Pain in La Jolla

[Anonymous]

I wouldn’t say immune, but there are quite a few European buyers that would like to have a nice house by the sea in beautiful ‘Diego. So, as rough as a %14 loss is, its smaller than in some areas, no?

The Euro Buyers are not looking in Lowell, Massachusetts, I mean.

[quote=XBoxBoy]Sold 11/26/2008 for $3,850,000
Sold 06/12/2007 for $4,500,000

That’s $650,000 (14%) loss in less than a year and a half. So much for the coast being immune.

http://www.sdlookup.com/Property-31E33BA6-1055_Muirlands_Vista_Way_La_Jolla_CA_92037
[/quote]

[XBoxBoy]

[quote=reddgreen]I wouldn’t say immune, but there are quite a few European buyers that would like to have a nice house by the sea in beautiful ‘Diego
[/quote]

Reddgreen, I keep hearing about foreign buyers, but I don’t see the sales stats to support it. Inventory for LJ (at least in houses) is way higher than it was a year ago and sales are way down. While this thread is meant to show that prices are down even along the coast I would definitely agree that they are not down like they are in Temecula or Inland Empire.

I think everyone forgets that foreigners have a huge number of choices, not just La Jolla. Del Mar, Coronado, Rancho Santa Fe, to name only a few locally, but there are considerably more when you expand to the whole USA. (Like Cape Cod, or Martha’s Vineyard, or Nags Head, or Carmel, or Santa Barbara and Montecito or go into the mountains and cities and there are even more choices) Conversely, there are only so many ultra rich foreigners buying trophy houses in the USA these days, and with the rising dollar it makes it all the less affordable for them.

XBoxBoy

[XBoxBoy]

[quote=reddgreen]I wouldn’t say immune, but there are quite a few European buyers that would like to have a nice house by the sea in beautiful ‘Diego
[/quote]

Reddgreen, I keep hearing about foreign buyers, but I don’t see the sales stats to support it. Inventory for LJ (at least in houses) is way higher than it was a year ago and sales are way down. While this thread is meant to show that prices are down even along the coast I would definitely agree that they are not down like they are in Temecula or Inland Empire.

I think everyone forgets that foreigners have a huge number of choices, not just La Jolla. Del Mar, Coronado, Rancho Santa Fe, to name only a few locally, but there are considerably more when you expand to the whole USA. (Like Cape Cod, or Martha’s Vineyard, or Nags Head, or Carmel, or Santa Barbara and Montecito or go into the mountains and cities and there are even more choices) Conversely, there are only so many ultra rich foreigners buying trophy houses in the USA these days, and with the rising dollar it makes it all the less affordable for them.

XBoxBoy

[XBoxBoy]

[quote=reddgreen]I wouldn’t say immune, but there are quite a few European buyers that would like to have a nice house by the sea in beautiful ‘Diego
[/quote]

Reddgreen, I keep hearing about foreign buyers, but I don’t see the sales stats to support it. Inventory for LJ (at least in houses) is way higher than it was a year ago and sales are way down. While this thread is meant to show that prices are down even along the coast I would definitely agree that they are not down like they are in Temecula or Inland Empire.

I think everyone forgets that foreigners have a huge number of choices, not just La Jolla. Del Mar, Coronado, Rancho Santa Fe, to name only a few locally, but there are considerably more when you expand to the whole USA. (Like Cape Cod, or Martha’s Vineyard, or Nags Head, or Carmel, or Santa Barbara and Montecito or go into the mountains and cities and there are even more choices) Conversely, there are only so many ultra rich foreigners buying trophy houses in the USA these days, and with the rising dollar it makes it all the less affordable for them.

XBoxBoy

[XBoxBoy]

[quote=reddgreen]I wouldn’t say immune, but there are quite a few European buyers that would like to have a nice house by the sea in beautiful ‘Diego
[/quote]

Reddgreen, I keep hearing about foreign buyers, but I don’t see the sales stats to support it. Inventory for LJ (at least in houses) is way higher than it was a year ago and sales are way down. While this thread is meant to show that prices are down even along the coast I would definitely agree that they are not down like they are in Temecula or Inland Empire.

