I finally figured out how to make a .jpg out of an excel graph. I still can’t figure out how to make it show up here if that is even possible. I also found a good site for all historical sales data in San Diego County. Try http://www.sdlookup.com and go to the “Closed Sales” part.
This is all the historical sales data I could find for all 12 (identical) units in the complex. You might find this interesting:
The surprising thing I noticed is that the prices people were paying in 1997 were the same nominal prices as in 1985. That is a pretty flat trend line until late ’01 to early ’02. The slope of the graph really increases at that point. I think the scale gives a pretty true indication of the effects of easy financing. Note how the “peak” price is really a pinnacle due to the sale earlier this year. The last 6 points represent 5 different units.
I also need to correct my statement earlier. I don’t think #5 and #6 will end up being foreclosures due to the fact that the current owners bought these well before the current runup and ridiculous financing. I made an assumption that was unwarranted.
