Hoping To Co…, Both Buyer and Seller in San Marcos, CA

What are the trends in San Elijo Hills? Big increases in the forecast for this year?

Asked by Hoping To Come Home, San Marcos, CA Wed Jan 12, 2011

My husband and I are looking to relocate to the San Diego area from Highlands Ranch, CO sometime next year. We'd like to keep our mortgage under $300,000. Right now there are 3 bed townhouses in San Elijo Hills available under that limit, but we're worried that housing prices and interest rates could price us out of the market. What do you think? We really like the looks of SEH, but are there other family friendly neighborhoods we should consider in addition? Thanks!

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As others have mentioned, I don't think there is going to be any "big" increases any time soon, anywhere. That said San Elijo Hills is a wonderful, family oriented community with great parks and schools. It has been a year since you asked your question, and rates are lower and prices pretty flat. I live in San Elijo, and would recommend it to anyone looking for the environment that you are drawn to. I would suggest that you contact a real estate agent that specializes in that area and have them start emailing you what is available within your price range.

Regards,
0 votes Thank Flag Link Wed Jan 25, 2012
Come out and visit the nearby cities to get a feel of different communities. If you like the look of a planned development community, single family homes in Arrowood and Del Oro village in Oceanside should be considered for their low HOA, great location, newer homes and closer to the beach (hint: the weather). They are priced in the $300 and $400k. With a mortgage under $300k, I would imagine your want to purchase a home in the $300k? Even with an increase in price and interest rate, a mortgage under $300k may just end up with much less than $100/month. More importantly, focus on finding the right home in the right location is a priority over what is out of our control - pricing. Please let me know if you need anything else to aid your decision.
0 votes Thank Flag Link Thu Jan 13, 2011
There are lots of good areas you should consider, San Elijo Hills is just one of them. No one is expecting prices to increase considerably over the next year. However, consider this...if prices go up 1%, on $300,000 that is $3,000.00. If prices go up 3%, well you get the idea.

We do believe that interest rates will start climbing. That will affect you more than price increases.

When you are coming to town, give me a call if you would like, I can show you some great areas! You'll love the area!

Let me know if I can help you in any way!


Joan Wilson (Realtor, SRES, Ecobroker, Certified REO, HAFA, and Short Sale Specialist)

Prudential California Realty
Direct Phone: 760-757-3468
800-975-7481 x 111
Fax: 760-946-7894
JoanWilson@prusd.com
License # 01341483

Blog: http://JoanWilsonRealtor.com


Find Your Dream Home:
http://JoanWilson.PrudentialCal.com
0 votes Thank Flag Link Thu Jan 13, 2011
While interest rates have been trending upward, I do not see much price pressure upwards on homes any time soon. Many lenders have stepped up the foreclosure process on many of their delinquent loans. There is a huge number of loans that were written 5 years ago that are coming due with borrowers unable to repay or refinance this year that will most certainly negatively impact the market in the near future. I think SEH is a wonderful Planned Unit Development but there are nice areas in San Marcos that can be purchased at a much lower price per square foot. and still be able to purchase a single family residence right around where you want to keep your mortgage. Let me know if I can be of help

Good Luck!

Gil Soto
Realty Executives
760-672-9407
0 votes Thank Flag Link Thu Jan 13, 2011
Hello Hoping to come....
I think the market will be comparable to how it is now for the next year, seeing a possible buying frenzie occuring in the next couple months or so. I live and work in San Elijo Hils and our office is located upstairs in the Visitor Center. Check out our site http://www.LivinginSanElijo.com.

I think someother areas you may want to consider could be Discovery Hills ( on the other side of San Elijo Hills). Also you may consider Rancho Carrillo in Carlsbad or perhaps Shadowridge. These are the only areas I'd consider to have a sense of community any way comparable to San Elijo, which is pretty hard to do.

I wish I had a real estate forecast crystal ball to look into for you, but unless you are ready to buy now ( the best time to buy......ouch) then it is what it is.

Best of luck.

Dusty Brazil
Copper Creek Realty
http://www.LivinginSanElijo.com
0 votes Thank Flag Link Wed Jan 12, 2011
Dear Buyer,
I live next to San Elijo Hills in Lake San Marcos. If you choose San Elijo Hills, you have picked a great place to live. San Elijo Hills is in the 92078 zip code of San Marcos, CA and I will give you the most accurate statistics available for that zip code as of January 10, 2011.

The median list price in SAN MARCOS, CA 92078 this week is $525,000. The 183 properties have been on the market for an average of 138 days. The market has shown some evidence of slowing recently. Both
prices and inventory levels are relatively unchanged in recent weeks.

I don't expect to see much change in prices in the next few months. Please give me a call if I can help of if you would like real detailed statistical analysis.
0 votes Thank Flag Link Wed Jan 12, 2011
Hoping,(that's a good thing!)

San Elijo Hills is a great community, good family area with newer facilities. Schools are top ranked.
To go directly to your question are prices going to rise this year in SEH, I currently don't see that type of pressure, and don't see a dramatic shift happening. If interest rate continue to creep up there will be less people qualified, the banks have a lot of inventory to move and some people will have to move, it is a neighborhood of professionals, promotions happen all the time!!!
I would be happy to connect you with current information on these townhomes. We can connect through our website or click my email address type yes and your name and I'll take care of the rest.

Warmly,

Peter Whittet
Oceanview Realty
760 390 2393
peterwhittet@gmail.com
0 votes Thank Flag Link Wed Jan 12, 2011
Greetings,

The prices in that area in North County have yet to stabilize as many of the homes are new and many of the original owners are upside down in their properties. The area originally sold from $650,000 to $850,000 and is now averaging $450,000.

The general forecast in San Diego is for pricing to drop some in 2011 and stabilize in 2012. With that said, there are at least 10 major factors that play into pricing and another 20 minor factors. The information is only as good as the market conditions provide today.

We know this is somewhat vague and recommend you Google the Case Schiller reports and read them as they provide detailed information on market conditions.

Best of luck,

Mark & Kari Shea
Shea Real Estate
Serving Greater San Diego
0 votes Thank Flag Link Wed Jan 12, 2011
Greetings!

Prices in San Elijo Hills probably will go up with the market in San Diego North County overall. The challenge with pricing in San Elijo Hills remains to be the Mello-Roos charges. Often running $300-$500 per month in addition to any HOA fees in a Condo complex. The other thing I believe is keeping San Elijo Hills values down is the amount of vacant homes due to the majority of homes being sold right at the peek of the San Diego boom pricing. Lots of short sales and generally buyers who need housing and fall in love with one particular house don't want to wait for months to find out whether or not they even get the house. These are strickly my opinions based upon being focused in San Diego North County. There are plenty of good buying opportunities in North County that don't have the burden of Mello-Roos. Pick an area inland like Rancho Bernardo or even South Escondido near Lake Hodges and you might find good values without that overhead. One piece of good news regarding Mello-Roos is that it normally ends in 10-15 years and then it drops off.
0 votes Thank Flag Link Wed Jan 12, 2011
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