Buyers in the Carlsbad real estate market have many options with regarding to attached and detached homes. But for many affordability, despite the declines in prices, remains an issue. While there are a number of affordable housing apartments for rent in Carlsbad, affordable housing for purchase is rather limited.
But there are exceptions, one of which is the Mulberry condo complex in the master planned community of Bressi Ranch.
Mulberry is an attractive complex that blends well with the architecture of the detached homes in Bressi Ranch. As an added bonus, Mulberry is located within walking distance, or a short drive, of the Bressi Village Shopping Center which is being built; the Trader Joe's just opened in the last few days as has the Stater Brothers grocery store, and more stores are nearing construction completion. There is a private residents' club with pool, recreational areas, parks, places to walk and close proximity to shopping and dining in Carlsbad.
Mulberry is an affordable housing complex that is income restricted, and residents must meet the income guidelines (these are maximums): for 1 person, $44,250; 2 people, $50,550: 3 people, $56,900; 4 people, $63,200; and 5 people, $68,250. The Affordable Housing status stays with the property for 15 years from the date of purchase.
Other City of Carlsbad restrictions include:
- units must be owner occupied
- Within 15 years from date of purchase units may only be sold at low-income price
- monthly mortgage payments can not exceed 35% of the household's income at the time of purchase, the level considered to be "affordable".
Residents pay HOA fees of $175/month but are exempt from the Mello Roos fees that other Bressi Ranch homeowners pay.
Mulberry homes, built in 2005, are either 2 or 3 bedroom units (3 person capacity for 3 bedroom homes) on either 1 or 2 floors. Sizes range from 863 SF up to 1,121 SF, with 1 garage parking space and additional parking (varies). There are 5 Carlsbad condos on the market in Mulberry at the current time, priced from $166,194 to $229,000.
If you are interested in owning your own home, and meet the income guideline maximums, Mulberry at Bressi Ranch may be just the right thing. Please let me know if you need further information.
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If I can provide more information about Carlsbad homes and real estate for sale and surrounding areas, the housing market in general (or locally), or otherwise assist you, friends or family in a home search or sale, please contact my mobile office or text me at (760) 840-1360 or email me at JeffDowlerSolutions@gmail.com
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