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PD.
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June 5, 2007 at 7:11 AM #9220June 5, 2007 at 7:16 AM #56672
PD
ParticipantPrices are certainly coming down here (not huge but a little). A few weeks ago I went to a couple of open houses and talked to the realtors. I was very open about the fact that I believe prices are going to come down further. Instead of denials, they were grimly silent.
June 5, 2007 at 7:16 AM #56695ParticipantPrices are certainly coming down here (not huge but a little). A few weeks ago I went to a couple of open houses and talked to the realtors. I was very open about the fact that I believe prices are going to come down further. Instead of denials, they were grimly silent.
June 5, 2007 at 7:49 AM #56688lostkitty
ParticipantOne of the houses recently listed is one next door to our dear friends. We visit every summer with them and two summers ago the house had just been purchased by a family from Phoenix. They were oohing and ahh-ing over the price, and how wealthy people are still seeking places in Coronado to own. These people were supposedly ultra-rich and told our friends they were going to use the place as a summer vacation home only. it sat empty most of the time. They were going to keep it for generations – as an investment. All the same blah blah that I hear sdrealtor saying about his very special clients.
Turns out it wasnt feasible. Less then 2 years later…. and making no profit – it is back on the market.
Tide comes in, tide goes out.
June 5, 2007 at 7:49 AM #56711ParticipantOne of the houses recently listed is one next door to our dear friends. We visit every summer with them and two summers ago the house had just been purchased by a family from Phoenix. They were oohing and ahh-ing over the price, and how wealthy people are still seeking places in Coronado to own. These people were supposedly ultra-rich and told our friends they were going to use the place as a summer vacation home only. it sat empty most of the time. They were going to keep it for generations – as an investment. All the same blah blah that I hear sdrealtor saying about his very special clients.
Turns out it wasnt feasible. Less then 2 years later…. and making no profit – it is back on the market.
Tide comes in, tide goes out.
June 5, 2007 at 8:52 AM #56714Bugs
ParticipantCoronado is going to remain a destination neighborhood until it and the rest of San Diego falls into the ocean.
The main reason to watch it as a market is to demonstrate how widespread and systemic the trend for decline is. Declines in Coronado prove that it isn’t just the beater neighborhoods that are subject to losses while the rich neighborhoods escape unscathed. It proves that even wealthy people from out of town won’t pay more for a property than what their options are and emotion isn’t the only factor involved.
June 5, 2007 at 8:52 AM #56737ParticipantCoronado is going to remain a destination neighborhood until it and the rest of San Diego falls into the ocean.
The main reason to watch it as a market is to demonstrate how widespread and systemic the trend for decline is. Declines in Coronado prove that it isn’t just the beater neighborhoods that are subject to losses while the rich neighborhoods escape unscathed. It proves that even wealthy people from out of town won’t pay more for a property than what their options are and emotion isn’t the only factor involved.
June 5, 2007 at 10:47 AM #56748ParticipantI guess my point was that I dont think there are as many out-of-state “wealthy” buyers as we think.
I think there were many ‘speculators’ – who are now leaving before it is too late.
June 5, 2007 at 10:47 AM #56771ParticipantI guess my point was that I dont think there are as many out-of-state “wealthy” buyers as we think.
I think there were many ‘speculators’ – who are now leaving before it is too late.
June 5, 2007 at 3:05 PM #56861sdrealtor
ParticipantSorry no blah blah blah here. My very special clients are all buying primary residences not second homes.
June 5, 2007 at 3:05 PM #56883ParticipantSorry no blah blah blah here. My very special clients are all buying primary residences not second homes.
June 5, 2007 at 3:27 PM #56871SD Realtor
ParticipantMaybe 6 or 8 weeks ago I posted about a Coronado listing appt I went to. Nice couple but they were in reality simply using me to leverage their friend who was a realtor so that they could get a lower commission. Tough beans for me but it is part of the job.
They have a 2/2 condo on F street that just went pending. They had a contingent offer for awhile but they just did go pending. Anyways I am quite surprised that they go the price they were asking for.
Coronado is a highly desired destination. There is also alot of old money in Coronado. Both in state and out of state. I don’t view Coronado as ever having or being subject to much speculation. I am sure there was some, but not as much as other parts of town.
SD Realtor
June 5, 2007 at 3:27 PM #56893ParticipantMaybe 6 or 8 weeks ago I posted about a Coronado listing appt I went to. Nice couple but they were in reality simply using me to leverage their friend who was a realtor so that they could get a lower commission. Tough beans for me but it is part of the job.
They have a 2/2 condo on F street that just went pending. They had a contingent offer for awhile but they just did go pending. Anyways I am quite surprised that they go the price they were asking for.
Coronado is a highly desired destination. There is also alot of old money in Coronado. Both in state and out of state. I don’t view Coronado as ever having or being subject to much speculation. I am sure there was some, but not as much as other parts of town.
SD Realtor
June 5, 2007 at 4:51 PM #56900ParticipantI talked to realtor about a house in Coronado today. He told me that the seller was very motivated and would negotiate. We talked briefly about how prices had come down a bit. He mentioned that the current asking price of the house was less than an a previous offer that they had turned down. “If only we had known,” he said.
June 5, 2007 at 4:51 PM #56923ParticipantI talked to realtor about a house in Coronado today. He told me that the seller was very motivated and would negotiate. We talked briefly about how prices had come down a bit. He mentioned that the current asking price of the house was less than an a previous offer that they had turned down. “If only we had known,” he said.
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