Pain in La Jolla

[XBoxBoy]

I keep hearing that high end areas like La Jolla are immune from the downturn. Problem is that this just doesn’t jib with what I’m seeing. So I thought a thread that would list houses and condos in La Jolla that sold below previous price would be good. Have a look at these:

Most recently:
http://www.sdlookup.com/Property-A0175A79-8585_El_Paseo_Grande_La_Jolla_CA_92037
A nice house on a nice street,
previously sold for $3,000,000
just closed for $2,580,000
LOSS of $420,000

http://www.sdlookup.com/Property-0C67DEC7-5440_La_Jolla_Blvd_E303_La_Jolla_CA_92037
A condo in the Seahaus complex
previously sold for $863,995
resold for $755,000
LOSS of $108,995

http://www.sdlookup.com/Property-58452B42-3190_Morning_Way_La_Jolla_CA_92037
condo near UTC
previously sold for $679,000
resold for $545,000
LOSS of $134,000

http://www.sdlookup.com/Property-90C22A47-9229_Regents_Rd_L126_La_Jolla_CA_92037
condo near UTC
previously sold for $522,000
resold for $409,000
LOSS of $111,000

okay, just a sampling of the losses. These all happened this month (April 2008) and are losses over $100,000. There’s plenty more prior to this month so maybe I’ll dig back into past sales and drag some of the better ones out when I get some time. Note that I’m not counting any broker fees, or taxes or carrying costs into the loss number. There are also a number of pendings which are undoubtedly going to make my list when they close.

[34f3f3f]

That’s very useful, thanks XB, and just what I want to see …keep it coming and long may it last. $755k for a condo is still nuts though!

[34f3f3f]

That’s very useful, thanks XB, and just what I want to see …keep it coming and long may it last. $755k for a condo is still nuts though!

[34f3f3f]

That’s very useful, thanks XB, and just what I want to see …keep it coming and long may it last. $755k for a condo is still nuts though!

[34f3f3f]

That’s very useful, thanks XB, and just what I want to see …keep it coming and long may it last. $755k for a condo is still nuts though!

[34f3f3f]

That’s very useful, thanks XB, and just what I want to see …keep it coming and long may it last. $755k for a condo is still nuts though!

[Anonymous]

xbox

Yeah, that is great to see. Thanks for the posting. Ive been watching PB and it is just painful to see prices not dropping (much). Id imagine that it has alot to do with low sales volume.

In march 6 condos sold. Average during the bubble years was 30+ 3bed 1200 sq ft 4 attached town homes are still asking over $600K. It will be nice to see those start to go. One would think PB will falter prior to LaJolla taking the big hits.

Claremont Mesa, east of the 5 is already capituating….PB is next…then Lajolla / Point loma. Chula Vista is already dust…..just a matter of time.

Keep up the reporting, and if you have the time….can you add PB?? Only 6 sales, so it shouldnt be hard 🙂

Jasper

[Anonymous]

xbox

Yeah, that is great to see. Thanks for the posting. Ive been watching PB and it is just painful to see prices not dropping (much). Id imagine that it has alot to do with low sales volume.

In march 6 condos sold. Average during the bubble years was 30+ 3bed 1200 sq ft 4 attached town homes are still asking over $600K. It will be nice to see those start to go. One would think PB will falter prior to LaJolla taking the big hits.

Claremont Mesa, east of the 5 is already capituating….PB is next…then Lajolla / Point loma. Chula Vista is already dust…..just a matter of time.

Keep up the reporting, and if you have the time….can you add PB?? Only 6 sales, so it shouldnt be hard 🙂

Jasper

[Anonymous]

xbox

Yeah, that is great to see. Thanks for the posting. Ive been watching PB and it is just painful to see prices not dropping (much). Id imagine that it has alot to do with low sales volume.

In march 6 condos sold. Average during the bubble years was 30+ 3bed 1200 sq ft 4 attached town homes are still asking over $600K. It will be nice to see those start to go. One would think PB will falter prior to LaJolla taking the big hits.

Claremont Mesa, east of the 5 is already capituating….PB is next…then Lajolla / Point loma. Chula Vista is already dust…..just a matter of time.

Keep up the reporting, and if you have the time….can you add PB?? Only 6 sales, so it shouldnt be hard 🙂

Jasper

[Anonymous]

xbox

Yeah, that is great to see. Thanks for the posting. Ive been watching PB and it is just painful to see prices not dropping (much). Id imagine that it has alot to do with low sales volume.

In march 6 condos sold. Average during the bubble years was 30+ 3bed 1200 sq ft 4 attached town homes are still asking over $600K. It will be nice to see those start to go. One would think PB will falter prior to LaJolla taking the big hits.

Claremont Mesa, east of the 5 is already capituating….PB is next…then Lajolla / Point loma. Chula Vista is already dust…..just a matter of time.

Keep up the reporting, and if you have the time….can you add PB?? Only 6 sales, so it shouldnt be hard 🙂

Jasper

[Anonymous]

xbox

Yeah, that is great to see. Thanks for the posting. Ive been watching PB and it is just painful to see prices not dropping (much). Id imagine that it has alot to do with low sales volume.

In march 6 condos sold. Average during the bubble years was 30+ 3bed 1200 sq ft 4 attached town homes are still asking over $600K. It will be nice to see those start to go. One would think PB will falter prior to LaJolla taking the big hits.

Claremont Mesa, east of the 5 is already capituating….PB is next…then Lajolla / Point loma. Chula Vista is already dust…..just a matter of time.

Keep up the reporting, and if you have the time….can you add PB?? Only 6 sales, so it shouldnt be hard 🙂

Jasper

[Anonymous]

I don’t think you can really include UTC as La Jolla. They are separate communities.

[Anonymous]

I don’t think you can really include UTC as La Jolla. They are separate communities.

[Anonymous]

I don’t think you can really include UTC as La Jolla. They are separate communities.

[Anonymous]

I don’t think you can really include UTC as La Jolla. They are separate communities.

[Author]

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