To add to SDR's comments.. I believe a few of the ones around 2500sqft that were $839k or below were all problem homes.
For instance, I saw a few "better priced" in Torrey View Court, Palacio, and, San Raphael . BUT, if don't know
1. Torrey View Court is really close to the 5 freeway (it's the homes you see on the mountains on the east side of 5). While you get an ocean view, you have to put up with a lot of noise. Also, the area I believe is gated, so this means higher hoa for a detached home ($160/month)
2. San Raphael. The homes here are packed pretty tight with a very tiny back patio ( I wouldn't even call them a backyard). Again gated community, so hoa hell ($158/month)
3. Palacio. Gated community, plus next to a golf course, plus severely underfunded HOA +construction quality issues (drainage,etc)….
As far as sellers being in denial in 92130. I can say yes, that's true. This home in La Strada in Torrey Hills was on the market for the past couple of months between $975-1.01 million. I thought this wasn't bad, considering it was a nice home. The person bought in 2004 around $900k. No sale, and months passed. I thought he/she would have lowered the price. I looked recently and guess what?
Take a look at MLS#076086014.
He/she raised the price to 1.1 million. Un-frickin-believable.
I don't deny home prices in CV has fallen and will continue to fall. BUT, it sees like a good portion of sellers are simply willing to just sit it out. The ones that have been priced more aggressively where the ones that folks either had to move due to a relo, divorce, or were short sales/REO's.
