Home › Forums › Housing › Looks like some of the Carmel Valley Condo Crackheads are starting to sober (slightly)
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May 18, 2008 at 12:47 AM #206883May 18, 2008 at 7:26 AM #206773BugsParticipant
It’s close to employment, it’s new and most of the homes are in the upper price ranges and were not financed with subprime. A larger percentage of those buyers actually have jobs that can pay those prices, so that will cut down some on the foreclosures. Also CV has been more biased to the Alt-A programs rather than subprime; and those Alt-A loans have been running on a different clock.
CV’s turn will come and when it does it will have some significant losses, although probably not as bad as some of the outlying areas. Still, if an $800k house in 4S eventually settles at $500k, the $950k house in CV isn’t going to stick at $800k.
Every market segment competes with its alternatives. It’s all connected.
May 18, 2008 at 7:26 AM #206829BugsParticipantIt’s close to employment, it’s new and most of the homes are in the upper price ranges and were not financed with subprime. A larger percentage of those buyers actually have jobs that can pay those prices, so that will cut down some on the foreclosures. Also CV has been more biased to the Alt-A programs rather than subprime; and those Alt-A loans have been running on a different clock.
CV’s turn will come and when it does it will have some significant losses, although probably not as bad as some of the outlying areas. Still, if an $800k house in 4S eventually settles at $500k, the $950k house in CV isn’t going to stick at $800k.
Every market segment competes with its alternatives. It’s all connected.
May 18, 2008 at 7:26 AM #206858BugsParticipantIt’s close to employment, it’s new and most of the homes are in the upper price ranges and were not financed with subprime. A larger percentage of those buyers actually have jobs that can pay those prices, so that will cut down some on the foreclosures. Also CV has been more biased to the Alt-A programs rather than subprime; and those Alt-A loans have been running on a different clock.
CV’s turn will come and when it does it will have some significant losses, although probably not as bad as some of the outlying areas. Still, if an $800k house in 4S eventually settles at $500k, the $950k house in CV isn’t going to stick at $800k.
Every market segment competes with its alternatives. It’s all connected.
May 18, 2008 at 7:26 AM #206884BugsParticipantIt’s close to employment, it’s new and most of the homes are in the upper price ranges and were not financed with subprime. A larger percentage of those buyers actually have jobs that can pay those prices, so that will cut down some on the foreclosures. Also CV has been more biased to the Alt-A programs rather than subprime; and those Alt-A loans have been running on a different clock.
CV’s turn will come and when it does it will have some significant losses, although probably not as bad as some of the outlying areas. Still, if an $800k house in 4S eventually settles at $500k, the $950k house in CV isn’t going to stick at $800k.
Every market segment competes with its alternatives. It’s all connected.
May 18, 2008 at 7:26 AM #206914BugsParticipantIt’s close to employment, it’s new and most of the homes are in the upper price ranges and were not financed with subprime. A larger percentage of those buyers actually have jobs that can pay those prices, so that will cut down some on the foreclosures. Also CV has been more biased to the Alt-A programs rather than subprime; and those Alt-A loans have been running on a different clock.
CV’s turn will come and when it does it will have some significant losses, although probably not as bad as some of the outlying areas. Still, if an $800k house in 4S eventually settles at $500k, the $950k house in CV isn’t going to stick at $800k.
Every market segment competes with its alternatives. It’s all connected.
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