I have a question for you Jazzman … Was LJ proper where you were looking for a SFR to buy before you got frustrated with the local market there and left SD? And if so, and you had been successful making an acceptable deal there, would it have been the first property you owned in a CA coastal county?[/quote]
I chose La Jolla because prices are at the stickier end of the spectrum. If you do the same analysis on many other places, coastal or otherwise, the price differential over the same period is an eye opener. Homes are over-priced. It’s a lot to pay for what you get, doesn’t matter what, so no justification in my view. I’m not swayed by arguments of affordability, or location.
To your question, we looked at La Jolla, Del Sur, Encinitas, Laguna Beach, Pasadena, Marin County, but decided the best of all places was Santa Barbara. We could afford a home in most of these places, but that wasn’t the issue here. I believe there is an innate sense of value for money (sadly being eroded by easy money). Many homes lacked aesthetic appeal, build quality, with tons of deferred maintenance. In a nutshell, pretty disappointing.
My experience with real estate is not confined to the last few years, nor just in the US, so my perspective is going to differ somewhat from yours.
Now I have a question for you? What is your interest in real estate?
