We have lived in SEH since summer of 2004. The market was red hot and we sold our old house at the peak and moved the equity here to a home we hope to retire in. Crest View was on it’s 2nd or 3rd phase. Buyers slept in line to get homes in the 1st phases. April 2004 the Fed raised rates for the 1st time and the builders had raised prices to the point that buyers would not pay. We bought our home in April of 2004 at what I call the crest of the market in SEH but the homes around us sat un-sold and 1 year latter eventually sold to investors. The investor homes sat with weeds in the yards and lifeless waiting for family’s that never came. These homes are now finally closing escrow after investors lost the homes…I now see life in the windows and yards and voices of people who are happy to live in San Elijo Hills. The web is full of SD Bubble Market blogs, several have followed some homes on Brightwood or Crest View and I have thought about creating a Brightwood Index for the number of homes on the market and for how long they sit and the sagas of each owner who has sold or tried to sell…but I’d like to keep it positive and truly welcome the new owners to a great place to live…and soon all the investors will drive another street and we will play in peace.
Brightwood Drive Facts:
A total of 41 Homes
- 8 homes or 20% for sale (plus phantom inventory…people who wished they could sell)
- 5 homes sold…looks like an indicator that deals are clearing through