Coronado

[Casca]

SDR is exactly right. I’ve lived here for the past decade, and witnessed the bottom to top rise. There has been a lot of condo construction, “Billy Boxes”, named after a local builder famous for stuffing a three unit on one lot. At the peak, these individual units were going for over a mil. I don’t have any numbers, but my perception is that a lot of the newer units are empty. There are a lot of properties for sale in the village. By the time you get here, the denial stage should be over.

[Akula1992]

SDRealtor,

Thanks for the feedback. I am primarily looking for a place in the village itself. I had a good friend that lived in the Cays but eventually chose to move his family to the village. He and I had many discussions about the market and I used a lot of the information gained here in our talks. I would like to think that our discussions were a prime driver in his decision to move to the village but to rent vice buying.(He was thinking about buying the place in the Cays) He found many of my(or actually Rich’s) arguments very persuasive. I had a couple other friends that I did not discuss this topic with. A couple of them bought houses in the village and they were, frankly, miserable being caught under an oppressive mortgage in a tiny house.

I am of similar mind that the Coronado market will probably one of the last to capitulate. The main uncertainty that I have is not knowing or even having a decent grasp of how many of the houses bought there during the run-up were speculation driven. I assume, perhaps wrongly, that the number is lower than in surrounding areas. If that assumption is correct there might not be as much pressure on pricing. Couple that with most of the homes being in the top tier for valuation I expect that the market there will reach nadir in the last groups.

Casca, thanks for your comments as well. Personally, I hated the two houses built on the single lot. I thought it was a shame to tear down a traditional cottage or early Craftsman style house and put a couple modern boxes in its place. But, whatever the market will bear, or word to that effect.

Any and all advice is appreciated. BTW Casca, did you used to post over at NeptunusLex’s place. The name is familiar.

Regards,
-David

[Akula1992]

SDRealtor,

Thanks for the feedback. I am primarily looking for a place in the village itself. I had a good friend that lived in the Cays but eventually chose to move his family to the village. He and I had many discussions about the market and I used a lot of the information gained here in our talks. I would like to think that our discussions were a prime driver in his decision to move to the village but to rent vice buying.(He was thinking about buying the place in the Cays) He found many of my(or actually Rich’s) arguments very persuasive. I had a couple other friends that I did not discuss this topic with. A couple of them bought houses in the village and they were, frankly, miserable being caught under an oppressive mortgage in a tiny house.

I am of similar mind that the Coronado market will probably one of the last to capitulate. The main uncertainty that I have is not knowing or even having a decent grasp of how many of the houses bought there during the run-up were speculation driven. I assume, perhaps wrongly, that the number is lower than in surrounding areas. If that assumption is correct there might not be as much pressure on pricing. Couple that with most of the homes being in the top tier for valuation I expect that the market there will reach nadir in the last groups.

Casca, thanks for your comments as well. Personally, I hated the two houses built on the single lot. I thought it was a shame to tear down a traditional cottage or early Craftsman style house and put a couple modern boxes in its place. But, whatever the market will bear, or word to that effect.

Any and all advice is appreciated. BTW Casca, did you used to post over at NeptunusLex’s place. The name is familiar.

Regards,
-David

[Akula1992]

SDRealtor,

Thanks for the feedback. I am primarily looking for a place in the village itself. I had a good friend that lived in the Cays but eventually chose to move his family to the village. He and I had many discussions about the market and I used a lot of the information gained here in our talks. I would like to think that our discussions were a prime driver in his decision to move to the village but to rent vice buying.(He was thinking about buying the place in the Cays) He found many of my(or actually Rich’s) arguments very persuasive. I had a couple other friends that I did not discuss this topic with. A couple of them bought houses in the village and they were, frankly, miserable being caught under an oppressive mortgage in a tiny house.

I am of similar mind that the Coronado market will probably one of the last to capitulate. The main uncertainty that I have is not knowing or even having a decent grasp of how many of the houses bought there during the run-up were speculation driven. I assume, perhaps wrongly, that the number is lower than in surrounding areas. If that assumption is correct there might not be as much pressure on pricing. Couple that with most of the homes being in the top tier for valuation I expect that the market there will reach nadir in the last groups.

Casca, thanks for your comments as well. Personally, I hated the two houses built on the single lot. I thought it was a shame to tear down a traditional cottage or early Craftsman style house and put a couple modern boxes in its place. But, whatever the market will bear, or word to that effect.

Any and all advice is appreciated. BTW Casca, did you used to post over at NeptunusLex’s place. The name is familiar.

