I would agree with what the others said about CV with regards to it coming down. In general CV is still stuck in ultra sticky mode because it is a desired destination but I do feel it has come down. Not much distress there though.
As far as Scripps goes I am just as frustrated. Essentially the 11494 Winding Ridge property that is in escrow right now is selling at a 2003 price level for that west side of Scripps that you are on, up on the hill. While that is not the price dump you want, that is still not bad. I do agree that CV is stickier then Scripps and I believe that CV is in general more desireable then Scripps due to location and proximity.
In the year of 2000 there were some sales for 3000+ sf homes in your area for 600 and up. By 2001 they were in the mid 700’s. Can they run down to the 600’s again in 3 years? Perhaps they can. I don’t think they will but ya never know… depends on employment. We have a big notch in the employment picture and a runup in rates, then yeah they MAY drop to that level.
