12 Comments

1. 

   livinincali on January 3, 2012 at 12:50 pm

   I think big money investors are starting to shift investments into real tangible assets. I think they are a bit worried about owning debts that may not get paid (I’d rather own a trophy Del Mar property than US government debt). High end real estate fits the bill, so do high end collectibles. As long as the big money is looking to store wealth in real assets, high end real estate will do well.

2. 

   Jim the Realtor on January 3, 2012 at 1:18 pm

   Agreed, plus foreign or domestic buyers from more-expensive towns (SF, LA, NY, etc.) think we are giving away our real estate in San Diego.

   It didn’t hurt that the Rose Bowl announcers mentioned the temperature several times at the Rose Bowl yesterday (80+).

3. 

   Just some guy on January 3, 2012 at 8:11 pm

   “Agreed, plus foreign or domestic buyers from more-expensive towns (SF, LA, NY, etc.) think we are giving away our real estate in San Diego.”

   It’s funny you should say that because my friend is trying to sell his “high-end” home in San Elijo. His work colleagues in the SF Bay Area routinely laugh at his plight because they can’t understand why he hasn’t been able to sell a newer house that is listed for under a million.

4. 

   andrewa on January 4, 2012 at 12:16 am

   Its not that the US government will not honour its debt, Its that it WILL honour them with large amounts of dollars it printed extra itself………How easy would it be to pay YOUR debts if you could use hand drawn $100 bills you drew yourself? So yes building costs go up over the long term and so does property strangely enough.

5. 

   livinincali on January 4, 2012 at 8:06 am

   “It’s funny you should say that because my friend is trying to sell his “high-end” home in San Elijo. His work colleagues in the SF Bay Area routinely laugh at his plight because they can’t understand why he hasn’t been able to sell a newer house that is listed for under a million.”

   My comment about high end was more directed at $2+ million custom homes in great locations. The real trophy properties. It wasn’t directed at 4000SF track homes. Those homes are still being bought by owner-users with financing (Doctors, Lawyers, Management, etc.). People with high income and some significant wealth but not people with millions in liquid wealth.

6. 

   Jim the Realtor on January 4, 2012 at 8:22 am

   Link please.

7. 

   livinincali on January 4, 2012 at 9:23 am

   My comment is subjective but based roughly on this post by you https://bubbleinfocom.wpenginepowered.com/2011/12/27/cash-homebuyers-increased/

   The category of 500K to 1 million still shows mostly financed properties. Maybe you’ve seen evidence of all cash buyers coming in and buying CV track homes or other similar homes as investments, if so then I’m clearly wrong.

8. 

   GettinReady on January 4, 2012 at 9:40 am

   No numbers for Coronado? I would expect those numbers to be higher than Del Mar.

9. 

   Jim the Realtor on January 4, 2012 at 9:56 am

   Coronado, 92118 Detached Sales, Avg $/sf:

   2010: 137, $714/sf
   2011: 150, $671/sf

10. 

    GettinReady on January 4, 2012 at 6:06 pm

    Thanks Jim !

    ———————————————-
    9.Coronado, 92118 Detached Sales, Avg $/sf:

    2010: 137, $714/sf
    2011: 150, $671/sf

11. 

    Just some guy on January 4, 2012 at 11:16 pm

    @livinincali

    I was trying to be snarky. Hence the quotation marks around high-end San Elijo home. Regardless, I was merely agreeing with Jim’s remarks about how home values are perceived by those in SF when looking at SD home prices. According to my unscientific, anectodal evidence our friends that live in the SF Bay Area really do in fact think we are giving our homes away.

12. 

    Just some guy on January 4, 2012 at 11:18 pm

    @livinincali

    but, yes….I understand what you mean now.