I think everyone forgets that foreigners have a huge number of choices, not just La Jolla. Del Mar, Coronado, Rancho Santa Fe, to name only a few locally, but there are considerably more when you expand to the whole USA. (Like Cape Cod, or Martha’s Vineyard, or Nags Head, or Carmel, or Santa Barbara and Montecito or go into the mountains and cities and there are even more choices) Conversely, there are only so many ultra rich foreigners buying trophy houses in the USA these days, and with the rising dollar it makes it all the less affordable for them.

XBoxBoy

[XBoxBoy]

[quote=reddgreen]I wouldn’t say immune, but there are quite a few European buyers that would like to have a nice house by the sea in beautiful ‘Diego
[/quote]

Reddgreen, I keep hearing about foreign buyers, but I don’t see the sales stats to support it. Inventory for LJ (at least in houses) is way higher than it was a year ago and sales are way down. While this thread is meant to show that prices are down even along the coast I would definitely agree that they are not down like they are in Temecula or Inland Empire.

I think everyone forgets that foreigners have a huge number of choices, not just La Jolla. Del Mar, Coronado, Rancho Santa Fe, to name only a few locally, but there are considerably more when you expand to the whole USA. (Like Cape Cod, or Martha’s Vineyard, or Nags Head, or Carmel, or Santa Barbara and Montecito or go into the mountains and cities and there are even more choices) Conversely, there are only so many ultra rich foreigners buying trophy houses in the USA these days, and with the rising dollar it makes it all the less affordable for them.

XBoxBoy

[Anonymous]

agreed. i spend a lot of time working with wealthy europeans. they are being hit at home by the same issues hitting wealthy americans–have any of you looked at high end london real estate lately? correcting faster than nyc and any other high end area in the us…it is cheaper to shop in london than in the us now…

anyway, combined with the weakening euro and pound, the last thing any european wants to do is buy a home all the way out in san diego which is a very long flight (florida, hamptons, etc all much closer) plus very few fellow europeans and the amenities they prefer (eg restaurants, arts, etc, if they do buy in ca would probably buy in la or bay area first).

[Anonymous]

agreed. i spend a lot of time working with wealthy europeans. they are being hit at home by the same issues hitting wealthy americans–have any of you looked at high end london real estate lately? correcting faster than nyc and any other high end area in the us…it is cheaper to shop in london than in the us now…

anyway, combined with the weakening euro and pound, the last thing any european wants to do is buy a home all the way out in san diego which is a very long flight (florida, hamptons, etc all much closer) plus very few fellow europeans and the amenities they prefer (eg restaurants, arts, etc, if they do buy in ca would probably buy in la or bay area first).

[Anonymous]

agreed. i spend a lot of time working with wealthy europeans. they are being hit at home by the same issues hitting wealthy americans–have any of you looked at high end london real estate lately? correcting faster than nyc and any other high end area in the us…it is cheaper to shop in london than in the us now…

anyway, combined with the weakening euro and pound, the last thing any european wants to do is buy a home all the way out in san diego which is a very long flight (florida, hamptons, etc all much closer) plus very few fellow europeans and the amenities they prefer (eg restaurants, arts, etc, if they do buy in ca would probably buy in la or bay area first).

[Anonymous]

agreed. i spend a lot of time working with wealthy europeans. they are being hit at home by the same issues hitting wealthy americans–have any of you looked at high end london real estate lately? correcting faster than nyc and any other high end area in the us…it is cheaper to shop in london than in the us now…

anyway, combined with the weakening euro and pound, the last thing any european wants to do is buy a home all the way out in san diego which is a very long flight (florida, hamptons, etc all much closer) plus very few fellow europeans and the amenities they prefer (eg restaurants, arts, etc, if they do buy in ca would probably buy in la or bay area first).

[Anonymous]

agreed. i spend a lot of time working with wealthy europeans. they are being hit at home by the same issues hitting wealthy americans–have any of you looked at high end london real estate lately? correcting faster than nyc and any other high end area in the us…it is cheaper to shop in london than in the us now…

anyway, combined with the weakening euro and pound, the last thing any european wants to do is buy a home all the way out in san diego which is a very long flight (florida, hamptons, etc all much closer) plus very few fellow europeans and the amenities they prefer (eg restaurants, arts, etc, if they do buy in ca would probably buy in la or bay area first).

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