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pemeliza
ParticipantI am not a realtor and so do not have access to the mls. However, the website propertyshark.com seems to be pretty darn good.
Here are the number of sales in 92024 (Encinitas) broken down per year: (The price, SF, PPSF columns are all medians).
Year Sales Price SF PPSF
2010 19 $575,000 1,567 $334
2009 575 $595,000 1,779 $330
2008 444 $680,000 1,830 $360
2007 508 $735,000 1,830 $388
2006 496 $748,000 1,830 $400
2005 561 $750,000 1,778 $421
2004 545 $680,000 1,834 $371
2003 624 $560,000 1,938 $295
2002 539 $500,000 2,008 $244
2001 425 $407,000 1,815 $230
2000 464 $396,000 1,938 $198
1999 568 $305,000 1,779 $176
1998 469 $270,000 1,792 $153
1997 371 $246,000 1,836 $136
1996 308 $234,000 1,877 $127
1995 217 $225,000 1,831 $122
1994 265 $225,000 1,867 $127
1993 246 $224,000 1,854 $121
1992 176 $250,000 1,888 $132
1991 142 $241,000 1,686 $135
1990 158 $270,000 1,832 $144
1989 180 $255,000 1,861 $134
1988 244 $212,000 1,901 $112I believe that this data points out two things:
1.) Sales volume during 2009 actually isn’t that much different than during the peak years.
2.) 92024 was ridiculously under-priced in the 90’s.
propertyshark.com is a free site (you have to register). An analysis could be performed on any zipcode.
One other note, one reason why the sales volume in 92024 may not have changed from the peak as much as some of the other zips is that the 92024 didn’t have as much land to build on as say 92009 … thus not as many new mega developments like La Costa Valley.
pemeliza
ParticipantI am not a realtor and so do not have access to the mls. However, the website propertyshark.com seems to be pretty darn good.
Here are the number of sales in 92024 (Encinitas) broken down per year: (The price, SF, PPSF columns are all medians).
Year Sales Price SF PPSF
2010 19 $575,000 1,567 $334
2009 575 $595,000 1,779 $330
2008 444 $680,000 1,830 $360
2007 508 $735,000 1,830 $388
2006 496 $748,000 1,830 $400
2005 561 $750,000 1,778 $421
2004 545 $680,000 1,834 $371
2003 624 $560,000 1,938 $295
2002 539 $500,000 2,008 $244
2001 425 $407,000 1,815 $230
2000 464 $396,000 1,938 $198
1999 568 $305,000 1,779 $176
1998 469 $270,000 1,792 $153
1997 371 $246,000 1,836 $136
1996 308 $234,000 1,877 $127
1995 217 $225,000 1,831 $122
1994 265 $225,000 1,867 $127
1993 246 $224,000 1,854 $121
1992 176 $250,000 1,888 $132
1991 142 $241,000 1,686 $135
1990 158 $270,000 1,832 $144
1989 180 $255,000 1,861 $134
1988 244 $212,000 1,901 $112I believe that this data points out two things:
1.) Sales volume during 2009 actually isn’t that much different than during the peak years.
2.) 92024 was ridiculously under-priced in the 90’s.
propertyshark.com is a free site (you have to register). An analysis could be performed on any zipcode.
One other note, one reason why the sales volume in 92024 may not have changed from the peak as much as some of the other zips is that the 92024 didn’t have as much land to build on as say 92009 … thus not as many new mega developments like La Costa Valley.
pemeliza
Participant“Encinitas proper has been less subject to this it would seem. What do those numbers look like?”
I am not sure what you mean by “Encinitas proper” but I can say that in the late 90’s you could buy Encinitas houses west of I-5 in the 200-300k range. Major appreciation there over the last decade.
“Remember that 1997/1998-2001 marked the beginning of the bubble. People were already standing in lines to buy houses in 1999/2000 here.”
That is a big reach CAR. Prices were dirt cheap in the 97/98 time frame. 5000+ sq. ft. houses on 1/2 acre lots in the “Ranch” were selling in the 600-700k range.
“There is only a finite coastal space. Those that want it pay.”
I think in the case of Enc./South Cbad there are 4 major factors contributing to the rareness/demand.
1.) Coastal Lifestyle
2.) Top Schools
3.) Newer housing stock and infrastructure.
