Yes, thank you for confirming my impressions. I think this is an area with beautiful homes but it does not have the attractions of locations such as Coronado, Del Mar, La Jolla to command prices of 500-600 dollars and more/sq ft. At least Rancho Santa Fe homes usually have spacious yards to enjoy……
I am glad to hear that I am not the only one that just doesn’t get it. I felt like the child wanting to say something about the Emporer’s clothes as I walked with the realtor and looked at the prices of the homes in this area. I think the high end homes in certain areas are going to take a bigger hit than people realize. I have heard some say that homes above 1.5M are not effected as much during a downturn because people looking in this price range are not as strapped for cash…….but from what I have seen people making 200-300K/yr stretched themselves as far with ARM’s etc. in the past 2 years as the median income folks. I think the full spectrum of the housing market will feel the blow this time around.
