Property Description
Contact Agent
Brant Lee
(858) 232-3488
CA DRE #02178359
Property Details
Property Type
Condominium
Bedrooms
2
Bathrooms
2
Size
944
Floors
2
Year Built
1995
Property Location
3515 Caminito El Rincon unit 290, San Diego, CA, USA
PROPERTY DETAILS
Property Type
Condominium
Bedrooms
2
Bathrooms
2
Size
944
Floors
2
Year Built
1995
List Price
$739,000
Close Price
$715,000
Price per Sq. Ft.
$757.42
List Date
01/10/23
Close Date
02/21/23
DOM
21
CONTACT US
INSIDERS PERSPECTIVE
3515 Caminito El Rincon, Unit 290 SOLD for $715,000 ($757.42 PPSF) on February 21st, 2023.
The 2 bed 2 bath upper stairs unit was listed for $739,000 on January 10th and went into escrow 21 days later. The Buyer took out a $270,000 loan or 36.5% loan-to-value ratio, and closed escrow 21 days later. This unit sold for $24,000 under the list price - which reflects the current market conditions. There’s also more to the story.
The property was an initially purchased back on October 12th, 2022 ($650,000) and subsequently went through a 2-month renovation. No “before” pictures of the unit are available.
The upgrades include:
Engineered wood flooring in the kitchen and bathrooms ($3,500).
Update kitchen light cherry Shaker-style cabinets ($8,500) with quartz countertops ($1,500). Stainless steel appliances ($3,500-4,000).
Updated bathroom vanity ($1,000-1,200), quartz countertops ($800-1,000), vanity lighting and hardware ($1,000-1,250).
With an initial purchase price of $650,000, $20,000-25,000 in upgrades (over a 2-month period of time), and selling price of $715,000 ($25,000 under the 1H/2022 average close price for Camino Villas 2 bed 2 bath condominiums), once you subtract various fees, commissions, etc., it raises the ‘hard’ question whether or not this “flip” was worth the time and investment. Most likely not.
Inside information from the
#1 condo agents in Carmel Valley.
PRO'S
Unit faces grass area, away from parking and insulated from High Bluff Dr. and Caminito El Rincon.
CON'S
Carpet in the living/dining areas (and bedrooms). Engineered hardwood or a luxury vinyl flooring is preferred by most home buyers.
BUYERS INSIGHT
There could be many reasons why the Seller was willing to accept a lower than average selling price for this unit (e.g. hard money loan, market pressure, miscalculation, etc.), but safe to say the Buyer purchased solid home at a great value.
Identifying the upgrades, the PRO's and the CON's of each unit and each sale and then knowing these sales comparables intimately is the key for your agent to plead your case to a seller and help you negotiate and then buy at the absolute lowest price point possible, without this in depth homework, you do not have a strategic advantage to negotiate.
DO NOT put your trust in anyone other than the most experienced condo buyers agents that you can find. Put your trust in Brant Lee and Chaco Clotfelter the #1 townhome/condominium agents in Carmel Valley to help you identify opportunities, competitively navigate and then negotiate the offer process and then enjoy a position of control once in escrow. We encourage you to give us an hour of your time and we will give you a one-hour driving tour of Carmel Valley townhome/condominium complexes and we guarantee that you'll learn more in an hour with one of us than you will searching for information about Carmel Valley condos on the internet for a month. We strive to provide value and arm those that trust us with the most valuable and compelling insight into each complex to help you find the right fit in a complex and then negotiate on your behalf to help you achieve the best possible outcome in the market.
SELLERS INSIGHT
When looking for the “right” agents to list your home, make sure they have in-depth knowledge and insight of your community, nearby communities, and the surrounding area, including floor plans, community pros and cons, HOA CC&Rs, rules and regulations, state/local laws and other factors that may effect the sale of your property. Expect more from your real estate agent.
DO NOT put your trust in real estate agents that treat you like another transaction. Any licensed real estate agent can run comparative reports, but do they really know your community inside and out? We specialize in the 32 townhome/condominium communities in Carmel Valley. Put your trust in Brant Lee and Chaco Clotfelter the #1 townhome/condominium agents in Carmel Valley to help guide you through the selling process. Our experience and in-depth market knowledge can help you competitively price your property, assist with property preparation and presentation, finding buyers, and successfully negotiating and dealing with them. All of this matters as it relates to our goal to get you the highest and best price possible for your home, and earn a client for life.
We encourage you to give us a call to discuss how we can help you sell your home.
PROPERTY LOCATION
3515 Caminito El Rincon unit 290, San Diego, CA, USA
WHY CHOOSE US?
Your real estate agent should be more than someone who facilitate the transaction. They should be someone who can not only guide you through the process, but also provides knowledge, insight, and counsel along the way. When it comes to investing in and managing one of your most valuable assets, leave nothing to chance (or inexperience).
We specialize in townhomes and condominiums
in North San Diego County.
If you have any questions (no matter how big or small), please contact us to schedule a no obligation appointment or get a personalized tour of the Carmel Valley area.