REIdiot
Posts:7
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| 03/31/2008 2:23 AM |
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| A Little dip in Inventory - was running around 60+ active listings - now at 54. Much more resilient than many areas. Sold prices are still high for the size and age of the homes. |
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REIdiot
Posts:7
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| 06/27/2008 8:59 PM |
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| down to 49 avail |
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LoonyQT
Posts:902
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| 06/27/2008 9:25 PM |
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There are some interesting listings in San Carlos... (see the overpriced hose thread)
Anyways, I like this recent close:
06/12/2008 7484 Rondel Ct 4/3 2,100 $655,000 $460,893 -29.63% $219
nearly 30% off the listing price to sell |
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REIdiot
Posts:7
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| 09/02/2008 1:45 PM |
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| Down to 32 SFRs - Thats a big dip from March. I love it -- all the buyers that are waiting for san carlos to be priced like Detriot are missing the boat. Check the North county (Oceanside or Fallbrook) still lots of inventory and deals there. |
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Brian
Posts:2257
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| 09/02/2008 1:51 PM |
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| Does San Carlos qualify as a "nice area" that is insulated from price drops? |
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NCgirl
Posts:208
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| 09/02/2008 2:22 PM |
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Posted By Brian on 09/02/2008 1:51 PM
Does San Carlos qualify as a "nice area" that is insulated from price drops?
You should forget your downtown condo dream and get a nice little condo in San Carlos.
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mydogneedsayard
Posts:23
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| 09/02/2008 7:10 PM |
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| I grew up there and spit out my Diet Coke laughing when I read Brian's comment. |
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REIdiot
Posts:7
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| 09/11/2008 4:18 AM |
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| Down to twenty nine SFRs on the MLS |
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denglish
Posts:27
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| 09/12/2008 9:44 AM |
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This one is near and dear to my heart since I am looking in this area, so I thought I would weigh in.
One interesting thing is that listing have dropped quickly over the summer in San Carlos, but generally held steady in nearby zips like Del Cerro and Tierrasanta. So what's going on? Lower end listings ($300-400k) are selling, since I think folks realize you get decent schools and a central location for a good price here.
Nicer houses (2000 sq. ft, newer or closer to Lake Murray, priced $600k+) are mostly just not selling at all. I have seen a number of such houses go off market unsold. I even put an offer on one at about 8% below list price. It never sold despite being listed all summer went up for rent. Why was the owner stubborn? the place across the street went for about 15% more in 2006, so he already thought his price was right. Clearly the market did not. But he's "not going to give it away!". Lots of other folks are long time owners and don't want to sell in this market.
The few sales that have occurred at the "higher end" of San Carlos have generally been 10-15% below peak, and I expect future sales will be at or below this level. But there will be no "crash" here like in Chula Vista, since there will never be a flood of foreclosures coming for sale. But I’m not expecting a crash. I’m just expecting a return to the days when a nice San Carlos/Del Cerro house could actually be bought by a family with 2x the area median household income.
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NCgirl
Posts:208
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| 09/12/2008 11:42 AM |
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| Del Cerro will probably hold up pretty well. That area was were all the "rich Kids" lived when I was growing up ,( PHHS grad here) the houses up there are older but have great lot szes and cool funky 70's layouts that are fun to remodel . Those crummy houses on all the "lake" streets east of lake Murray blvd (where I grew up) in San Carlos will tank..seems like they already are. Pershing junior high is horrible, horrible. If you are in Allied Gardens or Del Cerro your tween can go to Lewis which is much better, be careful where you buy in San Carlos. |
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denglish
Posts:27
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| 09/17/2008 2:09 PM |
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Here is a San Carlos home closing at 26% off Jan. 2005 price. While the location isn't the best, its sizable, looks like the maintaince is above average, and it has a nice yard. All in all, a pretty good deal at $500k.
http://www.sdlookup.com/Property-6D52DB9A-6398_Lake_Arrowhead_Dr_San_Diego_CA_92119
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benwah
Posts:2
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| 09/17/2008 6:53 PM |
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| Why do you think Pershing Middle School is "horrible, horrible"? |
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NCgirl
Posts:208
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| 09/17/2008 7:32 PM |
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| Because I went there and many years after that my mom did a long term sub there. She said it was horrible and felt sorry that she sent me there. Awful school in my opinion. |
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mydogneedsayard
Posts:23
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| 09/17/2008 8:16 PM |
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| I went to Pershing too. I agree horrible! But that was in the 1970s. |
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