[quote=sdrealtor]WFB
Just giving you the business. Congrats and I think the vast majority of the damage has already occurred in SEH. The other issue is that up in SEH the most highly upgraded homes were bought by people drinking their own RE Kool Aid. The quality of homes you can get up there now is likely far beyond what you can expect down the road as many of the nicest properties there ended up in weak hands.[/quote]
I looked up there in 2005 and 2006 (mostly just to have fun, it’s a strange hobby My wife an I have of looking at new home tracks and open houses on the weekend, been real busy lately so we have not had time to enjoy it lately),
At that time the builders were giving away some fairly nice upgrades for free (One had a built in Sub-zero and travertine all downstairs and in all bath laundry etc…) (ocean view and all).
Very nice but not worth 800K OK maybe it could have been actually worth 800K but I doubt very much that a lot of the people buying them could even come close to affording them.
But I am biased that way a little, I kind of don’t think most SD people realize just how nice a place they live in or how lucky they are (some will even regret selling at the top I would bet in a few more years say 5 – 7).
But that is just my opinion.
Edit to add comment:
I guess you could say that my issue when housing was at the top in many area’s around SD including T.V. , was not that housing was way too much over valued (although some of it was way out there especially for the older and smaller homes), but that there was no way in heck most of the people buying them at the top could afford them, ie.. they should have been buying 1000 sqf basic condo’s not 3000 sqf decked out mc-mansions with Ocean views or on a golf course.
And that is what the builders should have been building (homes people could afford).
