No problem selling my home

[sdworker]

I have been a big time housing bear since Spring / Summer 2005. I read Roubini and Schiff and all that commentary and believe that their arguments about the rotten foundation the US economy rests on and the “coming tsunami” in real estate. It all makes perfect, logical, sense. Meanwhile I see strong sales in my development in the Torrey Highlands area off the 56 freeway this summer, with prices actually going UP relative to the previous year. Then I get a full priced offer on my home in three weeks. What gives? Somehow all the fantastically laid out arguments I hear about why housing should be falling off a cliff just does not seem to be bearing out in my immediate neighbourhood……I mean not even close (well OK, prices are down from the peak in 2005…but not that much!!). Any thoughts?

[gold_dredger_phd]

You priced your house correctly for sale.

In your neck of the woods, where commuting is easy, you have plenty of potential buyers. It’s location, location, location, and not price, price, price. Absent a recession, or a mass grave in the back yard, houses in that location will always be in demand.

[kewp]

Lots of people here say ‘a sinking tide lowers all ships’.

I disagree and feel prime properties are going to retain much of their value, possibly even make gains.

Time will tell of course, especially if we have a recession.

[Fearful]

If you really are interested in analysis, it would be helpful to post info about your house rather than just that it sold at full price.

[NotCranky]

Tell the truth. You buried a little upside down statue in the yard, didn’t you?

[Ex-SD]

Congratulations! I don’t think that any neighborhoods (except the ultra-mansions in the $15 million plus range) will be immune from the bursting bubble. IMHO, there will always be some buyers who refuse to believe what is obvious and it looks like you caught one.

Also, the outlying areas always get hit first (and the worst) and then it starts moving towards the better neighborhoods. I read several other housing-bubble blogs and communities like Santa Monica and Pacific Palisades in the west end of L.A. (which are very high priced for what you get) are starting to see larger reductions in their asking prices, rising inventories and more negative press.

Be happy that you sold. Now, you can sit back and watch the festivities.

[waterboy]

sdworker

did you actually close yet?

[Arty]

Send us the address when you actually closed and sold.

[eyePod]

sdworker,
you have provided insufficient data. Please post price and house details.

[lendingbubblecontinues]

I’d imagine it was the “San Diego Chargers might make it to the Super Bowl effect” or it could have simply been one of those ever-elusive “greater fools”.

By chance, was/is the buyer 1st generation American (F.O.B.)?

[bsrsharma]

1st generation American (F.O.B.)?

Funny & beautiful at the same time. FOB considered 1st generation "American". Don’t you have to wait till he/she swears Oath of Allegiance to call him American?

[mydogsarelazy]

There are still places in SoCal where things are selling well.

A relative of mine sold a home last month in Hidden Hills/Calabasas for full price — $2.2mil — in about 15 days.

JS

[mydogsarelazy]

There are still places in SoCal where things are selling well.

A relative of mine sold a home last month in Hidden Hills/Calabasas for full price — $2.2mil — in about 15 days.

JS

[Eugene]

Housing will not magically fall off a cliff all at once, it will be more like a wave that travels inwards from peripheral regions.
Heavily overbuilt exurbs are first to feel the hurt. It’s already very bad in Hemet. Temecula and Murrieta are getting there. When Temecula gets to $100/sq ft, people will start thinking “hmm why should I pay $300/sq ft in Escondido or San Marcos when I can have 2x bigger house for less money in Riverside County?”, Temecula will start stabilizing, Escondido and San Marcos will start experiencing slow sales and falling prices, etc.

[SD Realtor]

Torrey Highlands has held up well… However to say that it has not depreciated at all is a statement I disagree with. It certainly has held up better then many areas but I do recall seeing some falling prices compared to recent years past. I will post some of the sales data later today if I have time.

SD Realtor

[SD Realtor]

Torrey Highlands has held up well… However to say that it has not depreciated at all is a statement I disagree with. It certainly has held up better then many areas but I do recall seeing some falling prices compared to recent years past. I will post some of the sales data later today if I have time.

