Lol, $700+/sqft in 92130 ???

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Submitted by flu on December 18, 2018 - 3:59am

um....There's got to be some mistake.

https://www.redfin.com/CA/San-Diego/5992...

Is the builder throwing in a Porsche GT3 or a Tesla Model S P100D with the purchase?

If the builder gets this asking price, the buyer will have spent roughly the same I spent for my home back in The Great Recession timeframe in the same zip, but with only 45% of the square footage and an additional $300/month in HOA. Forget about that his/her/their loan rate (if there is a mortgage) will also be about 1.5-2% higher I think...

How is selling, renting, and waiting for a downturn to re-buy really suppose to work out for the long term?

cuckoo cuckoo cuckoo

Submitted by The-Shoveler on December 18, 2018 - 7:54am.

"How is selling, renting, and waiting for a downturn to re-buy really suppose to work out for the long term?"

Unless you have once in a life time drastic (50% or greater) downturn occur I could never see the logic in selling and renting/waiting for the next downturn, rent + commissions will eat most of the profit not to mention moving costs, hassles and most important time.

Maybe if you start out with "2" LOL.

Other than that I think it would be a lot of work and lost time for not much.

anyway IMO.

Submitted by FlyerInHi on December 18, 2018 - 1:03pm.

You have to factor inflation and opportunity costs over more than a decade, It’s never justifiable to buy in a bubble.

I’m not selling to wait and re-buy because my properties are cash flowing nicely and they are remodeled and setup for rental. It’s not worth doing so on the cheaper stuff. But, I’m not going to buy high now especially when the winds of recessions are blowing.

Submitted by gzz on December 18, 2018 - 3:23pm.

I hate the look and feel of those three story suburban stucco apartment blocks. There are many along Friars Rd. too. The interiors are nice of course, but they are ugly and claustrophobic in person. Parking is always scarce and tight.

That complex in particular is really actively ugly.

If you need more density than single family or duplexes, build towers with green space around them and parking underground.

Townhouse areas can be really charming, but they need to be in an urban type grid and look separate from each other. They also can't be 95% blank stucco with small irregular windows.

I blame the city more than the developer. They set the rules, and it seems oppressively ugly beige stucco blocks is what they economically incentivize.

Meanwhile, most of the new towers downtown look nice. So does most infill around the beach. The new Veer complex in OB looks pretty nice and is the same basic format of 2-3 bedroom townhouses with parking at the bottom.

Submitted by gzz on December 18, 2018 - 3:30pm.

What's with those tiny roof-deck looking things at the top of the units? For roof repair access? Why are they irregularly spaced and three different designs but the same tiny size?

They remind me of a person wearing a comically small hat.

https://vice.typepad.com/.a/6a00d8341c62...

If it is a roof deck, can you see anything other than the giant arterial street? Can you fit more than two small chairs?

Submitted by gzz on December 18, 2018 - 3:40pm.

Flu, looks like that is the single most expensive PPSF in all of Carmel Valley except for a house on an 9-acre lot.

This house is twice as big but only 10% more expensive:

https://www.sdlookup.com/MLS-180066499-7...

It says "furniture included." I think the target is a mainland Chinese guy who wants a safer place for his wife and one child with a minimum of set-up and fuss and good school district. Brand new construction and furnished fits the bill.

The listing agent has a large all-Chinese-surname staff.

http://sandiegosunriserealty.blogspot.com/

Submitted by flu on December 18, 2018 - 4:29pm.

gzz wrote:
Flu, looks like that is the single most expensive PPSF in all of Carmel Valley except for a house on an 9-acre lot.

This house is twice as big but only 10% more expensive:

https://www.sdlookup.com/MLS-180066499-7...

It says "furniture included." I think the target is a mainland Chinese guy who wants a safer place for his wife and one child with a minimum of set-up and fuss and good school district. Brand new construction and furnished fits the bill.

The listing agent has a large all-Chinese-surname staff.

http://sandiegosunriserealty.blogspot.com/

Mainland people wouldn't buy townhouse at this price. Mainland guy would rather spend $1million+ and decorate the house with bargain basement ikea particle board furniture or have no furniture. This home screams bad Feng Shui.

