I’ve noticed there are fewer $1 million homes for sale in Del Cerro, does anyone have any sales information for those $1+ million homes that were listed a few months ago? Did they go off the market or sell? Supposedly, from a news article I read today San Diego has gone back to 2003 prices and yet many of these homes have prices that are 40 to 50% above what they sold for in 2003. Is this realistic? Does anyone want to give their opinion on what these 2500+ sq ft homes in Del Cerro are worth? I think they are worth $250 per sq ft. These people that bought over the last 3 years are all under water, hopefully the banks required large down payments so they don’t get hurt. But many of those banks that gave these loans are probably out of business. Dumb lending pratices to give loans to areas that were going up 20+% per year. All the doom and gloomers seem to have been proven correct.
