Long day… went from UC to North Park to Eastlake to Imperial Beach… what fun… Anyways the kids are in the bath and mom is watching them so I get to get my fixx in.
Okay so I will kind of stay away from commenting on the merits of the neighborhoods you mentioned over each other. They each have alot of good to them. It looks like school districts are a don’t care since the kids are in college.
4S, Torrey Highlands and Scripps… well my two cents (which is about what it is worth) is that out of those 3 4S and Stonebridge in Scripps are the most likely to suffer the heaviest depreciation. Maybe some of the newer inventory in Scripps south of Scripps Poway Pkwy but north of Spring Canyon may take a good beating as well. I have already seen some whopping losses in Stonebridge and ocrenter has an excellent pulse on 4S. Personally in Scripps I am a sucker for south of Pomerado but that is just me… plus it is out of my league until I get a job working for Rustico or sdr… Torrey Highlands is pretty cool and contrary to claims in a post a few weeks ago that it has not gone down, it has from the peak… I know the owner (or shall I say I have spoke to the owner) of the Torrey Highlands listing on Entreken. That was another case of someone giving me the boot when I gave them my pricing outlook of the market. It will be interesting to see what that home gets as they are asking 1.045-1.095M… I just don’t see that happening but ya know what? Alot of people like Torrey Highlands.
Good to see you are budgeting or running a scenario of depreciation out… I would add more margin into the worst case, that is punch up 35-40% just as a really bad case. Again, I am not sure that this matters if you are keeping the home for retirement. However!!! It would be interesting to see what you could buy for if it indeed went that low.
I am not trying to talk you in or out of buying, just trying to make sure you run out each of the scenarios to all possibilities.
