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:
Jim Klinge
Klinge Realty Group
Broker-Associate, Compass
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- 682 S. Coast Hwy 101, Suite #110
Encinitas, CA 92024 - (858) 997-3801 call or text
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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.
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.
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.
Nice house, love the view!
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!
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.
Decent layout and nice price. Should go quick.
The SEH stigma? It is quite a nice master planned community if you ask me.
Grass… a couple of grand? Are we talking landscaping or smoking?
Anchor isn’t the most prestigious street in SEH, just sayin’.
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.
Regarding travertine being sooooo 2000. What then,is “in” right now for bathrooms?
“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? 🙂