Been on the road but kids are asleep and time to get my piggington fix in….
I to be vague but it depends on the area. Condos pretty much everywhere (IMO) are at 2004 levels and below. I don’t have any condo listings right now, nor do I have any buyers looking at condos but I have been on a few listing appts for condo owners. They all were very disappointed at my pricing recommendations and did not use me. I noted that in the comp searches I did for them that the pricings were actually BELOW 04 pricing. The last appt was for a condo downtown.
Even for detached homes in less desirable areas I am seeing at/near/below 04 prices. Escondido, Lemon Grove… even in some middle income areas like San Carlos I am seeing 04 pricing more or less. Absolutely 04 or less in Eastlake…
In some of the other areas like Scripps, and north county coastal SOME of the homes have held up better and are a little above 04 pricing. However those places didn’t peak in 04, they peaked a bit later…
Sorry if that is vague…
I think that the posters here more or less have it right. However I think that there are localized submarkets that tend to hold up better then others. Just like some submarkets fall faster then others. I am not so sure that the Piggingtonians believe or digest that fact. Most people that post on the board here will say that even those stronger submarkets will fall eventually. This may or may not be true, I cannot say.
