Monday, November 2, 2009

$84 s/f in the retreat

Ok, so technically this is a short sale and the chances it will actually sell for this price are slim. But I think the fact that it listed at this price shows that the mid to high end is still falling. I'm certainly seeing the listing prices int he areas I watch continue to drop (I just wish there were more listings). There have been other sub $400k listings and sales in The Retreat. But those were in the smaller KB homes down near the back gate. This is the first one I've seen up in the central area.

8133 Tender way is a big home in The Retreat. It listed today for $399k. The house is 4767 s/f and has 4 bedrooms. It sold new back in April 2006 for just under a million ($996k). So this one is listed nearly $600k less than it's 2006 sales price or down about 60%. That price seems about right to me!

Biggest problem with this place is still the taxes. Even if you could pick it up for $400k, you are looking at nearly $10k per year in taxes AND nearly another $300/mo for the HOA (listing says $185/mo, I know it's way more than that).


Rob Dawg said...

For an effective tax rate of 3%. So much for Prop 13. It's dead.

boxrs4sale said...

X, you said in the other post that you'd live in Utah or Idaho in a heartbeat.. Can you explain why? What is there to do out there?

I prefer coastal (like most) and my lunch break usually involves about an hour of surfing in the Monterey area. We've considered moving, but anywhere other than coastal doesn't seem interesting. But like before, the damn taxes just piss me off and make me want to bail.

Sigma said...

Man, I really love the community of the Retreat. It's just hard to swallow over $1k in non-principal payments monthly. That's a mortgage in itself for a $200k home after PITI!

golfer_X said...

The SLC area has lots to do. It sits right at the base of the Wassatch mountains. In an hour you can be up in heaven. The skiing is awsome, hiking, mtn biking etc. No surfing, but you can sail on the salt lake, (I don't like the salt lake it's stinky). True there is no ocean but if yo like the outdoors there is no shortage of things to do.

Ken said...

I'm with X, as soon as I get laid off from my job I'm taking the family and getting the hell out of SoCal. Born and raised here, but this place has become a real sh*thole with too many people. Will be moving to Idaho, already have picked out a small town outside Boise with nice homes that are priced right.

naturalherbalskincarebeautytips said...

Taxes are like horrible. This is too much.
Bank Rates

doghouse said...

why in the world would anyone be so dumb to pay $800 taxes and $300 hoa per month?
thats just retarded!
we need to make the developers liable for the infrastructure, there the ones reaping all the $$$$
I guess thats why I have little sympathy for them when they fail.
I too will be out of here ( calif) as soon as I find the right house in our new location.
I'll sell all the properties in calif, and never look back.

Jack said...

4000sq.ft. home:

The Retreat: $500,000 + $150,000
Irvine: $1,300,000
Beach Front: $5,000,000
Victorville: $200,000
Other part of IE: $350,000
Utah: $100,000

Assuming $5k for 30 years worth of CFD/Mello Roos, there is an additional $150,000 to live in The Retreat.

Everything is relative; $650,000 in Irvine will get you a nice 1600sq.ft. 3 bedroom townhouse/condo; $650,000 by the beach will get you a life guard tower; $650,000 in Utah will get you a ranch, 12 horses, 3 wives, and 4 SUV's.

I'm not going to call you retarded for moving to Idaho or Utah and hopefully some of you will see that the Retreat is a steal (ok, not really, but I love living here and wouldn't trade it for any of the other options...)

*all figures were pulled out of my a$$ for reference purposes only...

golfer_X said...

$100k in Utah, I wish. The houses I looked at were closer to $700k (near the peak though). Idaho and Utah (well parts of Utah) are both beautiful states. The problem for most people is that the Jobs are not there. Of course lately the jobs ain't here either.

The retreat will be a great community once all the foreclosures are worked out of it. And there is the uncertainty of the lots up near the top where the developer went BK. But you are paying quite a premium to live there. High CFDs and high HOAs.

Charles said...

I'd rather buy a scrub pad in the IE on a bigger lot with no HOA, pay extra twoards principla for 5-7 years the tear down and build a McMansion.

To m that would make more financial sense than "The Retreat"

Neighborhood sounds like it would be full of assholes anyway.

Living in the slums sucks, but i find living around stuck up upper class assholes undsreable as well.

Allison said...

I know this post is really old but I'm catching up.

We lived in Utah for 8 years, and there is a lot to do. Not the beach, but lots of outdoor activities, beautiful mountains, lakes (other than the Salt Lake), etc.

Own a 4,000 square foot house there in a beautiful neighborhood with a view of the valley, bought it in near the peak for well under 400k.

X, wanna buy it? LOL. I am renting it and would love to unload.