“do you have a sense if there is a large number of people who belong to these categories”
These are all wildly speculative guesses on my part:
a) investors who got in the market close to the peak;
Probably a lot less than in areas with lots of condos and cheap houses, but some. One offer we got on our house was from a speculator (that’s what our realtor said about him, anyway.)
b)those who have cash flow problems if they stretched too much to buy;
Probably the same as or less than most areas. Higher incomes than most areas, but higher prices, also.
c) those who move out of area.
Probably the same as most areas. It seems to me there are a lot of people who work in fields that require them to move as their companies change their configuration, or the project their startup biotech was working on ends, or their engineering job got sent to India. Again, wildly speculative and I really don’t know. That’s just my feeling.
Also, and this is almost a different subject (but not quite):
I think that, regardless of how many people in CV (or any other particular area) need to sell, an overall decline in the market will hurt prices everywhere. Say prices drop everywhere but CV drop by 40% (hypothetical situation). What’s to keep the next house that sells in CV from having to sell at a 40% discount (or nearly 40%)? CV is historically more desireable than PQ by a certain percentage and less desireable than Del Mar by a certain percentage. Why would that percentage change?
That’s not a rhetorical question. I’ve heard people say that certain areas hold their value better, but I don’t understand why. And I’d like to.
