I’m in an older attached CV community (built around 1990 when they still put in open areas, grass, streets are wide, much nicer than the newer scrunched up developments IMO). Anyway my observation is people are hunkering down for nuclear winter, just waiting for the good old days of 2005 to return. Most of the owners bought in the 90’s for $180K-$250K, yet they seem to feel entitled to $500K-$600K and they won’t sell until they can get it. Last fall (2007) there were about 6 units on the market, now there are none. Only 1 sold, and guess what, that was the lowest price, what a shock. In the past week I’ve heard 2 different people who I don’t believe know each other say that they each have “a friend” who wants to buy their unit for $5xx,xxx when they decide to sell (which I find extremely suspect since the last sale was mid 400’s). Anyway I’m surprised with the stability, no one apparently has to move for job, divorce, death, or whatever.
