Santee new homes

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Submitted by penny on October 24, 2018 - 4:59pm

There is an new construction boom in Santee.

how do you guys think about invest a entry-level new constrution house there?

Pardee has Weston from 600k, if buy one and rent it out for a few years before selling it , Do you guys think there is money to make here?

I am not very familiar with that area, Thanks

Submitted by FlyerInHi on October 24, 2018 - 8:39pm.

What are your assumptions about carrying costs, rental income and appreciation?

Submitted by moneymaker on October 24, 2018 - 8:45pm.

I don't think so. Mainly because most if not all new housing has HOA, which means it doesn't pencil out unless putting 50% down. Which brings up another topic I was thinking about today. I've never lived anywhere where rents went down. They seem to be pretty sticky. If the housing market "crashes" will rents also decrease?

Submitted by gzz on October 24, 2018 - 11:14pm.

I think you would do better with a condo or townhouse in a market you know better and close to where you live. Momentum is slowing, but the stock crash will be the end of rising rates and the fundamentals in San Diego are still great.

Submitted by penny on October 25, 2018 - 11:12am.

Your point is correct. Problem is that my area the condo worth the same or more than the new house in Santee, rents are similar so I am thinking longer term Santee maybe a better shot

Submitted by L.L. on October 28, 2018 - 12:56pm.

Hello everyone. I'm new to the site and wanted to comment and ask what everyone thought about the Santee community being developed by Pardee.

We had been looking at the new communities out in Santee before we relocated out of state. The fact that a single story floorplan was offered seemed appealing to us. It didn't hurt that the homes were well done. The one big concern we had -- which ultimately was the deal breaker -- was the Sycamore landfill being located right next door just over the hill to the west.

Having experienced the stench near the Miramar Landfill while searching in Tierrasanta and reading about the methane issues in Otay, my initial thoughts are that it could be a deal breaker to some.

Do others share the same long term environmental concerns regarding contamination and other air quality nuisances of being physically next door to a landfill?

Submitted by penny on October 30, 2018 - 2:51pm.

we have the concern of landfill as well, however we don't really smell out something when tour the models, also I think it is more like a general issue of santee, the proximity to the landfill is no much better for the old 70s house cross the lake.

The new community has another issue bother me as well, that there is the SDGE substation for high vole transmission, it is just next door to some house.

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