Skyranch in Santee

User Forum Topic
Submitted by sunny88 on March 1, 2009 - 12:43am

The homes at Skyranch in Santee are very "reasonably" priced compared to other new homes in San Diego and there is no Mello Roos. I would like to see if anybody in this forum has bought a home in this development or if anybody has an opinion if they are a good value. Also, will home prices in Santee go up faster than other parts of SD?

Submitted by Aecetia on June 12, 2010 - 7:32pm.

I enjoyed looking at the models (on line) and I think for those have not been to Santee in awhile, it might be worth checking into. The pictures of the views were great. Maybe for some people they are overbuilt for the area in size and style, for others they just might be their cup of tea. For me, that is a lot more house than I need. I would also not want to pay for the upgrades or furniture, affordable or not.

Submitted by PKMAN on June 2, 2010 - 1:07pm.

SkyRanchOwner wrote:
On someone driving drunk down the road, yes it could happen, but very unlikely. I doubt one drunk, driving down the road will affect 371 townhomes/home owners. You can find drunks driving around anywhere. Plus, the speed limit is very low, so even if they were drunk, they would be unlikely to make it over the curb. In addition, there are 2 main speedbumps on that road that are so heavy duty that even a drunk would slow down for them.

I think the bigger concern is drunk driver causing accident and shutting down the only road getting in/out of Sky Ranch. But good point on the speed bump. Anyone not slowing down for speed bump is probably more likley to lose control and fly out, then to have the car stopped in the middle of the road blocking traffic.

Submitted by santeeman on June 3, 2010 - 10:46am.

Yes,the point I was making is that it is a extremely steep, winding road, next to a cliff. No speed bump will stop a drunk driver from flying off.

It's the big joke in Santee.

It's obvious some of these folks are selling these homes. The area is beautiful, with unobstructed million dollar views. The fact that you overlook the fact it's near an airport tells me that guy is selling these.

By the way, there was another plane crash nearby yesterday.

Submitted by SkyRanchOwner on June 3, 2010 - 10:31pm.

All you need to do is spend the day at the Sky Ranch Park and realize how little a factor the airport is. I'm speaking from someone who lives up here, and I've talked to neighbors who never complain of the airport. So, you need to come up here and hang out for the day. Also, there is a lookout point right across from the Eaglepointe model homes. Just drive up to Sky Ranch and park here. Get out of the car, and you can get a feel for what it would be like.

The main road up the hill is very straight except at the bottom where it connects to Graves and at the top where it goes past the NorthStar condos. Many trucks and cars drive up and down this road daily from morning to night, and as far as I know, there hasn't been a single accident, other than cars getting jolted by the heavy duty speed bumps.

Also, most approaches for the airport come directly from East to West on the South side of the mountain, or they come going North than turn West to line up with the runway. Sometimes they do come over the mountain going North to South, then turning West to line up with the runway. There is less of this approach from what I see, and it depends on the weather conditions.

Here is someone flying over Rattlesnake mountain (Sky Ranch) getting ready for an approach. You can see Sky Ranch in the early days of development. In this one, he is coming in from the West with Sky Ranch coming in on the left side of the screen, then he loops around Sky Ranch to take the East to West approach:
http://www.youtube.com/watch?v=Nraq2xhcq...

This one is coming in from the East and flying by Sky Ranch, which is on the North side of the approach:
http://www.youtube.com/watch?v=FNKrR-tCB5Y

That plane crash was more down low near Cuyamaca and the trolley lines:
http://www.sandiego6.com/news/local/stor...

You don't have to take my word on all this, just come up here yourself and have a look.

Submitted by santeeman on June 4, 2010 - 11:28am.

No doubt, it's nice.

I personally think that the views are amazing. I haven't been there at night. I imagine the airport looks incredible at that time. I have been up there several times, not for the entire day but for a few hours at a time.

I noticed a constant breeze as well. I am not sure it happens all the time, I would imagine it does. That is something unusual for east county.

There are definate drawbacks though you shouldn't try to overlook. I have been in the condos, and I don't like them. I don't like having 3 flights of stairs for 3 bedrooms. It doesn't make sense.

Submitted by SkyRanchOwner on June 10, 2010 - 9:37pm.

