[quote=sdrealtor]I dont buy it. Dr Feelgood, Ms Starlet, Mr CEO (ret) and Mr Nobel Prize arent paying attention to prices in 4S Ranch or even Santaluz. They are looking in Del Mar, La Jolla, Coronado, Laguna, Newport Coast etc. What happens further inland is outside their line of sight.[/quote]
A significant number of those buyers are willing to move if the price differential is compelling enough. What you’re suggesting is that buyers like to compete against themselves, and are willing to pay whatever delusional prices the sellers *wish* to get, irrespective of whether or not there are other buyers willing to pay those prices. I’m not buying it.
If they can get something better a few miles away for 25%-50% less, anyone with half a brain would ignore the pie-in-the-sky sellers and look elsewhere.
edit: I’ve known a few wealthy people in my day (multi-millionaires+), and not a single one got rich by overpaying for things.
