This house is within the vaunted 92130 zip code, but on the east side and in the Poway School District – where you can save a bundle of money, comparatively.
Similar houses that are further west (and half the distance to the I-5) and in the DM/SB school districts are at least 10% to 20% higher-priced – yet this isn’t selling (DOM = 43). Apparently the inferior-home gap needs to grow:
Our new listing in Carmel Valley – open 12-3pm this weekend! ($367/sf)
http://www.redfin.com/CA/San-Diego/12448-Cavallo-St-92130/home/4513497
An example of what I mean when the market turns squishy – the inferior homes have more trouble selling because the gap between them and superior homes is widening :
This agent said that he does professional videos of his listings, but doesn’t share them with agents – they are for his clients only.
Isn’t it in the seller’s best interest….oh never mind.
Last month the Carmel Valley average cost-per-sf was $380/sf – last September it was $326/sf.
The new homes being sold in Carmel Valley are about the best thing that could happen for the resale market.
Buyers get to secure their place on ‘the list’, and use it as a marker for resale comparisons over the next 3-6 months while waiting for their number to come up.
But it’s a long wait – if you are selected to purchase in the latest phase, then closings are scheduled for June, 2014. Resales offer occupancy months earlier, and for anxious buyers that is a big plus. Just the certainty of buying now vs. maybe-late-2014-or-2015 is worth something – probably 5% to 10%.
Pardee benefits too; they sell every house before they break ground, and can raise the prices steadily along the way:
A fairly standard offering of a CV McMansion – most of which have been selling with little problem, though $2,000,000 seems to be the ceiling:
This is what it has come to in the 92130.
Currently there are 30 detached-homes listed under $1,000,000, and most are either detached condos, old junkers, or in the Poway School District – none of which are a bad thing. But if you want to buy a decent, regular house in the prime Carmel Valley area, you can plan on spending at least a million, or be fleet-a-foot:
You can tell that this camera has an auto-adjust feature to increase exposure – look at how much light is coming through the windows. The house was darker in person:
This is today’s entry-level special for Carmel Valley (this is the seventh-cheapest listing out of 113 houses for sale in the 92130):
This Carmel Valley house with minimal upgrades (refaced kitchen cabinets) but nice exterior was listed on May 31st just as the frenzy was peaking. It listed on the range $999,000 – $1,099,000, and the buyers snapped it up during the first six days on market (and paid cash):
http://www.sdlookup.com/MLS-130028112-12608_Prego_Ct_San_Diego_CA_92130
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
CA DRE #01527365, CA DRE #00873197
