[zk]

[quote=flu] in my mind, even at the height, $350/sqft seems about reasonable.[/quote]

The key here is, “in my mind…seems.”

$350 seems reasonable in my mind, too. But that’s not what they’re selling for. That’s not what they sold for at the height, either.

I agree that the contestant number 2 got a lot for his house. I was surpised he got that much. That does kind of seem like peak pricing. It reminds me of 5880 Great Meadow in Saratoga. It was a foreclosure for sale this summer. Nice house, about 2700 sf, big lot, on a canyon, with a pool and spa. We offered a million on it, figuring it might get a million fifty. Some joker bid $1,180,000. I’d bet the second highest bid was a hundred grand less than that.

In any case, that’s what they’re selling for right now. There’s a limited supply of canyon-backing homes, and when they come on the market, there’s people who want them and will pay for them.

The last low point came in 2009. 5001 Manor Ridge was a 2700 sf Belmont on the canyon. No upgrades, ordinary lot. Sold for $925k. You can’t find that now. So prices have definitely gone up since then. Will they go back down there? Maybe. Maybe not. Who knows, really?

[zk]

[quote=flu] in my mind, even at the height, $350/sqft seems about reasonable.[/quote]

The key here is, “in my mind…seems.”

$350 seems reasonable in my mind, too. But that’s not what they’re selling for. That’s not what they sold for at the height, either.

I agree that the contestant number 2 got a lot for his house. I was surpised he got that much. That does kind of seem like peak pricing. It reminds me of 5880 Great Meadow in Saratoga. It was a foreclosure for sale this summer. Nice house, about 2700 sf, big lot, on a canyon, with a pool and spa. We offered a million on it, figuring it might get a million fifty. Some joker bid $1,180,000. I’d bet the second highest bid was a hundred grand less than that.

In any case, that’s what they’re selling for right now. There’s a limited supply of canyon-backing homes, and when they come on the market, there’s people who want them and will pay for them.

The last low point came in 2009. 5001 Manor Ridge was a 2700 sf Belmont on the canyon. No upgrades, ordinary lot. Sold for $925k. You can’t find that now. So prices have definitely gone up since then. Will they go back down there? Maybe. Maybe not. Who knows, really?

[zk]

[quote=flu][quote=lepetitangel]Thanks guys for sharing your comments.
We’ll see if we find something we like with a good price then.[/quote]

You missed it

http://www.sdlookup.com/MLS-100062752-10979_Cloverhurst_Way_San_Diego_CA_92130

And my what a difference a short sales makes

http://www.sdlookup.com/MLS-100049661-10976_Cloverhurst_Way_San_Diego_CA_92130

Good luck to contestant 3
http://www.sdlookup.com/MLS-100071915-10982_Cloverhurst_Way_San_Diego_CA_92130

$415/sqft! That’s some good crack they are smoking[/quote]

Good crack? Contestant number two got $412/sf for the same model house two doors down from contestant number 3. Contestant number 3 is asking for an additional $3/sf.

Sounds like Sudafed at best.

[zk]

[quote=flu][quote=lepetitangel]Thanks guys for sharing your comments.
We’ll see if we find something we like with a good price then.[/quote]

You missed it

http://www.sdlookup.com/MLS-100062752-10979_Cloverhurst_Way_San_Diego_CA_92130

And my what a difference a short sales makes

http://www.sdlookup.com/MLS-100049661-10976_Cloverhurst_Way_San_Diego_CA_92130

Good luck to contestant 3
http://www.sdlookup.com/MLS-100071915-10982_Cloverhurst_Way_San_Diego_CA_92130

$415/sqft! That’s some good crack they are smoking[/quote]

Good crack? Contestant number two got $412/sf for the same model house two doors down from contestant number 3. Contestant number 3 is asking for an additional $3/sf.

Sounds like Sudafed at best.

[zk]

[quote=flu][quote=lepetitangel]Thanks guys for sharing your comments.
We’ll see if we find something we like with a good price then.[/quote]

You missed it

http://www.sdlookup.com/MLS-100062752-10979_Cloverhurst_Way_San_Diego_CA_92130

And my what a difference a short sales makes

http://www.sdlookup.com/MLS-100049661-10976_Cloverhurst_Way_San_Diego_CA_92130

Good luck to contestant 3
http://www.sdlookup.com/MLS-100071915-10982_Cloverhurst_Way_San_Diego_CA_92130

$415/sqft! That’s some good crack they are smoking[/quote]

Good crack? Contestant number two got $412/sf for the same model house two doors down from contestant number 3. Contestant number 3 is asking for an additional $3/sf.

Sounds like Sudafed at best.

