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Any opinions on values/trends in Del Sur area of Black Mountain Ranch?

Any REA/consumer opinions on the current-and-near-term values/trends for housing in the Del Sur area of Black Mountain Ranch?

Noted that new construction "just down the road" seems to be back in full swing. Small development across from Westview HS, another gated community across from Fairbanks Highlands, and more development in Pacific Highlands. From what I have seen, the houses being built are smaller and more dense than what was built out in Del Sur, so is this good news? Or just the nature of the business?

Also, while the local development took a price hit in 2007-09, the hit was off of bubble highs and did not seem to really drop prices to "underwater values". However, it does look like there are still some bank-owned or short-sales hitting the market.
  • March 05 2012 - Black Mountain Ranch
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Answers (9)

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Search for REAs finds 93 for the BMR community. Not a peep from any of the 93. Kind of disappointing.

  • March 05 2012
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"Newly constructed homes on smaller lots appraised value will be lower on a sq. ft. basis"

"As long as REO sales are occurring in the neighborhood you may see further declining values"


That makes sense. However, how do local REAs see tihs applying to the BMR and Del Sur areas. The new home construction is "in the area", but the basic BMR and Del Sur areas are pretty much built out - with the exceptions being custom lots in Santaluz.

Also, there is a mix of homes in BMR, due to local affordable housing requirements. With all of those variables, it'd be nice to hear from REAs who track the area.

p.s.

@ Sinead...

When we head up to RB, we use Black Mountain (which eventually intersects Camino del Norte just west of the 15. We find it's a bit faster, as theres not as much stop-and-go and cross-traffic as on CdN.
  • March 05 2012
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"Why are you asking REA's anything when you've already made it quite clear in many of your posts that we're unnecessary? Then you get an answer, and this is your response?"

Please show me any post where I've said that REAs are unnecessary? What I have consistently said is that consumers should take ownership of their decisions, and not abdicate decision-making.

I ask questions because I hope to get information. The question never asked will never get an answer. Sometimes I am disappointed, sometimes I get some real gems. And, if I can get a cross-section of responses on a froum like Zillow, it provides an opportunity to compare and assess.

As for my response, the answer provided could be applied to just about any community, and was off the mark with respect to the pricing I am seeing - and I'm not "in the biz", just rolling through the neighborhood.

REAs consistently claim to bring added value. Some do. Others just seem to spout generalities. Since I posted the question about a specific community, I don't see it as being too out-of-bounds to expect responses to (a) be specific to the community about which the question was asked, and (b) add information that provides a bit more insight about the situation.
  • March 05 2012
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SoCal_Engr / Newly constructed homes on smaller lots appraised value will be lower on a sq. ft. basis / Value is Land & Improvements (House) / As long as REO sales are occurring in the neighborhood you may see further declining values / Rudi
  • March 05 2012
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Hi SoCal Engr,
It is my opinion (since you asked for it), that new home prices do help and affect resale values in neighboring areas BUT they are also currently countered by the influx of short sales and REOs. So the fact that there are new homes being built, should help, but how much remains to be seen.  

With regard to traffic issues in Del Sur, I don't think it is too much of an issue. The area is still very desireable due to it's central location and hopefully the highways will adjust to meet the new needs of all the homebuyers there. Any client I have worked with in Del Sur and Black Mountain Ranch is willing to overlook the traffic issues to be in that neighborhood. I avoid the 56 myself and usually take RB Road over to Camino Del Sur and come through that way. (It's a nice drive unless you get stuck behind a semi)

Thanks!
Sinead
  • March 05 2012
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Why are you asking REA's anything when you've already made it quite clear in many of your posts that we're unnecessary? Then you get an answer, and this is your response?
  • March 05 2012
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Update...

One of the Pacific Highlands' developments ranges in size from 2400sqft up to 3400sqft, but starts in the mid-800's. My guess is that the mid-800's is for the 2400sqft floor plan. Also, new homes tend to need things like blinds/shutters, landscape, etc.

How, or does, this affect prices in neighboring communities (e.g. Del Sur). Prior to the bubble, all existing housing seemed to "ride the bubble" with new construction prices.

Or, could there be a negative impact due to the increased traffic on local roads? The 56 is already getting slammed because of the traffic from the 15-corridor, and I can't imagine that Carmel Valley Road is going to flow very well as that corridor continues to get built out...and the 56 is the only way to get there.
  • March 05 2012
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@ Kara...

You need to get out and drive the neighborhood a bit more. The houses in Pacific Highlands (per the sign), are starting in the mid-600's for one development, 800's for another. I haven't seen prices for the gated community on Carmel Valley, but last week there was a line of cars waiting to get in to the preview/opening - and they had valet to take care of the traffic/volume.

Seriously, you said little of value. SFRs under 400K? I haven't seen those, where are they? I really am not trying to flame you, but everything you said could be said about any community - so it's not much help.
  • March 05 2012
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Hi there...Del Sur is a great community and prices seem to have remained stable since last year. When you see more densely populated communities going up it is most likely because the developers feel the cheaper they can price the homes the more Buyers they can attract. Homes in Del Sur can still be considered on the pricey end to some moderate income Buyers so buy getting prices under 400-500k by building smaller is what they are going after. There are always going to be bank-owned and short sales, no matter which neighborhood. The key is supply and demand...and the supply so far in 2011 is lower than the last two years....and the demand (amount of solid buyers) is higher. 

Hope this helps,
Kara

Kara Watkins Norgart
[contact information and website removed by Zillow moderator]
  • March 05 2012
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