Any input on Verrazzano Neighborhood in 92127? - San Diego - California (CA) - Page 2 - City-Data Forum

sdurbanite · 02-15-2011, 04:51 PM

Nice area. If a gated community is what you are looking for, make you sure check out Fairbanks Ranch.

earlyretirement · 02-15-2011, 05:42 PM

cruitr,

Yeah, ideally we don't want to be in a short sale situation. I've heard horror stories about it. The only reason we're considering it is several homes in the area appear to be in that situation as several people even putting down bigger 25% down payments either are upside down or pulled equity out of their homes in the past few years so lots of people have no equity at all....

We aren't moving to the area until August so we have plenty of time to work things out. We rented a house for 4 months while we search so the original plan was to wait until we got there and then search but some houses in short sales where the lender has approved $X amount I thought we wouldn't really lose anything. We will probably end up waiting until we get there as I really believe that prices will continue to fall in 2011. But still might be worth flying out and seeing some houses.

Janineg - Yeah, I noticed that some of the houses have a small yard or only an interior courtyard type of yard but several for sale in the area face that park so lots of green spaces. I've never been to Olivenhain but we did go to Encinitas our last trip. I'm sure there are nicer areas there but some parts we saw just felt really "blue collar". (no offense to anyone). While we do want some outdoor space it's not necessary for us to have a huge yard if we're very close to a park.

Thanks for posting that picture. I've seen a few photos online of that area and park...it really does remind me of Europe. They did a good job planning that community. The more photos I see like the one you posted, the more impressed I am with that area.

On a map it looks a bit further out from San Diego but on Google Maps it shows the airport as being only 30 minutes. I know that is without traffic. Fortunately I'm not sure I'll need to work so it's not too essential to be right near the city. I may work out of the house in an office so this area could work.

cruitr · 02-15-2011, 07:10 PM

Good idea renting a house for a few months. The logistics of buying a house (especially a short sale) can get quite complicated.

We rented for the first 3 years we lived here. Three different houses in three completely different neighborhoods. My wife liked cooler coastal San Diego. I liked the warmer inland areas. She won. We bought a totally-rehabbed home in an older 'hood near Mission Bay. Easy access to downtown, the airport, and the beach. And no need for A/C. A happy wife is a happy life!

earlyretirement · 02-15-2011, 08:12 PM

Quote:

Originally Posted by cruitr

Good idea renting a house for a few months. The logistics of buying a house (especially a short sale) can get quite complicated.

We rented for the first 3 years we lived here. Three different houses in three completely different neighborhoods. My wife liked cooler coastal San Diego. I liked the warmer inland areas. She won. We bought a totally-rehabbed home in an older 'hood near Mission Bay. Easy access to downtown, the airport, and the beach. And no need for A/C. A happy wife is a happy life!

"A happy wife is a happy life". Ha, ha. So true! It's been my experience that the wife usually wins.

Yeah, we figured that renting a few months will be the best method to go. We are definitely sure that we'll buy something in the area. I'm still not sure yet exactly where and open to areas. We've spent each summer the past several years vacationing in La Jolla and enjoyed it but traffic can be a bit much sometimes. Also, you can get a lot more home for the buck outside of La Jolla.

I think if we can help it we'll totally avoid the short sales. Your posts and others make it sounds messy. We have been living in South America the past several years where they don't really deal with mortgages so much so it's literally 100% cash on almost all transactions so there are literally no subprime, no foreclosures to deal with which is nice. No one buys a home unless they have the funds..... which I actually prefer vs. the situation of what's going on in the USA now with 30% of all mortgage holders with negative equity. Sad.

Glenda Macready · 02-17-2011, 10:21 PM

Hello,

The home at Concerto Lane, San Diego is sold. I do specialize in this specific neighborhood. I sold these homes to the original owners of the Verrazzano community. There is a new listing that came on the market today at 7685 Concerto Lane.

This is an amazing neighborhood! I would definitely give these homes a look.
I have some more pictures posted on Facebook if you have a Facebook account, Facebook.com/VerrazzanoCommunity.

You can visit my website at northcountyhomesandlifestyles.com or email me at Glenda.Macready@coldwellbanker.com. Please contact me for more information at (760) 576-9453.

Best regards,

Glenda

earlyretirement · 02-18-2011, 05:54 AM

Quote:

Originally Posted by Glenda Macready

Hello,

The home at Concerto Lane, San Diego is sold. I do specialize in this specific neighborhood. I sold these homes to the original owners of the Verrazzano community. There is a new listing that came on the market today at 7685 Concerto Lane.

This is an amazing neighborhood! I would definitely give these homes a look.
I have some more pictures posted on Facebook if you have a Facebook account, Facebook.com/VerrazzanoCommunity.

Glenda

Hi Glenda,

If it was "sold" it must have just been yesterday because my realtor went to go see it in person 2 days ago and it was still for sale. We are going to pass on it as the house was really close to the one next door. Also, my realtor took some videos of the property and we didn't like that so many of the floors were different and it didn't seem as nice as the original photos posted IMHO. Also, we hated the carpet in the master bedroom.

The neighborhood really looked good though.....

SDinsider · 02-18-2011, 06:24 AM

Short sales are an animal with many masks. My wife and I are Realtors. She is a short sale guru. But I do NOT envy her that. If you are considering getting involved with a short sale, I have some tips. Best tip would be to ask that YOU get to negotiate the short sale. Then use an experienced short sale negotiator. Choose a Realtor who specializes in them. Or, if that's not an option, hire a negotiator. But do not get involved with short sale amateurs. Listing agents of short sales like to pass off the duties on a kid they hire. Don't let that happen. 2nd tip would be to know what you are getting involved with. Is it a simple 1 loan short sale through BofA, with an investor like Fannie? Or is it a monster with multiple loans, and small inexperienced investors? Short sales come in good, bad, and everywhere in between. They are best left to investors who aren't waiting to move in. Deals can fall through. My wife handled 21 short sales personally last year. I can tell you since I live with her....it doesn't sound like fun.haha The "deals" are just too tempting to scare everyone off.

earlyretirement · 02-18-2011, 04:25 PM

SDinsider,

Thanks for the tips on the short sales. As mentioned, really I'd like to avoid them completely but it seems like more listings lately are dealing with people that are underwater. As a realtor are you seeing that trend as well? Also, as a realtor in the area, what is your opinion on where the market will go in the next 2 years in that area? I know San Diego is more insulated but there is still lots of shadow inventory out there. I'd love to hear your opinions. Most realtors I talk to have had their blinders on the past few years and their motto always seems to be "it's a great time to buy". I'd love to hear your thoughts.

Wow, your wife really does have a lot of experience in short sales! From the sounds of that, it sounds like lots of properties in the area all had negative equity and the people overpaid for their places or used their homes as an virtual ATM card. I'm seeing lots of houses for sale where the current owners put down 20% - 25% down payments and they are still underwater. I have a ton of real estate experience as I've purchased hundreds of properties in the past decade but all outside of the USA. I've watched the market fall the past several years and ready to dip my feet in the water in the USA now.

I know there are tons of "permabears" out there (i.e. http://www.patrick.net ) and I agree prices can fall some more in the next few years with all the negative equity, high unemployment and shadow inventory... but I know with investing it's almost impossible to always catch the absolute bottoms.... Plus, we aren't buying as an "investment". We are buying a home to live in probably for the next 18 years or more....... we don't plan to move for a while once we buy this house...