Superior Homes in Review
Monday, October 22, 2007 at 07:16AM
Jim the Realtor in Thinking of Buying?, Thinking of Selling?

How are the 'superior homes' doing lately?

These are recent same-house-sales that have closed escrow since August 1st of one-story houses with a 3-car garage, no HOA or Mello-Roos and on at least a quarter-acre lot or more.  They are listed in decending-price order, figuring the higher the price, the better the location:

tb071036812_0.jpg7485 Turnberry, 

RSF Farms

5/4/04 - $3,400,000

9/28/07 - $3,275,000

(-3.7%)

 

ca071016235_0.jpg16920 Cantaranas, RSF

4/19/04 - $2,400,000

8/24/07 - $2,730,000 

(+13.8%)

 

 

cm071040421_0.jpg17605 Calle Mayor,

Fairbanks Ranch

5/16/06 - $2,400,000

9/25/07 - $2,360,000

(-1.7%)

 

rv071030729_0.jpg4836 Rancho Viejo,

Rancho Del Mar

5/5/04 - $1,850,000

9/13/07 - $2,100,000

(+13.5%)

 

bs076039922_0.jpg14352 Blue Sage, Poway

7/30/04 - $1,540,000

8/21/07 - $1,550,000

(+1%)

 

 

it076062057_0.jpg12768 Indian Trl, Poway

6/24/04 - $1,230,000

9/21/07 - $1,460,000

(+18.7%)

 

 

cc076053144_0.jpg13859 Country Creek,

Poway

4/16/04 - $1,270,000

9/14/07 - $1,279,000

(+1%)

 

dd076028090_0.jpg1409 Dentro De Lomas,

Bonsall

4/13/06 - $1,250,000

10/4/07 - $875,000

(-30% REO)

 

sc071066183_0.jpg1751 Sienna Canyon,

Encinitas

1/28/04 - $925,000

9/27/07 - $1,111,000

(+20.2%)

lslr1000525558-1.jpg3641 Lago Sereno,

Escondido

3/26/04 - $912,000

8/30/07 - $1,075,000

(+17.9%)

 

bb076045776_0.jpg1421 Buckskin, Escondido

11/24/04 - $940,000

9/7/07 - $730,000

(-22.3% REO)

 

 

dl071055619_0.jpg6058 De La Rosa, O-side

5/3/05 - $910,000

9/21/07 - $680,000

(-25.3% REO)

 

 

ww071053401_0.jpg31854 Wrightwood,

Bonsall

10/6/06 - $820,000

8/15/07 - $875,000

(+6.7%)

 

VV061097760_0.jpg1512 Via Vista, Fallbrook

3/18/04 - $890,000

10/5/07 - $900,000

(+1.1%)

 

 

czlr1000557846-1.jpg3708 Cypress, Oceanside

11/10/05 - $790,000

8/31/07 - $580,000

(-26.6% REO)

 

 

HE076034551_0.jpg3263 Hidden Estate,

Escondido

6/29/07 - $680,500

8/10/07 - $690,000

(+1.4%)

 

ry071066361_0.jpg3661 Ryan, Escondido

4/26/04 - $669,000

9/28/07 - $635,000

(-5.1%)

 

 

rc071041936_0.jpg772 Rainbow Crest,

Fallbrook

11/8/04 - $565,000

8/3/07 - $595,000 (REO)

(+5.3%)

 

If you take out the foreclosures, there has been an average appreciation of +6.4% among these superior homes since 2004, and I'm including some area that aren't on the usual beat here.  Note that none of the five REOs are from La Jolla to Carlsbad.

The scarcity of this prototype is the primary reason I think they will continue to out-perform the rest of the market.  There were only 45 matches out of 1,020 sales (4.4%) in these same areas since August 1st, and these are all 18 that had resold since 2004.

If you can find an one-story house on a medium-sized lot with no HOA or mello-roos and a three-car garage in your area, keep an eye on it and see how it does.

 

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