[sdrealtor]

Ren
Trust me on this one. The houses selling at 900+ at the peak were sold for 400K NEW in the late 90’s. I dont discount you seeing sales histories with prices in the high 300’s to 400 but they were new and required significant improvements to get them livable unless you consider a dirt lot, builders grade carpet, flat white walls and no window coverings livable among other things.

I just checked the MLS for 1999 closed sales to see what sold below 400K that could possibly have sold for 900+ at the peak. The only thing I found was a handful of new homes entered by the builders which arent really sub 400K homes because of what I have been trying to explain.

Enjoy sitting on the sidelines. With you expectations you will never get off them.

sdr

[sdrealtor]

Ren,
In the late 90’s they were going for 400K new with basically no upgrades or landscaping. I know as I bought one. To get the house livable (paint, flooring, appliances, window treatments and landscaping) too you to about 475K new for a decent home. These were sold just off the bottom of the last cycle. I just cant see any reason why they would end up between 400 and 500K. I know numerous people with means to buy regardless of rates, income etc. The have strong assets, recession proof careers and are waiting for the right house at a decent price (within 10% of current levels up or down). If I know a dozen there’s gotta be alot more than that out there.

[sdrealtor]

Ren,
In the late 90’s they were going for 400K new with basically no upgrades or landscaping. I know as I bought one. To get the house livable (paint, flooring, appliances, window treatments and landscaping) too you to about 475K new for a decent home. These were sold just off the bottom of the last cycle. I just cant see any reason why they would end up between 400 and 500K. I know numerous people with means to buy regardless of rates, income etc. The have strong assets, recession proof careers and are waiting for the right house at a decent price (within 10% of current levels up or down). If I know a dozen there’s gotta be alot more than that out there.

[sdrealtor]

Ren,
In the late 90’s they were going for 400K new with basically no upgrades or landscaping. I know as I bought one. To get the house livable (paint, flooring, appliances, window treatments and landscaping) too you to about 475K new for a decent home. These were sold just off the bottom of the last cycle. I just cant see any reason why they would end up between 400 and 500K. I know numerous people with means to buy regardless of rates, income etc. The have strong assets, recession proof careers and are waiting for the right house at a decent price (within 10% of current levels up or down). If I know a dozen there’s gotta be alot more than that out there.

[sdrealtor]

Ren,
In the late 90’s they were going for 400K new with basically no upgrades or landscaping. I know as I bought one. To get the house livable (paint, flooring, appliances, window treatments and landscaping) too you to about 475K new for a decent home. These were sold just off the bottom of the last cycle. I just cant see any reason why they would end up between 400 and 500K. I know numerous people with means to buy regardless of rates, income etc. The have strong assets, recession proof careers and are waiting for the right house at a decent price (within 10% of current levels up or down). If I know a dozen there’s gotta be alot more than that out there.

[sdrealtor]

Ren,
In the late 90’s they were going for 400K new with basically no upgrades or landscaping. I know as I bought one. To get the house livable (paint, flooring, appliances, window treatments and landscaping) too you to about 475K new for a decent home. These were sold just off the bottom of the last cycle. I just cant see any reason why they would end up between 400 and 500K. I know numerous people with means to buy regardless of rates, income etc. The have strong assets, recession proof careers and are waiting for the right house at a decent price (within 10% of current levels up or down). If I know a dozen there’s gotta be alot more than that out there.

[sdrealtor]

Price per sq ft defintely descreases as size increases due to all the fixed costs that dont depend upon size.

To answer your 2nd question, prime locations in LCV are stilling selling at or near peak prices. There are a ton of folks dying to get into LCV at an affordable price to them and a great home. Unfortunately, there are also alot of folks looking for those same homes who are far less price sensitive. If you are a well paid professional with young kids there probably isnt a better community to live in along the coast. The place is a veritable magnet for Relocated execs also who crave a nice community with nice amenities, great schools and nice homes. Each year a dozen or two execs come to LCV from major markets (SF, NYC, Boston, London, Paris, Scandavian metros, Asian metros). The come loaded with suitcases of cash from sales of their prior homes, big incomes and big relo packages. That wont change. It wont support the market but in a neighborhood where more than half of the people paid about 400K and are dug in with low/no mortgages turnover runs from 40 to 80 homes per year of which maybe half are very desireable. There are plenty of buyers for those homes as there always will be IMO. The other issue is when folks move alot of the longtime owners recognize the long term value and just rent there homes for $1000+ positive monthly cash flow.

