Question on weighing: If an asset is no longer appreciating 10-20% yearly is it worth as much?

I had no idea that a La Jolla address carries such a price premium.

La Jolla Shores/Cove
Birch Aquarium
Torrey Pines State Beach/Reserve/Golf Club
UCSD/Medical center
Pharecuticals in Torrey Pines: Pfizer, Takeda (San Diego), Genomics Institute of Novartis Research Foundation (GNF),
Numerous other Bio-Techs in UTC/Mira Mesa
http://www.biospace.com/company_region.aspx?RegionID=12
(this is a list of So Cal, but there are huge concentrations in Torrey Pines, UTC, and Mira Mesa)

Lots of MD’s/PHD’s with money that like the beach.