Regards,
-David

[Akula1992]

SDRealtor,

Thanks for the feedback. I am primarily looking for a place in the village itself. I had a good friend that lived in the Cays but eventually chose to move his family to the village. He and I had many discussions about the market and I used a lot of the information gained here in our talks. I would like to think that our discussions were a prime driver in his decision to move to the village but to rent vice buying.(He was thinking about buying the place in the Cays) He found many of my(or actually Rich’s) arguments very persuasive. I had a couple other friends that I did not discuss this topic with. A couple of them bought houses in the village and they were, frankly, miserable being caught under an oppressive mortgage in a tiny house.

I am of similar mind that the Coronado market will probably one of the last to capitulate. The main uncertainty that I have is not knowing or even having a decent grasp of how many of the houses bought there during the run-up were speculation driven. I assume, perhaps wrongly, that the number is lower than in surrounding areas. If that assumption is correct there might not be as much pressure on pricing. Couple that with most of the homes being in the top tier for valuation I expect that the market there will reach nadir in the last groups.

Casca, thanks for your comments as well. Personally, I hated the two houses built on the single lot. I thought it was a shame to tear down a traditional cottage or early Craftsman style house and put a couple modern boxes in its place. But, whatever the market will bear, or word to that effect.

Any and all advice is appreciated. BTW Casca, did you used to post over at NeptunusLex’s place. The name is familiar.

Regards,
-David

[Akula1992]

SDRealtor,

Thanks for the feedback. I am primarily looking for a place in the village itself. I had a good friend that lived in the Cays but eventually chose to move his family to the village. He and I had many discussions about the market and I used a lot of the information gained here in our talks. I would like to think that our discussions were a prime driver in his decision to move to the village but to rent vice buying.(He was thinking about buying the place in the Cays) He found many of my(or actually Rich’s) arguments very persuasive. I had a couple other friends that I did not discuss this topic with. A couple of them bought houses in the village and they were, frankly, miserable being caught under an oppressive mortgage in a tiny house.

I am of similar mind that the Coronado market will probably one of the last to capitulate. The main uncertainty that I have is not knowing or even having a decent grasp of how many of the houses bought there during the run-up were speculation driven. I assume, perhaps wrongly, that the number is lower than in surrounding areas. If that assumption is correct there might not be as much pressure on pricing. Couple that with most of the homes being in the top tier for valuation I expect that the market there will reach nadir in the last groups.

Casca, thanks for your comments as well. Personally, I hated the two houses built on the single lot. I thought it was a shame to tear down a traditional cottage or early Craftsman style house and put a couple modern boxes in its place. But, whatever the market will bear, or word to that effect.

Any and all advice is appreciated. BTW Casca, did you used to post over at NeptunusLex’s place. The name is familiar.

Regards,
-David

[gandalf]

Coronado resident. excellent neighborhood, overpriced and generally speaking, sellers will sit it out. Listings will increase though, along with must-sell inventory. All in the course of death and divorce, as they say. Conditions will eventually take their toll, as no neighborhood can escape the asset deflation currently underway. Something to consider, the depth and duration of this business cycle remains to be seen. And while sellers have a bit more flexibility here, the lending picture is challenging, with fewer move up buyers.

Unless you have a boat, I believe the Village has more to offer, better lifestyle for most people. We have friends who really enjoy living in the Cays, though. Have you considered renting for a couple of more years?

[gandalf]

Coronado resident. excellent neighborhood, overpriced and generally speaking, sellers will sit it out. Listings will increase though, along with must-sell inventory. All in the course of death and divorce, as they say. Conditions will eventually take their toll, as no neighborhood can escape the asset deflation currently underway. Something to consider, the depth and duration of this business cycle remains to be seen. And while sellers have a bit more flexibility here, the lending picture is challenging, with fewer move up buyers.

Unless you have a boat, I believe the Village has more to offer, better lifestyle for most people. We have friends who really enjoy living in the Cays, though. Have you considered renting for a couple of more years?

[gandalf]

Coronado resident. excellent neighborhood, overpriced and generally speaking, sellers will sit it out. Listings will increase though, along with must-sell inventory. All in the course of death and divorce, as they say. Conditions will eventually take their toll, as no neighborhood can escape the asset deflation currently underway. Something to consider, the depth and duration of this business cycle remains to be seen. And while sellers have a bit more flexibility here, the lending picture is challenging, with fewer move up buyers.

Unless you have a boat, I believe the Village has more to offer, better lifestyle for most people. We have friends who really enjoy living in the Cays, though. Have you considered renting for a couple of more years?

