I brought up Carmel Valley only because docteur, a 40-year veteran of real estate in San Diego, said it would keep rising in value. He emphasizes that he is so much more knowledgeable than me, so much more savvy and clever about real estate issues. So I set to find out if he could be right…
Could coastal properties keep rising in value through this downturn? The answer: definitely not! Not only is his neighborhood “nothing special” (sorry, no offense, just repeating what a realtor told me), but in the past downturn every neighborhood dropped, including a RSF Covenant REO that lost 30%.
Also, CV is dropping already.
Personally, I would never buy a builder tract home, where every home looks the same. None of my 3 homes were tract homes. Unfortunately, I let my husband decide on each of our 3 homes and I ended up in locations I hated, out in the boondocks. The rentals we’ve had have been just my style! Our previous house, while beautiful, was on a crappy road in the wilderness, definitely rural. You realize we live in a desert when you are surrounded by brown shrubs. I digress…. So I have zero interest in Carmel Valley or any other clone neighborhoods. This post and my other CV posts were merely a research project.
