[sdrealtor]

I’ll ask some oldtimers and find out.

[sdrealtor]

I have to chuckly when hearing “It’s different this time!” not matter what it applies to.

[sdrealtor]

OCR,
I stand by my comments on 6/6 but dont disagree that we could get into the mid 400’s by the end of next year. However, there have been closed sales of $547K, $560K, $589K and $597K since my post on 6/6/06.

There are now 13 homes in the MLS, one priced at $520K to $545K after that the others are all clustered between the mid $500’s and mid $600’s. There are 2 in escrow at asking prices of $540K (a short sale that went quick in 2 days) and $585K. Sure there is a lot of inventory, but we just dont know how many of the owners NEED to sell. Clealry the four in trouble NEED to.

BTW, That neighborhood has always struggled for resales even in the boom market and isnt representative of the entire market. That area is full of people that couldnt afford to buy what/where they wanted but stretched to go there because they were new/relatively new homes. That will likely be one of the very ugly areas.

[sdrealtor]

I hate to say it but I still vehemently disagree at least as my home turf goes. $2.5M is much too high a price point for North County Coastal areas as there never have been many sales at that price point. On Neptune there have been 2 to 4 oceanfront sales per year in the MLS at that price point the last few years.
Moving to South Carlsbad, there aren’t any (ZERO!!) oceanfront/$2.5M coastal homes. In North Carlsbad, there have been 2 oceanfront sales at $7M and $8.2 this Summer both RECORDS by a HUGE margin. There was also one for $2.65M on Garfield overlooking the lagoon. There was one for $5.75 in Summer 2005 and one on Garfield for $3.25M. Before that there was only one sale above $2.5M on Tierra del Oro (my favorite street) in 2004 and none before that.

I’m seeing huge sales numbers above $1.7M for new coastal luxury homes in Encinitas. Barrat sold 7 homes over $2M in Sidonia right off Encinitas Ranch Golf Course. The activity along La Costa Avenue West of 5 has been strong the last year. Sheridan Estates by California Cove sold 8 homes above $1.5M and there are a couple other infill projects at this price point right next door. Barratt is building another (Nantucket) right now.

Bugs, I think you are barking up the wrong tree. The class of homes being built and sold along Coastal North County barely existed prior to 2005.

[sdrealtor]

I can defintely appreciate the difference but it wasnt mentione din your post. There have also been 2 closed sales on the bluffs this year(both attached).

[sdrealtor]

“Encinitas has had no closed sales along Neptune or their other seafront streets in the last 9 months, although there’s one pending right now overlooking Moonlight Beach. There are currently 8 or 9 listings.”

Bugs,
You really need to do your homework better. There have been 4 closed sales on Neptune in 2006 per the MLS and 1 more pending. Neptune also frequently has private sales that dont appear in the MLS. There are 13 homes currently on the market there. In 2005, there were 5 sales on Neptune. I know of other homes (attached and detached) that have closed on seafront streets in Encinitas also.

[sdrealtor]

CAR=California Association of Realtors
NAR=National Association of Realtors

There is a difference and while median prices should not rise in CA they could on a National basis. Its a big world.

[sdrealtor]

JES,
It’s easy to say that is what you would do today yet much harder to actually do it. Then again its not your problem as you were fortunate to get out before the mess started in earnest.
SDR

[sdrealtor]

PS
We agree!
SDR

[sdrealtor]

Ya gotta love how much all those conservative Republicans care about all the unborn children from unintended preganancies. Shame is they could give a sh*t about them once they are born.

[sdrealtor]

SD ,
Thanks for the frank response. Just from the pix, I can see why your wife was attached to it emotionally. I am also not surprised that you had 2 offers, because it looks like the kind of home I’ve seen people gravitate toward. I’m a firm believer that money isn’t everything and would rather be happy and comfortable living where I want than wealthier in a place I don’t want to be.

I think your experience is a good lesson to all that it’s not a simple dollars and sense decision. We both have sat at seller’s kitchen tables while they agonize over offers that will richly reward them w/o so much as a counter. Heck, nearly 1 year later PS and her hubby are still churning over whether they sold too cheap. The emotional attachment we have with our homes are what make real estate unique from investments in financial instruments and a big reason why I believe prices will not drop as much as most here do. Sure lots of homes will be lost, but many more will remain the keystones of families lives in and around SD.

I hope all works out well for you and have no doubt it will.

SDR

[sdrealtor]

I think they did great to get it sold. Its a very tough market and that is a tough street to sell in the hottest of markets

[sdrealtor]

Unfortunately zoning codes can differ by city. you really need to consult the governing authority directly as there is no standard definitions to my knowledge.

[sdrealtor]

I’ve always used the AAA (i.e.auto club). Good claims resolution for autos, good service and reasonable/stable rates

[sdrealtor]

Is 4S considered Poway? If so it could be due to lots of 4S homes or other recent new construction hitting the market that wasnt on the market a year or 2 ago because it was still new construction. oh the woes of RE stats!

[Author]

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