4.) Location just within reach of Sorrento Valley.pemeliza
Participant“Encinitas proper has been less subject to this it would seem. What do those numbers look like?”
I am not sure what you mean by “Encinitas proper” but I can say that in the late 90’s you could buy Encinitas houses west of I-5 in the 200-300k range. Major appreciation there over the last decade.
“Remember that 1997/1998-2001 marked the beginning of the bubble. People were already standing in lines to buy houses in 1999/2000 here.”
That is a big reach CAR. Prices were dirt cheap in the 97/98 time frame. 5000+ sq. ft. houses on 1/2 acre lots in the “Ranch” were selling in the 600-700k range.
“There is only a finite coastal space. Those that want it pay.”
I think in the case of Enc./South Cbad there are 4 major factors contributing to the rareness/demand.
1.) Coastal Lifestyle
2.) Top Schools
3.) Newer housing stock and infrastructure.
4.) Location just within reach of Sorrento Valley.pemeliza
Participant“Encinitas proper has been less subject to this it would seem. What do those numbers look like?”
I am not sure what you mean by “Encinitas proper” but I can say that in the late 90’s you could buy Encinitas houses west of I-5 in the 200-300k range. Major appreciation there over the last decade.
“Remember that 1997/1998-2001 marked the beginning of the bubble. People were already standing in lines to buy houses in 1999/2000 here.”
That is a big reach CAR. Prices were dirt cheap in the 97/98 time frame. 5000+ sq. ft. houses on 1/2 acre lots in the “Ranch” were selling in the 600-700k range.
“There is only a finite coastal space. Those that want it pay.”
I think in the case of Enc./South Cbad there are 4 major factors contributing to the rareness/demand.
1.) Coastal Lifestyle
2.) Top Schools
3.) Newer housing stock and infrastructure.
4.) Location just within reach of Sorrento Valley.pemeliza
Participant“Encinitas proper has been less subject to this it would seem. What do those numbers look like?”
I am not sure what you mean by “Encinitas proper” but I can say that in the late 90’s you could buy Encinitas houses west of I-5 in the 200-300k range. Major appreciation there over the last decade.
“Remember that 1997/1998-2001 marked the beginning of the bubble. People were already standing in lines to buy houses in 1999/2000 here.”
That is a big reach CAR. Prices were dirt cheap in the 97/98 time frame. 5000+ sq. ft. houses on 1/2 acre lots in the “Ranch” were selling in the 600-700k range.
“There is only a finite coastal space. Those that want it pay.”
I think in the case of Enc./South Cbad there are 4 major factors contributing to the rareness/demand.
1.) Coastal Lifestyle
2.) Top Schools
3.) Newer housing stock and infrastructure.
4.) Location just within reach of Sorrento Valley.pemeliza
Participant“Encinitas proper has been less subject to this it would seem. What do those numbers look like?”
I am not sure what you mean by “Encinitas proper” but I can say that in the late 90’s you could buy Encinitas houses west of I-5 in the 200-300k range. Major appreciation there over the last decade.
“Remember that 1997/1998-2001 marked the beginning of the bubble. People were already standing in lines to buy houses in 1999/2000 here.”
That is a big reach CAR. Prices were dirt cheap in the 97/98 time frame. 5000+ sq. ft. houses on 1/2 acre lots in the “Ranch” were selling in the 600-700k range.
“There is only a finite coastal space. Those that want it pay.”
I think in the case of Enc./South Cbad there are 4 major factors contributing to the rareness/demand.
1.) Coastal Lifestyle
2.) Top Schools
3.) Newer housing stock and infrastructure.
4.) Location just within reach of Sorrento Valley.pemeliza
Participant“I’d call that unmet supply. Among people who wanted to buy in NCC and didn’t, many bought elsewhere”
Back in the late 90’s Encinitas and Carlsbad were the relief valve for those who worked in Sorrento Valley but didn’t want to pay the sky high LJ,RSF,CV,DM,SB prices. The major tradeoff was commute time. Over the following decade this trend continued and the quality of life in Encinitas and Carlsbad soared as did the relative values of the housing stock.
