There is plenty of trouble brewing in Coronado…705 H going to foreclosure…701 H listed as a short sale…There are plenty more coming. I think every Billy Box on the Island just went down $200K in value. I know what you mean, people are finally admitting that prices are no longer rising, some will even admit that homes are losing value…just not their house. It’s a start, a year ago nobody believed prices would ever stop rising. A realtor tried to reason that so what if my dream house goes down a bit…I’d be in it for the long haul. I told her that if my dream home lost 20% of its value at the present price point, it would become my worst nightmare.