[zk]

[quote=flu][quote=lepetitangel]Thanks guys for sharing your comments.
We’ll see if we find something we like with a good price then.[/quote]

You missed it

http://www.sdlookup.com/MLS-100062752-10979_Cloverhurst_Way_San_Diego_CA_92130

And my what a difference a short sales makes

http://www.sdlookup.com/MLS-100049661-10976_Cloverhurst_Way_San_Diego_CA_92130

Good luck to contestant 3
http://www.sdlookup.com/MLS-100071915-10982_Cloverhurst_Way_San_Diego_CA_92130

$415/sqft! That’s some good crack they are smoking[/quote]

Good crack? Contestant number two got $412/sf for the same model house two doors down from contestant number 3. Contestant number 3 is asking for an additional $3/sf.

Sounds like Sudafed at best.

[zk]

[quote=flu][quote=lepetitangel]Thanks guys for sharing your comments.
We’ll see if we find something we like with a good price then.[/quote]

You missed it

http://www.sdlookup.com/MLS-100062752-10979_Cloverhurst_Way_San_Diego_CA_92130

And my what a difference a short sales makes

http://www.sdlookup.com/MLS-100049661-10976_Cloverhurst_Way_San_Diego_CA_92130

Good luck to contestant 3
http://www.sdlookup.com/MLS-100071915-10982_Cloverhurst_Way_San_Diego_CA_92130

$415/sqft! That’s some good crack they are smoking[/quote]

Good crack? Contestant number two got $412/sf for the same model house two doors down from contestant number 3. Contestant number 3 is asking for an additional $3/sf.

Sounds like Sudafed at best.

[zk]

[quote=SD Realtor]I agree with all of your posts zk. I think it is one of those, “to each his own”. For our family I found value in Scripps for a bit less then CV and the family atmosphere works for us. Now taste wise my wife would rather be a bit more rural into Poway. Anyways I agree with you, I think they are very similar, there are some parts about Scripps I like alot that CV doesn’t have. However I hate the commute down Pomerado with a passion![/quote]

Yes, to each his own. I really like Scripps Ranch and I think you get better value there.

Here’s one thing about Carmel Valley that I find interesting (and good). In Scripps Ranch (we lived there for almost 5 years), if you have a million dollar house, you’re king of the hill. And some of the people there would act pretty uppity about it. (Not most or even a lot, but some.) Their Escalade and their McMansion and they were hot stuff. Pretty annoying, really. In Carmel Valley, there are $3 and $4 million dollar houses right up the street. The kids of the would-be-uppity go to school with truly rich people. They meet and hang out with these people. They realize their Escalade and their million-dollar house put them way, way below the summit of the local mountain. And suddenly they’re not so uppity anymore. And the rich are rich enough to not have to be uppity. The ones we know are, without exception, humble. So there is, almost paradoxically, less “keeping up with the Joneses” here than you find in a lot of upper-middle class neighborhoods. Which is nice.

[zk]

[quote=SD Realtor]I agree with all of your posts zk. I think it is one of those, “to each his own”. For our family I found value in Scripps for a bit less then CV and the family atmosphere works for us. Now taste wise my wife would rather be a bit more rural into Poway. Anyways I agree with you, I think they are very similar, there are some parts about Scripps I like alot that CV doesn’t have. However I hate the commute down Pomerado with a passion![/quote]

Yes, to each his own. I really like Scripps Ranch and I think you get better value there.

Here’s one thing about Carmel Valley that I find interesting (and good). In Scripps Ranch (we lived there for almost 5 years), if you have a million dollar house, you’re king of the hill. And some of the people there would act pretty uppity about it. (Not most or even a lot, but some.) Their Escalade and their McMansion and they were hot stuff. Pretty annoying, really. In Carmel Valley, there are $3 and $4 million dollar houses right up the street. The kids of the would-be-uppity go to school with truly rich people. They meet and hang out with these people. They realize their Escalade and their million-dollar house put them way, way below the summit of the local mountain. And suddenly they’re not so uppity anymore. And the rich are rich enough to not have to be uppity. The ones we know are, without exception, humble. So there is, almost paradoxically, less “keeping up with the Joneses” here than you find in a lot of upper-middle class neighborhoods. Which is nice.

[zk]

[quote=SD Realtor]I agree with all of your posts zk. I think it is one of those, “to each his own”. For our family I found value in Scripps for a bit less then CV and the family atmosphere works for us. Now taste wise my wife would rather be a bit more rural into Poway. Anyways I agree with you, I think they are very similar, there are some parts about Scripps I like alot that CV doesn’t have. However I hate the commute down Pomerado with a passion![/quote]

Yes, to each his own. I really like Scripps Ranch and I think you get better value there.

