newport coast or coto

[socalmd_IHB]

Hi,



My wife and I are looking to move within the year and have been trying to decide on where to move to. We live in a 1400sq ft condo in newport coast right now. I've been tracking properties on redfin for awhile and can't quit decide which is the better option.

Basically it's either Belcara in Newport Coast or Coto. Our budget is 1.4-1.7 million. I know we can get more house and land for our money in coto, but I worry that prices will depreciate further. I'm a little more confident that Belcara prices will stay above 1.5 million..but who knows? Anyone familiar with Coto? vs Belcara?

 

[awgee_IHB]

I do not know anything about Belcara, but IMO Coto is depreciating and will continue to depreciate, and I see no reason to think that any area of Southern California will not continue to depreciate.

 

[acpme_IHB]

location location location

 

[no_vaseline_IHB]

I'd be inclined to buy nice, but don't think for a minute that Newport isn't going to be effected by what happens next door.



What's wrong with your condo?

 

[skek_IHB]

.

 

[awgee_IHB]

This property is not in Coto, but is in the same school district: Tijeras Creek, Las Flores, and Tesoro. It is a nice home in a very nice neighborhood and check out the size and the price. According to Redfin, it sold for $1,000,000 on 11/30/2006 and is now listed for $790,000. That is more than a 20% drop in less than two years and who knows what it will actually sell for.








http://www.redfin.com/CA/Rancho-Santa-Margarita/9-Arbor-Walk-Ln-92688/home/5782896

 

[Axiom_IHB]

[quote author="awgee" date=1212699864]

http://www.redfin.com/CA/Rancho-Santa-Margarita/9-Arbor-Walk-Ln-92688/home/5782896</blockquote>


Hmm... 3858 sq ft house, 5149 sq ft lot, and it has a pool.

Anyone else afraid a wrong step out the back door could result in an unplanned swim?



Disclaimer:

I'm a transplant, still not used to the miniscule lots around here.