La Jolla Foreclosure Map

[4plexowner]

Check out this link if you think that the ‘best’ areas in San Diego aren’t going to be affected by this downturn

Entry level view properties will be under $1 mil in Pt Loma, La Jolla, Mission Hills, etc before the bottom is in (2012 or so)

http://bigpicture.typepad.com/comments/files/la_jolla_foreclosures.png

[PerryChase]

Not surprising. I expected that.

Remember we’re still at the BEGINNING of the downturn (at least as far as the press and the general public are concerned). Like they say “the snow ball is only 20% down the hill.”

[PerryChase]

Not surprising. I expected that.

Remember we’re still at the BEGINNING of the downturn (at least as far as the press and the general public are concerned). Like they say “the snow ball is only 20% down the hill.”

[PerryChase]

Not surprising. I expected that.

Remember we’re still at the BEGINNING of the downturn (at least as far as the press and the general public are concerned). Like they say “the snow ball is only 20% down the hill.”

[SD Realtor]

This is a good map. I am still contending that desireable areas with good school districts and a substantial poipulation of homeowners with high equity stakes will not be hit as hard as other areas. I am not sure that I ever read that any posters said that any areas were immune to drops at all.

Also looking at the map, I see a high concentration of properties in UTC. I also see another small concentration at Sea Haus. I would be more then happy to analyze the locations and housing types of the other marks on the map if you like.

I am not saying homes are not going to foreclose in La Jolla, please do not get me wrong. There will be more, and it will go down. Also I heading to Mission Hills, one of the areas you mentioned in about an hour to explain to a frustrated homeowner why her little 2/1 cottage will not sell for 800 a sq ft.

I am just trying to provide a more introspective analysis of the data you provided.

SD Realtor

[SD Realtor]

This is a good map. I am still contending that desireable areas with good school districts and a substantial poipulation of homeowners with high equity stakes will not be hit as hard as other areas. I am not sure that I ever read that any posters said that any areas were immune to drops at all.

Also looking at the map, I see a high concentration of properties in UTC. I also see another small concentration at Sea Haus. I would be more then happy to analyze the locations and housing types of the other marks on the map if you like.

I am not saying homes are not going to foreclose in La Jolla, please do not get me wrong. There will be more, and it will go down. Also I heading to Mission Hills, one of the areas you mentioned in about an hour to explain to a frustrated homeowner why her little 2/1 cottage will not sell for 800 a sq ft.

I am just trying to provide a more introspective analysis of the data you provided.

SD Realtor

[SD Realtor]

This is a good map. I am still contending that desireable areas with good school districts and a substantial poipulation of homeowners with high equity stakes will not be hit as hard as other areas. I am not sure that I ever read that any posters said that any areas were immune to drops at all.

Also looking at the map, I see a high concentration of properties in UTC. I also see another small concentration at Sea Haus. I would be more then happy to analyze the locations and housing types of the other marks on the map if you like.

I am not saying homes are not going to foreclose in La Jolla, please do not get me wrong. There will be more, and it will go down. Also I heading to Mission Hills, one of the areas you mentioned in about an hour to explain to a frustrated homeowner why her little 2/1 cottage will not sell for 800 a sq ft.

I am just trying to provide a more introspective analysis of the data you provided.

SD Realtor

[PerryChase]

SD Realtor, you provide great insight into what the market is today.

As the professor wrote in a previous article, homeowners gambled on price appreciation. They did not buy homes they can afford, but they gambled on holding for a short period of time to use the equity to climb up the property ladder. Now that the loans are resetting and values are dropping, the homeowners are out of wherewithal. It’s happening at all levels of income.

You can be sure that people are turning in at lot more luxury car leases than toyota leases. My brother just bought a 911 from a seller in the Bay Area who had to sell immediately. He even delivered the car to San Diego. There’s plenty of money floating around in the Bay Area but not enough for the seller to sell right now, even at a greatly discounted price.

I watch the housing market and my brother watches the automobile market. The two are tied at the hip. The luxury car goes first, then it’s the luxury home — even in La Jolla. If someone sells a luxury vehicle, but does not get a replacement car, you can be pretty sure that his house is for sale.

