Santaluz is way overpriced. It’s not even at 2003 pricing yet. Compared with its direct competitors Del Sur to the north and Park Village to the south, it’s a lot more expensive, but you don’t get that much more for your money.
Losing 20% over 2 years is not out of the realm of possibility.
Of all the high-end communities in North County, Santaluz is the one most likely to experience a crash landing. This crash landing is already in progress:
I can’t say much about the segment your friend is looking in … it all depends on viability of the market for $2.25m tract houses without land & far from the ocean. I would’ve sincerely doubted that such a market exists, but your friend is a counterexample. Why is he interested in Crosby instead of, say, this:
