Well, all this doom and gloom coming from the media has not affected the La Jolla Coast.
Home prices have actually held their ground and have not fallen during this latest market slowdown. Sure, sales numbers are down this past year, but many properties are still selling in weeks or less!
Condos are doing just as well. However, truth be told, some complexes in proper La Jolla, specifically condo conversions and units priced less than around $800,000 are seeing some short sales and even foreclosure activity. Seems like some people got in over their head even here in La Jolla.
As for nearby commuties like Mission and Pacific Beach.... the booze ban has definitely cleaned the coast up. Have you been on the boardwalk as of late?? WOW is all I can say. Having grown up here, I can honestly say it is the cleanest and safest I have ever seen it.
Look for property in Mission Beach to only get more valuable as it appears to becoming a version of Newport Beach South. One real estate company is leading the change and with the cigarette and booze ban, more baby boomers will be looking to purchase second homes there for sure.
As always, my personal website affords you a free property search with addresses so be sure to check it out!
Until next time....
~john
Thursday, February 28, 2008
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