NODs in Carmel Valley…Immune? I think not…

[equalizer]

Who I watch on CNBC:

Ron Insana, Barry Ritholtz and Fleckenstein, the bear trifecta, not the permabull Kudlow.

So, what am I missing? There may be financial pain for 50-80% of families, but the top 10-20% have tremendous assets and can still buy what they want. BMW, Mercedes, Lexus sales are down 3-8% year over year, but look back at early 90’s with 9% unemployment in San Diego and how much did coastal properties drop? 20-30%. We have less than 6% unemployment now, so unless we have big recession, CV prices should not fall 50%. While ARMs are much bigger part, most people have likely refinanced by now. If you have valid points I’ve missed please elaborate.

April 2008 car sales:
http://www.autoobserver.com/2008/05/april-car-sales-us-consumers-flock-to-cars-gouging-detroit-three.html

[Anonymous]

rmacdon1

I subscribe to ForeclosureRadar.com and here are today’s stats on foreclosures in Carmel Valley. There are a total 66 Notice of Defaults and 19 Notice of Trustee Sales. Since Jan 2008 there are approximately 14 bank owned properties.

In the 92127 zip code which is mainly 4S Ranch, the numbers are much higher. There are a total 107 Notice of Defaults and 32 Notice of Trustee Sales. Since Jan 2008 there are approximately 52 bank owned properties.

[Anonymous]

rmacdon1

I subscribe to ForeclosureRadar.com and here are today’s stats on foreclosures in Carmel Valley. There are a total 66 Notice of Defaults and 19 Notice of Trustee Sales. Since Jan 2008 there are approximately 14 bank owned properties.

In the 92127 zip code which is mainly 4S Ranch, the numbers are much higher. There are a total 107 Notice of Defaults and 32 Notice of Trustee Sales. Since Jan 2008 there are approximately 52 bank owned properties.

[Anonymous]

rmacdon1

I subscribe to ForeclosureRadar.com and here are today’s stats on foreclosures in Carmel Valley. There are a total 66 Notice of Defaults and 19 Notice of Trustee Sales. Since Jan 2008 there are approximately 14 bank owned properties.

In the 92127 zip code which is mainly 4S Ranch, the numbers are much higher. There are a total 107 Notice of Defaults and 32 Notice of Trustee Sales. Since Jan 2008 there are approximately 52 bank owned properties.

[Anonymous]

rmacdon1

I subscribe to ForeclosureRadar.com and here are today’s stats on foreclosures in Carmel Valley. There are a total 66 Notice of Defaults and 19 Notice of Trustee Sales. Since Jan 2008 there are approximately 14 bank owned properties.

In the 92127 zip code which is mainly 4S Ranch, the numbers are much higher. There are a total 107 Notice of Defaults and 32 Notice of Trustee Sales. Since Jan 2008 there are approximately 52 bank owned properties.

[Anonymous]

rmacdon1

I subscribe to ForeclosureRadar.com and here are today’s stats on foreclosures in Carmel Valley. There are a total 66 Notice of Defaults and 19 Notice of Trustee Sales. Since Jan 2008 there are approximately 14 bank owned properties.

In the 92127 zip code which is mainly 4S Ranch, the numbers are much higher. There are a total 107 Notice of Defaults and 32 Notice of Trustee Sales. Since Jan 2008 there are approximately 52 bank owned properties.

[Fearful]

I have been watching my little area in Torrey Hills closely, and am puzzled by the small declines seen thus far.

I have formed an alternate theory that may explain the stickiness. In Silicon Valley there is a city, Cupertino, that is heavily Chinese. The city has no real redeeming value besides high test scores in the schools, at least relative to any of the other cities in the area. For some reason, Cupertino became a magnet for higher income Chinese professionals (the lower income go to Milpitas, across the valley). The result is that housing prices in Cupertino are, for the quality of what you get (mediocre 1970’s era tract houses), quite high.

I am wondering if the same thing has happened to Carmel Valley and Torrey Hills, especially as I watched a parade of Chinese marching through open houses in this neighborhood, and recent house sales going to Chinese families.

