I generally like clean, funky neighborhoods with character/personality, or places with walkable downtowns that have lots of restaurants and cafes that are close to employment centers (if you are familiar with Bay Area, think Oakland’s Rockridge or Castro St. in Mtn. View, among many others). However, if places like those above are not available, places like Carmel Valley are a close second — quiet, close to places like La Jolla/Del Mar, very close to employment centers, lots of walking/biking trails. The place I rent, I can walk to the plaza (on the corner of Carmel Creek and Valley Center). Granted, it’s a strip mall, but has grocery stores and some great restaurants. Those reasons, along with the many mentioned before me, is probably what makes it so desireable. I’m not saying prices won’t come down; I’m sure they will later but probably much more slowly than many hope.
By the way, how are condos/townhomes in this area doing?
