“If you look at the **timeline** as opposed to submarkets, you’ll see that very few areas have declined significantly since the Fed/govt started their major market-intervention campaign in late 2008/early 2009.”
“because the govt intervened *after* the lower end areas were hit, and *before* the mid-higher end areas were really damaged.”
Interesting theory CAR but I don’t think it really played out quite like that. Many good areas in San Diego had massive price declines at the mid-higher end all throughout 2009 and now into 2010. As an example, Aviara is currently trading at about 2001 prices for houses in the mid-high range but early last year I looked in that area and prices were significantly higher. Other areas that got hammered over the last 12 months that I personally follow fairly closely are Point Loma, Mission Hills, Mt. Helix, and Poway. I cannot believe some of the deals I am seeing go through in Mt Helix.
Some areas in NCC that come to mind that got decimated over the last 12 months are La Costa Greens, La Costa Oaks, La Costa Estates, Rancho Carillo, and Encinitas Ranch. Most of them are new tract homes but I saw some of the more established stuff on the hill in La Costa Estates trading for around 2001 prices as well.