NEW Smokin deals at Sky Ranch for Eaglepointe homes:

1. EaglePointe Model Home, Plan 2, Fully furnished and upgraded!!
$799,990, 4177 sq. ft., 5 bed / 5 bath, 3 car garage
http://www.sdlookup.com/MLS-100009996-61...

2. EaglePointe, Plan 2X, top of the hill, on backside, with approximately 1 acre of land (includes slopes in land measurement)
$699,990, 4168 sq. ft., 5 bed / 5 bath, 3 car garage
http://www.sdlookup.com/MLS-100023268-72...

Submitted by Jim Jones on June 10, 2010 - 10:43pm.

SkyRanchOwner wrote:
NEW Smokin deals at Sky Ranch for Eaglepointe homes:

1. EaglePointe Model Home, Plan 2, Fully furnished and upgraded!!
$799,990, 4177 sq. ft., 5 bed / 5 bath, 3 car garage
http://www.sdlookup.com/MLS-100009996-61...

2. EaglePointe, Plan 2X, top of the hill, on backside, with approximately 1 acre of land (includes slopes in land measurement)
$699,990, 4168 sq. ft., 5 bed / 5 bath, 3 car garage
http://www.sdlookup.com/MLS-100023268-7270_Ocotillo_St_Santee_CA_92071

I think everyone here would like to thank your for the shameless plug on these two properties.

Just curious, how much more effort would it have taken to use real photos of the properties? Also did you not think people would notice that the photos were the same for the two different locations?

If you are in fact a Realtor you are clearly not smart enough to understand that consumers have a brain and do use it.

Submitted by flu on June 11, 2010 - 8:22am.

Jim Jones wrote:
SkyRanchOwner wrote:
NEW Smokin deals at Sky Ranch for Eaglepointe homes:

1. EaglePointe Model Home, Plan 2, Fully furnished and upgraded!!
$799,990, 4177 sq. ft., 5 bed / 5 bath, 3 car garage
http://www.sdlookup.com/MLS-100009996-61...

2. EaglePointe, Plan 2X, top of the hill, on backside, with approximately 1 acre of land (includes slopes in land measurement)
$699,990, 4168 sq. ft., 5 bed / 5 bath, 3 car garage
http://www.sdlookup.com/MLS-100023268-7270_Ocotillo_St_Santee_CA_92071

I think everyone here would like to thank your for the shameless plug on these two properties.

Just curious, how much more effort would it have taken to use real photos of the properties? Also did you not think people would notice that the photos were the same for the two different locations?

If you are in fact a Realtor you are clearly not smart enough to understand that consumers have a brain and do use it.

$800k for a home in Santee????Gee, anyone want to spend this much for that location, I have a bridge to sell to you....

Submitted by bearishgurl on June 11, 2010 - 2:17pm.

flu wrote:
$800k for a home in Santee????Gee, anyone want to spend this much for that location, I have a bridge to sell to you....

I'm in total agreement, flu. SkyRanchOwner seems like (s)he has a "vested interest" in seeing that all new units out there are sold ASAP. It's almost as if . . . (s)he works in the "Sky Ranch" sales office - LOL!

Submitted by santeeman on June 11, 2010 - 3:47pm.

bearishgurl wrote:
flu wrote:
$800k for a home in Santee????Gee, anyone want to spend this much for that location, I have a bridge to sell to you....

I'm in total agreement, flu. SkyRanchOwner seems like (s)he has a "vested interest" in seeing that all new units out there are sold ASAP. It's almost as if . . . (s)he works in the "Sky Ranch" sales office - LOL!

That or is upside down in one

Submitted by SkyRanchOwner on June 11, 2010 - 4:17pm.

Neither, and the link to the properties were just to show you the posting. Yes, the pictures are the same because they are listings from the builder. Those pictures are of the model home that is selling for $799,990. Complain to them on the pictures, not me. I was just trying to give you the MLS info and the property addresses.

I live here and think they are great deals. I'm just trying to spread the news. I guess you haven't seen the homes or the views, because your comments would change.

I'm posting to support the community, which, if you haven't been up here, you should come take a look. It can't hurt to advertise and help the community, which is growing fast.

Plus, I noticed this blog for Sky Ranch, and I thought people would like to hear from someone that actually lives here versus people who have never been up to Sky Ranch (Rattlesnake Mountain) and make comments on a community which they have never seen nor spoken to people that own up here.

