The last chart showed that the best stats for $-per-sf were in Vista zips 92083 and 92084, at $162/sf and $160/sf, respectively. Also noteworthy was that their April, 2009 sales were both at or above 2005’s numbers.
Are there good deals in Vista?
We’ve seen a few of the dumps, here’s a decent REO on the north side of town:
Where’s the ice cream truck?
‘Elliot Eisenberg, senior economist with the National Association of Home Builders, says that after federal officials’ slow reaction to the initial problems of the housing markets, it’s especially important they be prepared to move quickly to address the next problem. The czar idea is being supported by Eisenberg having started in Tucson from Roger Yohem, vice president of the Southern Arizona Home Builders Association.
‘We have two immediate problems ahead of us,’ Eisenberg said. ‘First, we don’t have the infrastructure for the millions of loans that need to be reworked and second, loan default numbers will be going up rapidly in the next six to seven months. That’s why we have to act quickly.’
Not bad, not bad. You’ve definitely given me a different perspective on Vista… at least one part of it! 🙂
Couple get hefty prison sentences for mortgage fraud.
http://www.mercurynews.com/realestatenews/ci_12301341?nclick_check=1
By Pete Carey
Mercury News
Posted: 05/05/2009
Couple get hefty prison sentences for mortgage fraud.
In the heyday of the housing boom, Summit Mortgage One of Milpitas did a brisk business helping mostly Spanish-speaking clients obtain mortgages at low interest rates.
But complaints drew investigations and a criminal prosecution, and Monday the San Jose couple who ran Summit received hefty prison sentences.
They were convicted in October of running a scheme that involved lying to five banks about borrowers’ ability to repay $8 million in subprime loans, and lying to borrowers about the terms of the loans.
Santa Clara County Superior Court Judge Vincent Chiarello sentenced Esperanza Valverde, 41, to 23 years and 8 months, and her husband, Herman Covarrubias, also 41, to 19 years and 8 months in prison. The couple was ordered to pay more than $900,000 in restitution to victims
Speaking of fraud and prison sentences… what’s up with she-who-shall-not-be-named? And did the unemployed crazy lady who was running the “Cocapelli Community Center” or whatever it was get foreclosed on? Enquiring minds want to know!
Nice house, especially the big windows in the entry, but I have one question about the design: Why do three of the four bedrooms have their own bath, and there is a fourth bath next to the fourth bedroom, but to get from the fourth bedroom to the fourth bath, you have to go into the hall? Why isn’t it directly connected like the other three bedrooms? You have the half bath downstairs for guests, so that ain’t it. Just an odd design choice.
Good looking house. If it was 2500 feet on a half acre I’d want to buy.
3800 is an awful lot of house for a family of 4.
I lived in Vista – twice. It does has some nice parts. You can certainly do get more for your money there.
The only 2500 sq ft houses anybody is building these days are crap like those silly zero lot line Manzanita Trail things that Jim looked at two days ago (and that cost more than this does). Used to be that 2500 sq ft was huge-now it’s a “starter house”. Yet as the houses have been getting larger, the lots have been getting smaller.
Jenae is broker of a discount real estate company in Mission Valley, and according to DRE records, has one agent working for her who has had his license less than a year. He knows how to pick a mentor.
The crack-a-pelli lady had her trustee sale postponed again today, now slated for June 2nd. I drive by her house every day – I should take a video!
Chrisg – you just need more kids!
I have four Padres tickets each for tomorrow (Wednesday) night, and Thursday’s day game. Peavy Wednesday, Chris Young Thursday.
If you can go, email me at jim@jimklinge.com
Astroglide, a well-known personal lubricant, is manufactured in Vista by BioFilms, Inc.
http://en.wikipedia.org/wiki/Vista,_California
From wiki:
Vista was listed as the seventh-best place in the United States for family life, based on factors such as jobs and business opportunities, education, climate, and cost-of-living in a 2008 review.
Vista houses both the courthouse and the jail for northern San Diego County.
Vista and nearby San Marcos had a large Japanese American community since the late 1800s. Older sections of Vista are predominantly Latino (Mexicans in particular). And there are several thousand American Jews now living in Vista, a small part of the community’s multiplicity of religions and cultures. Demographers[who?] stated Vista has a “minority-majority” population as Non-Hispanic whites are under half the city’s population.
Chrisg,
You know the rule — a family expands to fill all available space.
“If you buy it, they will come”
Nice house.Watch out for brush fires.Saw the arnold on news last night saying the ballot measures don’t pass he will have to close fire stations.What a scam.
