Wow ex-sd I am in awe!!! I am jealous of my neighbor who sold his house for 2.5 in 2005. I sold mine in 2006 (Dec) for just over 2M (his should have been at least 200K more than mine anyway), and the current houses are going to sell for 1.8-2.0 this year (if any sell – it’s not looking good).
Olivenhain is dead… Really, really dead. My Realtor is in terrible shape and can’t believe how dead it is. The funny thing is Amy, that the homes for sale have been on the market for close to a year and still show a days on market of 1-50 days. The new homes which were for sale in the 2M’s are now in the 1.6’s-1.8’s and they still don’t have buyers. My neighbor has dropped his price by 300K and still can’t get a buyer for less than I paid, we sold because I didn’t want to sit on the house and commute for a year.
It is awesome there (other than the traffic and the water bills)… But in a downturn it will suffer much worse than many places. Execs are always moving in and out there. But there aren’t any buyers. So anyway – the bubble has JUST STARTED to burst. It will take 5 years at least to deflate (I think much worse) and very few people will be jumping in to Olivenhain. 2002 prices aren’t even on my radar – I think that we will see those this winter and that will not even start the ball rolling south.