I do not know whether this is significant, or even correct, but if it is, what does it mean for real estate values in the area long term?

[Fearful]

I have been watching my little area in Torrey Hills closely, and am puzzled by the small declines seen thus far.

I have formed an alternate theory that may explain the stickiness. In Silicon Valley there is a city, Cupertino, that is heavily Chinese. The city has no real redeeming value besides high test scores in the schools, at least relative to any of the other cities in the area. For some reason, Cupertino became a magnet for higher income Chinese professionals (the lower income go to Milpitas, across the valley). The result is that housing prices in Cupertino are, for the quality of what you get (mediocre 1970’s era tract houses), quite high.

I am wondering if the same thing has happened to Carmel Valley and Torrey Hills, especially as I watched a parade of Chinese marching through open houses in this neighborhood, and recent house sales going to Chinese families.

I do not know whether this is significant, or even correct, but if it is, what does it mean for real estate values in the area long term?

[Fearful]

I have been watching my little area in Torrey Hills closely, and am puzzled by the small declines seen thus far.

I have formed an alternate theory that may explain the stickiness. In Silicon Valley there is a city, Cupertino, that is heavily Chinese. The city has no real redeeming value besides high test scores in the schools, at least relative to any of the other cities in the area. For some reason, Cupertino became a magnet for higher income Chinese professionals (the lower income go to Milpitas, across the valley). The result is that housing prices in Cupertino are, for the quality of what you get (mediocre 1970’s era tract houses), quite high.

I am wondering if the same thing has happened to Carmel Valley and Torrey Hills, especially as I watched a parade of Chinese marching through open houses in this neighborhood, and recent house sales going to Chinese families.

I do not know whether this is significant, or even correct, but if it is, what does it mean for real estate values in the area long term?

[Fearful]

I have been watching my little area in Torrey Hills closely, and am puzzled by the small declines seen thus far.

I have formed an alternate theory that may explain the stickiness. In Silicon Valley there is a city, Cupertino, that is heavily Chinese. The city has no real redeeming value besides high test scores in the schools, at least relative to any of the other cities in the area. For some reason, Cupertino became a magnet for higher income Chinese professionals (the lower income go to Milpitas, across the valley). The result is that housing prices in Cupertino are, for the quality of what you get (mediocre 1970’s era tract houses), quite high.

I am wondering if the same thing has happened to Carmel Valley and Torrey Hills, especially as I watched a parade of Chinese marching through open houses in this neighborhood, and recent house sales going to Chinese families.

I do not know whether this is significant, or even correct, but if it is, what does it mean for real estate values in the area long term?

[Fearful]

I have been watching my little area in Torrey Hills closely, and am puzzled by the small declines seen thus far.

I have formed an alternate theory that may explain the stickiness. In Silicon Valley there is a city, Cupertino, that is heavily Chinese. The city has no real redeeming value besides high test scores in the schools, at least relative to any of the other cities in the area. For some reason, Cupertino became a magnet for higher income Chinese professionals (the lower income go to Milpitas, across the valley). The result is that housing prices in Cupertino are, for the quality of what you get (mediocre 1970’s era tract houses), quite high.

I am wondering if the same thing has happened to Carmel Valley and Torrey Hills, especially as I watched a parade of Chinese marching through open houses in this neighborhood, and recent house sales going to Chinese families.

I do not know whether this is significant, or even correct, but if it is, what does it mean for real estate values in the area long term?

[Coronita]

I have been watching my little area in Torrey Hills closely, and am puzzled by the small declines seen thus far.

I have formed an alternate theory that may explain the stickiness. In Silicon Valley there is a city, Cupertino, that is heavily Chinese. The city has no real redeeming value besides high test scores in the schools, at least relative to any of the other cities in the area. For some reason, Cupertino became a magnet for higher income Chinese professionals (the lower income go to Milpitas, across the valley). The result is that housing prices in Cupertino are, for the quality of what you get (mediocre 1970's era tract houses), quite high.

I am wondering if the same thing has happened to Carmel Valley and Torrey Hills, especially as I watched a parade of Chinese marching through open houses in this neighborhood, and recent house sales going to Chinese families.

