Looks like we have a couple new entries proving that prices in La Jolla are not holding up as well as the realtors at open houses keep trying to say they are.
Just in today…
Bought in 2006 for $2,300,000 and just sold for $1,865,000. Poof, $435,000 disappears! 19% in two years http://www.sdlookup.com/Property-5CDDB23F-716_La_Canada_St_La_Jolla_CA_92037
btw, I went to this house when it was an open house, and it’s in a fantastic part of bird rock, and was a very nice house with great curb appeal. This is not some junky foreclosure.
And here’s a condo up by UTC (I know, some of you don’t want to call the area east of the 5 La Jolla, but it’s got a 92037 zip, so I’m gonna include it anyway)
Bought in 2006 for $535,000 and just sold for $391,500. A loss of $143,500 in just over two years. That’s a 27% loss for those of you who want percents.
There more losses from condo’s east of the 5, but I figure one good example sets the tone.
