Home Values Plummet in Supposedly "Immune" High End Cities

Recent data shows that home values in SoCal's high end communities only recently began dropping. But the drops are huge. The LA Times has a good article about it. One couple lost $400,000 in only a few months. Laguna beach home prices and Newport Beach home prices are following suit. Uninformed buyers are really at risk. Pound your agent for comps and analyze everything out there before you make an offer. Take the comps and SUBTRACT for the declining market to get to your offer price.