Upper MId to Lower High End Market in NCC

[sdrealtor]

Pem
What I see bears out with your comment that 1988 was not peak and that it was 1990 around here (NCC) also. The interesting think about this house is that it is pretty perfectly preserved in 1988 style without noticeable updates/upgrades. It is as if someone took a new home built in 1988 and sealed it in a time capsule. That is what got me thinking that it was a good test case for where we are in the market.

[sdrealtor]

CAR
I beleive you are off, way off on both of your dates. Prices rose until 1990 and in 1999 I sold a property in 92024 for a price far beyond prior peak levels. It was sold at an average price for the area which substantiates prices recovering well before 2000. It was nothing special, just an average encinitas townhome.

update: Just did some poking around tax records. It looks like prices took a big jump starting in 1988 and through 1990 in 92024. Looks like they had recovered by late 96/early 97.

[sdrealtor]

CAR
I beleive you are off, way off on both of your dates. Prices rose until 1990 and in 1999 I sold a property in 92024 for a price far beyond prior peak levels. It was sold at an average price for the area which substantiates prices recovering well before 2000. It was nothing special, just an average encinitas townhome.

update: Just did some poking around tax records. It looks like prices took a big jump starting in 1988 and through 1990 in 92024. Looks like they had recovered by late 96/early 97.

[sdrealtor]

CAR
I beleive you are off, way off on both of your dates. Prices rose until 1990 and in 1999 I sold a property in 92024 for a price far beyond prior peak levels. It was sold at an average price for the area which substantiates prices recovering well before 2000. It was nothing special, just an average encinitas townhome.

update: Just did some poking around tax records. It looks like prices took a big jump starting in 1988 and through 1990 in 92024. Looks like they had recovered by late 96/early 97.

[sdrealtor]

CAR
I beleive you are off, way off on both of your dates. Prices rose until 1990 and in 1999 I sold a property in 92024 for a price far beyond prior peak levels. It was sold at an average price for the area which substantiates prices recovering well before 2000. It was nothing special, just an average encinitas townhome.

update: Just did some poking around tax records. It looks like prices took a big jump starting in 1988 and through 1990 in 92024. Looks like they had recovered by late 96/early 97.

[sdrealtor]

CAR
I beleive you are off, way off on both of your dates. Prices rose until 1990 and in 1999 I sold a property in 92024 for a price far beyond prior peak levels. It was sold at an average price for the area which substantiates prices recovering well before 2000. It was nothing special, just an average encinitas townhome.

update: Just did some poking around tax records. It looks like prices took a big jump starting in 1988 and through 1990 in 92024. Looks like they had recovered by late 96/early 97.

[sdrealtor]

nj
I think we would both agree that Detroit is an outlier and perhaps the area hardest hit by urban decay. Certainly not a good yardstick to compare a place like that that has declined incredibly with an area that has improved so much.

Based upon the CPI figures you quoted it sounds like the house still has potential downside if it sells for the asking price(10% max).

OK, more information. The house is in 92024 which has grown in desiareability over the last 22 years. That should be reflected in incomes with wealthier folks migrating in as well as increasing wages for all longtime residents. Anyone able to dig up median HH income in 92024 in 1988 and 2010.

[sdrealtor]

nj
I think we would both agree that Detroit is an outlier and perhaps the area hardest hit by urban decay. Certainly not a good yardstick to compare a place like that that has declined incredibly with an area that has improved so much.

Based upon the CPI figures you quoted it sounds like the house still has potential downside if it sells for the asking price(10% max).

OK, more information. The house is in 92024 which has grown in desiareability over the last 22 years. That should be reflected in incomes with wealthier folks migrating in as well as increasing wages for all longtime residents. Anyone able to dig up median HH income in 92024 in 1988 and 2010.

[sdrealtor]

nj
I think we would both agree that Detroit is an outlier and perhaps the area hardest hit by urban decay. Certainly not a good yardstick to compare a place like that that has declined incredibly with an area that has improved so much.

Based upon the CPI figures you quoted it sounds like the house still has potential downside if it sells for the asking price(10% max).

OK, more information. The house is in 92024 which has grown in desiareability over the last 22 years. That should be reflected in incomes with wealthier folks migrating in as well as increasing wages for all longtime residents. Anyone able to dig up median HH income in 92024 in 1988 and 2010.

[sdrealtor]

nj
I think we would both agree that Detroit is an outlier and perhaps the area hardest hit by urban decay. Certainly not a good yardstick to compare a place like that that has declined incredibly with an area that has improved so much.