SD Realtor

[Eugene]

Housing will not magically fall off a cliff all at once, it will be more like a wave that travels inwards from peripheral regions.
Heavily overbuilt exurbs are first to feel the hurt. It’s already very bad in Hemet. Temecula and Murrieta are getting there. When Temecula gets to $100/sq ft, people will start thinking “hmm why should I pay $300/sq ft in Escondido or San Marcos when I can have 2x bigger house for less money in Riverside County?”, Temecula will start stabilizing, Escondido and San Marcos will start experiencing slow sales and falling prices, etc.

[bsrsharma]

1st generation American (F.O.B.)?

Funny & beautiful at the same time. FOB considered 1st generation "American". Don’t you have to wait till he/she swears Oath of Allegiance to call him American?

[lendingbubblecontinues]

I’d imagine it was the “San Diego Chargers might make it to the Super Bowl effect” or it could have simply been one of those ever-elusive “greater fools”.

By chance, was/is the buyer 1st generation American (F.O.B.)?

[eyePod]

sdworker,
you have provided insufficient data. Please post price and house details.

[Arty]

Send us the address when you actually closed and sold.

[waterboy]

sdworker

did you actually close yet?

[Ex-SD]

Congratulations! I don’t think that any neighborhoods (except the ultra-mansions in the $15 million plus range) will be immune from the bursting bubble. IMHO, there will always be some buyers who refuse to believe what is obvious and it looks like you caught one.

Also, the outlying areas always get hit first (and the worst) and then it starts moving towards the better neighborhoods. I read several other housing-bubble blogs and communities like Santa Monica and Pacific Palisades in the west end of L.A. (which are very high priced for what you get) are starting to see larger reductions in their asking prices, rising inventories and more negative press.

Be happy that you sold. Now, you can sit back and watch the festivities.

[NotCranky]

Tell the truth. You buried a little upside down statue in the yard, didn’t you?

[Fearful]

If you really are interested in analysis, it would be helpful to post info about your house rather than just that it sold at full price.

[kewp]

Lots of people here say ‘a sinking tide lowers all ships’.

I disagree and feel prime properties are going to retain much of their value, possibly even make gains.

Time will tell of course, especially if we have a recession.

[gold_dredger_phd]

You priced your house correctly for sale.

In your neck of the woods, where commuting is easy, you have plenty of potential buyers. It’s location, location, location, and not price, price, price. Absent a recession, or a mass grave in the back yard, houses in that location will always be in demand.

[MANmom]

You obviously priced it right the first time…I just saw a house that had previously been on the market for over a year but was taken off the market after it did not sell. They kept it off for about a month, now it is relisted, still at the same price it did not sell at before. It is in Torrey Highlands, too. The right price will sell every time.

MANmom

[MANmom]

You obviously priced it right the first time…I just saw a house that had previously been on the market for over a year but was taken off the market after it did not sell. They kept it off for about a month, now it is relisted, still at the same price it did not sell at before. It is in Torrey Highlands, too. The right price will sell every time.

MANmom

[sdcellar]

sdworker— You know not of what you speak and are now conspicuously missing from this thread. I live in Torrey Highlands and have been following the area closely for over a year and I can say without a doubt that prices are DOWN relative to last year. Inventory is also at the highest point it’s been all year. As SD Realtor stated, it’s held up pretty well, but to characterize it as up (or even holding) is just plain wrong.

If you’re in escrow, good for you. Regardless of your actual understanding of your local market, you must have priced your home correctly. Either that, or you got lucky, and I’m sure that can still happen for nice clean newer homes in good areas.

[Fearful]

And get that thing through escrow as fast as possible! I did a two week close on my San Jose house and am damn glad I did – the credit markets seized up about three weeks after close.

[SD Transplant]

SD Worker,

I guess in real value the house is already depreciating because:

1) You’re talking about the mighty U.S. Dollar $ (taking a hit). Hence, count the depreciation of your asset by at least 5% this year. It is a Global economy after all.
2) Don’t forget inflation (not the one reported by our economists….I mean real inflation).
3) You already stated that prices are down from the peaks of 2005.
4) Opportunity cost (assuming you had some $ down or the delta between rent vs buy).