[gandalf]

Coronado resident. excellent neighborhood, overpriced and generally speaking, sellers will sit it out. Listings will increase though, along with must-sell inventory. All in the course of death and divorce, as they say. Conditions will eventually take their toll, as no neighborhood can escape the asset deflation currently underway. Something to consider, the depth and duration of this business cycle remains to be seen. And while sellers have a bit more flexibility here, the lending picture is challenging, with fewer move up buyers.

Unless you have a boat, I believe the Village has more to offer, better lifestyle for most people. We have friends who really enjoy living in the Cays, though. Have you considered renting for a couple of more years?

[gandalf]

Coronado resident. excellent neighborhood, overpriced and generally speaking, sellers will sit it out. Listings will increase though, along with must-sell inventory. All in the course of death and divorce, as they say. Conditions will eventually take their toll, as no neighborhood can escape the asset deflation currently underway. Something to consider, the depth and duration of this business cycle remains to be seen. And while sellers have a bit more flexibility here, the lending picture is challenging, with fewer move up buyers.

Unless you have a boat, I believe the Village has more to offer, better lifestyle for most people. We have friends who really enjoy living in the Cays, though. Have you considered renting for a couple of more years?

[SD Realtor]

Sounds like we are all pretty much in agreement about Coronado. As I said, or I think I said, I did recently push through a pretty thorough comp search for someone who lives there and prices have indeed come down. Still even with that decrease pricing is still crazy and like each poster here has mentioned “most” residents of the island can hang on and sit it out… Lots of foolish pride as well ya know? Still I do think in the end, while the percentage decline of pricing from the high point will be non trivial.

David, while you may not have a grasp of how many purchases were made that were speculation driven, I don’t think that matters. The big unknown that we will all face in the 2010 timeframe will be how much into the A paper loan resets have we eaten into. The thing I have been struggling with lately is will we be able to chew through the big second wave that is not discussed to much, (with the exception of this site) of course.

At any rate, keep a keen eye on the volume and rate of sales on the island and you should be able to identify when it at least flattens out or alot of the risk is wrung out of the market there.

[SD Realtor]

Sounds like we are all pretty much in agreement about Coronado. As I said, or I think I said, I did recently push through a pretty thorough comp search for someone who lives there and prices have indeed come down. Still even with that decrease pricing is still crazy and like each poster here has mentioned “most” residents of the island can hang on and sit it out… Lots of foolish pride as well ya know? Still I do think in the end, while the percentage decline of pricing from the high point will be non trivial.

David, while you may not have a grasp of how many purchases were made that were speculation driven, I don’t think that matters. The big unknown that we will all face in the 2010 timeframe will be how much into the A paper loan resets have we eaten into. The thing I have been struggling with lately is will we be able to chew through the big second wave that is not discussed to much, (with the exception of this site) of course.

At any rate, keep a keen eye on the volume and rate of sales on the island and you should be able to identify when it at least flattens out or alot of the risk is wrung out of the market there.

[SD Realtor]

Sounds like we are all pretty much in agreement about Coronado. As I said, or I think I said, I did recently push through a pretty thorough comp search for someone who lives there and prices have indeed come down. Still even with that decrease pricing is still crazy and like each poster here has mentioned “most” residents of the island can hang on and sit it out… Lots of foolish pride as well ya know? Still I do think in the end, while the percentage decline of pricing from the high point will be non trivial.

David, while you may not have a grasp of how many purchases were made that were speculation driven, I don’t think that matters. The big unknown that we will all face in the 2010 timeframe will be how much into the A paper loan resets have we eaten into. The thing I have been struggling with lately is will we be able to chew through the big second wave that is not discussed to much, (with the exception of this site) of course.

At any rate, keep a keen eye on the volume and rate of sales on the island and you should be able to identify when it at least flattens out or alot of the risk is wrung out of the market there.

[SD Realtor]

Sounds like we are all pretty much in agreement about Coronado. As I said, or I think I said, I did recently push through a pretty thorough comp search for someone who lives there and prices have indeed come down. Still even with that decrease pricing is still crazy and like each poster here has mentioned “most” residents of the island can hang on and sit it out… Lots of foolish pride as well ya know? Still I do think in the end, while the percentage decline of pricing from the high point will be non trivial.

David, while you may not have a grasp of how many purchases were made that were speculation driven, I don’t think that matters. The big unknown that we will all face in the 2010 timeframe will be how much into the A paper loan resets have we eaten into. The thing I have been struggling with lately is will we be able to chew through the big second wave that is not discussed to much, (with the exception of this site) of course.

At any rate, keep a keen eye on the volume and rate of sales on the island and you should be able to identify when it at least flattens out or alot of the risk is wrung out of the market there.

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