San Elijo Bargains!

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Submitted by Rockemsock on July 30, 2007 - 1:22pm

My wife and I were driving back to our rental house in Cedar Crossing over the weekend and stopped by an open house just for kicks. The realtor was very nice and had apparently sold ONLY SEH properties in her 5 year San Diego career. She had a portfolio (literally) of properties that she had sold in the past 5 years, all in the SEH area.

The property was selling for 649k-679k (or 689k...i don't ever look at the high number). Here is how she presented the property to us.

We looked around the home (we are renting the same model) and then she showed us her previous home sales of the same model. One was around 10 months ago, and the other around 18 months ago...the first selling for 750k and the other at 809k. Her point was that the current property was aggressively priced and it "hasn't been on the market long...re-listed for only 80 days". She also told us that when the Albertsons is finished in June of '08, that it's likely we'll see this property jump a 100k. "One year and 100k in equity, just like that!"

Although i completely disagree with her forecast, I don't know what i would say if i was trying to make a living at selling homes. "This is a great place to live...and if you stay for 7-8 years you might actually see your house appreciate in value!" I guess that wouldn't sell too many houses. ;^)

Submitted by PerryChase on July 30, 2007 - 1:34pm.

Ask her to sent you a letter with that prediction in writing. ;)

Submitted by Alex_angel on July 30, 2007 - 1:58pm.

SEH has gone done a lot. Mostly due to poor location. I know that a couple months back there were protests in opening up the roads to pass right through the towne center into San Marcos. That whole area is heading towards 24/7 gridlock. You are not close to any freeway. You are stuck in that area. They really are trying to give away those homes.

Submitted by FormerOwner on July 30, 2007 - 2:09pm.

This is exactly what the problem is in many neighborhoods in Temecula/Murrieta: traffic gridlock and residents having to spend to much total time behind the wheel of a car on a daily basis. Here's an interesting link on this topic:

http://www.uli.org/AM/Template.cfm?Secti...

Submitted by farbet on July 30, 2007 - 5:20pm.

I was speaking with a realtor Sunday about SEH,"A Planned Community". The topic turned to the high Mello ROOS.When she tells clients about the Mello roos they shy away. She claims that that the San Marcos County Government was suppose to consider reducing the Mello Roos as the houses are built out. That the San Marcos Mello Roos fund has a surplus at this moment in the couple of million range. However, the Homeowners and Realtors are not pro active(not protesting) about this. That is, contacting the county about this. With the high Mello roos no wonder homeowners are struggling with the resets.
So You realtors that sell going up and sell going down,help the first time buyers will ya !! Contact the city government.
The whole Road business is a shortsighted one by the powers that be.Also the gas station and shopping are at a busy intersection. Who are the planners anyway?

Submitted by North County Jim on July 30, 2007 - 9:03pm.

Rockem, are you talking about the house on Sagewood?

Submitted by SD Realtor on July 30, 2007 - 9:28pm.

Rockem -

My wife and I are always hitting the open houses here in Scripps. Several weeks back we went to the one a few houses away from the home we are renting. The Prudential agent told me that it was a slam dunk that the home we were looking at would double in value in the next 10 years. He was quite serious! We just shook our heads in awe...

Sure it will...

SD Realtor

Submitted by Rockemsock on July 31, 2007 - 11:37pm.

Not Sagewood...it was on Sundance.

SDR, well at least the agent gave themselves some time to be wrong...so they can be out of town by the time their prediction is wrong.

I'm not sure I believe that this community is in for "24/7" gridlock. While i do think it will get more traffic, I don't see San Elijo Road as being THE way to go for everyone. And as far as putting an Albertsons and a Gas Station in a "busy intersection"...well, that seems smart to me. Maybe you fill up in your neighbors garage, but all my fill-ups are at "busy intersection" gas stations (is there another kind?) I think the planners got it right...put the gas station and store at the town center. I've filled up at that station a couple dozen times...it's less busy than the last gas station i frequented (El Camino and Encinitas).

When the road goes through it'll be a big boon for the city of San Marcos...the additional traffic ticket revenue generated by the County Sheriff that is a PERMANENT FIXTURE on San Elijo Road could lower the Mella Roos! ;^)

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