They continue to build homes up here because they are selling. They are selling because the community is very nice, people like it up here, and the prices are great!

$799,990 is for a FULLY furnished and UPGRADED home that is over 4,000 square feet in a culdesac with a great view in a great, unique community with NO mello roos! How much do you think it would cost to fully furnish over 4,000 square feet, in addition to all the upgraded wood trim, and a fully landscaped yard? It has probably around $200,000 in all compared to a regular new home! Also, the 52 extension is moving well, and it will offer a nice easy commute to Sorrento Valley and La Jolla. You won't find that in Rancho Bernardo, Carmel Valley, La Jolla, or anywhere else. Ok, maybe Chula Vista, but that is a longer drive to Sorrento Valley and La Jolla. Plus, you have to pay a toll road fee each way.

Submitted by SkyRanchOwner on June 11, 2010 - 4:31pm.

By the way, Gillespie Field just held the annual Wings Over Gillespie airshow. This is a great event to watch at Gillespie Field or up in Sky Ranch.

www.wingsovergillespie.org

www.wingsovergillespie.org/welcome.htm

Submitted by Jim Jones on June 11, 2010 - 11:12pm.

SkyRanchOwner wrote:
By the way, Gillespie Field just held the annual Wings Over Gillespie airshow. This is a great event to watch at Gillespie Field or up in Sky Ranch.

www.wingsovergillespie.org

www.wingsovergillespie.org/welcome.htm

If this is not the thread jack to end all thread jacks I don't know what is. All we need to do is have SkyRanchOwner claim that living on the right side of the cul de sac in Santee is good for Repubs and living on the left is good for Brian and this one will go into the thread jack hall of fame.

Submitted by SkyRanchOwner on June 12, 2010 - 12:13am.

Mr. Jones, it's funny that your posts are only about insulting me, when I've never insulted you. I've just posted facts and information on Sky Ranch, where you seem to be focused on criticizing me personally and trying to pick a fight. I wish you the best. If you don't like Sky Ranch then just say so, but please don't try to just make sly remarks that are meaningless. Last time I checked, this thread was about "Skyranch in Santee"!

Also, if you had been up here, you would realize that Gillespie Field is the airport everyone discusses that is next to Sky Ranch (Rattlesnake Mountain). Many families watched the airshow from their homes or went down to the field to check out the planes.

I'm just trying to say what it's like to live in Sky Ranch and the events and facilities in the area.

Yes, I'm biased towards Sky Ranch, but not because I'm selling the homes, as you may think, but only because I too at one time searched all of San Diego for a home and community to live in for several years during the boom and after.

We settled on Sky Ranch, and we have been very happy. It has worked for us, and I know many people are out there trying to decide where to buy and live. I only wish to educate those who aren't familiar with Sky Ranch and Santee, because it took me awhile to find out everything. I was very suprised by how happy we were with our choice, and many neighbors that have bought up here feel the same way.

Submitted by kcal09 on June 12, 2010 - 2:13pm.

SkyRanchOwner wrote:
Mr. Jones, it's funny that your posts are only about insulting me, when I've never insulted you. I've just posted facts and information on Sky Ranch, where you seem to be focused on criticizing me personally and trying to pick a fight. I wish you the best. If you don't like Sky Ranch then just say so, but please don't try to just make sly remarks that are meaningless. Last time I checked, this thread was about "Skyranch in Santee"!

Also, if you had been up here, you would realize that Gillespie Field is the airport everyone discusses that is next to Sky Ranch (Rattlesnake Mountain). Many families watched the airshow from their homes or went down to the field to check out the planes.

I'm just trying to say what it's like to live in Sky Ranch and the events and facilities in the area.

Yes, I'm biased towards Sky Ranch, but not because I'm selling the homes, as you may think, but only because I too at one time searched all of San Diego for a home and community to live in for several years during the boom and after.

We settled on Sky Ranch, and we have been very happy. It has worked for us, and I know many people are out there trying to decide where to buy and live. I only wish to educate those who aren't familiar with Sky Ranch and Santee, because it took me awhile to find out everything. I was very suprised by how happy we were with our choice, and many neighbors that have bought up here feel the same way.