Really, one stories have better comps? That’s an odd factoid. Where I live now, you can’t give ranch houses (a/k/a “Ramblers”) away fast enough.
One stories definitely have higher values. Last time we house-hunted there was up to a $100K premium on single stories house of the same square footage as a two story.
Thanks for the fairness of the video, Jim. I don’t live in Vista but have considered it several times…NE Vista in particular has some very nice homes.
I love this home and would actually consider it if I were in the market. Biggest drawback for me is that sideways garage that eats up the front yard and virtually destroys the look.
ah, thanks for the demographic tour of vista, Jim. I thought it was kinda odd that there’s a Japanese Buddhist Temple in a predominately hispanic city, now I know.
Vista E 92083 28, 11, 31 $326 $209 $162
Vista N 92084 35, 17, 35 $321 $200 $160
btw, Vista E and N are the only zips on your survey that flipped a complete 50% from peak!
Jim I really did enjoy living in Shadowridge in Vista. I have lived in many foreign countries and speak many languages. I love diversity.
I am not speaking from a statistical point of view or API scores(which aren’t that bad). Many people in my area ended up pulling their kids out of school or were VERY unhappy with the schools. It was a difficult environment. They either home schooled or did private school. I am not knocking the area. I am just passing on advice that someone may want to consider the school situation before they make a huge investment.
Vista S 44, 13, 17 $301 $238 $190
Vista E 28, 11, 31 $326 $209 $162
Vista N 35, 17, 35 $321 $200 $160
The last column represents the number of registered sex offenders in the area from the Megan’s Law website. IIt is always a good idea to run the property address and zip code to see if there are any sex offenders living in your ‘hood and possibly near any public areas/schools.
oops here is the last column:
(Vista S) 13
(Vista E) 62
(Vista N) 38
Vista! Its worth a look!
Anyone still investing in gold?
Longtime lurker and native Vistan. Felt like I needed to chime in here. Grew up around the corner from the “wreck room” Jim previewed a couple days ago. Actually had a friend that lived there before it became what it is today. Still an okay area, very modest homes but low crime. Just bought a place in Feb not too far from the one in this vid. Custom built 2200 sf mild fixer on half acre for 350k. Vista is a very diverse place: most of 92083 is Tijuana North, a good part of 92084 is like a lesser Rancho Santa Fe, and 92081 (Shadowridge) is the prototype for master planned communities. Vista’s always worth a look, but it’s real hit-or-miss.
Something else to note – Vista probably has the best weather in the county. The coast is fogged in, Escondido is too hot, but Vista is really nice.
I live in San Marcos, and when I drive to the beach in June, I can see the wall of fog just past College on the 78. Nothing but sunshine in Vista.
Why drive to the beach?
Vista has a lot of hidden gems. I’m currently renting in 92081 in a fabulous small gated community built in 2001/2002 (Vista Hidden Meadows). There has been a large number of short sales and REOs in the neighborhood, with current listings on 3600sq/ft homes in the low $500’s/high $400’s. Great deal IMO on plans very similar to the one Jim showed here on 1/2 acre lots with mountain views, etc. Couldn’t touch the value/price in Carlsbad/Encinitas. Always good to think ooutsite the box.
We’ve been renting in Vista South (Shadowridge) for a decade, and now bought here. I second the remark about the weather: Vista is right at the point where the wall of fog breaks up. To me, it’s a great climate. (We have also lived in C-bad, 3 miles from the beach (cold & foggy), as well as in Escondido (hellish heat.)
North Vista has some nice new homes at good prices, but I’m not sure about the schools. Also, there are some pretty rough spots, once you cross over the 78. Schools in Shawdowridge come with APIs of 7 – 9. An extra 200 Grand buys you a score of 10 in Carlsbad, but we felt 9 was close enough.
To us, Shadowridge feels comfy, once you get over the fact it’s a planned, tract home kind of thing. There are tons of parks and playgrounds. Real people. Non-pretentious.
Non-pretentious +2
Jim,
Who is the buyer for something like this? Seems too far to commute unless you’re working in Escondido.
Commuting is expected for most – sad but true. Some are willing to pay a premium to limit drive time. Average commute hours per year is between 100 – 200 hrs. Throw in drives to grocery, hardware, department stores and that is a alot of hours and inconvenience.
There is a large industrial complex that straddles north Carlsbad/south-east Vista (off of Melrose) with tons of high-tech, bio-tech, and manufacturing. This is where my company is located, and my commute is 6 minutes door to door without touching a freeway.