[quote=SD Realtor] Yes there are still alot of people underwater but nowhere near as many as there were in 2009. Furthermore that number is being whittled down daily.[/quote]
[quote=utcsox]
JTR had a post yesterday of CV heading for +20%.. Is that fairly close to what you are seeing also? I think the house on the post yesterday is either on Torrey Hills area or Carmel Country Highlands. South of 56, 4+ bedroom with one bedroom down stair.
If this is true, you will not be underwater if you bought it in 2011, 2012 time frame.[/quote]
It sold in March ’04 for 1.15M. March ’04 was a bit before the peak, but was fairly close to it, pricewise. So, if they get 1.2, which JTR says on the video he thinks they might, that’s peak pricing.
This one sold in Jan ’06 (two months after the peak) for just under 1.2M. The owners upgraded somewhat, and got 1.3M this month. The upgrades might’ve cost 100k, but wouldn’t be worth that much in resale. So, again, we’re at least at peak pricing for this house.
Are these outliers, or are we at peak pricing in Carmel Valley?
SDR, what are you seeing in CV and the other areas you’ve been talking about in regards to current pricing vs. peak pricing?
Once we’re at peak pricing, the only people left underwater are people who borrowed more than their house was ever worth. Are there very many like that?