I have visited Skyranch a few times and agree with you that the view is great and the homes quite attractive. The reason why we didn't buy there was that resale will be very difficult as most people who can afford a +$800k home just don't want to live in Santee. They would rather live in 4S ranch or Scripps Ranch with better public schools.

Submitted by Jim Jones on June 12, 2010 - 2:57pm.

SkyRanchOwner wrote:
Mr. Jones, it's funny that your posts are only about insulting me, when I've never insulted you. I've just posted facts and information on Sky Ranch, where you seem to be focused on criticizing me personally and trying to pick a fight.

First I was not insulting you personally. I was addressing the approach you took to discussing the Sky Ranch area. Other then posting two builder listings and a plug for a small airport which amounts to free advertising you have done nothing more to further the discussion.

As I have never been to Sky Ranch why not discuss the market details, local area, schools and compare that to similar regions in the SD county area.

Submitted by flu on June 12, 2010 - 3:42pm.

SkyRanchOwner wrote:

$799,990 is for a FULLY furnished and UPGRADED home that is over 4,000 square feet in a culdesac with a great view in a great, unique community with NO mello roos! How much do you think it would cost to fully furnish over 4,000 square feet, in addition to all the upgraded wood trim, and a fully landscaped yard? It has probably around $200,000 in all compared to a regular new home! Also, the 52 extension is moving well, and it will offer a nice easy commute to Sorrento Valley and La Jolla. You won't find that in Rancho Bernardo, Carmel Valley, La Jolla, or anywhere else. Ok, maybe Chula Vista, but that is a longer drive to Sorrento Valley and La Jolla. Plus, you have to pay a toll road fee each way.

I'm trying to understand what appears to be a cult-like infatuation with "owners" from Santee in trying to justify what a nice area Santee is.. I mean, every time someone from Santee posts, it's always about how "close we are to being the next big thing"...I don't get it.

Second, I'm sorry there are some areas where price just doesn't justify location/location/location. $800k in Santee is out of place. That's close to how much a 4bed/3000 sqft place would fetch in 4s and possibly even in carmel valley (4bed/2700sqftish) and I would even say some parts of carlesbad...A working family of 4 doesn't *need* 4000 sqft to be living in day/day, and a retired couple doesn't need 4-5 bedrooms 4000sqft... And someone with money to burn and wants bragging rights to a higher end home, I don't think would jump out and say "hey, I want to spend $800k in Santee". So absent of folks in those categories previously mentioned, what demographics of people are left for which a $800k home would appeal to, and would be ok putting down that much money living in an area with landmarks that are...uh...not so appealing...such as a prison? Yes, yes I understand that there is Santee community trying to prevent the expansion of said penal facility. But come on, clearly a penal facility isn't "enhancing an area", is it? And whenever that point is brought up, it's always...But but but, Santee is so much more. It's so close to the La Jolla, that it's almost is going to be like La Jolla. I don't know, I think some of you folks in Santee are drinking a little too much coolaid. It's not that I think Santee is a dump or anything. But it's just these price ranges aren't anywhere near reasonable relative to the rest of the markets in SD, and no way that with the rest of the higher end homes coming down in SD, would Santee be immune to this. If RE prices fall in the more afluent areas (and they are/will), such as 4S and Carmel Valley, LJ, relatively speaking Santee will fall just as much, if not more....Because if you believe that the same people who shop in the 4s/CV/LJ markets also think Santee is on the list (which first of all I would even disagree that you would find many buyers in that category), I would say that when prices fall, a lot more of them can find something in 4s/cv/lj, leaving again a void of buyers into santee....Good luck with those $800k homes in Santee. Every market is discounted for a reason. $800k in Chula Vista I would say also wouldn't make any sense, as was proven during the bubble meltdown.

Submitted by AN on June 12, 2010 - 4:23pm.

Flu, I think bearishgurl will disagree with your $800k Chula statement. BTW, if you put that same house, view, and lot size in CV, RB, etc, I bet it would be well over $1m.

Submitted by bearishgurl on June 12, 2010 - 4:25pm.

SkyRanchOwner wrote:
$799,990 is for a FULLY furnished and UPGRADED home that is over 4,000 square feet in a culdesac with a great view in a great, unique community with NO mello roos! How much do you think it would cost to fully furnish over 4,000 square feet, in addition to all the upgraded wood trim, and a fully landscaped yard? It has probably around $200,000 in all compared to a regular new home!

