Houses along the nicer coastal areas will probably drop less (in %) than many of the other areas of SD but they too will drop. I used to live in Leucadia for many years. I just went on Redfin and looked at the map of properties for sale and I notice that there are several homes in Skyloft that were asking $900k+ a year and a half ago…..now around $799k and a couple are long term owners so they have smelled the air and figure that it’s time to cash out. My guess is that the coast properties will drop another 25-30%+ from where they presently are if borrowers will now have to qualify for a mortgage with proven income, rates remain high for jumbo loans and foreclosure sales drive the comps down. It’s a good time to have a lot of cash and not be a homeowner so you can afford to rent and wait for the storms to pass. I would rent for a minimum of three years because I think this whole thing is not going to be over for a minimum of three and as long as five years and when it hits bottom, prices are not going to ramp up quickly again.
Can’t help you on the schools since my kids all finished the local high schools in the Encinitas area a long time ago and I have no idea how much they may have changed.
Good luck and congratulations on being smart enough to cash out while the getting was good.
