I have to second a previous opinion about Zillow not necessarily reflecting what the house may actually fetch. Moreover, I can bet that cashman’s former house is in a huge gated countryside community called “The Country”, in Diamond Bar, in the eastern part of LA County. Having lived in more humble accomodations in Diamond Bar during the 90’s (i.e. townhome), I know firsthand that homes in “The Country” are the most expensive that you’ll find at the outer edge of LA County, moreover not really in the same class as the rest of the millions of properties in the Greater LA/San Diego area. They are in a class of their own, so once again not a canary in the coalmine for housing in general. Having said that, I’ll bet drops in sales prices in this community as well, because I knew and still remember a realtor friend in 1991-1992 who told me firsthand the trouble she and her agency was having selling homes in “The Country” gated communtiy during ’91 and ’92.
We can beffudle ourselves as much as we want folks, but we can’t deny history. Cashman, I’d be interested to know how home prices in “The Country” fared between 1990 and 1994. I think you’d be surprised. Perhaps you might want to track and see if your former property actually sells for $600k more than what you got, I doubt it. But it would be interesting nonetheless.
