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February 19, 2007 at 1:54 PM in reply to: California Coastal Housing Market Will Not Collapse #45770
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ParticipantLostCat, since you sat in the Caltran meeting and mentioned freeway expansion, can you give us more details? Since alot more houses are being build between the 56 & 78 and 5 & 15, is there any plan for a freeway in the middle?
ParticipantLink doesn’t work.
ParticipantGood homes sell in all markets little lady.If you’re priced right, it’ll sell.
I’d go as far as saying all homes sell in all markets if the price is right. There’s a price and a buyer for every home.
ParticipantThe only are that fit your description are older areas. I don’t remember seeing any new places that doesn’t have MR.
ParticipantYep, listing are trending down, but so is price.
ParticipantCall me when it’s $235K again.
That’s exactly what I was about to say too. I’d say 2002-2003 price would be a fair price for most places in SD once it hit the bottom.ParticipantIf you take 5% yearly appreciation into account, that 550-600 would be 990k-1080k today.
ParticipantTo me, this feels like a classic dead cat bounce. When you follow the information too closely, you’ll think these dead cat bounces are the bottom. Only hind site is 20/20. We’ll just have to wait and see but I expect the spring might bounce some more, recovering some of last fall’s loses. Then this fall, it’ll fall even further and resume the decline.
ParticipantI was also at Evergreen in 4S Ranch last Saturday. There was a steady flow of people. I talked to the sales lady and they had a new phase release that day and they have 2 plan 1 left. I had the price sheet form the last release and it seems like plan 3 price stayed the same. However, plan 1 now is 10-20k cheaper with bigger lot.
February 1, 2007 at 9:35 PM in reply to: January Sales look strong some places and not so strong others #44644Participantsdr, thanks again for the info. It seems like the area hurting the most are the area with new homes. Since builders are much more willing to be realistic to move inventory quickly.
January 31, 2007 at 11:40 PM in reply to: January Sales look strong some places and not so strong others #44577ParticipantSo, according to the stats, average price per sq-ft went down about 11% county wide and 10% in the La Costa South Carlsbad area. Seems like it’s what we’ve been expecting to see. sdr, can you give the stats for 92121, 92126, 92129, 92130 if you don’t mind. Thanks in advance.
January 31, 2007 at 5:21 PM in reply to: January Sales look strong some places and not so strong others #44555ParticipantWhat is your view of price changes in those two areas?
I concur. What’s the average/sq-ft and median/sq-ft price this year compare to 2006? That would give a much better pictures. If the price drops, that mean sellers are getting more realistic and buyers are snapping up what perceived to be deals. If the price rises, then I guess those area are immune to the decline so far. That might confirm a theory that decline start w/ cheaper homes and move to more expensive homes.ParticipantWhat happened in the 90s stays in the 90s.
Oh, that’s right, it’s different this time. Up up and away. Better buy now or I’ll be priced out forever.Ahem, you may wish to educate yourself. A member of the California Correctional Officer Union (31,000 of them, guards, probation officers, have an average base pay of $65,000, with overtime, 1 in 5 makes over $100,000.
The San Dieguito School District that serves La Costa has an average teacher salary of $68,000.
A government worker family of a teacher and correctional officer will have a family incomee above $133,000 and possibly over $168,000.
At today’s interest rates being near historical lows, that government worker family can afford that La Costa home.
Fire, Police, city workers, all of their union contracts are equally out of whack.
Wow, I didn’t know teachers make that much. $68k for 9 months of work = $91k/year if they work a full 12 months. Is that a fresh out of college salary?ParticipantLostCat, tell that to the people who bought in 1988-1990. I’ll rent as long as it’s cheaper to do so. While you’re stuck in a box, I get to live in a million dollar house for the cost of buying a box, invest the difference and retire long before I see 80.
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