Based upon the CPI figures you quoted it sounds like the house still has potential downside if it sells for the asking price(10% max).

OK, more information. The house is in 92024 which has grown in desiareability over the last 22 years. That should be reflected in incomes with wealthier folks migrating in as well as increasing wages for all longtime residents. Anyone able to dig up median HH income in 92024 in 1988 and 2010.

[sdrealtor]

nj
I think we would both agree that Detroit is an outlier and perhaps the area hardest hit by urban decay. Certainly not a good yardstick to compare a place like that that has declined incredibly with an area that has improved so much.

Based upon the CPI figures you quoted it sounds like the house still has potential downside if it sells for the asking price(10% max).

OK, more information. The house is in 92024 which has grown in desiareability over the last 22 years. That should be reflected in incomes with wealthier folks migrating in as well as increasing wages for all longtime residents. Anyone able to dig up median HH income in 92024 in 1988 and 2010.

[njtosd]

[quote=sdrealtor]nj
I think we would both agree that Detroit is an outlier and perhaps the area hardest hit by urban decay. Certainly not a good yardstick to compare a place like that that has declined incredibly with an area that has improved so much.

Based upon the CPI figures you quoted it sounds like the house still has potential downside if it sells for the asking price(10% max).

OK, more information. The house is in 92024 which has grown in desiareability over the last 22 years. That should be reflected in incomes with wealthier folks migrating in as well as increasing wages for all longtime residents. Anyone able to dig up median HH income in 92024 in 1988 and 2010.[/quote]

Regarding Detroit – just using it as an extreme example to illustrate a point. Median HH income for 92024 in 1988 was about $32.400; in 2008 (most recent I could find) in was about $82,200. If you want to take into account the CPI, it seems the adjusted median HH income has increased about 50%.

[njtosd]

[quote=sdrealtor]nj
I think we would both agree that Detroit is an outlier and perhaps the area hardest hit by urban decay. Certainly not a good yardstick to compare a place like that that has declined incredibly with an area that has improved so much.

Based upon the CPI figures you quoted it sounds like the house still has potential downside if it sells for the asking price(10% max).

OK, more information. The house is in 92024 which has grown in desiareability over the last 22 years. That should be reflected in incomes with wealthier folks migrating in as well as increasing wages for all longtime residents. Anyone able to dig up median HH income in 92024 in 1988 and 2010.[/quote]

Regarding Detroit – just using it as an extreme example to illustrate a point. Median HH income for 92024 in 1988 was about $32.400; in 2008 (most recent I could find) in was about $82,200. If you want to take into account the CPI, it seems the adjusted median HH income has increased about 50%.

[njtosd]

[quote=sdrealtor]nj
I think we would both agree that Detroit is an outlier and perhaps the area hardest hit by urban decay. Certainly not a good yardstick to compare a place like that that has declined incredibly with an area that has improved so much.

Based upon the CPI figures you quoted it sounds like the house still has potential downside if it sells for the asking price(10% max).

OK, more information. The house is in 92024 which has grown in desiareability over the last 22 years. That should be reflected in incomes with wealthier folks migrating in as well as increasing wages for all longtime residents. Anyone able to dig up median HH income in 92024 in 1988 and 2010.[/quote]

Regarding Detroit – just using it as an extreme example to illustrate a point. Median HH income for 92024 in 1988 was about $32.400; in 2008 (most recent I could find) in was about $82,200. If you want to take into account the CPI, it seems the adjusted median HH income has increased about 50%.

[njtosd]

[quote=sdrealtor]nj
I think we would both agree that Detroit is an outlier and perhaps the area hardest hit by urban decay. Certainly not a good yardstick to compare a place like that that has declined incredibly with an area that has improved so much.

Based upon the CPI figures you quoted it sounds like the house still has potential downside if it sells for the asking price(10% max).

OK, more information. The house is in 92024 which has grown in desiareability over the last 22 years. That should be reflected in incomes with wealthier folks migrating in as well as increasing wages for all longtime residents. Anyone able to dig up median HH income in 92024 in 1988 and 2010.[/quote]

Regarding Detroit – just using it as an extreme example to illustrate a point. Median HH income for 92024 in 1988 was about $32.400; in 2008 (most recent I could find) in was about $82,200. If you want to take into account the CPI, it seems the adjusted median HH income has increased about 50%.

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