I do not know whether this is significant, or even correct, but if it is, what does it mean for real estate values in the area long term?

 

Trust me,

Carmel Valley schools are not Cupertino's 🙂 Bay area has a huge asian population. San Diego is nothing compared to it.

BTW: contrary to popular belief, asian's aren't really "richer" than everyone else. Perhaps, statistically, more are better at money management and better savers/penny pinchers. There is more of an emphasis on a "need" to buy a house versus rent.

 

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

I have been watching my little area in Torrey Hills closely, and am puzzled by the small declines seen thus far.

I have formed an alternate theory that may explain the stickiness. In Silicon Valley there is a city, Cupertino, that is heavily Chinese. The city has no real redeeming value besides high test scores in the schools, at least relative to any of the other cities in the area. For some reason, Cupertino became a magnet for higher income Chinese professionals (the lower income go to Milpitas, across the valley). The result is that housing prices in Cupertino are, for the quality of what you get (mediocre 1970's era tract houses), quite high.

I am wondering if the same thing has happened to Carmel Valley and Torrey Hills, especially as I watched a parade of Chinese marching through open houses in this neighborhood, and recent house sales going to Chinese families.

I do not know whether this is significant, or even correct, but if it is, what does it mean for real estate values in the area long term?

 

Trust me,

Carmel Valley schools are not Cupertino's 🙂 Bay area has a huge asian population. San Diego is nothing compared to it.

BTW: contrary to popular belief, asian's aren't really "richer" than everyone else. Perhaps, statistically, more are better at money management and better savers/penny pinchers. There is more of an emphasis on a "need" to buy a house versus rent.

 

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

I have been watching my little area in Torrey Hills closely, and am puzzled by the small declines seen thus far.

I have formed an alternate theory that may explain the stickiness. In Silicon Valley there is a city, Cupertino, that is heavily Chinese. The city has no real redeeming value besides high test scores in the schools, at least relative to any of the other cities in the area. For some reason, Cupertino became a magnet for higher income Chinese professionals (the lower income go to Milpitas, across the valley). The result is that housing prices in Cupertino are, for the quality of what you get (mediocre 1970's era tract houses), quite high.

I am wondering if the same thing has happened to Carmel Valley and Torrey Hills, especially as I watched a parade of Chinese marching through open houses in this neighborhood, and recent house sales going to Chinese families.

I do not know whether this is significant, or even correct, but if it is, what does it mean for real estate values in the area long term?

 

Trust me,

Carmel Valley schools are not Cupertino's 🙂 Bay area has a huge asian population. San Diego is nothing compared to it.

BTW: contrary to popular belief, asian's aren't really "richer" than everyone else. Perhaps, statistically, more are better at money management and better savers/penny pinchers. There is more of an emphasis on a "need" to buy a house versus rent.

 

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

I have been watching my little area in Torrey Hills closely, and am puzzled by the small declines seen thus far.

I have formed an alternate theory that may explain the stickiness. In Silicon Valley there is a city, Cupertino, that is heavily Chinese. The city has no real redeeming value besides high test scores in the schools, at least relative to any of the other cities in the area. For some reason, Cupertino became a magnet for higher income Chinese professionals (the lower income go to Milpitas, across the valley). The result is that housing prices in Cupertino are, for the quality of what you get (mediocre 1970's era tract houses), quite high.

I am wondering if the same thing has happened to Carmel Valley and Torrey Hills, especially as I watched a parade of Chinese marching through open houses in this neighborhood, and recent house sales going to Chinese families.

I do not know whether this is significant, or even correct, but if it is, what does it mean for real estate values in the area long term?

 

Trust me,

Carmel Valley schools are not Cupertino's 🙂 Bay area has a huge asian population. San Diego is nothing compared to it.

BTW: contrary to popular belief, asian's aren't really "richer" than everyone else. Perhaps, statistically, more are better at money management and better savers/penny pinchers. There is more of an emphasis on a "need" to buy a house versus rent.

 

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Author]

Posts