If you add all this up, with conservative figures under each point (3% for each), you’re already down 12%.

[surveyor]

fast sale here too

My next door neighbor had his house for sale for two weeks and then a SOLD sign went up, prompting a “wtf?” from me when I walked by it. I haven’t seen him yet, but I wanted to ask him details about his sale. I didn’t even see his house hit the MLS.

=shrug= I should probably sell my house, but I think it’ll be a harder sell. Also I hate moving. Also there are too many things that need to be done to the house…

(My neighborhood is carmel mountain ranch, and it’s all tract homes here)

[surveyor]

fast sale here too

My next door neighbor had his house for sale for two weeks and then a SOLD sign went up, prompting a “wtf?” from me when I walked by it. I haven’t seen him yet, but I wanted to ask him details about his sale. I didn’t even see his house hit the MLS.

=shrug= I should probably sell my house, but I think it’ll be a harder sell. Also I hate moving. Also there are too many things that need to be done to the house…

(My neighborhood is carmel mountain ranch, and it’s all tract homes here)

[SD Transplant]

SD Worker,

I guess in real value the house is already depreciating because:

1) You’re talking about the mighty U.S. Dollar $ (taking a hit). Hence, count the depreciation of your asset by at least 5% this year. It is a Global economy after all.
2) Don’t forget inflation (not the one reported by our economists….I mean real inflation).
3) You already stated that prices are down from the peaks of 2005.
4) Opportunity cost (assuming you had some $ down or the delta between rent vs buy).

If you add all this up, with conservative figures under each point (3% for each), you’re already down 12%.

[Fearful]

And get that thing through escrow as fast as possible! I did a two week close on my San Jose house and am damn glad I did – the credit markets seized up about three weeks after close.

[sdcellar]

sdworker— You know not of what you speak and are now conspicuously missing from this thread. I live in Torrey Highlands and have been following the area closely for over a year and I can say without a doubt that prices are DOWN relative to last year. Inventory is also at the highest point it’s been all year. As SD Realtor stated, it’s held up pretty well, but to characterize it as up (or even holding) is just plain wrong.

If you’re in escrow, good for you. Regardless of your actual understanding of your local market, you must have priced your home correctly. Either that, or you got lucky, and I’m sure that can still happen for nice clean newer homes in good areas.

[Blissful Ignoramus]

A number of thoughts:

Isn’t the common wisdom around here that the deflation has just begun? You’re still in a hugely inflated market, therefore, it isn’t too surprising that the prices are just a bit below where they were two years ago. Good for you for selling at the peak — not the absolute top of the peak, but close enough.

Also, it’s obvious that some places are going to retain their value better than others, either with a slower rate of decline or less decline overall. The best and most desirable areas should fit that bill.

Pricing to sell is important. You probably did that.

And finally, all of the discussion about bubbles, etc., is about averages. People still overpay for real estate every day. You didn’t provide any information, but maybe you just got lucky.

[SD Realtor]

For those who care to look.

Here is the previous MLS activity for Torrey Highlands from 1/1/04. Sorry but I am way to lazy to format it for readability. Also homes must actually write Torrey Highlands in the subdivision field for them to get caught in this search. Most of them do but some may not.

The bottom line is that TH has held values pretty well but to say it has not depreciated is IMO a false statement. It is a good example of how different areas hold up better then others. Also to think it will fall by 50% from the peak it had is also IMO, wishful thinking. That is just my opinion though… after all it’s just a blog …

