The show keeps going folks. Despite the typical "our town is immune" cheerleading from most local real estate agents, the Laguna Beach median home price slid to $1.14 million in March, down 30% since last year. The average Laguna Beach homeowner has lost about $30,000 per MONTH in net worth from home value decrease during the last year.
Glad I'm still renting while I'm in house hunting mode. My landlord could repave a mile of PCH with the dollar bills he loses in home value in only one month. Oh, yeah, while that bleeding goes on, I get to live in his fabulous house! Sounds like the new version of the American dream!
The "immunity" has turned into the full blown plague. Don't catch it!
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2 comments:
LOL, I'm in the same situation. I've been enjoying Corona Del Mar for the past couple years but at the cost of rent. I love how not lowering prices is costing stubborn sellers $30,000 per month. "Let's put our house on the market for at least what we paid for it! Maybe someone will buy it, it doesn't hurt to try!" $30,000 per month. Tic toc, tic toc.
I hope Laguna Beach Home & Carona Del Mar are two regions where the home prices are dropped to lowest. Now according to real estate experts, home prices in entire California Real Estate will improve in coming months.
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