Price per square foot

[Ren]

I’ve been watching Carlsbad/La Costa for many years, and while I don’t have the experience that you folks do, it seems obvious that while that area will always command a premium over inland areas, homes there will see very nearly as big a decline, if not just as big, percentage-wise. In the late 90’s, 2-3k sq ft homes in nice neighborhoods were going for $300-400k, and I just can’t see any reason why they won’t end up at $400-500k. It will just take a few more years. The coast always echoed inland price drops in the past, and I find the same reasons for well-off people relocating there also existed when prices weren’t exorbitant.

[sdrealtor]

Ren,
In the late 90’s they were going for 400K new with basically no upgrades or landscaping. I know as I bought one. To get the house livable (paint, flooring, appliances, window treatments and landscaping) too you to about 475K new for a decent home. These were sold just off the bottom of the last cycle. I just cant see any reason why they would end up between 400 and 500K. I know numerous people with means to buy regardless of rates, income etc. The have strong assets, recession proof careers and are waiting for the right house at a decent price (within 10% of current levels up or down). If I know a dozen there’s gotta be alot more than that out there.

[sdrealtor]

Ren,
In the late 90’s they were going for 400K new with basically no upgrades or landscaping. I know as I bought one. To get the house livable (paint, flooring, appliances, window treatments and landscaping) too you to about 475K new for a decent home. These were sold just off the bottom of the last cycle. I just cant see any reason why they would end up between 400 and 500K. I know numerous people with means to buy regardless of rates, income etc. The have strong assets, recession proof careers and are waiting for the right house at a decent price (within 10% of current levels up or down). If I know a dozen there’s gotta be alot more than that out there.

[sdrealtor]

Ren,
In the late 90’s they were going for 400K new with basically no upgrades or landscaping. I know as I bought one. To get the house livable (paint, flooring, appliances, window treatments and landscaping) too you to about 475K new for a decent home. These were sold just off the bottom of the last cycle. I just cant see any reason why they would end up between 400 and 500K. I know numerous people with means to buy regardless of rates, income etc. The have strong assets, recession proof careers and are waiting for the right house at a decent price (within 10% of current levels up or down). If I know a dozen there’s gotta be alot more than that out there.

[sdrealtor]

Ren,
In the late 90’s they were going for 400K new with basically no upgrades or landscaping. I know as I bought one. To get the house livable (paint, flooring, appliances, window treatments and landscaping) too you to about 475K new for a decent home. These were sold just off the bottom of the last cycle. I just cant see any reason why they would end up between 400 and 500K. I know numerous people with means to buy regardless of rates, income etc. The have strong assets, recession proof careers and are waiting for the right house at a decent price (within 10% of current levels up or down). If I know a dozen there’s gotta be alot more than that out there.

[sdrealtor]

Ren,
In the late 90’s they were going for 400K new with basically no upgrades or landscaping. I know as I bought one. To get the house livable (paint, flooring, appliances, window treatments and landscaping) too you to about 475K new for a decent home. These were sold just off the bottom of the last cycle. I just cant see any reason why they would end up between 400 and 500K. I know numerous people with means to buy regardless of rates, income etc. The have strong assets, recession proof careers and are waiting for the right house at a decent price (within 10% of current levels up or down). If I know a dozen there’s gotta be alot more than that out there.

[Ren]

I’m not saying that a $475k house will be going for $500k. What I’m saying is that I’ve been watching the market there since pre-bubble (it’s where I plan to retire), and for the past year I’ve been looking on Redfin every few weeks and looking at the sales history. The houses that went for $300-400k (the range I’m looking at) in the late 90’s were going for $900+ at the peak, and they’re going for $700-800k now.

At the peak, there were plenty of people willing to pay $900k+, but that didn’t stop prices from dropping since then. I realize there are plenty of people willing to pay $700k now, but that still won’t stop prices from dropping even further, like to $500k, because the downward pressure far exceeds any perceived desirability keeping prices inflated (a desirability which hasn’t changed since the late 90’s). That kind of price change is entirely within reason considering the size of the bubble, it would match past trends, and still leave a significant premium over inland property. That’s my informed opinion, but I guess we’ll have to wait a few years to see who’s right 🙂

The bubble popped in places like Temecula. It’s slowly deflating on the coast.

[Ren]

I’m not saying that a $475k house will be going for $500k. What I’m saying is that I’ve been watching the market there since pre-bubble (it’s where I plan to retire), and for the past year I’ve been looking on Redfin every few weeks and looking at the sales history. The houses that went for $300-400k (the range I’m looking at) in the late 90’s were going for $900+ at the peak, and they’re going for $700-800k now.

