Even though you didn’t

[pemeliza]

Even though you didn’t mention the listing I knew exactly which one you were talking about immmediately.

http://www.sdlookup.com/MLS-100019830-7143_Babilonia_St_Carlsbad_CA_92009

I tell you what CAR, the short sale on Obelisco Pl that went low seems to have crushed this area of La Costa:

http://www.zillow.com/homedetails/2637-Obelisco-Pl-Carlsbad-CA-92009/16656942_zpid/

This shows what a couple of distressed properties can do to a local submarket. That sale price of 1M is unquestionably a 2000 price. I was looking in the area during that time. The power line and school district hurt the value but that was a great deal IMHO. That is my favorite part of La Costa because as you said those are true custom ocean view estates.

We put a strong bid on this REO but got outbid by a wide margin:

http://www.zillow.com/homedetails/2618-Obelisco-Pl-Carlsbad-CA-92009/16656946_zpid/

Looking at the direction that neighborhood is headed, it is a good thing we didn’t get the house.

Save your ammo CAR. Things seem to be going your way.