4900 sq ft REO In La Costa for mid $800’s

[Eugene]

[quote=4plexowner]thanks, esmith

the next question would be, “how many $800K houses are there in San Diego?”[/quote]

I can crudely estimate that there are 50-70K:

– 8K in Carmel Valley
– 8K in Carlsbad
– 6K in La Jolla
– 5K in Encinitas/Olivenhain/Cardiff
– 4K in Rancho Santa Fe
– 4K in Del Mar/Solana Beach
– 3K in Poway
– 3K in Coronado
– 20K elsewhere

[SD Realtor]

Actually I know this home well. This home is in Balearas. If you look at the actives in Balearas there is still ALOT of delusion in there. HOWEVER I have been told by some people who live in that subdivision that they were able to get a pretty substantial loan modification from thier lender… So go figure, if lenders are going to rework 900k loans then that is… well it is a drag. Also the homes

[SD Realtor]

Actually I know this home well. This home is in Balearas. If you look at the actives in Balearas there is still ALOT of delusion in there. HOWEVER I have been told by some people who live in that subdivision that they were able to get a pretty substantial loan modification from thier lender… So go figure, if lenders are going to rework 900k loans then that is… well it is a drag. Also the homes

[SD Realtor]

Actually I know this home well. This home is in Balearas. If you look at the actives in Balearas there is still ALOT of delusion in there. HOWEVER I have been told by some people who live in that subdivision that they were able to get a pretty substantial loan modification from thier lender… So go figure, if lenders are going to rework 900k loans then that is… well it is a drag. Also the homes

[SD Realtor]

Actually I know this home well. This home is in Balearas. If you look at the actives in Balearas there is still ALOT of delusion in there. HOWEVER I have been told by some people who live in that subdivision that they were able to get a pretty substantial loan modification from thier lender… So go figure, if lenders are going to rework 900k loans then that is… well it is a drag. Also the homes

[SD Realtor]

Actually I know this home well. This home is in Balearas. If you look at the actives in Balearas there is still ALOT of delusion in there. HOWEVER I have been told by some people who live in that subdivision that they were able to get a pretty substantial loan modification from thier lender… So go figure, if lenders are going to rework 900k loans then that is… well it is a drag. Also the homes

[4plexowner]

thanks again, esmith

so 100K potential buyers for 50-70K $800K+ houses

seems like a reasonable ratio – might even say that there was enough potential demand to support prices in the $800K+ market – so far, that has been the case although prices in that bracket appear to be softening lately

[esmith: I sniped at you recently and I apologize for that – I take great exception to all the Keynesian, free-lunch-for-everybody, all-we-have-to-do-is-print-more-money type thinking that seems to be prevalent these days – many of your economy-related posts strike me as falling into that camp but it was inappropriate for me to single you out since TPTB want us all to think exactly that way and you are by no means the only person on this board who posts that kind of stuff]

[4plexowner]

thanks again, esmith

so 100K potential buyers for 50-70K $800K+ houses

seems like a reasonable ratio – might even say that there was enough potential demand to support prices in the $800K+ market – so far, that has been the case although prices in that bracket appear to be softening lately

[esmith: I sniped at you recently and I apologize for that – I take great exception to all the Keynesian, free-lunch-for-everybody, all-we-have-to-do-is-print-more-money type thinking that seems to be prevalent these days – many of your economy-related posts strike me as falling into that camp but it was inappropriate for me to single you out since TPTB want us all to think exactly that way and you are by no means the only person on this board who posts that kind of stuff]

[4plexowner]

thanks again, esmith

so 100K potential buyers for 50-70K $800K+ houses

seems like a reasonable ratio – might even say that there was enough potential demand to support prices in the $800K+ market – so far, that has been the case although prices in that bracket appear to be softening lately

[esmith: I sniped at you recently and I apologize for that – I take great exception to all the Keynesian, free-lunch-for-everybody, all-we-have-to-do-is-print-more-money type thinking that seems to be prevalent these days – many of your economy-related posts strike me as falling into that camp but it was inappropriate for me to single you out since TPTB want us all to think exactly that way and you are by no means the only person on this board who posts that kind of stuff]

[4plexowner]

thanks again, esmith

so 100K potential buyers for 50-70K $800K+ houses

seems like a reasonable ratio – might even say that there was enough potential demand to support prices in the $800K+ market – so far, that has been the case although prices in that bracket appear to be softening lately

[esmith: I sniped at you recently and I apologize for that – I take great exception to all the Keynesian, free-lunch-for-everybody, all-we-have-to-do-is-print-more-money type thinking that seems to be prevalent these days – many of your economy-related posts strike me as falling into that camp but it was inappropriate for me to single you out since TPTB want us all to think exactly that way and you are by no means the only person on this board who posts that kind of stuff]

[4plexowner]

thanks again, esmith

so 100K potential buyers for 50-70K $800K+ houses

seems like a reasonable ratio – might even say that there was enough potential demand to support prices in the $800K+ market – so far, that has been the case although prices in that bracket appear to be softening lately

[esmith: I sniped at you recently and I apologize for that – I take great exception to all the Keynesian, free-lunch-for-everybody, all-we-have-to-do-is-print-more-money type thinking that seems to be prevalent these days – many of your economy-related posts strike me as falling into that camp but it was inappropriate for me to single you out since TPTB want us all to think exactly that way and you are by no means the only person on this board who posts that kind of stuff]

[poway_seller]

“sdrealtor, that house on Citrine originally sold for 1.331M without landscaping. If it brought 850k that is 36% off peak price. That leaves only 14% more to get to 50% off peak.”

Permeliza, hate to break it to you, but to get to 50% off 1.331, from the current 850k, is another 22%, not simply another 14% from the current 36% decline. (14% more is 45% off the peak)

50% of 1.331 is $665
$850 to $665 is $185
$185 is 22% of $850

If this wasn’t a board full of engineers I would have left that one alone.

[poway_seller]

“sdrealtor, that house on Citrine originally sold for 1.331M without landscaping. If it brought 850k that is 36% off peak price. That leaves only 14% more to get to 50% off peak.”

Permeliza, hate to break it to you, but to get to 50% off 1.331, from the current 850k, is another 22%, not simply another 14% from the current 36% decline. (14% more is 45% off the peak)

50% of 1.331 is $665
$850 to $665 is $185
$185 is 22% of $850

If this wasn’t a board full of engineers I would have left that one alone.

[poway_seller]

“sdrealtor, that house on Citrine originally sold for 1.331M without landscaping. If it brought 850k that is 36% off peak price. That leaves only 14% more to get to 50% off peak.”

Permeliza, hate to break it to you, but to get to 50% off 1.331, from the current 850k, is another 22%, not simply another 14% from the current 36% decline. (14% more is 45% off the peak)

50% of 1.331 is $665
$850 to $665 is $185
$185 is 22% of $850

If this wasn’t a board full of engineers I would have left that one alone.

[poway_seller]

“sdrealtor, that house on Citrine originally sold for 1.331M without landscaping. If it brought 850k that is 36% off peak price. That leaves only 14% more to get to 50% off peak.”

Permeliza, hate to break it to you, but to get to 50% off 1.331, from the current 850k, is another 22%, not simply another 14% from the current 36% decline. (14% more is 45% off the peak)

50% of 1.331 is $665
$850 to $665 is $185
$185 is 22% of $850

If this wasn’t a board full of engineers I would have left that one alone.

[Author]

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