jstoesz, that deal in La Playa seems very shady but I think the answer to your question is yes. Point Loma does indeed appear to be in a freefall at least to me and I have been monitoring the sales activity there for the last 2-3 years. As folks on this board have said for years the coast is not immune. When the short sales and REOs are selling at prices 20-30% below list prices of similar homes you know the sellers in the area have no pricing power. I would say the schools are a big factor.
