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sdrealtor
Participant[quote=an][quote=gzz]As I recall MM had really high test scores even when it was a more downscale area.
The largest 3roots plan is 3,643 SF 5/4.5. So its high end overlaps with CV’s midrange, and is ~20 years newer.
On the other hand, the boxy modern look of the larger 3roots homes is inferior to the more traditional Spanish/French med look of your typical CV place.
The 3R plan that I like the best are the three floor SFH Citrine. Its modern boxy look just works better when it is taller.
https://www.live3roots.com/homes/citrine
If you’ve ever been to newer suburban areas of Amsterdam, Rotterdam and Paris, a lot of them have this look, though not as heavy with the stone trim.[/quote]
I personally like the Mediterranean/Spanish look more than the modern look. But the younger crowd do like the modern look more. So, I’m sure the builders have done their research based on their target audience and what they like. That might be one of the reasons why the level of interest is through the roof.[/quote]Actually that Tuscan /spanish/mediterranean look has been on its way out for more than five years. They don’t build much of that anywhere anymore. Houses with that interior have been viewed as fixer uppers for several years up here
Participant[quote=an][quote=flyer]Some friends inquired for their kids, and found the developments will, most likely, not be in their desired school districts, so they bought in CV. Don’t know if that will become an issue for potential buyers in those MM developments, but for those who want specific school districts for their kids, as many do, it might.[/quote]
Don’t tell that to the 14,000 families who want to be on the list for 1800 homes. I know many who can’t even get on the list.Lennar is going with “bidding war” sale, so have fun trying to be the winning bid. CalWest and Shea chose to do first come first serve for their first phase but it won’t surprise me if they’ll follow Lennar’s lead and do bidding war for the following phases.[/quote]
So the irony is a significant portion of the folks who buy in the top coastal school districts send their kids to private schools anyway. If i had to guess neither flyer nor his kids attended public schools
ParticipantTo see what will happen in MM one only need look north at San Marcos. Twenty Five years ago its was widely disparaged around North County locals. Then San Elijo Hills and some other smaller communities were built and the sea tide changed. Today San Marcos home prices for comparable homes arent all that different than Carlsbads.
It will take time as an mentioned but with a central location, relatively affordable homes, nice all usable lots common and proximity to UCSD, Medical centers and tech/life science job centers I only see one way for this to end.
Right now most homes are selling over $800k. At those prices the people moving in are not the same as the people moving out or most of the current residents.
There are about 25k housing units in MM. 60% of those are owner occupied so lets call that 15K.
This year about 800 homes will change ownership with close to 500 of those single family homes. Thats 3% turnover. Most of those were built in 70’s and 80’s so original owners hanging on have been there 40 to 50 years and will be aging out. Expect the pace of the turnover to accelerate. Throw in a few thousand new homes which will be magnets for even wealthier residents.
In 2030 years years, I beleive around 50% of the homes in MM will have different owners than they did in 2020. Incomes and education levels are rapidly rising along with that.
If I was a young couple starting out and thinking about starting a family MM would most certainly be on my radar
ParticipantSt George is the very definition of a bubble with home prices far outside the affordability of residents. It’s solely driven by immigrating disgruntled Californians which won’t last. Then what?
ParticipantYes very beautiful in many parts. And I hear there is a panda express there
ParticipantIt’s attached
ParticipantWas sold off market. No info provided.
Here’s a head turner though. Last sold in 1995 for $133K. They did a great remodel but with these places that cant be much more than $100K if that.
https://www.redfin.com/CA/Encinitas/251-Rosebay-Dr-92024/home/4096227
Participant[quote=DataAgent]My wife and I are now almost 70 years old. Back around 2018, I looked all over the west coast for a cheaper place to retire. When we discovered the strong influence of the Mormon church on the St George area, St George was was quickly removed from our list. My wife and I are very anti-organized religion. When we learned that about 75% of the permanent residents were Mormon, St George didn’t make the first cut.
My wife and I have been married for over 45 years. We grew up over 2000 miles apart. We met in the US Air Force. From Day 1, we were planning our retirement. Our families were very poor and gave us nothing to start with. So money was our biggest initial concern. We got very lucky in the business world and we always loved San Diego. Once we made it here, we’re not leaving. We hate the high cost of living in San Diego but we’re staying put. No other major west coast city comes close to the amenities and personality of San Diego.
As an ex-CPA, our current assets should carry us well into our 90s. I really hate blowing our money on the CA economy but there’s no place like home.[/quote]
Imagine that! Living the place that is among the nicest spots in the country is expensive. It’s great here and only reasonable to expect that you gotta pay to play
Currently 100 degrees in St george
ParticipantWould’ve been easier to say nice story, now let me tell mine again for the 1300th time because after all it is all about me
Participant[quote=barnaby33]And now for something completely different, returning to the subject of the thread. My wife is always trying to get me to buy real estate in her country of Origin, Peru. Strangely enough real estate in an of the barrios where a gringo can even live is just as or more expensive as real estate here in most middle class areas. Worse still it’s almost all condos. I scratch my head every time I see asking prices; knowing nobody in the local economy can afford that. Certain areas it’s just gringos and Peruvians who emigrated returning with USD. Other more natively populated areas are cheaper but still ridiculous when you start looking at income to price ratios.
Partly as I said before I think it’s because of demand for land in the capital. Partly I think materials are more expensive. Partly I think that when your currency is really unstable you invest in real estate as a hedge and families seldom let things go. Inherently that creates a supply problem which would tend to drive prices up.
Josh[/quote]
Location location location
Participant[quote=gzz]
Is there any point?
The point of the cows is milk and (luxem)burgers. They are the richest in Europe, on a per capita basis.[/quote]
I was referring to the prior comment. Reminded me of a BG comment that she went there once years ago to get her old lexus repaired and the road was unpaved. Its a completely different place now. Homes in SEH are about the same price as those on the coast now. Its high end now
ParticipantUpdate time.
New listings 29 – average listing counts as expected
New Pendings of 31 – back into balance
Thats -2. Market seems more in balance.
Closed sales at 35 –
Price reductions at 2.
Total houses for sale 80 with median of $1.99M. Market continues to move towards more balance. Closings still consistently coming in above asking and often well above asking but these were put togther a month or more ago. Will be interesting to see what happens with closings in next several weeks
Cheapest detached home is 1400 sq ft 2 story detached condo for $1.115M
ParticipantUpdate time. Strong week for MM, maybe strongest all year.
New listings 7 – slight decrease over last few weeks
New Pendings of 18 – easily biggest week of the year. Part is there was more inventory but there was more inventory the last 3 weeks. Bit of a reversal here
Thats -11 change
Closed sales at 6. Sign of previous low inventoyr as things take 30-60 days to close
Price reductions at 0.
Current inventory at 16 with median price of $850K.
Inventory had been building over last 5 weeks then boom. Things are cooking in MM again.
ParticipantThat sounds like a story my father in law used to tell me. Scratching my head? Is there any point?
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