In the beginning there were doubters who thought that Pacific Station could be a tough sale. With grocery trucks delivering early in the morning, traffic all day-every day, and partying at night, buyers had good reasons to be concerned.
But once Concordia Homes took over and upgraded the homes to appeal to the upper crust, sales started popping:
That whole area has tons of potential since it’s really under-built in my opinion. But I couldn’t see myself living in that specific location. Maybe a good investment property for cashflow if you’ve got $700K laying around? Glad they moved them all in this economy.
If this market holds, the accuracy of Bill’s call will be epic.
Cool video. Can’t possibly imagine buying something like that for the price… but everyone has their own set of needs to fill. Congrats to them to urbanizing downtown Encinitas.
Great job, JTR, THANKS! You provide a wonderful service with this web site, I hope buyers and sellers are paying attention.
Stocks have risen tremendously in the last three years, as have salaries of young “hot commodity” professionals. At the same time Banks are paying how much interest to “savers”? Any homeowners out there price quality materials and workmanship recently? It’s certainly not cheap to upgrade.
Last, where are we, and where else would we rather live? Sure the train tracks are right there, but is there comparable weather, work & lifestyle opportunities ANYWHERE else in the country?
Time for a reality check for a whole lot of nattering nabobs of negativism if I heard JTR correctly – 50% cash buyers @ close to $600/’ with $500. hoa fees!
There are a wlole lot more reasons to buy than getting a “steal”.
doug s, I don’t think we’re being negative as much as skeptical. People can spend their money however they like, but I don’t think there’s a disagreement – that’s not a premiere location in Encinitas.
I for one disagree. It’s an awesome location in Encinitas – close to shopping, restaurants, beaches, freeway, the “action.” It’s fun and hopping and alive.
I don’t particularly care for those units and the price is nuts, but to each her own.
I don’t know I guess I assumed it’s universally accepted that beachfront is where wealthy people want to be in NC… my bad.
that’s the way it should be buyers & sellers making up their own minds! You have to love the questions JTR asked, wonderful. There’s only one more I’d like to hear answered. How many of the 42 buyers are pretty new to the area, maybe even from out of the state?
JtR, was this FHA approved? Curious outside the cash buyers how these were financed.