Prices are starting to increase in Mystic Point! This is due to the attractive price-point and recent drop in inventory levels. There is currently nothing for sale in the neighborhood. I participated in three different transactions in Mystic Point over the last year. The first, a Plan One on Peninsula, was a bank-owned foreclosure. The Buyers downsized out of their home in San Elijo Hills and upgraded to a Carlsbad address. We beat out multiple offers and secured the property for $335,000. The second deal was a traditional sale. My clients purchased the Plan 3 on Karst as a rental. They found a tenant and rented it out before we closed escrow for $2000/month. Our most recent transaction was on also Karst. We represented the Seller on a highly upgraded Plan 2. The Seller accepted an offer for $415,000 but due to appraisal issues, the price was adjusted to $407,500.
A Plan 2 closed for $420,000 last month! As a resident of Mystic Point, I am happy to see prices on the upward move. I have served on the HOA board since 2005 (initially Treasurer, then President, now Vice President). I am optimistic prices will continue to climb into 2010. Where else in Carlsbad can you purchase newer construction under $500k with excellent schools, central location, etc?
Mystic Point is a solid investment.
Fri, Dec 11, 2009
General News