Who in their right mind would want to wrap $200K of "furniture" and (BY?) "landscaping" into a 15 or 30 yr. loan?? Does this mean when the $100K+ of "furniture" wears out in ten years that the properties in Sky Ranch will sell for $100K less because a buyer won't want this furn. anymore??

SkyRanchOwner wrote:
Also, the 52 extension is moving well, and it will offer a nice easy commute to Sorrento Valley and La Jolla. You won't find that in Rancho Bernardo, Carmel Valley, La Jolla, or anywhere else. Ok, maybe Chula Vista, but that is a longer drive to Sorrento Valley and La Jolla. Plus, you have to pay a toll road fee each way.

SRO, I can't speak for Rancho Bernardo, but LJ and CV ARE ALREADY THERE OR PRACTICALLY THERE so why do these communities NEED a freeway to commute to themselves??

Submitted by SkyRanchOwner on June 12, 2010 - 5:07pm.

Mr. Jones, your comment on "you have done nothing more to further the discussion" is baseless, since you obviously haven't read all the pages in this thread.

flu, $800k is for the fully furnished, fully upgraded Eaglepointe model on a large lot.

Eaglepointe homes are selling in the low to mid $700s.

Crestview homes are selling in the low to mid $500s.

bearishgurl, it's not just furniture, it's all the upgraded flooring, woodwork, landscaping, etc. If you saw the house, you would realize that it's a deal for $799,990. Also, all being equal and comparing apples to apples, LJ and Carmel Valley are not there yet for the same size lot, with view, no neighbors across the street or looking into your backyard facing you, size of house, etc. Again, the Eaglepointe homes, the largest ones with the best views, are selling for low to mid $700s.

In addition, these prices are all post boom, so no fear of major losses due to house depreciation, like 4Closure Ranch and other areas.

Sky Ranch/Santee like Chula Vista and San Marcos have taken the largest hits, post boom. We've already had the losses occur out here, where areas like 4Closure Ranch in RB, Carmel Valley, Carlsbad, etc. is still undergoing a larger correction.

Submitted by bearishgurl on June 12, 2010 - 5:41pm.

SkyRanchOwner wrote:
. . . Also, all being equal and comparing apples to apples, LJ and Carmel Valley are not there yet for the same size lot, with view, no neighbors across the street or looking into your backyard facing you, size of house, etc. . .

SRO, I was referring to your statement about how easy the commute was on the 52 from Santee to LJ and SV. I stated that residents of LJ (already there) and CV (practically there) did not need a freeway to commute to themselves.

SRO, in CA, there is absolutely NO SUBSTITUTION for location and never will be. LOCATION trumps the dwelling, lot size, landscaping and furniture in a lesser location EVERY TIME. That's just the way it is.

I personally wouldn't prefer living in Carmel Valley or working in Sorrento Valley but both of those communities beat Santee HANDS DOWN in the location, location, location contest. This has been a long-accepted FACT in the local real estate community. Views of Gillespie Field, furniture, landscaping and bonus occasional rattlesnakes would not be able to promote Sky Ranch in this regard.

I want to add that I'm not saying the quality of life is better or worse in CV than Santee. This is subjective, IMO. What I AM saying is that the PROPERTY VALUES ARE LOWER in Santee than Carmel Valley, for a few very good reasons. But, if you are happy, then I am happy for you :)

Submitted by Zeitgeist on June 12, 2010 - 6:33pm.

I think Skyranch is trying to make the point about the amenities and upgrades and the night view. For old timers in San Diego County, Santee will always have an image problem. For those still in the market, it may be worth a second look. The schools are not bad and it is freeway close to most places. Like flu, the sticker shock for that area is a hard pill to swallow. Another issue is the size of the houses. I am not sure the builder did their homework when they put them there at those prices. However, if the builders are selling the models, they might be willing to make some close out deals for those who do not worry about a Santee address.

Submitted by flu on June 12, 2010 - 7:20pm.

SkyRanchOwner wrote:

flu, $800k is for the fully furnished, fully upgraded Eaglepointe model on a large lot.

And like I said, $200k in upgrades to dress up a pig in Burberry or Cartier clothes doesn't detract from the fact that the pig is still a pig.

