Buying Older Home (1978 or earlier) in SD (Scripps Ranch, Penasquitos) - please advise (San Diego: condos)

[sdnewbie1980]

We are a young couple who are looking to buy our first home in San Diego. We prefer to be in the Rancho Penasquitos, Mira Mesa, Scripps Ranch, Rancho Bernardo areas due to ease of commute and other preferences.

We have been looking at some homes recently, built in the 1975-1978 timeframe (Mainly in Scripps Ranch - along SR Blvd) that have been heavily upgraded and look great cosmetically. The neighborhoods also seem to be very appealing. While we have liked some of these homes (the plans, space, upgrades etc.), we are not very sure about going for an older home.
- Do such properties traditionally hold their prices in this area? Not sure how the re-sale value would be on these properties.
- Is there anything specific to keep in mind (So far we know that maintainence, structural stability etc...are some things to think about).

Any tips from experienced home-owners and realtors will be greatly appreciated.

[PacEyeDoc]

Hi guys,
I grew up in SR - lived here for 25 years or so other than my time in college and grad school. It's a nice place, especially for families. Before I continue, let me say that, although I'm not a realtor, the resale value would almost certainly be better in Scripps Ranch than Rancho Penasquitos and Mira Mesa, both communities have had some significant gang problems in the past (and present for that matter.) SR has not. I will say this, however, SR Blvd has had a few properties on it with slab problems. About 10 yrs ago there were several condos up on stilts after their builders were sued for cracked slabs and faulty construction. I don't say this to discourage you because I wouldn't consider this an issue, but I just think you should go in knowing everything there is to know. These were located in the condo complex on your right as you travel east on SR Blvd just after you turn right onto SR Blvd from Carroll Canyon Rd. Other than that, the area has been largely unchanged for the past 20 yrs or so, which is good. It's near the HS so you'll have HS students walking by your place in the am and pm. There's nothing wrong with the "old" part of SR, in fact that's where I grew up along Red Cedar Dr, but don't be afraid to look at the newer areas, especially now that prices are dropping so much. The Spring Canyon and South Pomerado areas of SR have much newer construction and since they're further away from Mira Mesa, I don't think they will ever be over-run by Mira Mesa "move-ups." (In the past, a lot of people have moved to SR from MM especially after the HS went up in the early 90s - not necessarily a good thing). If you're planning on staying in SR for a long time (15 yrs +), I'd give serious consideration to spending a little more money and moving either to South Pomerado or the newer developments within SR, not that there's anything wrong with where you're looking along SR Blvd. I don't think you can really go wrong in SR. There area has historically been very safe and tends to attract upper middle class and upper class, stable families with kids. If you want an alternative, look at Carlsbad - more expensive and a longer commute, but even a little nicer. In my opinion, I would definitely, without a doubt, stay out of Mira Mesa and Penasquitos even though your realtor (depending on who it is and what areas they service) might try to tell you otherwise. From what I have seen, the new developments in these areas typically start up nice and are then quickly "run down" due to the quality of some of the people who move in. SR seems to have avoided this problem for the most part. So, to summerize, in the immediate area, considering Scripps Ranch, Mira Mesa, Penasquitos, and Rancho Bernardo, I'd say go with SR without question. Second would be RB, not a bad place at all, but a little further out. You can get a lot just from driving around. Drive through Mira Mesa for example and in some parts, you'll just know when you've entered a more "distressed" area. The front yards are a mess, stucco is falling off the homes, paint is peeling, etc. Some of the areas off MM Blvd such as Westonhill can get really scary after dark even though you might not sense it while driving through. There are some pretty serious gang issues in MM even now. You don't really see that in SR. Hope this is helpful.