Just about everyone in my family (about 30+ of us now) have lived along the coastal areas of San Diego since the 1970’s. Since everyone bought their homes long before any significant price increases, we will always be ahead of the game, (no HELOC’s here) but since the recent extreme price escalation, we have seen some fluctuations off an on. For example, my brother lives in Sunset Cliffs–right on the ocean–and homes there have moved up and down a bit.
Same deal for others in La Jolla, PB, Del Mar, etc.
Personally, no one we know is or will be desperate to sell multi-million dollar properties near the ocean at “fire sale” prices. From the people I know, I really believe that about 80%+ of “old school” (those in their 40’s like me, or older) San Diego residents are just fine financially–you’ll find the more disastrous housing decisions made by San Diego “newbies.”
I would think your best best would be to work with a realtor and look for distress sales–homes that have been purchases in the last two-three years. They might not be in the exact location you have envisioned, but you might find a great deal!!
