I hope you’re right. But, unfortunately for me (sitting on cash and waiting to buy in Carmel Valley), the question isn’t, “how many sane individuals would actually purchase one of these homes.” Sane, apparently, has nothing to do with it.
The S Calf housing market today represents the most overpriced and inflated prices ever in the history of a U.S. housing market.
I’d agree if you said, “the Socal housing market of two years ago represents…” Things have changed a lot since then. So I’d say the popcorn’s in the oil. But in CV, the heat’s pretty low. There are lots of people buying here at prices not far from the peak. The popping of low-priced kernels is increasing in frequency, though. So while I think the oil is starting to heat up, I do agree with you that, for Carmel Valley, the real pain is a ways off.
By the way, the house I’m talking about is 5427 Harvest Run Drive. Google that and you’ll see the house. I’m not sure why people put “54XX Harvest Run Drive when talking about houses, and I hope I haven’t made some kind of faux pas here. If somebody could explain to me what the deal is there, I’d appreciate it.
As far as fixing up your rental, I make minor repairs on mine all the time.