Nor does dressing up a $30k Hyundai Genesis in $20k aftermarket accessories make the Genesis a comparable car to a Mercedes E350. People pay $50k to for Mercedes because it's a Mercedes, doesn't matter how "close" you think a $30k Genesis sedan with that extra $20k bling is "better". There is nothing wrong with a Hyundai Genesis, but people who would pay $50k for that Hyundai Genesis I would seriously have to question their financial judgement. Sorry, not meant to be a hijack. Just trying to draw an analogy here. Sorry, upgrades for approximately $200k on a Santee home still doesn't detract from the fact that the home is still in Santee.. These sort of upgrades no way you're going to recoup in a resale. I'd say a good portion of this is problem cannot be recouped at resale time and the original buyer who paid for this upgrade is going to lose bigtime.

It's the same thing for homes in Carmel Valley. I recall there was a home in PArdee Saratoga community that was selling for $1.3million, because of $300k in "upgrades"...Well, when push came to shove, those upgrades didn't mean didly...Because when it was all said an done, why would someone pay $1.3million for a Saratoga home when the upper scale home Derby Hills were around the same price...Some people get carried away with upgrades and end up upgrading their home above their home's "league", and yet still think it's "worth" that much.

Submitted by SkyRanchOwner on June 12, 2010 - 7:39pm.

I agree that location is a key factor in RE. Obviously people want to pay a premium for CV, LJ, RB, etc. All I'm trying to point out is that it's not all that bad out in Santee since the Mayor has worked hard to upgrade the city.

Look at this link:
http://www.santeelakes.com/pdfs/SANTEE%2...

Have you been to the New Town Center, or have you driven down Mission Gorge lately? I think if you have, you would see the changes. This isn't the same old Santee anymore, and once the 52 is finished, you'll get an affordable home with a decent/easy commute to the beach, Sorrento Valley, Fashion Valley, etc.

I think many people, who haven't been to Santee in awhile, will be extremely suprised. Once you drive up the hill to Sky Ranch, you see that the community is very nice with great views. Homes at the very top in Eaglepointe can see to the ocean!

Don't be so stuck on CV, RB, LJ, Carlsbad, etc. Yes, they are nice areas with great locations, but don't be suprised if you still see another 10-20% drop in average prices once the shadow inventory hits those areas. Sky Ranch is very new, so there is less chance of that here. These homes were built in 2008, after the boom/crazy times. Not that we couldn't see another 10% drop, it's just that there is less of a chance of that out here, in my opinion, because a majority of the correction has already taken place.

PS - If it was so bad, then why do the homes continue to sell for all three level homes, NorthStar, Crestview, and Eaglepointe?

Submitted by sdrealtor on June 12, 2010 - 8:18pm.

SRO
What you fail to understand is that Santee (like the other CV and san marcos) took bigger hits already ebcause they inflated at a much higher percentage than CV, RB, LJ and Carlsbad. They had to fall farther to restore the historical premium for better located communities. Sadly Sky Ranch has just as much if not more downside ahead of it because it is treading in new untested higher markets that the others have traded in solidly for decades.

Submitted by flu on June 12, 2010 - 9:09pm.

SkyRanchOwner wrote:

Don't be so stuck on CV, RB, LJ, Carlsbad, etc. Yes, they are nice areas with great locations, but don't be suprised if you still see another 10-20% drop in average prices once the shadow inventory hits those areas. Sky Ranch is very new, so there is less chance of that here. These homes were built in 2008, after the boom/crazy times. Not that we couldn't see another 10% drop, it's just that there is less of a chance of that out here, in my opinion, because a majority of the correction has already taken place.

Trust me, we're not stuck on these locations (at least I'm not). It's just logical if you look over the entire landscape of RE in San Diego..I think the disconnect here is your opinion is that Santee is Tier 1 RE in San Diego, comparable to those other mentioned areas.. It's not tier 1.Heck, I don't think neither 4S or Carmel Valley is tier 1 to begin with...LJ and DelMar probably are pretty close to tier 1....

Quote:

PS - If it was so bad, then why do the homes continue to sell for all three level homes, NorthStar, Crestview, and Eaglepointe?

Define "selling well" when it comes to these $800k homes? .And if they are selling well, aren't you contradicting yourself, by pointing out that this is a screaming deal at $790k because the price is now lower...Why are prices lower now if they are selling well?

