I will agree that prices west of the 5 will not drop off a cliff, but I am having a hard time understanding why a home that is 900k in S.Carlsbad can’t easily drop to, say, 600k.
I just performed 2 land appraisals in So. Carlsbad and Encinitas this week, and I had no problems coming up with vacant site sales data for either of them. Both appraisals involved land sales west of I-5, and the Carlsbad property was located but 2 blocks east of Coast Highway.
There aren’t a lot of vacant sites west of I-5 but if someone wants to pay the extra $150k they can find one. And besides the vacant sites there are a ton of underdeveloped sites with old scrapers on them that are ripe for redevelopment should someone need a lot that badly.
I predict there will always be some new homes for sale in the coastal region at any given time.
I just performed 2 land appraisals in So. Carlsbad and Encinitas this week, and I had no problems coming up with vacant site sales data for either of them. Both appraisals involved land sales west of I-5, and the Carlsbad property was located but 2 blocks east of Coast Highway.
There aren’t a lot of vacant sites west of I-5 but if someone wants to pay the extra $150k they can find one. And besides the vacant sites there are a ton of underdeveloped sites with old scrapers on them that are ripe for redevelopment should someone need a lot that badly.
I predict there will always be some new homes for sale in the coastal region at any given time.
I just performed 2 land appraisals in So. Carlsbad and Encinitas this week, and I had no problems coming up with vacant site sales data for either of them. Both appraisals involved land sales west of I-5, and the Carlsbad property was located but 2 blocks east of Coast Highway.
There aren’t a lot of vacant sites west of I-5 but if someone wants to pay the extra $150k they can find one. And besides the vacant sites there are a ton of underdeveloped sites with old scrapers on them that are ripe for redevelopment should someone need a lot that badly.
I predict there will always be some new homes for sale in the coastal region at any given time.
rule of thumb:
If the neighborhood in your complex is starting to have many many FOR SALE signs in comparison to La Jolla, Beverly Hills area these days, then you can safely assume the complex has many speculators or highly leveraged homeowners who are itching to get rid off the property since the JUMBO LOANS new higher rate and ARMageddon RESETS starting this October until next September.
rule of thumb:
If the neighborhood in your complex is starting to have many many FOR SALE signs in comparison to La Jolla, Beverly Hills area these days, then you can safely assume the complex has many speculators or highly leveraged homeowners who are itching to get rid off the property since the JUMBO LOANS new higher rate and ARMageddon RESETS starting this October until next September.
rule of thumb:
If the neighborhood in your complex is starting to have many many FOR SALE signs in comparison to La Jolla, Beverly Hills area these days, then you can safely assume the complex has many speculators or highly leveraged homeowners who are itching to get rid off the property since the JUMBO LOANS new higher rate and ARMageddon RESETS starting this October until next September.