Active 8237 Torrey Gardens Pl 92129 1189A4 4 4.5 ER 3408 $ 899,000 – $ 921,000 9/28/2007
Active 8362 Entreken Way 92129 1189B4 5 5 EA 3974 $ 1,045,000 – $ 1,095,000 9/28/2007
Pending 12485 SUNDANCE AVENUE 92129 1189B5 5 4.5 ER 3974 $ 949,999 – $ 999,999 8/18/2007
Sold 13325 Russet Leaf Ln 92129 1189B4 4 3 ER 1849 $ 581,000 5/18/2007 5 041043049 8 Q
Sold 7390 Via Rivera 92129 * 1188J4 3 2.5 EA 1813 $ 655,000 – $ 655,000 10/15/2004
Sold 7384 Via Rivera 92129 1188J4 4 2.5 ER 1933 $ 655,000 – $ 655,000 1/27/2005
Sold 8335 Bryn Glen Way 92129 1189b2 4 2.5 ER 2100 $ 720,000 – $ 720,000 3/2/2004
Sold 7336 VIA CRESTA 92129 1188J4 5 3 ER 2858 $ 775,000 – $ 775,000 7/13/2007
Sold 7233 CANYON GLEN COURT 92129 1188J4 5 3 EA 2858 $ 816,000 – $ 816,000 9/1/2004
Sold 8224 TORREY GARDENS PLACE 92129 1189A4 4 3.5 EA 3091 $ 862,000 3/18/2005
Sold 7050 Cantaberra Ct 92129 1188J4 5 5 ER 3284 $ 895,000 7/12/2007
Sold 13324 Copperwind Ln 92129 1188J4 4 4.5 ER 3141 $ 930,000 – $ 930,000 12/28/2005
Sold 7072 Chapala Canyon Ct 92129 1188J4 5 4.5 EA 3864 $ 955,000 6/7/2007
Sold 8376 ENTREKEN WAY 92129 1189B4 5 4.5 ER 3985 $ 960,000 – $ 960,000 11/10/2004
Sold 13659 TORREY GLENN RD. 92129 * 1189B3 4 3 ER 3003 $ 960,000 – $ 960,000 12/16/2005
Sold 8229 Torrey Gardens Pl 92129 1189A4 5 4.5 ER 3448 $ 970,000 7/10/2007
Sold 13310 TRAILHEAD PL 92129 1189B4 4 3.5 ER 3091 $ 1,000,000 8/3/2005
Sold 13691 Torrey Glenn 92129 1189B3 4 4 ER 3315 $ 1,042,000 3/4/2005
Sold 8320 ENTREKEN WAY 92129 1189B4 4 4 ER 3813 $ 1,045,000 – $ 1,045,000 10/20/2005
Sold 13725 Torrey Glenn Road 92129 1189B3 5 4 ER 3500 $ 1,065,000 10/26/2004
Sold 8337 AUBURN RIDGE WAY 92129 1189B4 5 4.5 EA 3974 $ 1,075,000 – $ 1,075,000 3/10/2005
Sold 13825 TORREY BELLA CT. 92129 1189B3 4 4 ER 3300 $ 1,100,000 10/14/2004
Sold 8316 Entreken Way 92129 1189B4 6 4.5 ER 3985 $ 1,100,000 – $ 1,100,000 9/1/2004
Sold 8326 Auburn Ridge Way 92129 1189B4 5 4.5 ER 3813 $ 1,100,000 – $ 1,100,000 10/12/2004
Sold 8301 Torrey Park Ter 92129 1189B4 5 4 ER 3071 $ 1,100,000 – $ 1,100,000 4/8/2005
Sold 13222 Ireland Lane 92129 * 1189B4 5 4.5 ER 3985 $ 1,100,000 – $ 1,100,000 11/21/2005
