“They’re all spoken for”, in spite of the odds:
Jim Klinge
Klinge Realty Group
Broker-Associate, Compass
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
- 682 S. Coast Hwy 101, Suite #110
Encinitas, CA 92024 - (858) 997-3801 call or text
- klingerealty@gmail.com
CA DRE #01527365, CA DRE #00873197
This is just me, but if I’m buying an “estate” I expect my front door not to be flanked by garages….
Just sayin’.
With a lot that large, there is simply no excuse for having those garages out front where they kill the curb appeal.
I inquired, the agent told me they have “reservations” on all of them but want back up offers – I think they are trying to create a sense of urgency – hurry up and buy one before you miss out! Those homes are huge, very showy! But they’re on terrible lots and something just smells fishy about what’s going on there. They also would’t disclose who was building the homes on the remaining empty lots they are selling.
I think swallows’ nests are protected by law. Might get in trouble for knocking those down. Plus, it’s mean.
A fitting end – Barratt has to spend money to properly “re-locate” the swallows before they can sell the house to satisy creditors!
On the houses to be built, she told me that they are going to build the same Barratt houses that were intended to go on each of the five lots left.
I agree with WC Varones. I know they are on Camp Pendleton, if they are 1/3 of the way completed or more (or something like that).
Those garages are hilarious. Who the heck buys these houses? What is the buyer profile?
How much does that work out to per Lego block?
all ‘sold’ at 1.5mm…i’ve got a bridge in Coronado for sale too..any takers.
how is this for a scenario: Sale of the finished homes to family members at the high price which sets the comps high for the to be built homes to also sell high, then 2 years down the road resell the original homes (based on high fake comps) and get your profits tax free…
Just sayin’
Monkey see – monkey do (if they’ll lend to the 2nd monkey!).
Gotta echo Art’s sentiments. That place screams grand and cheap at the same time. As Dolly Parton said, “It costs a lot money to look this cheap.”
I can’t believe those free-loading birds, living there for 2 years without making a single payment…
In October, I saw a much smaller house in Del Mar on the east side of Mercado Dr that has a front similar to that. The front was all flat, and didn’t have the bird haven. We were about to $900k, and go up to $925k, but someone else swooped in and took it for a mil.
I’m a car guy and I don’t even want garages flanking my front door that closely. From the first time I saw those houses 2 years ago, I’ve shaken my head.
I just don’t understand.
PS – at 4:57 it sounds like you ran over a kid!
“I can’t believe those free-loading birds, living there for 2 years without making a single payment…” (Jeeman)
And I thought I only needed “keyboard insurance” with some of Jim’s quips…
clearfund,
Your illustration has played out as you described in other tracts (Orchidia), and nobody is immune. Do you think Pardee or other big builders would undercut previous sales if they had to? Probably, that’s business. All buyers could see lower sales around them later.
I know the new magno builders – if anyone reading this is a potential buyer, I will vouch for them – they are of the highest integrity. I don’t particularly like how they’ve sold these, but if they don’t mind selling into a very limited buyer pool, then that’s their business.
Jim could you explain more detail of what went down at MagmaBressi on the sale side? Still seems a bit foggy on the details/facts…
Was that one neighbor a house for physically disabled people…or mentally disabled? How many in the house?
What is the zoning for “group” homes (of any sort) anyway?
LM – The group home was pitced as a home for adult males with “various degrees of autism..” yet no defined constraints on the types of ‘mental’ issues that will be housed here… whatever that means.
The neighborhood is full of kids from 1-8 yrs old so there was a justifiable concern over safety as the group somewhat bought the house, and then disclosed what they were doing. Act first, then ask for forgiveness after the fact type of approach. sort of a ‘too bad homeowners, we’re here and there is nothing you can do…so eat it!!” mentality.
While the odds are that nothing negative will occur, would you pay $1mm+ to live near that houseput your 3 year old girl into an ‘unknown/unpredicatable’ physical environment??? Hence many of the ripple effects/concerns..
As for zoning, without knowing the technical details, the State law allows group home of 6, or fewer, individuals essentially anywhere and the City/residents cannot overturn it.
Since its a state law, no Use Permits or zoning are needed. Very similar to a recent post by Jim re: Nantucket and the ‘density bonus’ program which is State mandated and supercedes any local law.
plus the City of Carlsbad’s fingerprints are all over that deal.
Sales price = $1,000,000 11/08
1st mortgage = $795,000 lender: City of Carlsbad
2nd mortgage = $335,000 lender: Discovery Bank
hmmm..$1.15mm+?- for 6 people = nearly $200k/person…couldhave bought 6 individual houses in Riverside on the same street for that price
$800k from the City, but no money for the Poinsettia park pool/acquatic center for the local kids of tax payers to enjoy…good use of our tax dollars Carlsbad!!!!
Well, it is a loan not a grant, so in theory the city eventually gets the money back, with interest. Maybe.
And $200k can get you a very nice place here in Riverside. Even $100k will get you a 3/1 with a thousand square feet on a 7,000 sq ft lot. Heck, I’ve seen a true estate (three houses, a pool, parking for twenty four cars, and a tennis court on 1.7 acres) sell for $307k:
http://www.redfin.com/CA/Riverside/2825-Floral-Ave-92507/home/5055392
http://www.zillow.com/homedetails/2825-Floral-Ave-Riverside-CA-92507/17869650_zpid/
Somebody got one hell of a deal there.