Ladera Ranch update

Ladera Ranch (ZIP code 92694) is a very interesting area for a variety of reasons. First, a good portion of the 8,000-home community was built during the recent real estate boom (starting in 1999), so it's exposed to more extreme fluctuations in value as the bubble inflated and is now deflating. It also features some striking architecture and provides good community amenities. Ladera is very family friendly.

The biggest drawback is perhaps its location - the commute can be bad depending on the destination. Homeowner dues also can be high, depending on the neighborhood.

Then, there's the natural gas power plant issue that's made news and become a hot issue in the community. Proponents argue it will service the area in peak use times and in case of emergency. They also point out that it's a clean-energy station.

Opponents say it's bad for a variety of reasons, among them decreased property values, a "50' exhaust stack - 300' from homes" and that it "opens the door to future industrial expansion." Right or wrong (we're not judging), this is the NIMBY (Not In My BackYard) point of view.

A pro-power plant local assessed the situation this way: "...the way these people are portraying (the situation), it will certainly cause prospective buyers to move along to Talega or elsewhere. It is the PERCEPTION that this Peaker plant will somehow diminish the lifestyle in Ladera that will further hurt values beyond what the mortgage and current market conditions have."

Here are some examples of how the real estate market is faring out there:

FOR SALE

19 Irish Moss
Asking price: $475,000 ($264/sq ft)
Purchase price: $626,000
Purchase date: 11/15/2005
Size: 3 beds, 2.5 baths, 1,800 sq ft
Days on Redfin: 196


32 Tisbury Way
Asking price: $645,999
Peak price: $812,000
Peak purchase date: 10/19/2005
Size: 4 beds, 3 baths, 2,200 sq ft
Days on Redfin: 92


23 Second Street
Asking price: $525,900
Purchase price: $635,000
Purchase date: 5/25/2004
Size: 3 beds, 2.5 baths, 1,750 sq ft
Days on Redfin: 11

RECENT SALES

114 Sansovino
Purchase price: $399,000
Purchase date: 12/7/07
Final asking price: $399,900
Original asking price: $480,000
Previous purchase price: $430,000


15 Wood Barn Road
Purchase price: $590,000
Purchase date: 12/06/2007
Final asking price: $599,000
Original asking price: $669,000
Previous purchase price: $405,500


17 Smoke Tree Drive
Purchase price: $1,100,000
Purchase date: 12/20/2007
Final asking price: $ 1,090,000 - $ 1,189,000
Original asking price: $1,275,000
Previous purchase price: $723,000


All sales data came from Zillow and isn't guaranteed to be reliable. Recent sales also assume these are completed transactions and not foreclosures going back to the bank.