Ocean View Under $600,000

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

Daniel on March 15, 2012 at 2:57 pm

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.

lgs on March 15, 2012 at 3:10 pm

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.

Equityvaporator on March 15, 2012 at 3:34 pm

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.

Jay the Realtor wannabe on March 15, 2012 at 3:39 pm

Nice house, love the view!

Marlo Turner on March 15, 2012 at 5:52 pm

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!

Tom Stone on March 15, 2012 at 5:55 pm

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.

GettinReady on March 15, 2012 at 6:57 pm

Decent layout and nice price. Should go quick.

Ocrenter on March 15, 2012 at 7:23 pm

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

GameAgent on March 15, 2012 at 8:41 pm

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

john on March 16, 2012 at 8:11 am

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

Ray Ong on March 16, 2012 at 3:59 pm

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.