It doesn’t take much to slip out of favor with today’s buyers. Thirty percent of the homes in this tract sold between $1,000,000, and $1,500,000 at the peak.
Now they are two listings in the $800,000s.
Be cautious when considering tracts that are more than 5-10 years old. A street with no parking, skinny lots, and dated improvements are all that’s needed to run into trouble. Then add to the equation that 55% of the current owners here paid less than $700,000:
The price on this house was reduced to $875,000 as video was uploading!
One of the things I’ve always wanted is to see the listing history of houses in addition to the price history. Now a lot of that is available on Zillow.
This house originally sold for $756K in 2000. Then it was listed for $1.3M in 2007/2008, and now listed again in 2010 for $950K->$875K.
http://www.zillow.com/homedetails/3775-Sage-Canyon-Dr-Encinitas-CA-92024/16726195_zpid/
We’re not quite to 2000 pricing but we’re getting there…
That looks like a good deal to me. Most of the sage canyon is going to get major road noise.
greenlander…figure 3% annual appreciation from 2000…what does that get you? 2000 prices in 2011 is extremely optimistic, what with all the government efforts to inflate, etc.
greenlander-IMHO, Redfin’s data is much better than Zillow’s. For example, Zillow has the older list price and misses the fact that the house was foreclosed in Sept.
http://www.redfin.com/CA/Encinitas/3775-Sage-Canyon-Dr-92024/home/4156621
I think a similar thing will happen at the Copperwood development at La Costa Oaks