North County Coastal Market-Why so sticky?

[Eugene]

[quote](prices seem to be about 50% higher nominally since 1999)[/quote]

But they aren’t. If they were only 50% higher nominally since 1999, that wouldn’t be too much out of the ordinary. They are about 80% higher, sometimes more.

This one is up 80% since mid-2001:

http://www.sdlookup.com/MLS-090050641-523_Cornish_Encinitas_CA_92024

This one is up 80% since 1999:

http://www.sdlookup.com/MLS-090066780-2325_Camino_Robledo_Carlsbad_CA_92009

This one, as well:

http://www.sdlookup.com/MLS-090037458-2511_Unicornio_St_Carlsbad_CA_92009

This one is up 130%:

http://www.sdlookup.com/MLS-090063110-1750_Hygeia_Ave_Encinitas_CA_92024

[blahblahblah]

Maybe he meant inflation-adjusted, not nominal? IMO there has been massive inflation since 2000.

Those are some nice houses BTW.

[blahblahblah]

Maybe he meant inflation-adjusted, not nominal? IMO there has been massive inflation since 2000.

Those are some nice houses BTW.

[blahblahblah]

Maybe he meant inflation-adjusted, not nominal? IMO there has been massive inflation since 2000.

Those are some nice houses BTW.

[blahblahblah]

Maybe he meant inflation-adjusted, not nominal? IMO there has been massive inflation since 2000.

Those are some nice houses BTW.

[blahblahblah]

Maybe he meant inflation-adjusted, not nominal? IMO there has been massive inflation since 2000.

Those are some nice houses BTW.

[Eugene]

Also to put 80% growth in 10 years in perspective – say what you will about Escondido and Valley Center, but here’s a nice house that closed just 9% above 2000 purchase price last month:

http://www.sdlookup.com/MLS-100002037-2629_Old_Spanish_Escondido_CA_92025

This one in Valley Center is up 6% since 2000:

http://www.sdlookup.com/MLS-090063856-18728_Clearview_Ln_Valley_Center_CA_92082

This one in Bonita below 2001 purchase price:

http://www.sdlookup.com/MLS-090036716-373_Camino_Elevado_Bonita_CA_91902

[quote]That is a huge amount of unmet demand. [/quote]

I’d call that unmet supply. Among people who wanted to buy in NCC and didn’t, many bought elsewhere or moved out of the county. Among people who wanted to sell and couldn’t, all of them still own their houses, some of them are renting out temporarily, waiting for the market to “recover”.

[Eugene]

Also to put 80% growth in 10 years in perspective – say what you will about Escondido and Valley Center, but here’s a nice house that closed just 9% above 2000 purchase price last month:

http://www.sdlookup.com/MLS-100002037-2629_Old_Spanish_Escondido_CA_92025

This one in Valley Center is up 6% since 2000:

http://www.sdlookup.com/MLS-090063856-18728_Clearview_Ln_Valley_Center_CA_92082

This one in Bonita below 2001 purchase price:

http://www.sdlookup.com/MLS-090036716-373_Camino_Elevado_Bonita_CA_91902

[quote]That is a huge amount of unmet demand. [/quote]

I’d call that unmet supply. Among people who wanted to buy in NCC and didn’t, many bought elsewhere or moved out of the county. Among people who wanted to sell and couldn’t, all of them still own their houses, some of them are renting out temporarily, waiting for the market to “recover”.

[Eugene]

Also to put 80% growth in 10 years in perspective – say what you will about Escondido and Valley Center, but here’s a nice house that closed just 9% above 2000 purchase price last month:

http://www.sdlookup.com/MLS-100002037-2629_Old_Spanish_Escondido_CA_92025

This one in Valley Center is up 6% since 2000:

http://www.sdlookup.com/MLS-090063856-18728_Clearview_Ln_Valley_Center_CA_92082

This one in Bonita below 2001 purchase price:

http://www.sdlookup.com/MLS-090036716-373_Camino_Elevado_Bonita_CA_91902

[quote]That is a huge amount of unmet demand. [/quote]

I’d call that unmet supply. Among people who wanted to buy in NCC and didn’t, many bought elsewhere or moved out of the county. Among people who wanted to sell and couldn’t, all of them still own their houses, some of them are renting out temporarily, waiting for the market to “recover”.

