Menu

Home › Forums › Housing › 25% off in a very nice part of Carmel Valley

Viewing 15 posts - 1 through 15 (of 106 total)
1 2 3 … 6 7 8
  • Author
    Posts
  • January 30, 2009 at 2:47 PM #14944
    zk
    Participant

    http://www.zillow.com/homedetails/10573-Whispering-Hills-Ln-San-Diego-CA-92130/51079742_zpid/

    This big, beautiful house on the canyon sold for 1,949,000 in 2005. It sold this week for 1,472,500.

    That’s 25% off the peak in one of the more desireable parts of Carmel Valley.
    The ones on Lago di Grata circle are also quite a bit off the peak.

    Perhaps CV was immune to the subprime mortgage woes, but what’s been happening lately is just now starting to affect all of Carmel Valley. As jobs are lost and option arms reset, I’d say this trend will accelerate, and we’ll continue to see that Carmel, Valley, even the better parts, is absolutely not immune to this downturn.

    January 30, 2009 at 3:01 PM #338917
    Coronita
    Participant

    25% off peak 2005 is nothing. between 2004-2005, there was substantial (if not ridiculous )appreciation during 1 year. and plenty of people paying through their noses in 2006.

    January 30, 2009 at 3:01 PM #339250
    Coronita
    Participant

    25% off peak 2005 is nothing. between 2004-2005, there was substantial (if not ridiculous )appreciation during 1 year. and plenty of people paying through their noses in 2006.

    January 30, 2009 at 3:01 PM #339345
    Coronita
    Participant

    25% off peak 2005 is nothing. between 2004-2005, there was substantial (if not ridiculous )appreciation during 1 year. and plenty of people paying through their noses in 2006.

    January 30, 2009 at 3:01 PM #339371
    Coronita
    Participant

    25% off peak 2005 is nothing. between 2004-2005, there was substantial (if not ridiculous )appreciation during 1 year. and plenty of people paying through their noses in 2006.

    January 30, 2009 at 3:01 PM #339463
    Coronita
    Participant

    25% off peak 2005 is nothing. between 2004-2005, there was substantial (if not ridiculous )appreciation during 1 year. and plenty of people paying through their noses in 2006.

    January 30, 2009 at 3:03 PM #338929
    zk
    Participant

    [quote=flu]25% off peak 2005 is nothing. [/quote]

    By this I assume you mean that you believe that there is a lot more to come. If that’s what you mean, I totally agree.

    Any way you slice it, a half a million dollars (plus transaction costs) is a lot of money for some poor bastard to have lost in 3 years.

    January 30, 2009 at 3:03 PM #339260
    zk
    Participant

    [quote=flu]25% off peak 2005 is nothing. [/quote]

    By this I assume you mean that you believe that there is a lot more to come. If that’s what you mean, I totally agree.

    Any way you slice it, a half a million dollars (plus transaction costs) is a lot of money for some poor bastard to have lost in 3 years.

    January 30, 2009 at 3:03 PM #339355
    zk
    Participant

    [quote=flu]25% off peak 2005 is nothing. [/quote]

    By this I assume you mean that you believe that there is a lot more to come. If that’s what you mean, I totally agree.

    Any way you slice it, a half a million dollars (plus transaction costs) is a lot of money for some poor bastard to have lost in 3 years.

    January 30, 2009 at 3:03 PM #339381
    zk
    Participant

    [quote=flu]25% off peak 2005 is nothing. [/quote]

    By this I assume you mean that you believe that there is a lot more to come. If that’s what you mean, I totally agree.

    Any way you slice it, a half a million dollars (plus transaction costs) is a lot of money for some poor bastard to have lost in 3 years.

    January 30, 2009 at 3:03 PM #339473
    zk
    Participant

    [quote=flu]25% off peak 2005 is nothing. [/quote]

    By this I assume you mean that you believe that there is a lot more to come. If that’s what you mean, I totally agree.

    Any way you slice it, a half a million dollars (plus transaction costs) is a lot of money for some poor bastard to have lost in 3 years.

    January 30, 2009 at 3:18 PM #338934
    jpinpb
    Participant

    I’ve said before, during the ’90’s I saw 20% off the top like that!

    I kept hearing how Carmel Valley is immune and I say it does not have its own sustainable economy, does not live in a protected bubble and will fall just like everyone else.

    In fact, most of Carmel Valley’s McMansions were built during the bubble. Remember that back in 2000 you can still get a SFH in the 300k or so range.

    In the ’90’s we did not suffer a world economic crisis, government wasn’t on a mission to bail out anybody and unemployment wasn’t anywhere near the road we’re on now. And yet CV still had a 20% decline.

    Oh, there will be more to come. Alt-A and option ARMs recasting and resetting, unemployment rising, credit still tight, no more trick loans, no more musical chairs/buying up/flipping, should be interesting.

    January 30, 2009 at 3:18 PM #339265
    jpinpb
    Participant

    I’ve said before, during the ’90’s I saw 20% off the top like that!

    I kept hearing how Carmel Valley is immune and I say it does not have its own sustainable economy, does not live in a protected bubble and will fall just like everyone else.

    In fact, most of Carmel Valley’s McMansions were built during the bubble. Remember that back in 2000 you can still get a SFH in the 300k or so range.

    In the ’90’s we did not suffer a world economic crisis, government wasn’t on a mission to bail out anybody and unemployment wasn’t anywhere near the road we’re on now. And yet CV still had a 20% decline.

    Oh, there will be more to come. Alt-A and option ARMs recasting and resetting, unemployment rising, credit still tight, no more trick loans, no more musical chairs/buying up/flipping, should be interesting.

    January 30, 2009 at 3:18 PM #339360
    jpinpb
    Participant

    I’ve said before, during the ’90’s I saw 20% off the top like that!

    I kept hearing how Carmel Valley is immune and I say it does not have its own sustainable economy, does not live in a protected bubble and will fall just like everyone else.

    In fact, most of Carmel Valley’s McMansions were built during the bubble. Remember that back in 2000 you can still get a SFH in the 300k or so range.

    In the ’90’s we did not suffer a world economic crisis, government wasn’t on a mission to bail out anybody and unemployment wasn’t anywhere near the road we’re on now. And yet CV still had a 20% decline.

    Oh, there will be more to come. Alt-A and option ARMs recasting and resetting, unemployment rising, credit still tight, no more trick loans, no more musical chairs/buying up/flipping, should be interesting.

    January 30, 2009 at 3:18 PM #339386
    jpinpb
    Participant

    I’ve said before, during the ’90’s I saw 20% off the top like that!

    I kept hearing how Carmel Valley is immune and I say it does not have its own sustainable economy, does not live in a protected bubble and will fall just like everyone else.

    In fact, most of Carmel Valley’s McMansions were built during the bubble. Remember that back in 2000 you can still get a SFH in the 300k or so range.

    In the ’90’s we did not suffer a world economic crisis, government wasn’t on a mission to bail out anybody and unemployment wasn’t anywhere near the road we’re on now. And yet CV still had a 20% decline.

    Oh, there will be more to come. Alt-A and option ARMs recasting and resetting, unemployment rising, credit still tight, no more trick loans, no more musical chairs/buying up/flipping, should be interesting.

  • Author
    Posts
Viewing 15 posts - 1 through 15 (of 106 total)
1 2 3 … 6 7 8
  • You must be logged in to reply to this topic.