Sold 13658 Torrey Glenn Road 92129 1189B3 6 5.5 ER 3739 $ 1,107,500 – $ 1,107,500 5/26/2004
Sold 8335 Entreken Way 92129 1189B4 5 4.5 ER 3985 $ 1,130,000 – $ 1,130,000 4/27/2006
Sold 13705 Torrey Glenn Road 92129 1189B3 6 5.5 ER 3725 $ 1,132,500 – $ 1,132,500 10/21/2005
Sold 13705 Torrey Glenn Road 92129 1189B3 6 5.5 ER 3725 $ 1,237,500 – $ 1,237,500 6/30/2005
Sold 13844 Torrey Del Mar Drive 92130 1183J3 5 5 ER 3670 $ 1,110,000 – $ 1,110,000 7/10/2006
Expired 7384 Via Rivera 92129 1188J4 4 2.5 ER 1931 $ 645,000 – $ 675,000 12/5/2006
Expired 7381 Via Rivera 92129 1188J4 4 2.5 ER 1931 $ 679,000 – $ 709,000 6/21/2006
Expired 7190 Primrose Ln 92129 1188j4 4 3 O 2682 $ 925,000 4/13/2006
Expired 8237 Torrey Gardens Pl 92129 1189A4 4 4.5 EA 3408 $ 899,000 – $ 949,000 7/31/2007
Expired 13322 Trailhead Pl 92129 1189B4 6 4.5 ER 3260 $ 899,900 – $ 959,900 12/27/2006
Expired 13322 Trailhead Pl 92129 1189B4 6 4.5 ER 3260 $ 950,000 – $ 995,000 6/20/2006
Expired 8237 Torrey Gardens Pl 92129 1189A4 4 4.5 ER 3500 $ 949,000 – $ 999,000 4/26/2007
Expired 12485 SUNDANCE AVENUE 92129 1189B5 5 4.5 ER 3974 $ 989,000 – $ 1,029,000 5/28/2007
Expired 13691 Torrey Glenn Rd. 92129 1189B3 4 4 ER 3315 $ 1,069,000 12/22/2004
Expired 8352 Entreken Way 92129 1189B4 4 4.5 ER 3985 $ 1,075,000 – $ 1,165,000 10/21/2005
Expired 7122 Sherbourne Lane 92129 1087B7 4 3.5 ER 3081 $ 1,150,000 – $ 1,250,000 6/30/2006
Cancelled 7384 VIA RIVERA 92129 1188J4 4 2.5 ER 1933 $ 664,000 – $ 684,000 11/11/2004
Cancelled 8267 Bryn Glen Way 92129 1189B3 3 2.5 O 1630 $ 690,000 – $ 719,000 11/2/2004
Cancelled 7020 Sherbourne Ln 92129 * 1188J4 4 3 EA 2529 $ 879,900 – $ 929,900 5/24/2004
Cancelled 7008 Santa Fe Canyon Place 92129 * 1188h4 4 2.5 ER 3331 $ 889,900 – $ 929,900 3/2/2005
Cancelled 8327 Auburn Ridge Way 92129 1189B4 4 5 ER 3985 $ 1,149,000 2/21/2005
Cancelled 8237 Torrey Gardens Pl 92129 1189A4 4 4.5 ER 3500 $ 999,000 – $ 1,150,000 1/5/2007
Cancelled 13222 Ireland Lane 92129 * 1189B4 5 4.5 ER 3985 $ 1,100,000 – $ 1,175,000 9/29/2005
Cancelled 8403 Watson Ranch Road 92129 1189B3 6 5.5 O 3749 $ 1,190,000 – $ 1,290,000 7/21/2006

