I read your posting and your arguments are thoughtful. While I disagree with your assessment I have to be honest and say we do not have enough hard data yet. I can DEFINITELY say that the amount of traffic I have seen in several areas of town has SEVERELY decreased. Of course some condo complexes have increased in value. However there are more that have not. For instance the original developers at La Jolla Regents sold out to another developer several months ago. That developer is moving forward with the next phase sales at below last summer pricing. Lucera in UTC is well below 2004 pricing. Many complexes in San Carlos have depreciated already. Provencal in Sabre Springs has depreciated. SFR’s in Lemon Grove have depreciated bigtime. What about Otay Ranch? What are your thoughts there?
This is what is frustrating for me. Alot of press likes to stick to the median price, and statistics, and studies.
Meanwhile I am down in the trenches working directly with the sellers seeing it first hand. You are on the appraisal side. So you get to visit homes in escrow! Good times!! Do you look at the cancelled, expireds, and withdrawns?
Why doesn’t anyone ever talk about the numbers of those? Why doesnt Dataquick ever publish the amounts of listings that went into those categories?
Again, I do respect your opinions and I think they are thought out and presented well. I don’t agree but I respect them.
