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Sierra Lakes

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ZZGAMAZZ

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Senior Member
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Jul 23, 2007
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Certified Residential Appraiser
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California
Heads-Up:

Luxury golfing community in north Fontana. Approx 50% of the properties back a relatively upscale public golf course. Most homes 3000 - 4000 sqft on smaller lots.

Values have fallen to the low- to mid-$400K's after selling new 2 -3 years ago in the $600K's. An estimated 15% of the properties are active listed...
 

Lee in L.A.

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Jan 24, 2002
Professional Status
Certified Residential Appraiser
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California
Sounds like a distressed market to me. :fiddle:
 

Randolph Kinney

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Apr 7, 2005
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Retired Appraiser
State
North Carolina
I am sure there are neighborhoods where values have declined 40 to 50 from peak values.

Some in Escondido are now at levels where the mortgage monthly is almost equal to monthly rents. I suspect that might be near the bottom.
 

CCAAMO

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Sep 17, 2007
Professional Status
Certified General Appraiser
State
California
Heads-Up:

Luxury golfing community in north Fontana. Approx 50% of the properties back a relatively upscale public golf course. Most homes 3000 - 4000 sqft on smaller lots.

Values have fallen to the low- to mid-$400K's after selling new 2 -3 years ago in the $600K's. An estimated 15% of the properties are active listed...

Its a nice course as long as the wind is not blowing 50 miles an hour. Too bad they built it in Fontana, or should I say "Rancho adjacent".
 

ZZGAMAZZ

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Senior Member
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Jul 23, 2007
Professional Status
Certified Residential Appraiser
State
California
CCAMO: Yours is a very pertinent comment. An old-time resident of the area told me that it took 40 years for the City to agree to allow improvements in north Fontana because it was always felt that the wind would compromise residential development. I don't know whether this is true, and construction technology improved, or whether the City just stopped caring because of the potential tax revenue...nevertheless, the "Ivory Triangle" east of the I-15/Baseline Avenue intersection is poised to become the poster child as a non-urban ghetto.
 

CANative

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Jun 18, 2003
Professional Status
Retired Appraiser
State
California
5 generations of my family lived at 6th and Turner (now Hermosa) and looked out over the vineyards to Kaiser Steel in Fontana. If you look at this area from say Corona or Chino during a Santana wind you can see a half-dozen "fingers" of dirt blowing down off the alluvial fan below Cucamonga and Ontario peaks. They go right through Fontana and Cucamonga. Very windy area. Ever seen a line of big rigs tipped over on the I-15?

Back when I was a child there was nothing out here but old vineyards, dirt roads and Kaiser Steel. I had a vivid dream when I was about 10 or 11 of this whole area being covered roof to roof and people driving around in tiny cars. LOL... pretty accurate dream.
 

Jim Kliegl

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Joined
May 20, 2004
Professional Status
Certified Residential Appraiser
State
California
Very windy area. Ever seen a line of big rigs tipped over on the I-15?QUOTE]

I think the correct question is....have we ever NOT seen a line of either 1) tipped over big rigs; or 2) parked on the side of the freeway waiting for the wind to calm down some from Oct. to March? Was practically driving a slollum course around these when the fires hit in October.

Anyway....Fontana has a history of building up in good times, and watching the neighborhoods go straight downhill when things slow down.....see Heritage or Southridge to the South from the late 80's early 90's. Sierra Lakes is a nice development, but too many larger homes crammed onto small lots for my taste. Also, West of Citrus Ave. is in the much desired Etiwanda School District. Haven't done much work over there lately. But back when the market was more active, I felt homes sold for more off the golf course partially due to that. Although values are taking a beating over there, too...IMO.
 

CCAAMO

Senior Member
Joined
Sep 17, 2007
Professional Status
Certified General Appraiser
State
California
Hell, the winds blew down the outdoor christmas tree in Victoria Gardens 1 year ago and thats in Rancho. I had a client call me years ago who was going to build a 10,000 s.f. home in Victorville. When I told him it would be an overimprovement he told me " if it was in Beverly Hills it would be worth 10 million dollars." My answer was " yes it would, unfortunately that's not were your building it"

I think the same logic applies to Sierra Lakes, " if only it were in Rancho or Upland, etc." unfortunately its not, its in Fontucky. I do like to play the golf course there so I can always blame my score on the wind.
 

Mike Boyd

Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
5 generations of my family lived at 6th and Turner (now Hermosa) and looked out over the vineyards to Kaiser Steel in Fontana. If you look at this area from say Corona or Chino during a Santana wind you can see a half-dozen "fingers" of dirt blowing down off the alluvial fan below Cucamonga and Ontario peaks. They go right through Fontana and Cucamonga. Very windy area. Ever seen a line of big rigs tipped over on the I-15?

Back when I was a child there was nothing out here but old vineyards, dirt roads and Kaiser Steel. I had a vivid dream when I was about 10 or 11 of this whole area being covered roof to roof and people driving around in tiny cars. LOL... pretty accurate dream.

In another life when I was climbing poles for SoCal Edison, we were working storm damage in Ontario along South Euclid Avenue. While ascending a pole at the height of a storm, one wind gust was so strong that it flattened me against the pole like a newspaper. Luckily, I was able to grab onto a cross arm until I could get my "hooks" back in the pole. My hard hat blew off at the same time and probably ended up somehere in the Chino hills. It would have been an un-guided missle. These are the SANTANA winds, now incorrectly called SANTA ANA winds.
 
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