[gracie]

I think it comes down to location and schools…
Torrey Highlands is a GREAT location….with great schools. Westview is a fantastic high school and a new elementary school is being built to open in ’08.

[NotCranky]

SD worker probably didn’t realize he or she was going to be expected to break their own anonymity to prove the point and bailed.

[NotCranky]

SD worker probably didn’t realize he or she was going to be expected to break their own anonymity to prove the point and bailed.

[gracie]

I think it comes down to location and schools…
Torrey Highlands is a GREAT location….with great schools. Westview is a fantastic high school and a new elementary school is being built to open in ’08.

[SD Realtor]

For those who care to look.

Here is the previous MLS activity for Torrey Highlands from 1/1/04. Sorry but I am way to lazy to format it for readability. Also homes must actually write Torrey Highlands in the subdivision field for them to get caught in this search. Most of them do but some may not.

The bottom line is that TH has held values pretty well but to say it has not depreciated is IMO a false statement. It is a good example of how different areas hold up better then others. Also to think it will fall by 50% from the peak it had is also IMO, wishful thinking. That is just my opinion though… after all it’s just a blog …

Active 8237 Torrey Gardens Pl 92129 1189A4 4 4.5 ER 3408 $ 899,000 – $ 921,000 9/28/2007
Active 8362 Entreken Way 92129 1189B4 5 5 EA 3974 $ 1,045,000 – $ 1,095,000 9/28/2007
Pending 12485 SUNDANCE AVENUE 92129 1189B5 5 4.5 ER 3974 $ 949,999 – $ 999,999 8/18/2007
Sold 13325 Russet Leaf Ln 92129 1189B4 4 3 ER 1849 $ 581,000 5/18/2007 5 041043049 8 Q
Sold 7390 Via Rivera 92129 * 1188J4 3 2.5 EA 1813 $ 655,000 – $ 655,000 10/15/2004
Sold 7384 Via Rivera 92129 1188J4 4 2.5 ER 1933 $ 655,000 – $ 655,000 1/27/2005
Sold 8335 Bryn Glen Way 92129 1189b2 4 2.5 ER 2100 $ 720,000 – $ 720,000 3/2/2004
Sold 7336 VIA CRESTA 92129 1188J4 5 3 ER 2858 $ 775,000 – $ 775,000 7/13/2007
Sold 7233 CANYON GLEN COURT 92129 1188J4 5 3 EA 2858 $ 816,000 – $ 816,000 9/1/2004
Sold 8224 TORREY GARDENS PLACE 92129 1189A4 4 3.5 EA 3091 $ 862,000 3/18/2005
Sold 7050 Cantaberra Ct 92129 1188J4 5 5 ER 3284 $ 895,000 7/12/2007
Sold 13324 Copperwind Ln 92129 1188J4 4 4.5 ER 3141 $ 930,000 – $ 930,000 12/28/2005
Sold 7072 Chapala Canyon Ct 92129 1188J4 5 4.5 EA 3864 $ 955,000 6/7/2007
Sold 8376 ENTREKEN WAY 92129 1189B4 5 4.5 ER 3985 $ 960,000 – $ 960,000 11/10/2004
Sold 13659 TORREY GLENN RD. 92129 * 1189B3 4 3 ER 3003 $ 960,000 – $ 960,000 12/16/2005
Sold 8229 Torrey Gardens Pl 92129 1189A4 5 4.5 ER 3448 $ 970,000 7/10/2007
Sold 13310 TRAILHEAD PL 92129 1189B4 4 3.5 ER 3091 $ 1,000,000 8/3/2005
Sold 13691 Torrey Glenn 92129 1189B3 4 4 ER 3315 $ 1,042,000 3/4/2005
Sold 8320 ENTREKEN WAY 92129 1189B4 4 4 ER 3813 $ 1,045,000 – $ 1,045,000 10/20/2005
Sold 13725 Torrey Glenn Road 92129 1189B3 5 4 ER 3500 $ 1,065,000 10/26/2004
Sold 8337 AUBURN RIDGE WAY 92129 1189B4 5 4.5 EA 3974 $ 1,075,000 – $ 1,075,000 3/10/2005
Sold 13825 TORREY BELLA CT. 92129 1189B3 4 4 ER 3300 $ 1,100,000 10/14/2004
Sold 8316 Entreken Way 92129 1189B4 6 4.5 ER 3985 $ 1,100,000 – $ 1,100,000 9/1/2004
