If it did get an offer for 1.5 that’s really crazy.
There have been a number of sales, in the 1.5 range that are better places, and I can think of several places on the market in that range that are much better deals than this place at 1.5.
But after watching the la jolla market for the last couple of years I can tell you that there is no limit to people’s foolishness.
Having said that, I will still stick to my original commentary, which is that there is a good bit of softening, and even some serious pain (ie loss of capital) in La Jolla.
