So how bad is inventory in CarmelV?

[Coronita]

Really bad…

Of the 72 SFH listed,

*One isn’t a SFH, but was mis-listed..So there’s 71 really.

*Of that, 30 homes are $1.5million or higher.
*Of the 30 homes,
23 of them are $2million+
15 of them are $3million+
11 of them are $4million+
7 of them range from $5-9.4 million…

Of the remain 41 homes, 17 homes are below 1 million. 7 homes are marked as contingent.

Yup….it’s worse than 2004/2005 right now…

The bright side is that Mira Mesa is even worse….. :

Time to go to the beach and not think about it….

[spdrun]

Why don’t you enjoy your home where/as it is and look for rental property instead? Out of curiosity, where in SD do you live that you need to move right away?

[SK in CV]

I used to follow listings in CV pretty closely, never saw that many over $2M. And usually they were at Meadows or near there. And rarely more than one or two, now there’s 10+ off of San Dieguito. Doesn’t look like any of them are new, anyone have any idea what’s up with that? Sudden, or has that been going on for awhile now?

[flyer]

Yeah, flu, CV is crazy right now. We’ve even had some of our tenants tell us that people are knocking on the doors, asking if we’re willing to sell. It will be interesting to see if the pricing is sustainable this time, or just another “bubble.”

In the meantime, as you said, enjoy the beach (we were in DM today, and it was fantastic!) and everything else we’re so lucky to be able to enjoy here!!

[flyer]

This article was posted on another thread, and, after reading it, I think it bears repeating–with regard to some opinions concerning the future of real estate in CA.

There will always be diverse opinions, and only time will tell, but, it is conceivable that our market could continue to be a real challenge for a large percentage of new buyers going forward.

We always wanted our kids to have homes in San Diego–should they choose to live here now, or in the future–and that’s one reason we invested here. If the future brings challenges to younger buyers, we’ll probably be glad we did.

http://www.thenorrisgroup.com/blog/category/radio/

[CA renter]

Thanks for sharing that article, flyer. At least they are paying attention to the large influx of “investor” purchases and the potential problems WRT their disposition plans, and how better returns on other investments might move the RE market in the future.

[Author]

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