A bank owned house in Carmel Valley (Great Meadow Drive) sold recently at near-peak pricing. They were asking 994.5k, which was less than what it was worth. It sold for $1.18m, which was, I think, somewhat more than it was worth. If I had to guess, I’d say the second-highest offer may have been 100k or more less than the highest offer. So there are definitely still people out there who will pay an awful lot for a nice house (it was a nice house). Too much, even.