Here’s one thing about Carmel Valley that I find interesting (and good). In Scripps Ranch (we lived there for almost 5 years), if you have a million dollar house, you’re king of the hill. And some of the people there would act pretty uppity about it. (Not most or even a lot, but some.) Their Escalade and their McMansion and they were hot stuff. Pretty annoying, really. In Carmel Valley, there are $3 and $4 million dollar houses right up the street. The kids of the would-be-uppity go to school with truly rich people. They meet and hang out with these people. They realize their Escalade and their million-dollar house put them way, way below the summit of the local mountain. And suddenly they’re not so uppity anymore. And the rich are rich enough to not have to be uppity. The ones we know are, without exception, humble. So there is, almost paradoxically, less “keeping up with the Joneses” here than you find in a lot of upper-middle class neighborhoods. Which is nice.

[zk]

[quote=SD Realtor]I agree with all of your posts zk. I think it is one of those, “to each his own”. For our family I found value in Scripps for a bit less then CV and the family atmosphere works for us. Now taste wise my wife would rather be a bit more rural into Poway. Anyways I agree with you, I think they are very similar, there are some parts about Scripps I like alot that CV doesn’t have. However I hate the commute down Pomerado with a passion![/quote]

Yes, to each his own. I really like Scripps Ranch and I think you get better value there.

Here’s one thing about Carmel Valley that I find interesting (and good). In Scripps Ranch (we lived there for almost 5 years), if you have a million dollar house, you’re king of the hill. And some of the people there would act pretty uppity about it. (Not most or even a lot, but some.) Their Escalade and their McMansion and they were hot stuff. Pretty annoying, really. In Carmel Valley, there are $3 and $4 million dollar houses right up the street. The kids of the would-be-uppity go to school with truly rich people. They meet and hang out with these people. They realize their Escalade and their million-dollar house put them way, way below the summit of the local mountain. And suddenly they’re not so uppity anymore. And the rich are rich enough to not have to be uppity. The ones we know are, without exception, humble. So there is, almost paradoxically, less “keeping up with the Joneses” here than you find in a lot of upper-middle class neighborhoods. Which is nice.

[zk]

[quote=SD Realtor]I agree with all of your posts zk. I think it is one of those, “to each his own”. For our family I found value in Scripps for a bit less then CV and the family atmosphere works for us. Now taste wise my wife would rather be a bit more rural into Poway. Anyways I agree with you, I think they are very similar, there are some parts about Scripps I like alot that CV doesn’t have. However I hate the commute down Pomerado with a passion![/quote]

Yes, to each his own. I really like Scripps Ranch and I think you get better value there.

Here’s one thing about Carmel Valley that I find interesting (and good). In Scripps Ranch (we lived there for almost 5 years), if you have a million dollar house, you’re king of the hill. And some of the people there would act pretty uppity about it. (Not most or even a lot, but some.) Their Escalade and their McMansion and they were hot stuff. Pretty annoying, really. In Carmel Valley, there are $3 and $4 million dollar houses right up the street. The kids of the would-be-uppity go to school with truly rich people. They meet and hang out with these people. They realize their Escalade and their million-dollar house put them way, way below the summit of the local mountain. And suddenly they’re not so uppity anymore. And the rich are rich enough to not have to be uppity. The ones we know are, without exception, humble. So there is, almost paradoxically, less “keeping up with the Joneses” here than you find in a lot of upper-middle class neighborhoods. Which is nice.

[zk]

http://piggington.com/mortgages_look_to_be_headed_for_drastic_changes

For the last 5 years, it seems like every week an article like this would come out. Not on mortgages, specifically, but on something that would have a drastic effect on the housing market. Every time I’d read something like this, I’d think, “here it comes!” But, for Carmel Valley, anyway, it just never happened.

Of course, that doesn’t mean it won’t now.

[zk]

http://piggington.com/mortgages_look_to_be_headed_for_drastic_changes

For the last 5 years, it seems like every week an article like this would come out. Not on mortgages, specifically, but on something that would have a drastic effect on the housing market. Every time I’d read something like this, I’d think, “here it comes!” But, for Carmel Valley, anyway, it just never happened.

Of course, that doesn’t mean it won’t now.

[zk]

http://piggington.com/mortgages_look_to_be_headed_for_drastic_changes

For the last 5 years, it seems like every week an article like this would come out. Not on mortgages, specifically, but on something that would have a drastic effect on the housing market. Every time I’d read something like this, I’d think, “here it comes!” But, for Carmel Valley, anyway, it just never happened.

Of course, that doesn’t mean it won’t now.

[Author]

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