots of young couples with their first child wanting to be in that school district. $2k/mo rent doesn’t sound outlandish and even if it drops a bit, we aren’t talking a radical swing. Not sure which school district that part of Solana Beach falls into.

Race track view isn’t really high on a lot of families priorities.

I wouldn’t want to live there, but I know several co-workers and friends who do for those two reasons alone.

[sdnerd]

Hard to say. You are near Via De La Valle which is a world of hurt in terms of traffic. That’s an extra 30 minutes traffic easy if you work in the Qualcomm city area.

Not to mention the School District.. these units are right down the street from some of the best schools around. Lots of young couples with their first child wanting to be in that school district. $2k/mo rent doesn’t sound outlandish and even if it drops a bit, we aren’t talking a radical swing. Not sure which school district that part of Solana Beach falls into.

Race track view isn’t really high on a lot of families priorities.

I wouldn’t want to live there, but I know several co-workers and friends who do for those two reasons alone.

[sdnerd]

Hard to say. You are near Via De La Valle which is a world of hurt in terms of traffic. That’s an extra 30 minutes traffic easy if you work in the Qualcomm city area.

Not to mention the School District.. these units are right down the street from some of the best schools around. Lots of young couples with their first child wanting to be in that school district. $2k/mo rent doesn’t sound outlandish and even if it drops a bit, we aren’t talking a radical swing. Not sure which school district that part of Solana Beach falls into.

Race track view isn’t really high on a lot of families priorities.

I wouldn’t want to live there, but I know several co-workers and friends who do for those two reasons alone.

[sdnerd]

I’m not too surprised – while I think the prices are still too high, it’s got to be looking fairly attractive now that prices have fallen.

I think we can all agree CV is a very high demand area.

Renting a 2 bedroom unit in that area will cost you ~$2,000/mo. Roughly $24,000/yr.

With a ~$400,000 sale price, 20% down, 6.5% fixed the mortgage payment is going to run ~$2,025/mo. Even with a lower down payment, we are still in the ~$2,200/mo range.

Tax break, HOA, insurance get pretty close to being a wash give or take a small amount.

I guess it depends on how much you think the units will eventually sell for. If they fall another 20% their selling price would be around ~$320,000. Maybe they will, maybe they won’t and who knows how long it will take or what bailouts will take place. Either way, your rent is costing you $24k/yr.

Personally I wouldn’t buy one, but the #s aren’t that horrible unless I’m just missing something here.

[sdnerd]

I’m not too surprised – while I think the prices are still too high, it’s got to be looking fairly attractive now that prices have fallen.

I think we can all agree CV is a very high demand area.

Renting a 2 bedroom unit in that area will cost you ~$2,000/mo. Roughly $24,000/yr.

With a ~$400,000 sale price, 20% down, 6.5% fixed the mortgage payment is going to run ~$2,025/mo. Even with a lower down payment, we are still in the ~$2,200/mo range.

Tax break, HOA, insurance get pretty close to being a wash give or take a small amount.

I guess it depends on how much you think the units will eventually sell for. If they fall another 20% their selling price would be around ~$320,000. Maybe they will, maybe they won’t and who knows how long it will take or what bailouts will take place. Either way, your rent is costing you $24k/yr.

Personally I wouldn’t buy one, but the #s aren’t that horrible unless I’m just missing something here.

[sdnerd]

I’m not too surprised – while I think the prices are still too high, it’s got to be looking fairly attractive now that prices have fallen.

I think we can all agree CV is a very high demand area.

Renting a 2 bedroom unit in that area will cost you ~$2,000/mo. Roughly $24,000/yr.

With a ~$400,000 sale price, 20% down, 6.5% fixed the mortgage payment is going to run ~$2,025/mo. Even with a lower down payment, we are still in the ~$2,200/mo range.

Tax break, HOA, insurance get pretty close to being a wash give or take a small amount.

I guess it depends on how much you think the units will eventually sell for. If they fall another 20% their selling price would be around ~$320,000. Maybe they will, maybe they won’t and who knows how long it will take or what bailouts will take place. Either way, your rent is costing you $24k/yr.

Personally I wouldn’t buy one, but the #s aren’t that horrible unless I’m just missing something here.

[sdnerd]

I’m not too surprised – while I think the prices are still too high, it’s got to be looking fairly attractive now that prices have fallen.

I think we can all agree CV is a very high demand area.

Renting a 2 bedroom unit in that area will cost you ~$2,000/mo. Roughly $24,000/yr.

With a ~$400,000 sale price, 20% down, 6.5% fixed the mortgage payment is going to run ~$2,025/mo. Even with a lower down payment, we are still in the ~$2,200/mo range.

Tax break, HOA, insurance get pretty close to being a wash give or take a small amount.

I guess it depends on how much you think the units will eventually sell for. If they fall another 20% their selling price would be around ~$320,000. Maybe they will, maybe they won’t and who knows how long it will take or what bailouts will take place. Either way, your rent is costing you $24k/yr.

Personally I wouldn’t buy one, but the #s aren’t that horrible unless I’m just missing something here.

[Author]

Posts