The only other thing I can think of is school district. That Torrey Highland home might be outside Pacific Trails and Canyon Crest Academy. It think that might explain for some of thr price disparity.But even so, that condo is over the top. Canyon Crest is by lottery, and Pacific Trails is by petition to anyone in the San Dieguito district, and it's not at capacity (yet). So there isn't really a need to be in PHR area to be eligible for both of those schools.

Submitted by gzz on December 18, 2018 - 5:25pm.

Is there really such a difference between the various greater Del Mar area public schools?

Submitted by flu on December 18, 2018 - 6:48pm.

gzz wrote:
Is there really such a difference between the various greater Del Mar area public schools?

not really imho. and there's probably not much difference between Carmel valley and Poway like Westview.

But for some reason, it's a good story.

I think boundary is such that Torrey Del Mar goes to Poway. I think ,not sure....maybe that's why the price for a similar sized house drops a bit versus a comparable home in Pacific Highland Ranch...maybe.

Submitted by flu on December 18, 2018 - 6:47pm.

.

Submitted by FlyerInHi on December 19, 2018 - 1:09am.

gzz, I like civita in mission valley. I think the architecture is better than the very pastiche Spanish/Tuscan look.

Submitted by FlyerInHi on December 19, 2018 - 9:23am.

flu wrote:

This home screams bad Feng Shui.

I so agree. Everything is chunky and heavy looking. Someone living there will have bad health because of bad Feng shui.

If you look at new construction in China now, the interior design is modern and light. They have adapted German design, especially for kitchen cabinets and bedroom closets. Very high tech!
I have a Chinese friend who is a Kohler dealer in China (but they now live in USA) so they tell me about house design.

Submitted by gzz on December 19, 2018 - 9:57am.

Civita is still ugly midrise stucco blocks, but I'll concede is the best looking use of the style in San Diego large complexes. Much nicer than flu's overpriced CV townhouse.

I hope the Qualcomm development is midrise stucco block free. Needs some Bosa style towers with lots of glass and steel and lots of green park space.

Submitted by flu on December 19, 2018 - 10:45am.

I need the planning committee to defer any sort of development at Qualcomm (SDCCU) Stadium for about 2 years so all the car clubs can still run arguably the best autocrosses in this SoCal, if not this state.

Otherwise, my $2k Lemons car with $10k mods dedicated for autocrossing and my $30k street car with $10k in mods for to make it autocross-able both become pretty useless and I'll need to get another car that is track focused and start running on a real track lol. Then again, Toyota is releasing the Supra soon... heh heh. never mind, it shares power trains with a BMW Z4... no thanks.

Submitted by FlyerInHi on December 19, 2018 - 10:47am.

gzz wrote:
Civita is still ugly midrise stucco blocks, but I'll concede is the best looking use of the style in San Diego large complexes. Much nicer than flu's overpriced CV townhouse.

I hope the Qualcomm development is midrise stucco block free. Needs some Bosa style towers with lots of glass and steel and lots of green park space.

I agree on both counts. I think we should have glass high rises above the stores in Mission and Fashion Valley. With the trolley to UCSD and SDSU, it would be perfect for students, faculty and tech workers in the Golden Triangle.

Submitted by Myriad on December 19, 2018 - 11:38am.

FlyerInHi wrote:

I agree on both counts. I think we should have glass high rises above the stores in Mission and Fashion Valley. With the trolley to UCSD and SDSU, it would be perfect for students, faculty and tech workers in the Golden Triangle.

That's the truth. High rises in places connected to mass transit. With enough units and density to actually make a difference in housing affordability.
Instead, you have the city council trying to force density in places that are not exactly near (1/4-1/2 mi) transit in suburban neighborhoods.
I had a city planning official tell me that the mayor/council is thinking about allowing development with 0 parking spaces. I mean this would be doable, if we had a mass transit system to make this happen. But it's crazy in the suburban areas we have today - just lots of cars parked illegally on the street and more traffic in local areas.

Submitted by flu on December 19, 2018 - 8:15pm.

Well, looking over my kid's current grades. I am happy that my kid is doing about the same same as the peers that went to Sage Canyon Elementary and Ocean Air Elementary in the same district.....

And I didn't waste my money and pay an even bigger premium for a home that only had access to those two schools in the district. Lol.

Submitted by kcal09 on January 13, 2019 - 12:38am.

These condos are clearly overpriced as you can buy a house or condo in La Jolla for the same price/sqft.

Also, most Chinese prefer to buy homes and shop around for good bargains. I doubt that they will buy these condos.

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