In July, 2007, I sold the house at 10503 Abalone Landing Terrace in 92130 for $1,199,000, which was the full list price at the time.

Zillow has a follow-up program for properties logged under your name, and they send regular updates.

Yesterday they noted that their zestimate of value was $1,093,500, an increase of 1% over last month.  The overall decline since it sold was a relatively strong -8.8%, which seemed about right to me.  Carmel Valley has only seen about a 10% dip in values, at least so far. (click on image for better clarity):

For those buyers who are waiting for the big collapse, know that there are other buyers out there who are willing to pay more – it’s the sellers who are holding out.  I talk to other CV listing agents just about every day, and the stories are amazing.  I called on one that’s listed in the $1,300,000s, thinking that the max value was around $1,100,000, and had proof.  But the agent told me that they had two offers this month in the 1,200,000s, and the sellers turned them down!

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Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!

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