Again, I think if you like Santee because it's Santee, then all more power to you. It's just it sounds a lot like trying to convince oneself/everyone else Santee is on par with LJ/CV/4S. Like a buyer of an Audi who spent less out the door and then added aftermarket mods and thinks it's a BMW M3. Sorry, not in the same league.

My own personal rule of thumb when it comes to home upgrades is: only do those upgrades whose total cost still keeps your home in the same league. The moment your upgrade costs + home costs start exceeding the next best league of homes, it's either time to sell your home and buy the other one OR suck up the cost of your upgrades, knowing you won't be able to recoup it at resale time.

Submitted by briansd1 on June 12, 2010 - 9:51pm.

I absolutely agree with flu and sdrealtor. The prices at Skyranch are simply out of proportion.

10 years from now, the upgrades will be worthless.

Did you guys notice who the earth-tone browns of late are getting so tiresome and dated?

I have always believed that historical proportions will return, if you have enough patience.

Submitted by flu on June 12, 2010 - 10:06pm.

Quote:

Yes, they are nice areas with great locations, but don't be suprised if you still see another 10-20% drop in average prices once the shadow inventory hits those areas. Sky Ranch is very new, so there is less chance of that here. These homes were built in 2008, after the boom/crazy times. Not that we couldn't see another 10% drop, it's just that there is less of a chance of that out here, in my opinion, because a majority of the correction has already taken place

Also, I don't follow your logic about why you think there are shadow inventories that hits in "those" areas but you don't think there would be any inventory issues in Santee. I think that it's pretty safe to say *most* people shopping for an $800k ish home are probably more likely to be looking in 4s/CV/LJish areas to begin with so demand is "those" areas are already higher relative to Santee at the same price point. If/when supply suddenly overruns demand, pushing prices down in those area, surrounding areas will be likewise pushed down...Where's the demand going to be for the $800k markets in Santee? Also, what makes you so think there isn't any funky financing going on in Santee. I'd surmise that especially in a newer area, with less established credibility of older owners, there is a higher risk of questionable financing and stability. BTW: several homes in 4S/CV have been build after 2008/2009 and in 2010 at those price points too...Also, in san diego, clearly we don't have a short supply of land.

Since you repeatedly ask if folks visited Santee, I have to ask, have you looked in detail at RE in those areas like 4S/LJ/CV to be making such comparisons?

Submitted by AN on June 12, 2010 - 10:38pm.

flu wrote:
Since you repeatedly ask if folks visited Santee, I have to ask, have you looked in detail at RE in those areas like 4S/LJ/CV to be making such comparisons?

I actually visited Sky Ranch/4S/LJ/CV/Stonebridge. At $800k, it's definitely the upper echelon of Santee. I don't think you will get bang for your buck there. However, the $699k one is much more reasonable. If it's $599k, then I think it would be a great deal. I think they all have their place. Just like Escondido and Chula Vista, Santee is trying to have pockets of high priced houses. You do get much more value for your money in Santee, Chula, Escondido, etc. The view is fantastic in Sky Ranch and the lot size is huge. So, you're trading zip code for large lot and a view. I do see the draw for these houses. flu, your car analogy is a little off. I think comparing a V8 Genesis to a 328i would be a much more appropriate analogy. Different stroke for different folks. Like you said, the majority won't buy a $800k+ house in Chula/Santee/Escondido. That's why the supply of those houses in those areas are much lower. However, for those who are in the minority who would consider those area, they get rewarded w/ value. Comparable house w/ similar lot size and view in Carmel Valley would be around $1.5M, in RB, probably around $1.3M. So, for some, lot size and view trump zip code.

Submitted by briansd1 on June 12, 2010 - 11:05pm.

AN wrote:
So, you're trading zip code for large lot and a view.

AN, I think that both you and flu have identified a key element here.

People shop across zip codes and even different types of housing.

I've had people point to inventory in one neighborhood or even one building (downtown) to say that certain areas are immune from price drops.

A couple looking at buying a condo downtown, might consider a townhouse in Mission Valley or even a single family house depending on the relative value.

I believe that most buyers look at what they can afford on a monthly basis, then they look at the relative value in different neighborhoods and zips. It's easy to do now thanks to Internet listings that show the monthly payment next to the list price.

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