Other SD Realtor here. Funny you mention Crest at Del Mar. Had a listing appointment TODAY with an owner there. She bought back in 2004. She paid 495k and has the 3/2.5 floorplan, I think around 1271 sq feet or something like that. I showed her the chronology of what has happened there. By mid 2005 prices for her floorplan had shot up to the mid to higher 500's. Then in 2006 they started coming down FAST. The last sale of her floorplan was 10/06 and it closed at 460k! She was still thinking she could get mid 500's.
First I'm fat and lazy, not SD-Realtor. Second, I think your potential client had a 2 bedroom, not three. There is no 3/2.5 1271sqft at Crest. The mid 500ks sound consistent with what 2005 would be. But truthfully, I didn't follow anything smaller than 3/2, so I don't remember.