[Eugene]

Also to put 80% growth in 10 years in perspective – say what you will about Escondido and Valley Center, but here’s a nice house that closed just 9% above 2000 purchase price last month:

http://www.sdlookup.com/MLS-100002037-2629_Old_Spanish_Escondido_CA_92025

This one in Valley Center is up 6% since 2000:

http://www.sdlookup.com/MLS-090063856-18728_Clearview_Ln_Valley_Center_CA_92082

This one in Bonita below 2001 purchase price:

http://www.sdlookup.com/MLS-090036716-373_Camino_Elevado_Bonita_CA_91902

[quote]That is a huge amount of unmet demand. [/quote]

I’d call that unmet supply. Among people who wanted to buy in NCC and didn’t, many bought elsewhere or moved out of the county. Among people who wanted to sell and couldn’t, all of them still own their houses, some of them are renting out temporarily, waiting for the market to “recover”.

[Eugene]

Also to put 80% growth in 10 years in perspective – say what you will about Escondido and Valley Center, but here’s a nice house that closed just 9% above 2000 purchase price last month:

http://www.sdlookup.com/MLS-100002037-2629_Old_Spanish_Escondido_CA_92025

This one in Valley Center is up 6% since 2000:

http://www.sdlookup.com/MLS-090063856-18728_Clearview_Ln_Valley_Center_CA_92082

This one in Bonita below 2001 purchase price:

http://www.sdlookup.com/MLS-090036716-373_Camino_Elevado_Bonita_CA_91902

[quote]That is a huge amount of unmet demand. [/quote]

I’d call that unmet supply. Among people who wanted to buy in NCC and didn’t, many bought elsewhere or moved out of the county. Among people who wanted to sell and couldn’t, all of them still own their houses, some of them are renting out temporarily, waiting for the market to “recover”.

[sdrealtor]

Eugene
Most of those properties had major remodelling on them. The 2nd one is a new from builder price but with no landscaping, paint, window treatments etc. I can see it from my house and know he has at least 525K to 550K in it of 1999 dollars. Throw 50% on that and you got about 800K plus it was bought in 1998 but closed in 1999.

I’m talking general price levels and like for like sales. i know this market like the back of my hand and pulling sales from Escondido on homes you dont know the history on is not a far comparison. I sold a encinitas townhouse in 1999 for about 250K and today it wouldnt sell for 400K. You will have to trust me on this one. Prices really are only up a little over 50% nominally around her in the last decade.

[sdrealtor]

Eugene
Most of those properties had major remodelling on them. The 2nd one is a new from builder price but with no landscaping, paint, window treatments etc. I can see it from my house and know he has at least 525K to 550K in it of 1999 dollars. Throw 50% on that and you got about 800K plus it was bought in 1998 but closed in 1999.

I’m talking general price levels and like for like sales. i know this market like the back of my hand and pulling sales from Escondido on homes you dont know the history on is not a far comparison. I sold a encinitas townhouse in 1999 for about 250K and today it wouldnt sell for 400K. You will have to trust me on this one. Prices really are only up a little over 50% nominally around her in the last decade.

[sdrealtor]

Eugene
Most of those properties had major remodelling on them. The 2nd one is a new from builder price but with no landscaping, paint, window treatments etc. I can see it from my house and know he has at least 525K to 550K in it of 1999 dollars. Throw 50% on that and you got about 800K plus it was bought in 1998 but closed in 1999.

I’m talking general price levels and like for like sales. i know this market like the back of my hand and pulling sales from Escondido on homes you dont know the history on is not a far comparison. I sold a encinitas townhouse in 1999 for about 250K and today it wouldnt sell for 400K. You will have to trust me on this one. Prices really are only up a little over 50% nominally around her in the last decade.

[sdrealtor]

Eugene
Most of those properties had major remodelling on them. The 2nd one is a new from builder price but with no landscaping, paint, window treatments etc. I can see it from my house and know he has at least 525K to 550K in it of 1999 dollars. Throw 50% on that and you got about 800K plus it was bought in 1998 but closed in 1999.

I’m talking general price levels and like for like sales. i know this market like the back of my hand and pulling sales from Escondido on homes you dont know the history on is not a far comparison. I sold a encinitas townhouse in 1999 for about 250K and today it wouldnt sell for 400K. You will have to trust me on this one. Prices really are only up a little over 50% nominally around her in the last decade.

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