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Home › Forums › Closed Forums › Properties or Areas › Sunday visit to Otay Ranch
Otay and Eastlake not looking good on the resale front either. Lots of foreclosures and pretty dramatic price slashing going on. It looks like Temecula in more ways than those you mentioned for sure.
IMO I believe Otay and Eastlake in general will lead the charge… correction, continue to lead the charge in detached home depreciation for resale homes as well as foreclosure. This area has all the ingredients needed for the recipe… it was thoroughly built out, it was chocked full of buyers financing with 100% and/or reset financing, it has a high degree of speculation (flippers etc..). I am not positive but I think it is leading SD County in foreclosures right now at least for detached homes. (Purely a speculative statement)
SD Realtor
“I am not positive but I think it is leading SD County in foreclosures right now at least for detached homes. (Purely a speculative statement)”
It is way up there SD R. Unfortunately what we have both apparently not seen or researched is the ratio for foreclosures to actual housing stock numbers by these zips.
I agree with the speculation comments. I think speculation was born in Eastlake, long before it became cool. If you wanted to live in Chula Vista, Eastlake was a pretty good deal when a relatively big,brand new house came on the market for 250K….Just as a similiar home Temecula was in the late 80’s at around 140k.