[quote=sdrealtor]My parents moved to SD in mid 80’s. They were trying to convince my then GF and I to move here. Prices were moving fast between mid and late 80’s. People were camping out for houses then.So when comparing prices from say 86 to 88 or 89 its important to consider they were increasing crazy fast over that period. Though nothing like we are seeing now[/quote]
I do remember those days, and agree today blows that away.
We bought that first place for 100K in 1989 and sold it in 1992 for 135 (prices within a grand or two, I’d have to look). 35% in three years, 30% after realtors fees if I recall. I’m not quite sure how we worked it as prices were already sliding by 1992. My realtor didn’t show up for the first showing (I believe my realtor was both buying and selling realtor) so I showed the house, explained all the features…they bought it that day full price…realtor did nothing but put it on the MLS and collect her fee!
We bought a brand new house in 1992 and a few of our neighbors were a little upset that we paid quite a bit less than they did just 6 months earlier. As prices continued to slide for the next couple of years, I remember all of the neighbors standing in the middle of the street saying “What are we going to do?”. So I asked “do you plan on selling in the next year or two?” They all said no. So I told them to enjoy the temporary reduction in property taxes and not to worry! It’s SoCal! Prices will come back!
