Home › Forums › Housing › 39 out of 88 active listings in Carmel Valley for attached are being sold underwater.
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June 5, 2008 at 11:18 PM #218265June 5, 2008 at 11:33 PM #218092
CoronitaParticipantMarch update 1 of 2 (click on image, then click on the "original" link)
[img_assist|nid=7814|title=cv_attached_march_1of2|desc=|link=node|align=left|width=466|height=285]
March update 2 of 2 (click on image, then click on the "original" link)
[img_assist|nid=7815|title=cv attached march 2 of 2|desc=|link=node|align=left|width=466|height=239]
New attached inventory (click on image, then click on the "original" link)
[img_assist|nid=7816|title=cv new attached|desc=|link=node|align=left|width=466|height=280]
Some interesting notes.
1. There was one guy that really cleaned house on a transaction. He made over $300k on an attached home.
2. A lot of people that ended up selling actually ended up closing below what was an already underwater price.
3. Some sellers did ok, these were typically folks that owned in 2003 and earlier.
4. Pell place and a lot of the condo convert projects are big mine fields and probably in the process of exploding (or imploding. Whatever… I mean, the shit has hit the fan in some of these newer communities/ condo convert projects).
5. It seems like while the attached inventory is smaller now, you still have a pretty good chunk people who are upside down trying to frantically sell.
6. There were a few properties that are pretty good and went for a pretty good price. It seems like a "good deal" in today's market is a 3/3 townhome with an attached two car garage for about $480k-$490k, which is considerably lower than the $650k+ that was the peak price.
7. It appears even as late as may, you still have plenty of knife catchers that will pay over $500k for a 2/2.
It's my opinion, but I think it's pretty safe to say, we're no where near any bottom in CV for the attached markets. To steal PardreBrian's line, it's really "Holy Holy Cow". Yes, it's bad out there in Carmel Valley attached markets right now.
June 5, 2008 at 11:33 PM #218181CoronitaParticipantMarch update 1 of 2 (click on image, then click on the "original" link)
[img_assist|nid=7814|title=cv_attached_march_1of2|desc=|link=node|align=left|width=466|height=285]
March update 2 of 2 (click on image, then click on the "original" link)
[img_assist|nid=7815|title=cv attached march 2 of 2|desc=|link=node|align=left|width=466|height=239]
New attached inventory (click on image, then click on the "original" link)
[img_assist|nid=7816|title=cv new attached|desc=|link=node|align=left|width=466|height=280]
Some interesting notes.
1. There was one guy that really cleaned house on a transaction. He made over $300k on an attached home.
2. A lot of people that ended up selling actually ended up closing below what was an already underwater price.
3. Some sellers did ok, these were typically folks that owned in 2003 and earlier.
4. Pell place and a lot of the condo convert projects are big mine fields and probably in the process of exploding (or imploding. Whatever… I mean, the shit has hit the fan in some of these newer communities/ condo convert projects).
5. It seems like while the attached inventory is smaller now, you still have a pretty good chunk people who are upside down trying to frantically sell.
6. There were a few properties that are pretty good and went for a pretty good price. It seems like a "good deal" in today's market is a 3/3 townhome with an attached two car garage for about $480k-$490k, which is considerably lower than the $650k+ that was the peak price.
7. It appears even as late as may, you still have plenty of knife catchers that will pay over $500k for a 2/2.
It's my opinion, but I think it's pretty safe to say, we're no where near any bottom in CV for the attached markets. To steal PardreBrian's line, it's really "Holy Holy Cow". Yes, it's bad out there in Carmel Valley attached markets right now.
June 5, 2008 at 11:33 PM #218205CoronitaParticipantMarch update 1 of 2 (click on image, then click on the "original" link)
[img_assist|nid=7814|title=cv_attached_march_1of2|desc=|link=node|align=left|width=466|height=285]
March update 2 of 2 (click on image, then click on the "original" link)
[img_assist|nid=7815|title=cv attached march 2 of 2|desc=|link=node|align=left|width=466|height=239]
New attached inventory (click on image, then click on the "original" link)
[img_assist|nid=7816|title=cv new attached|desc=|link=node|align=left|width=466|height=280]
Some interesting notes.
1. There was one guy that really cleaned house on a transaction. He made over $300k on an attached home.
2. A lot of people that ended up selling actually ended up closing below what was an already underwater price.
3. Some sellers did ok, these were typically folks that owned in 2003 and earlier.
4. Pell place and a lot of the condo convert projects are big mine fields and probably in the process of exploding (or imploding. Whatever… I mean, the shit has hit the fan in some of these newer communities/ condo convert projects).
5. It seems like while the attached inventory is smaller now, you still have a pretty good chunk people who are upside down trying to frantically sell.
6. There were a few properties that are pretty good and went for a pretty good price. It seems like a "good deal" in today's market is a 3/3 townhome with an attached two car garage for about $480k-$490k, which is considerably lower than the $650k+ that was the peak price.
7. It appears even as late as may, you still have plenty of knife catchers that will pay over $500k for a 2/2.
It's my opinion, but I think it's pretty safe to say, we're no where near any bottom in CV for the attached markets. To steal PardreBrian's line, it's really "Holy Holy Cow". Yes, it's bad out there in Carmel Valley attached markets right now.
