Housing prices in free fall along Mount Soledad Road in La Jolla

[stockstradr]

“Housing prices in free fall along Mount Soledad Road in La Jolla”

http://weblog.signonsandiego.com/news/breaking/2007/10/two_dozen_homes_imperiled.html

Or is it the homes themselves that are in free fall?
🙂

Now is your chance to buy a La Jolla home at low cost! Buy now before these homes “disappear” from the market (and from the face of the earth)!

[bsrsharma]

Do they have insurance against landslides? Whenever I saw these homes in La Jolla, Encinitas, San Clemente I wondered if anyone would buy these without insurance.

[bobby]

trader, that’s just mean to make a comment like that.

[LostCat]

Trader, do you hate the world or just the housing market?

[Alex_angel]

Trader, you are the pure essence of what I don’t like about this board sometimes. Way too many people laughing and gloating at the loss of others. I want the market to come down in price but not at the cost of some families getting screwed out of a home.

[VoZangre]

The word which applies…

is schadenfreude.

tsk tsk tsk

[XBoxBoy]

So besides the obvious that the houses directly effected by this will have a serious loss of property values. How will this effect La Jolla in general? What does the wisdom of this board say about this?

It will probably cause all houses in La Jolla to lose some value, if by nothing more than association. But by about how much? Are we talking a couple of percent? Ten percent? Twenty? More? I know no one can give a definitive answer to this, but what are the gut guesses by the folks on piggington to this?

Inquiring minds want to know.

XBoxBoy

[Kilohana]

http://www.sdlookup.com/MLS-076049056-5715_Soledad_Mountain_Rd_La_Jolla_CA_92037

Is this house the one directly in front of the affected area??

[CMcG]

I don’t know about this particular set of houses, but a friend’s house started sliding down the canyon in another part of La Jolla a couple of years ago and insurance didn’t cover it — or at least not much of it, if I recall correctly. Considered an “act of God.”

[patientlywaiting]

Normally, insurance does not cover anything that is incremental and happens over time.

[FoamFinger1]

And I make the comment yesterday about a picture showing a giant crack in a patio slab on a hillside home, then read this today…holy cow!

On the “will this affect La Jolla pricing…” IMO, No.

The next time you are driving I-5 at the 52 fwy, look up at the signs of early slides. An entire gated community built right there. Some houses have no fence or property line remaining.

[farbet]

Knowing what you know now would you buy there?
One owner just bought 1 year ago and was lamenting about not being informed that there was a slide problem.
So wanabee La Jollans help them out buy there.

[Wickedheart]

I don’t wish them ill but I don’t have a lot of sympathy either. I don’t sympathize with people who build or buy homes on bluffs, unstable ground or any other stupid spot. I am very happy that no one was hurt though.

http://tinyurl.com/yrkukv

Sigh, I used to laugh myself silly at the fools who built in Mission Valley. Every freakin’ winter they would cry and cry because it rained and flooded their businesses. These @sshats built their businesses in a riverbed, a RIVERBED of all places! They had no business boo-hooing when nature took it’s course, but no, they kept building and cryin’ about it. So eventually the city rewarded their stupidity and built a flood control project. I guess they laugh at me now.

[bsrsharma]

lamenting about not being informed

I saw La Jolla/Encinitas/San Clemente (the hillsides with homes) for the first time in 1990 and my reaction was – wow, what a place to build homes (and the next one: how did they do it i.e. prevent it from sliding down). The owner is lamenting on not being informed of gravity?

[bsrsharma]

@sshats built their businesses in a riverbed

You mean the French who built New Orleans?

[Author]

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