I think I would have won regardless. I also fully expected massive gov’t intervention. both Adam and I widely predicted it here last Fall. It is too easy to get sucked into the doom and gloom mentality. I have been doing some poking around on some of the markets i thought would get devastated and they dont look as bad as I would have guessed.
For example, I thought Bressi Ranch would get decimated. I just got a report of all the homes there and calculated what percentage of owners put down less than 20% on their homes and yes I checked to see if there were 2 loans on the properties. I figure anyone who put 20% down likely has more but put that down to get the best rate. I understand this isnt perfect but it’s a good swag number in my opinion. IMO opinion most of the folks that put down at least 20% should be OK. Some wont but some who put little down will be fine also.
There are about 500 homes in Bressi. How many do you think put down less than 20%?
I looked at LC Greens and it looked very similar and even stronger.
BTW, no way do we ever see nice 4BR+ 2600 to 2800 sq ft homes in LCV or Santa Fe Trails selling under $500K when people are killing each other to pay $325 to 350K for 1700 sq ft homes in oceanside. Aint gonna happen…no way….no how!
