Ocean View Under $600,000

Written by Jim the Realtor

March 15, 2012

They did get several offers, and accepted one today.

If it got close to $600,000, that’s only 20% off the 2006 sales price. A couple of years ago we thought we’d be seeing 50% discounts by now around SEH:

13 Comments

  1. Daniel

    20% off indeed, but it’s 6 years later (say 15% total inflation over that period) and with far lower mortgage rates… comes pretty close to an effective 50% haircut in carrying costs compared to incomes. Nominal prices can’t fall a lot further, I would guess.

  2. lgs

    That actually seems like it’s up a bit from the bottom. I almost bought a model match with the exact same view and similar add-ons a few doors down on Anchor in the mid-500s in 2007 at auction, but got cold feet when it went to $550k, I believe. I suppose I’m glad I didn’t buy since it’s gone nowhere in nearly 5 years, but it sure feels like the bottom.

  3. Equityvaporator

    There are listings in San Marcos for over 50% off 2006 price, just not in SEH. The biggest discount I see in the current listings is 40% nominal (I believe Jim was referring to nominal rather than real terms). This one supports the “superior property” theory I’ve seen posted here; nice, clean houses with ocean views still command a premium.

    $600k is approaching what I think is a fair price for that house, and I’m pretty damn bearish.

  4. Jay the Realtor wannabe

    Nice house, love the view!

  5. Marlo Turner

    10% premium for that view, SURE, in SAN MARCOS, maybe 20% or more in Carlsbad – I’m sorry but the stigma of SEH just isn’t worth it, I don’t care what you see from your rear windows. Sory for being such a negative Nelly, but travertine tile in the baths is SOOOOO early 2000’s and frankly, it cost nothing nowadays!

  6. Tom Stone

    EquityVaporator, I am in Sonoma County and the genuinely superior properties do bring a premium. There are never a lot of them, I get real tired of Lowe’s on steroids houses dropped on not very usable acreage.

  7. GettinReady

    Decent layout and nice price. Should go quick.

  8. Ocrenter

    The SEH stigma? It is quite a nice master planned community if you ask me.

  9. GameAgent

    Grass… a couple of grand? Are we talking landscaping or smoking?

  10. john

    Anchor isn’t the most prestigious street in SEH, just sayin’.

  11. Ray Ong

    Seems like a nice house. Sunset views may add sizzle to the sale, but it usually mean those rooms are uncomfortably warm or lots of glare. I have had two homes like that: no more. A southerly view is better. Travertine comes and goes out of fashion. I like it personally.

  12. REB

    Regarding travertine being sooooo 2000. What then,is “in” right now for bathrooms?

  13. Jeeman

    “Regarding travertine being sooooo 2000. What then,is “in” right now for bathrooms?

    REB | March 16th, 2012 at 7:08 pm”

    My question exactly. I’d like to know the current trend, and why JtR is considered stuck in the 2000s? 🙂

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