I’m very familiar with a particular condo complex up in Carlsbad. All of the units have the same square footage, albeit varying views and renovations. Last summer two middling units changed hands at just north of $400K. Despite a handful of units on the market since that time there were no sales until last month – one sold for $345K and the other for $338K. There is now a unit for sale at $299K. I don’t have to tell anyone that that’s an enormous year-over-year change.