[PerryChase]

SD Realtor, you provide great insight into what the market is today.

As the professor wrote in a previous article, homeowners gambled on price appreciation. They did not buy homes they can afford, but they gambled on holding for a short period of time to use the equity to climb up the property ladder. Now that the loans are resetting and values are dropping, the homeowners are out of wherewithal. It’s happening at all levels of income.

You can be sure that people are turning in at lot more luxury car leases than toyota leases. My brother just bought a 911 from a seller in the Bay Area who had to sell immediately. He even delivered the car to San Diego. There’s plenty of money floating around in the Bay Area but not enough for the seller to sell right now, even at a greatly discounted price.

I watch the housing market and my brother watches the automobile market. The two are tied at the hip. The luxury car goes first, then it’s the luxury home — even in La Jolla. If someone sells a luxury vehicle, but does not get a replacement car, you can be pretty sure that his house is for sale.

[PerryChase]

SD Realtor, you provide great insight into what the market is today.

As the professor wrote in a previous article, homeowners gambled on price appreciation. They did not buy homes they can afford, but they gambled on holding for a short period of time to use the equity to climb up the property ladder. Now that the loans are resetting and values are dropping, the homeowners are out of wherewithal. It’s happening at all levels of income.

You can be sure that people are turning in at lot more luxury car leases than toyota leases. My brother just bought a 911 from a seller in the Bay Area who had to sell immediately. He even delivered the car to San Diego. There’s plenty of money floating around in the Bay Area but not enough for the seller to sell right now, even at a greatly discounted price.

I watch the housing market and my brother watches the automobile market. The two are tied at the hip. The luxury car goes first, then it’s the luxury home — even in La Jolla. If someone sells a luxury vehicle, but does not get a replacement car, you can be pretty sure that his house is for sale.

[SD Realtor]

Thanks PC –

Again to make my stance clear, I do indeed feel everywhere will drop… Your example is crystal clear to me and I agree…

As you know I am no stranger to eating humble pie and will be the first one to say I am wrong if I miss the call on this. (and the way things are looking, this may be!)

I just think that the variance in the depreciation will be there for reasons I have stuck with and written before. You are a tough debate because you stick with rationale and are never emotional on topics. Also I do not lump places like 4S or even CV into the places that will not take some of the hardest hits. I think those will indeed get fairly pounded towards the backend of the cycle.

SD Realtor

[SD Realtor]

Thanks PC –

Again to make my stance clear, I do indeed feel everywhere will drop… Your example is crystal clear to me and I agree…

As you know I am no stranger to eating humble pie and will be the first one to say I am wrong if I miss the call on this. (and the way things are looking, this may be!)

I just think that the variance in the depreciation will be there for reasons I have stuck with and written before. You are a tough debate because you stick with rationale and are never emotional on topics. Also I do not lump places like 4S or even CV into the places that will not take some of the hardest hits. I think those will indeed get fairly pounded towards the backend of the cycle.

SD Realtor

[SD Realtor]

Thanks PC –

Again to make my stance clear, I do indeed feel everywhere will drop… Your example is crystal clear to me and I agree…

As you know I am no stranger to eating humble pie and will be the first one to say I am wrong if I miss the call on this. (and the way things are looking, this may be!)

I just think that the variance in the depreciation will be there for reasons I have stuck with and written before. You are a tough debate because you stick with rationale and are never emotional on topics. Also I do not lump places like 4S or even CV into the places that will not take some of the hardest hits. I think those will indeed get fairly pounded towards the backend of the cycle.

SD Realtor

[waterboy]

The best deal I’ve seen in a while from a La Jolla foreclosure was a 3 bed/2.5 bath just about 2200sq ft in the gated community of Ventana that went for $637k at auction a few months back as homes have still been selling in the low to mid $900s there.

[waterboy]

The best deal I’ve seen in a while from a La Jolla foreclosure was a 3 bed/2.5 bath just about 2200sq ft in the gated community of Ventana that went for $637k at auction a few months back as homes have still been selling in the low to mid $900s there.

[Author]

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