Poway

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Long time reader, long time bear and long time renter. I understand the dynamics occuring in the high and low ends of the real estate market. I also have a good bearing of what fair value is for most coastal markets and the 56 corridor. But I have never considered Poway as an option until recently. Because of the reasons stated earlier, I feel like I’m a neophyte again. This is a weird feeling given how much time I’ve invested in understanding the local (and national) R.E. market. I’ve been watching this bubble since 2002. Surprised at how long it lasted, and even more surprised at how long its taken to deflate, particularly in the areas you mention, since these are the areas of focus.

[Anonymous]

Hello Long time reader:

I also have been following this bubble and am amazed at what I see coming in 2010: Here’s my best guess-for what it’s worth.

All one has to do is look at the immense amount of high end inventory hitting the market in La Jolla, Rancho Santa Fe etc. These homes are the reason for the Median price increase. This is misleading. This huge amount of inventory will be dropping in price over the next year or so. This will pull down the entire San Diego housing market. Do not be fooled.

These are the people who treat their mortgages like a business deal and not a moral obligation. They will walk. Understanding this will save you hundreds of thousands. The cliff is approaching.
Good Luck

[Anonymous]

Hello Long time reader:

I also have been following this bubble and am amazed at what I see coming in 2010: Here’s my best guess-for what it’s worth.

All one has to do is look at the immense amount of high end inventory hitting the market in La Jolla, Rancho Santa Fe etc. These homes are the reason for the Median price increase. This is misleading. This huge amount of inventory will be dropping in price over the next year or so. This will pull down the entire San Diego housing market. Do not be fooled.

These are the people who treat their mortgages like a business deal and not a moral obligation. They will walk. Understanding this will save you hundreds of thousands. The cliff is approaching.
Good Luck

[Anonymous]

Hello Long time reader:

I also have been following this bubble and am amazed at what I see coming in 2010: Here’s my best guess-for what it’s worth.

All one has to do is look at the immense amount of high end inventory hitting the market in La Jolla, Rancho Santa Fe etc. These homes are the reason for the Median price increase. This is misleading. This huge amount of inventory will be dropping in price over the next year or so. This will pull down the entire San Diego housing market. Do not be fooled.

These are the people who treat their mortgages like a business deal and not a moral obligation. They will walk. Understanding this will save you hundreds of thousands. The cliff is approaching.
Good Luck

[Anonymous]

Hello Long time reader:

I also have been following this bubble and am amazed at what I see coming in 2010: Here’s my best guess-for what it’s worth.

All one has to do is look at the immense amount of high end inventory hitting the market in La Jolla, Rancho Santa Fe etc. These homes are the reason for the Median price increase. This is misleading. This huge amount of inventory will be dropping in price over the next year or so. This will pull down the entire San Diego housing market. Do not be fooled.

These are the people who treat their mortgages like a business deal and not a moral obligation. They will walk. Understanding this will save you hundreds of thousands. The cliff is approaching.
Good Luck

[Anonymous]

Hello Long time reader:

I also have been following this bubble and am amazed at what I see coming in 2010: Here’s my best guess-for what it’s worth.

All one has to do is look at the immense amount of high end inventory hitting the market in La Jolla, Rancho Santa Fe etc. These homes are the reason for the Median price increase. This is misleading. This huge amount of inventory will be dropping in price over the next year or so. This will pull down the entire San Diego housing market. Do not be fooled.

These are the people who treat their mortgages like a business deal and not a moral obligation. They will walk. Understanding this will save you hundreds of thousands. The cliff is approaching.
Good Luck

[temeculaguy]

Since you used the pharase “56 corridor” it’s obvious you’ve done some homework. Looks like you need neighborhood analysis, which I cannot provide. My sister lives there, she’s picky as hell and one of those overly involved pta moms, and she loves it there. To be honest, i’m not sure if it’s in Poway proper, it’s off scripps poway parkway, thats a bit of a border region and i never pay attention to signs, but I know it’s in the poway school district, and for a lot of folks, that’s all that really matters.

[temeculaguy]

Since you used the pharase “56 corridor” it’s obvious you’ve done some homework. Looks like you need neighborhood analysis, which I cannot provide. My sister lives there, she’s picky as hell and one of those overly involved pta moms, and she loves it there. To be honest, i’m not sure if it’s in Poway proper, it’s off scripps poway parkway, thats a bit of a border region and i never pay attention to signs, but I know it’s in the poway school district, and for a lot of folks, that’s all that really matters.

[temeculaguy]

Since you used the pharase “56 corridor” it’s obvious you’ve done some homework. Looks like you need neighborhood analysis, which I cannot provide. My sister lives there, she’s picky as hell and one of those overly involved pta moms, and she loves it there. To be honest, i’m not sure if it’s in Poway proper, it’s off scripps poway parkway, thats a bit of a border region and i never pay attention to signs, but I know it’s in the poway school district, and for a lot of folks, that’s all that really matters.

[temeculaguy]

Since you used the pharase “56 corridor” it’s obvious you’ve done some homework. Looks like you need neighborhood analysis, which I cannot provide. My sister lives there, she’s picky as hell and one of those overly involved pta moms, and she loves it there. To be honest, i’m not sure if it’s in Poway proper, it’s off scripps poway parkway, thats a bit of a border region and i never pay attention to signs, but I know it’s in the poway school district, and for a lot of folks, that’s all that really matters.

[temeculaguy]

Since you used the pharase “56 corridor” it’s obvious you’ve done some homework. Looks like you need neighborhood analysis, which I cannot provide. My sister lives there, she’s picky as hell and one of those overly involved pta moms, and she loves it there. To be honest, i’m not sure if it’s in Poway proper, it’s off scripps poway parkway, thats a bit of a border region and i never pay attention to signs, but I know it’s in the poway school district, and for a lot of folks, that’s all that really matters.

[temeculaguy]

kobio, seriously you need to cite a little data about volume before making an assertion like that. There are like 2k total homes in RSF, La Jolla is not that big, there are condo complexes in this county with as many units as RSF has homesites, you really think that is responsible for pulling up the median? RSF doesn’t have that much turnover, somebody else can probably provide the numbers and there may be something to the theory that the high end is pulling up the median but not in those examples, the old money isn’t crumbling yet.

[temeculaguy]

kobio, seriously you need to cite a little data about volume before making an assertion like that. There are like 2k total homes in RSF, La Jolla is not that big, there are condo complexes in this county with as many units as RSF has homesites, you really think that is responsible for pulling up the median? RSF doesn’t have that much turnover, somebody else can probably provide the numbers and there may be something to the theory that the high end is pulling up the median but not in those examples, the old money isn’t crumbling yet.

[temeculaguy]

kobio, seriously you need to cite a little data about volume before making an assertion like that. There are like 2k total homes in RSF, La Jolla is not that big, there are condo complexes in this county with as many units as RSF has homesites, you really think that is responsible for pulling up the median? RSF doesn’t have that much turnover, somebody else can probably provide the numbers and there may be something to the theory that the high end is pulling up the median but not in those examples, the old money isn’t crumbling yet.

[temeculaguy]

kobio, seriously you need to cite a little data about volume before making an assertion like that. There are like 2k total homes in RSF, La Jolla is not that big, there are condo complexes in this county with as many units as RSF has homesites, you really think that is responsible for pulling up the median? RSF doesn’t have that much turnover, somebody else can probably provide the numbers and there may be something to the theory that the high end is pulling up the median but not in those examples, the old money isn’t crumbling yet.

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