North County coastal prices — will they ever decline?

[lu]

JWM — I agree with you. I’m renting a place just down the street. My apartment also has a panoramic ocean view and a large garage (albeit detached). It costs me just $2200 per month; that’s a much better deal than the mortgage on $1.4M. 🙂

I’m just curious what other people thought about this listing, and prices in North County Coastal areas in general.

– Lu

quote:
———–
| No, they are not immune, you just need to adjust your timeframe
| by several years is all. Just rent, what’s the big deal about buying
| right now?
———–

[jimmyle]

http://www.sdlookup.com/Property-0CD86997-5158_Rancho_Verde_Trl_San_Diego_CA_92130

37% decline from 2005 to 2007 in Carmel Valley. What I don’t understand is that why it is only $550K in 2002? Perhaps it was only a piece of land then.

Date Price Held Return Annual
09/17/2007 $2,500,000 2y 2m -32% -17%
07/18/2005 $3,700,000 3y 3m 573% 78%
03/29/2002 $550,000 n/a – –

[jimmyle]

http://www.sdlookup.com/Property-0CD86997-5158_Rancho_Verde_Trl_San_Diego_CA_92130

37% decline from 2005 to 2007 in Carmel Valley. What I don’t understand is that why it is only $550K in 2002? Perhaps it was only a piece of land then.

Date Price Held Return Annual
09/17/2007 $2,500,000 2y 2m -32% -17%
07/18/2005 $3,700,000 3y 3m 573% 78%
03/29/2002 $550,000 n/a – –

[jimmyle]

http://www.sdlookup.com/Property-0CD86997-5158_Rancho_Verde_Trl_San_Diego_CA_92130

37% decline from 2005 to 2007 in Carmel Valley. What I don’t understand is that why it is only $550K in 2002? Perhaps it was only a piece of land then.

Date Price Held Return Annual
09/17/2007 $2,500,000 2y 2m -32% -17%
07/18/2005 $3,700,000 3y 3m 573% 78%
03/29/2002 $550,000 n/a – –

[Author]

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