What can I expect to pay per square foot for a LaJolla single family detached dwelling when prices finally hit bottom? Can you also tell me when that will be?
eccen in esc
the truth is, michigoose, is that no one really knows the answer to your question. You could ask 20 different people and get 20 different answers. Some people even think this is just a little slump and prices will actually go up again.
Piggingtonians are savvy but they are not Nostradamus. Except for Nostradamus…are you there, Nostradamus?
La Jolla is a coastal market, too many variables (distance to water, view of water, audible range of water). In a more level market that is inland we still can’t give you a price guess per sq ft. because 1200 sq ft homes and 3000 sq ft homes on the same sized lot won’t have the same ppsqft, one story vs two story also are different.
That is why we prognosticators use terms like % off from peak or predict prices in terms of what year (ie. 2003 prices).
Here’s my vague answer to your vague question, you will pay LESS per square foot.
In line with what temeculaguy said… my analogy is the buffalo – jets game… You know they both suck… you know someone will score sometime…we just are not positive when and how much it will be… so we have to watch the whole cruddy game or most of it until we know the outcome…
2500 sq/ft home in La Jolla for $875,000 in 2010???? I’ll be kicking and scratching to be the first in line for that home.
Probably because you’ll be a two years too late.
Here’s a 2400 sf SFR at $410/sf. it’s been the market for 149 days. At a mere $995K. La Jolla SFR #1 Hmm, at 149 days, I wonder if they’re getting flexible. It only has 15% to go to $350/sf.
Here’s another active listing at 408/sf at 2900sf. It only needs a 10% drop. Oh, and look, it’s already on the market for 59 days…
Here’s another nice looking place. It’s already below $400/sf but it’s a bit bigger at 3300 sf. Although, at 103 days on the market, I wonder if an ARM reset earlier this year from that March 2005 purchase is hurting. la jolla SFR #3
Personally, I prefer #3. Anybody know if a NOD has been served?
Don’t know if a NOD has been served. Also SFR 1 is on MT Soledad and SFR 2 and 3 are Ridgegate which is that development that sits at the 5/52 intersection.
SD, love the Jets-Bills analogy. I’d come up with a Norv Turner anlogy but I have to go vomit again. I don’t know where Norv moved when he took the job but if he moved to La Jolla, expect real estate values to go 4-12 within a five mile range of his house.
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