Thanks for the feedback. I am primarily looking for a place in the village itself. I had a good friend that lived in the Cays but eventually chose to move his family to the village. He and I had many discussions about the market and I used a lot of the information gained here in our talks. I would like to think that our discussions were a prime driver in his decision to move to the village but to rent vice buying.(He was thinking about buying the place in the Cays) He found many of my(or actually Rich’s) arguments very persuasive. I had a couple other friends that I did not discuss this topic with. A couple of them bought houses in the village and they were, frankly, miserable being caught under an oppressive mortgage in a tiny house.
I am of similar mind that the Coronado market will probably one of the last to capitulate. The main uncertainty that I have is not knowing or even having a decent grasp of how many of the houses bought there during the run-up were speculation driven. I assume, perhaps wrongly, that the number is lower than in surrounding areas. If that assumption is correct there might not be as much pressure on pricing. Couple that with most of the homes being in the top tier for valuation I expect that the market there will reach nadir in the last groups.
Casca, thanks for your comments as well. Personally, I hated the two houses built on the single lot. I thought it was a shame to tear down a traditional cottage or early Craftsman style house and put a couple modern boxes in its place. But, whatever the market will bear, or word to that effect.
Any and all advice is appreciated. BTW Casca, did you used to post over at NeptunusLex’s place. The name is familiar.
