[quote=CA renter]Absolutely, we are looking at the better homes/lots in better neighborhoods on better streets (or some combination, at the right price).
You’ll note that many of the homes you’ve listed are new builds from the peak years (2004-2006). Those would be lower today because every single buyer in those tracts bought at the peak, many of them with builder-financed mortgages that were just as “toxic” as the sub-prime stuff. The other homes you’ve listed are mostly in the San Marcos school district, which definitely affects the price relative to those in the Carlsbad or San Dieguito/Encinitas districts.
Like sdr pointed out, you really need to understand the nuances of the area. There are some VERY funky homes, lots, and neighborhoods around here. The least desirable with really “WTF” prices from the peak have indeed dropped, but the better homes and areas have dropped very little.[/quote]
OK, now I get it now. When I first read your post about how government intervention preventing NCC from crashing, I thought you mean all of NCC that sold in 2005 for $700k are now at $650k. What you really mean is the cream of the crop of NCC have held up extremely well. I can totally agree with that. Especially if you only look for established areas with buyers who bought long ago. I don’t doubt that there are nuances w/ every area and that certain home on certain street will fetch more than others.
BTW, I only listed house sold in 2004-2006 because a lot of the older homes weren’t sold in 2004-2006, and since I don’t know the area, I can’t assume their value around the peak. So I left those out.
I guess my posts were form from a misunderstanding of your point. I would never expect the cream of the crop to crash like the rest, especially in areas that are well established (be it MM or Encitas). There are a few lots I would love to have in MM, but they’re owned by long time owners and they’re not for sale.