[sdrealtor]

Price per sq ft defintely descreases as size increases due to all the fixed costs that dont depend upon size.

To answer your 2nd question, prime locations in LCV are stilling selling at or near peak prices. There are a ton of folks dying to get into LCV at an affordable price to them and a great home. Unfortunately, there are also alot of folks looking for those same homes who are far less price sensitive. If you are a well paid professional with young kids there probably isnt a better community to live in along the coast. The place is a veritable magnet for Relocated execs also who crave a nice community with nice amenities, great schools and nice homes. Each year a dozen or two execs come to LCV from major markets (SF, NYC, Boston, London, Paris, Scandavian metros, Asian metros). The come loaded with suitcases of cash from sales of their prior homes, big incomes and big relo packages. That wont change. It wont support the market but in a neighborhood where more than half of the people paid about 400K and are dug in with low/no mortgages turnover runs from 40 to 80 homes per year of which maybe half are very desireable. There are plenty of buyers for those homes as there always will be IMO. The other issue is when folks move alot of the longtime owners recognize the long term value and just rent there homes for $1000+ positive monthly cash flow.

[sdrealtor]

Price per sq ft defintely descreases as size increases due to all the fixed costs that dont depend upon size.

To answer your 2nd question, prime locations in LCV are stilling selling at or near peak prices. There are a ton of folks dying to get into LCV at an affordable price to them and a great home. Unfortunately, there are also alot of folks looking for those same homes who are far less price sensitive. If you are a well paid professional with young kids there probably isnt a better community to live in along the coast. The place is a veritable magnet for Relocated execs also who crave a nice community with nice amenities, great schools and nice homes. Each year a dozen or two execs come to LCV from major markets (SF, NYC, Boston, London, Paris, Scandavian metros, Asian metros). The come loaded with suitcases of cash from sales of their prior homes, big incomes and big relo packages. That wont change. It wont support the market but in a neighborhood where more than half of the people paid about 400K and are dug in with low/no mortgages turnover runs from 40 to 80 homes per year of which maybe half are very desireable. There are plenty of buyers for those homes as there always will be IMO. The other issue is when folks move alot of the longtime owners recognize the long term value and just rent there homes for $1000+ positive monthly cash flow.

[sdrealtor]

Price per sq ft defintely descreases as size increases due to all the fixed costs that dont depend upon size.

To answer your 2nd question, prime locations in LCV are stilling selling at or near peak prices. There are a ton of folks dying to get into LCV at an affordable price to them and a great home. Unfortunately, there are also alot of folks looking for those same homes who are far less price sensitive. If you are a well paid professional with young kids there probably isnt a better community to live in along the coast. The place is a veritable magnet for Relocated execs also who crave a nice community with nice amenities, great schools and nice homes. Each year a dozen or two execs come to LCV from major markets (SF, NYC, Boston, London, Paris, Scandavian metros, Asian metros). The come loaded with suitcases of cash from sales of their prior homes, big incomes and big relo packages. That wont change. It wont support the market but in a neighborhood where more than half of the people paid about 400K and are dug in with low/no mortgages turnover runs from 40 to 80 homes per year of which maybe half are very desireable. There are plenty of buyers for those homes as there always will be IMO. The other issue is when folks move alot of the longtime owners recognize the long term value and just rent there homes for $1000+ positive monthly cash flow.

[sdrealtor]

Price per sq ft defintely descreases as size increases due to all the fixed costs that dont depend upon size.

To answer your 2nd question, prime locations in LCV are stilling selling at or near peak prices. There are a ton of folks dying to get into LCV at an affordable price to them and a great home. Unfortunately, there are also alot of folks looking for those same homes who are far less price sensitive. If you are a well paid professional with young kids there probably isnt a better community to live in along the coast. The place is a veritable magnet for Relocated execs also who crave a nice community with nice amenities, great schools and nice homes. Each year a dozen or two execs come to LCV from major markets (SF, NYC, Boston, London, Paris, Scandavian metros, Asian metros). The come loaded with suitcases of cash from sales of their prior homes, big incomes and big relo packages. That wont change. It wont support the market but in a neighborhood where more than half of the people paid about 400K and are dug in with low/no mortgages turnover runs from 40 to 80 homes per year of which maybe half are very desireable. There are plenty of buyers for those homes as there always will be IMO. The other issue is when folks move alot of the longtime owners recognize the long term value and just rent there homes for $1000+ positive monthly cash flow.

[sdrealtor]

lol

[sdrealtor]

lol

[sdrealtor]

lol

[sdrealtor]

lol

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