Sold 8326 Auburn Ridge Way 92129 1189B4 5 4.5 ER 3813 $ 1,100,000 – $ 1,100,000 10/12/2004
Sold 8301 Torrey Park Ter 92129 1189B4 5 4 ER 3071 $ 1,100,000 – $ 1,100,000 4/8/2005
Sold 13222 Ireland Lane 92129 * 1189B4 5 4.5 ER 3985 $ 1,100,000 – $ 1,100,000 11/21/2005
Sold 13658 Torrey Glenn Road 92129 1189B3 6 5.5 ER 3739 $ 1,107,500 – $ 1,107,500 5/26/2004
Sold 8335 Entreken Way 92129 1189B4 5 4.5 ER 3985 $ 1,130,000 – $ 1,130,000 4/27/2006
Sold 13705 Torrey Glenn Road 92129 1189B3 6 5.5 ER 3725 $ 1,132,500 – $ 1,132,500 10/21/2005
Sold 13705 Torrey Glenn Road 92129 1189B3 6 5.5 ER 3725 $ 1,237,500 – $ 1,237,500 6/30/2005
Sold 13844 Torrey Del Mar Drive 92130 1183J3 5 5 ER 3670 $ 1,110,000 – $ 1,110,000 7/10/2006
Expired 7384 Via Rivera 92129 1188J4 4 2.5 ER 1931 $ 645,000 – $ 675,000 12/5/2006
Expired 7381 Via Rivera 92129 1188J4 4 2.5 ER 1931 $ 679,000 – $ 709,000 6/21/2006
Expired 7190 Primrose Ln 92129 1188j4 4 3 O 2682 $ 925,000 4/13/2006
Expired 8237 Torrey Gardens Pl 92129 1189A4 4 4.5 EA 3408 $ 899,000 – $ 949,000 7/31/2007
Expired 13322 Trailhead Pl 92129 1189B4 6 4.5 ER 3260 $ 899,900 – $ 959,900 12/27/2006
Expired 13322 Trailhead Pl 92129 1189B4 6 4.5 ER 3260 $ 950,000 – $ 995,000 6/20/2006
Expired 8237 Torrey Gardens Pl 92129 1189A4 4 4.5 ER 3500 $ 949,000 – $ 999,000 4/26/2007
Expired 12485 SUNDANCE AVENUE 92129 1189B5 5 4.5 ER 3974 $ 989,000 – $ 1,029,000 5/28/2007
Expired 13691 Torrey Glenn Rd. 92129 1189B3 4 4 ER 3315 $ 1,069,000 12/22/2004
Expired 8352 Entreken Way 92129 1189B4 4 4.5 ER 3985 $ 1,075,000 – $ 1,165,000 10/21/2005
Expired 7122 Sherbourne Lane 92129 1087B7 4 3.5 ER 3081 $ 1,150,000 – $ 1,250,000 6/30/2006
Cancelled 7384 VIA RIVERA 92129 1188J4 4 2.5 ER 1933 $ 664,000 – $ 684,000 11/11/2004
Cancelled 8267 Bryn Glen Way 92129 1189B3 3 2.5 O 1630 $ 690,000 – $ 719,000 11/2/2004
Cancelled 7020 Sherbourne Ln 92129 * 1188J4 4 3 EA 2529 $ 879,900 – $ 929,900 5/24/2004
Cancelled 7008 Santa Fe Canyon Place 92129 * 1188h4 4 2.5 ER 3331 $ 889,900 – $ 929,900 3/2/2005
Cancelled 8327 Auburn Ridge Way 92129 1189B4 4 5 ER 3985 $ 1,149,000 2/21/2005
Cancelled 8237 Torrey Gardens Pl 92129 1189A4 4 4.5 ER 3500 $ 999,000 – $ 1,150,000 1/5/2007
Cancelled 13222 Ireland Lane 92129 * 1189B4 5 4.5 ER 3985 $ 1,100,000 – $ 1,175,000 9/29/2005
Cancelled 8403 Watson Ranch Road 92129 1189B3 6 5.5 O 3749 $ 1,190,000 – $ 1,290,000 7/21/2006

[Blissful Ignoramus]

A number of thoughts:

Isn’t the common wisdom around here that the deflation has just begun? You’re still in a hugely inflated market, therefore, it isn’t too surprising that the prices are just a bit below where they were two years ago. Good for you for selling at the peak — not the absolute top of the peak, but close enough.

Also, it’s obvious that some places are going to retain their value better than others, either with a slower rate of decline or less decline overall. The best and most desirable areas should fit that bill.

Pricing to sell is important. You probably did that.

And finally, all of the discussion about bubbles, etc., is about averages. People still overpay for real estate every day. You didn’t provide any information, but maybe you just got lucky.

[Author]

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