PS,
No that is not where docteur lives nor is it as nice in my opinion. I nearly sold a house up the street from him last month (I know you will ask so here’s why: buyer changed mind and now wants something more expensive in Del Mar W of 5 which will take some time to find the right house) and if he is in one of the locations I believe his is in he has nothing to worry about. There are some spectacular lots/locations where he lives and I suspect he has one of them.
I believe the reason for the drop is exactly what I predicted and have been expecting all along. While the fundamentals may have been weak behind the price increases from 2001 to 2003, there were ABSOLUTELY NONE behind the rise that occurred from Later 2003 through 2004. There was nothing, absolutely nothing to support these values and I expected tehm to evaporate almost overnight which they have. From here on out I don’t expect the decline to come so easy as there were some fundamentals behind these increases and we’ve already got 4 years of inflation to help prop them up further.