At the peak, there were plenty of people willing to pay $900k+, but that didn’t stop prices from dropping since then. I realize there are plenty of people willing to pay $700k now, but that still won’t stop prices from dropping even further, like to $500k, because the downward pressure far exceeds any perceived desirability keeping prices inflated (a desirability which hasn’t changed since the late 90’s). That kind of price change is entirely within reason considering the size of the bubble, it would match past trends, and still leave a significant premium over inland property. That’s my informed opinion, but I guess we’ll have to wait a few years to see who’s right 🙂

The bubble popped in places like Temecula. It’s slowly deflating on the coast.

[Ren]

I’m not saying that a $475k house will be going for $500k. What I’m saying is that I’ve been watching the market there since pre-bubble (it’s where I plan to retire), and for the past year I’ve been looking on Redfin every few weeks and looking at the sales history. The houses that went for $300-400k (the range I’m looking at) in the late 90’s were going for $900+ at the peak, and they’re going for $700-800k now.

At the peak, there were plenty of people willing to pay $900k+, but that didn’t stop prices from dropping since then. I realize there are plenty of people willing to pay $700k now, but that still won’t stop prices from dropping even further, like to $500k, because the downward pressure far exceeds any perceived desirability keeping prices inflated (a desirability which hasn’t changed since the late 90’s). That kind of price change is entirely within reason considering the size of the bubble, it would match past trends, and still leave a significant premium over inland property. That’s my informed opinion, but I guess we’ll have to wait a few years to see who’s right 🙂

The bubble popped in places like Temecula. It’s slowly deflating on the coast.

[Ren]

I’m not saying that a $475k house will be going for $500k. What I’m saying is that I’ve been watching the market there since pre-bubble (it’s where I plan to retire), and for the past year I’ve been looking on Redfin every few weeks and looking at the sales history. The houses that went for $300-400k (the range I’m looking at) in the late 90’s were going for $900+ at the peak, and they’re going for $700-800k now.

At the peak, there were plenty of people willing to pay $900k+, but that didn’t stop prices from dropping since then. I realize there are plenty of people willing to pay $700k now, but that still won’t stop prices from dropping even further, like to $500k, because the downward pressure far exceeds any perceived desirability keeping prices inflated (a desirability which hasn’t changed since the late 90’s). That kind of price change is entirely within reason considering the size of the bubble, it would match past trends, and still leave a significant premium over inland property. That’s my informed opinion, but I guess we’ll have to wait a few years to see who’s right 🙂

The bubble popped in places like Temecula. It’s slowly deflating on the coast.

[Ren]

I’m not saying that a $475k house will be going for $500k. What I’m saying is that I’ve been watching the market there since pre-bubble (it’s where I plan to retire), and for the past year I’ve been looking on Redfin every few weeks and looking at the sales history. The houses that went for $300-400k (the range I’m looking at) in the late 90’s were going for $900+ at the peak, and they’re going for $700-800k now.

At the peak, there were plenty of people willing to pay $900k+, but that didn’t stop prices from dropping since then. I realize there are plenty of people willing to pay $700k now, but that still won’t stop prices from dropping even further, like to $500k, because the downward pressure far exceeds any perceived desirability keeping prices inflated (a desirability which hasn’t changed since the late 90’s). That kind of price change is entirely within reason considering the size of the bubble, it would match past trends, and still leave a significant premium over inland property. That’s my informed opinion, but I guess we’ll have to wait a few years to see who’s right 🙂

The bubble popped in places like Temecula. It’s slowly deflating on the coast.

[Coronita]

I’m just curious. Do people really think things are going to around $500k (fairly close to late 90ies?). I mean, $500k today isn’t exactly the same purchasing power as $400k in the 90’ies.

I mean, seriously, with the dollar so hammered, from an external view, how much has the U.S. dollar fallen since the late 90ies?

[Coronita]

I’m just curious. Do people really think things are going to around $500k (fairly close to late 90ies?). I mean, $500k today isn’t exactly the same purchasing power as $400k in the 90’ies.

I mean, seriously, with the dollar so hammered, from an external view, how much has the U.S. dollar fallen since the late 90ies?

[Coronita]

I’m just curious. Do people really think things are going to around $500k (fairly close to late 90ies?). I mean, $500k today isn’t exactly the same purchasing power as $400k in the 90’ies.

I mean, seriously, with the dollar so hammered, from an external view, how much has the U.S. dollar fallen since the late 90ies?

[Coronita]

I’m just curious. Do people really think things are going to around $500k (fairly close to late 90ies?). I mean, $500k today isn’t exactly the same purchasing power as $400k in the 90’ies.

I mean, seriously, with the dollar so hammered, from an external view, how much has the U.S. dollar fallen since the late 90ies?

[Author]

Posts