June 5, 2008 at 11:33 PM #218233CoronitaParticipantMarch update 1 of 2 (click on image, then click on the "original" link)
[img_assist|nid=7814|title=cv_attached_march_1of2|desc=|link=node|align=left|width=466|height=285]
March update 2 of 2 (click on image, then click on the "original" link)
[img_assist|nid=7815|title=cv attached march 2 of 2|desc=|link=node|align=left|width=466|height=239]
New attached inventory (click on image, then click on the "original" link)
[img_assist|nid=7816|title=cv new attached|desc=|link=node|align=left|width=466|height=280]
Some interesting notes.
1. There was one guy that really cleaned house on a transaction. He made over $300k on an attached home.
2. A lot of people that ended up selling actually ended up closing below what was an already underwater price.
3. Some sellers did ok, these were typically folks that owned in 2003 and earlier.
4. Pell place and a lot of the condo convert projects are big mine fields and probably in the process of exploding (or imploding. Whatever… I mean, the shit has hit the fan in some of these newer communities/ condo convert projects).
5. It seems like while the attached inventory is smaller now, you still have a pretty good chunk people who are upside down trying to frantically sell.
6. There were a few properties that are pretty good and went for a pretty good price. It seems like a "good deal" in today's market is a 3/3 townhome with an attached two car garage for about $480k-$490k, which is considerably lower than the $650k+ that was the peak price.
7. It appears even as late as may, you still have plenty of knife catchers that will pay over $500k for a 2/2.
It's my opinion, but I think it's pretty safe to say, we're no where near any bottom in CV for the attached markets. To steal PardreBrian's line, it's really "Holy Holy Cow". Yes, it's bad out there in Carmel Valley attached markets right now.
June 5, 2008 at 11:33 PM #218255CoronitaParticipantMarch update 1 of 2 (click on image, then click on the "original" link)
[img_assist|nid=7814|title=cv_attached_march_1of2|desc=|link=node|align=left|width=466|height=285]
March update 2 of 2 (click on image, then click on the "original" link)
[img_assist|nid=7815|title=cv attached march 2 of 2|desc=|link=node|align=left|width=466|height=239]
New attached inventory (click on image, then click on the "original" link)
[img_assist|nid=7816|title=cv new attached|desc=|link=node|align=left|width=466|height=280]
Some interesting notes.
1. There was one guy that really cleaned house on a transaction. He made over $300k on an attached home.
2. A lot of people that ended up selling actually ended up closing below what was an already underwater price.
3. Some sellers did ok, these were typically folks that owned in 2003 and earlier.
4. Pell place and a lot of the condo convert projects are big mine fields and probably in the process of exploding (or imploding. Whatever… I mean, the shit has hit the fan in some of these newer communities/ condo convert projects).
5. It seems like while the attached inventory is smaller now, you still have a pretty good chunk people who are upside down trying to frantically sell.
6. There were a few properties that are pretty good and went for a pretty good price. It seems like a "good deal" in today's market is a 3/3 townhome with an attached two car garage for about $480k-$490k, which is considerably lower than the $650k+ that was the peak price.
7. It appears even as late as may, you still have plenty of knife catchers that will pay over $500k for a 2/2.
It's my opinion, but I think it's pretty safe to say, we're no where near any bottom in CV for the attached markets. To steal PardreBrian's line, it's really "Holy Holy Cow". Yes, it's bad out there in Carmel Valley attached markets right now.
June 6, 2008 at 9:05 AM #218198CoronitaParticipantGee, I do all the heavy lifting last night with this attached home data, and I don't even get one response. Next time, I'm going to talk about sex, lies, and videotapes instead 🙂 Just kidding.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
June 6, 2008 at 9:05 AM #218286CoronitaParticipantGee, I do all the heavy lifting last night with this attached home data, and I don't even get one response. Next time, I'm going to talk about sex, lies, and videotapes instead 🙂 Just kidding.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
June 6, 2008 at 9:05 AM #218307CoronitaParticipantGee, I do all the heavy lifting last night with this attached home data, and I don't even get one response. Next time, I'm going to talk about sex, lies, and videotapes instead 🙂 Just kidding.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
June 6, 2008 at 9:05 AM #218338CoronitaParticipantGee, I do all the heavy lifting last night with this attached home data, and I don't even get one response. Next time, I'm going to talk about sex, lies, and videotapes instead 🙂 Just kidding.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
June 6, 2008 at 9:05 AM #218359CoronitaParticipantGee, I do all the heavy lifting last night with this attached home data, and I don't even get one response. Next time, I'm going to talk about sex, lies, and videotapes instead 🙂 Just kidding.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
June 6, 2008 at 9:32 AM #218247sdduuuude
ParticipantIt’s alot to digest.
June 6, 2008 at 9:32 AM #218336ParticipantIt’s alot to digest.
June 6, 2008 at 9:32 AM #218357ParticipantIt’s alot to digest.
June 6, 2008 at 9:32 AM #218386ParticipantIt’s alot to digest.
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