Unlike the more mature areas, many new houses were sold at the peak of the market to buyer’s with little or no skin in the game. These weak hands will have to be flushed no doubt about it. This flushing is leading to an over-correction to the downside making for some very attractive deals for those with the means to buy.
pemeliza
Participant“I’d call that unmet supply. Among people who wanted to buy in NCC and didn’t, many bought elsewhere”
Back in the late 90’s Encinitas and Carlsbad were the relief valve for those who worked in Sorrento Valley but didn’t want to pay the sky high LJ,RSF,CV,DM,SB prices. The major tradeoff was commute time. Over the following decade this trend continued and the quality of life in Encinitas and Carlsbad soared as did the relative values of the housing stock.
Unlike the more mature areas, many new houses were sold at the peak of the market to buyer’s with little or no skin in the game. These weak hands will have to be flushed no doubt about it. This flushing is leading to an over-correction to the downside making for some very attractive deals for those with the means to buy.
pemeliza
Participant“I’d call that unmet supply. Among people who wanted to buy in NCC and didn’t, many bought elsewhere”
Back in the late 90’s Encinitas and Carlsbad were the relief valve for those who worked in Sorrento Valley but didn’t want to pay the sky high LJ,RSF,CV,DM,SB prices. The major tradeoff was commute time. Over the following decade this trend continued and the quality of life in Encinitas and Carlsbad soared as did the relative values of the housing stock.
Unlike the more mature areas, many new houses were sold at the peak of the market to buyer’s with little or no skin in the game. These weak hands will have to be flushed no doubt about it. This flushing is leading to an over-correction to the downside making for some very attractive deals for those with the means to buy.
pemeliza
Participant“I’d call that unmet supply. Among people who wanted to buy in NCC and didn’t, many bought elsewhere”
Back in the late 90’s Encinitas and Carlsbad were the relief valve for those who worked in Sorrento Valley but didn’t want to pay the sky high LJ,RSF,CV,DM,SB prices. The major tradeoff was commute time. Over the following decade this trend continued and the quality of life in Encinitas and Carlsbad soared as did the relative values of the housing stock.
Unlike the more mature areas, many new houses were sold at the peak of the market to buyer’s with little or no skin in the game. These weak hands will have to be flushed no doubt about it. This flushing is leading to an over-correction to the downside making for some very attractive deals for those with the means to buy.
pemeliza
Participant“I’d call that unmet supply. Among people who wanted to buy in NCC and didn’t, many bought elsewhere”
Back in the late 90’s Encinitas and Carlsbad were the relief valve for those who worked in Sorrento Valley but didn’t want to pay the sky high LJ,RSF,CV,DM,SB prices. The major tradeoff was commute time. Over the following decade this trend continued and the quality of life in Encinitas and Carlsbad soared as did the relative values of the housing stock.
Unlike the more mature areas, many new houses were sold at the peak of the market to buyer’s with little or no skin in the game. These weak hands will have to be flushed no doubt about it. This flushing is leading to an over-correction to the downside making for some very attractive deals for those with the means to buy.
February 3, 2010 at 5:45 PM in reply to: Rising FHA default rate foreshadows a crush of foreclosures #509201pemeliza
Participant“Frankly I think we are too close to a double dip recession for the powers that be to let a flood of anything occur if they can help it.”
Count me as one of the folks that thought that the government would step up the intervention as the economy continues to get worse. On hearing what has come out of Washington over the last couple of weeks, I’m not so sure anymore. Obama seems so far out of touch with what is going on it is scary. The congress is deadlocked and the republicans have zero incentive to do anything to help the economy as their probability of taking more seats increases as the unemployment rate increases. The FED is looking increasingly impotent.
I now think that there is a chance that TPTB are just going to set by and let this mother burn. Maybe it is for the best. Probably the only way to prevent a Japan at this point is a hard reset and return to fiscal sanity.
February 3, 2010 at 5:45 PM in reply to: Rising FHA default rate foreshadows a crush of foreclosures #509295pemeliza
Participant“Frankly I think we are too close to a double dip recession for the powers that be to let a flood of anything occur if they can help it.”
Count me as one of the folks that thought that the government would step up the intervention as the economy continues to get worse. On hearing what has come out of Washington over the last couple of weeks, I’m not so sure anymore. Obama seems so far out of touch with what is going on it is scary. The congress is deadlocked and the republicans have zero incentive to do anything to help the economy as their probability of taking more seats increases as the unemployment rate increases. The FED is looking increasingly impotent.
I now think that there is a chance that TPTB are just going to set by and let this mother burn. Maybe it is for the best. Probably the only way to prevent a Japan at this point is a hard reset and return to fiscal sanity.
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