Pain in La Jolla

[jpinpb]

Let’s see. We can all agree there is a spring bounce. I just w/in the past few months, seen 2 SFH, zoned MULTI sell in the 700k range. One was in turnkey on Diamond and one in the 700 block of Sapphire. If we take into consideration the defaults and foreclosures and inventory and impending inventory, the declining condos and townhomes, the unemployment figures, what to you think the price of the homes will be year-end or next year?

Again, I would not be surprised that the SFH end up going for 550k-600k by the time this is all said and done, easily.

[La Jolla Renter]

awombadavis,

Point taken. I am impressed with how well PB has held up.

Just to be clear, I’m not on record as saying a nice house will go for 300k in PB, but even 500k would be way off the peak from an area that was supposed to be immune.

My hunch is that some of the young families with 2 kids that bought a 650k 1400sqft condo with a 2 car tandem garage had planned on selling a couple years later for 850k+ and moving up into the La Jolla school district. When their neighbor goes into foreclosure and is picked up by an investor for 350k – 450k, their plans will be ruined. Walk away or put up with with the new next door renters… affluent SDSU students doing 2 story beer bongs.

Just to be clear, I like PB. I just think it is a bit over priced for what you get. Run out all the riffraff, and I’d move back.

[La Jolla Renter]

awombadavis,

Point taken. I am impressed with how well PB has held up.

Just to be clear, I’m not on record as saying a nice house will go for 300k in PB, but even 500k would be way off the peak from an area that was supposed to be immune.

My hunch is that some of the young families with 2 kids that bought a 650k 1400sqft condo with a 2 car tandem garage had planned on selling a couple years later for 850k+ and moving up into the La Jolla school district. When their neighbor goes into foreclosure and is picked up by an investor for 350k – 450k, their plans will be ruined. Walk away or put up with with the new next door renters… affluent SDSU students doing 2 story beer bongs.

Just to be clear, I like PB. I just think it is a bit over priced for what you get. Run out all the riffraff, and I’d move back.

[La Jolla Renter]

awombadavis,

Point taken. I am impressed with how well PB has held up.

Just to be clear, I’m not on record as saying a nice house will go for 300k in PB, but even 500k would be way off the peak from an area that was supposed to be immune.

My hunch is that some of the young families with 2 kids that bought a 650k 1400sqft condo with a 2 car tandem garage had planned on selling a couple years later for 850k+ and moving up into the La Jolla school district. When their neighbor goes into foreclosure and is picked up by an investor for 350k – 450k, their plans will be ruined. Walk away or put up with with the new next door renters… affluent SDSU students doing 2 story beer bongs.

Just to be clear, I like PB. I just think it is a bit over priced for what you get. Run out all the riffraff, and I’d move back.

[La Jolla Renter]

awombadavis,

Point taken. I am impressed with how well PB has held up.

Just to be clear, I’m not on record as saying a nice house will go for 300k in PB, but even 500k would be way off the peak from an area that was supposed to be immune.

My hunch is that some of the young families with 2 kids that bought a 650k 1400sqft condo with a 2 car tandem garage had planned on selling a couple years later for 850k+ and moving up into the La Jolla school district. When their neighbor goes into foreclosure and is picked up by an investor for 350k – 450k, their plans will be ruined. Walk away or put up with with the new next door renters… affluent SDSU students doing 2 story beer bongs.

Just to be clear, I like PB. I just think it is a bit over priced for what you get. Run out all the riffraff, and I’d move back.

[La Jolla Renter]

awombadavis,

Point taken. I am impressed with how well PB has held up.

Just to be clear, I’m not on record as saying a nice house will go for 300k in PB, but even 500k would be way off the peak from an area that was supposed to be immune.

My hunch is that some of the young families with 2 kids that bought a 650k 1400sqft condo with a 2 car tandem garage had planned on selling a couple years later for 850k+ and moving up into the La Jolla school district. When their neighbor goes into foreclosure and is picked up by an investor for 350k – 450k, their plans will be ruined. Walk away or put up with with the new next door renters… affluent SDSU students doing 2 story beer bongs.

Just to be clear, I like PB. I just think it is a bit over priced for what you get. Run out all the riffraff, and I’d move back.

[gromit]

This is totally anecdotal, but I believe that (referring to awomba’s 600k townhome) represents a roughly $100k price drop from the peak. I remember that they were priced at approx $700k at one point (talking about the 3 br/ 3.5 bath variety like the one in awomba’s listing).

[gromit]

This is totally anecdotal, but I believe that (referring to awomba’s 600k townhome) represents a roughly $100k price drop from the peak. I remember that they were priced at approx $700k at one point (talking about the 3 br/ 3.5 bath variety like the one in awomba’s listing).

[gromit]

This is totally anecdotal, but I believe that (referring to awomba’s 600k townhome) represents a roughly $100k price drop from the peak. I remember that they were priced at approx $700k at one point (talking about the 3 br/ 3.5 bath variety like the one in awomba’s listing).

[gromit]

This is totally anecdotal, but I believe that (referring to awomba’s 600k townhome) represents a roughly $100k price drop from the peak. I remember that they were priced at approx $700k at one point (talking about the 3 br/ 3.5 bath variety like the one in awomba’s listing).

[gromit]

This is totally anecdotal, but I believe that (referring to awomba’s 600k townhome) represents a roughly $100k price drop from the peak. I remember that they were priced at approx $700k at one point (talking about the 3 br/ 3.5 bath variety like the one in awomba’s listing).

[jpinpb]

I remember seeing a fixer house on Law Street in 2000 selling for 450k. I offered 400k and they didn’t accept. That’s how I remember. The guy who bought it fixed it all up. Sold just before peak for 750k. If it came down to 550k, that’s a remarkable decline that I would say would be close to 2001 levels. And I just don’t think that it’s unreasonable. I believe it can happen. We are close. Takes time. Didn’t go up over night. Take a little while to go down.

[jpinpb]

I remember seeing a fixer house on Law Street in 2000 selling for 450k. I offered 400k and they didn’t accept. That’s how I remember. The guy who bought it fixed it all up. Sold just before peak for 750k. If it came down to 550k, that’s a remarkable decline that I would say would be close to 2001 levels. And I just don’t think that it’s unreasonable. I believe it can happen. We are close. Takes time. Didn’t go up over night. Take a little while to go down.

[jpinpb]

I remember seeing a fixer house on Law Street in 2000 selling for 450k. I offered 400k and they didn’t accept. That’s how I remember. The guy who bought it fixed it all up. Sold just before peak for 750k. If it came down to 550k, that’s a remarkable decline that I would say would be close to 2001 levels. And I just don’t think that it’s unreasonable. I believe it can happen. We are close. Takes time. Didn’t go up over night. Take a little while to go down.

[jpinpb]

I remember seeing a fixer house on Law Street in 2000 selling for 450k. I offered 400k and they didn’t accept. That’s how I remember. The guy who bought it fixed it all up. Sold just before peak for 750k. If it came down to 550k, that’s a remarkable decline that I would say would be close to 2001 levels. And I just don’t think that it’s unreasonable. I believe it can happen. We are close. Takes time. Didn’t go up over night. Take a little while to go down.

[Author]

Posts