The foreclosure activity around Carmel Valley, Del Mar, and Solana Beach has been sluggish, to say the least. The numbers of SFRs on the auction lists are low, and they’re filled with loan modders and current short sellers. With only a handful getting foreclosed each month, the overall inventory of attractively-priced quality homes is discouraging.
Here’s a brief youtube tour – the first house is scheduled for trustee sale on April 23, with an opening bid of $1,327,500, and the other one on the same street had an opening bid of $1,257,031. The other four bank-owned homes had opening bids of $967,816 (on Winstanley), $835,000, $610,000 (on Barbara), and $1,900,000:
Eyed the Punta Baja house when it hit the market. 2700 sqft on 1/4 acre sounds pretty good until you see the condition of the house. Still cheap compared to what else is out there. Those lower priced homes on the Santa streets get picked up quickly indeed. Way better deal than wtf valley imo.
Unless mandated, nobody is putting anything on the market at this point. Somehow I always find myself in the epicenter of expense.
“Frustration Premium”
I like it. I can see this phrase catching on quickly.
If NOD’s are going up but actual foreclosures are going down the number deadbeats living for free is going up. Very frustrating to those of us that pay our bills.
I wasn’t too terribly surprised nobody bought that one for $1.9m. Nothing real special about the house, and the risk is too great on a property that expensive, even if it is under market.
HEY JIM!!! That 6.9 in Baja must’ve been fun around San Diego. What say you?
I was looking at those cliffs and was wondering about severe erosion, earthquakes and tsunamis turning a million dollar parcel of land into beach sand.
And then you have a 6.9 earthquake today.
I’d rather live on high ground.
Rock ‘n roll!
That house still at the top of the cliff?
That house still at the top of the cliff?
Better question might be “where is the cliff now?”
I was driving the Chevy at the time, so I didn’t feel it.
But wifey said it was a “steady shaker that lasted a while!”.
I was in a car when the Whittier quake hit… thought the whole front end had suddenly gone out until Rick Dees said “We’re having an earthquake” on the radio.
p.s.: Glad to see the truck back in action!
My dogs didn’t warn me at all…they just looked at me with a what hell is going on look.
We were having an Easter party when the quake hit. We each thought there was something wrong with us or that we had a few too many beers! We could feel our bodies move very very slightly from side to side, but it was gentle enough that we weren’t sure if it was us or an earthquake.
Hi Jim,
Just wanted to check in — and thank you for the tour of Solana Beach/Del Mar. It was good to hear your POV after a long break from your site. I hope all is well. Here’s to a great 2010 for you and your family.
BAM