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Saturday, February 12, 2011
Crystal Cove Sale Trend Points to Huge Declines By Summer 2011
If the trend for Crystal Cove White Sails homes continues to next May, the price per square foot will be in the $500 range - down from the $800 range today. This means huge losses for any new buyers and existing homeowners. Chart below.
4 comments:
Anonymous
said...
Are you serious with this type of high school linear analysis.....draw a straight line and "instant analysis".
Why dont you keep the line moving, at that rate prices go to ZERO by 2015.
You seem to be reaching for facts right now. Houses continue to sell, prices have firmed, the data supports that.
You seem to make up "facts" as you go. This latest analysis shows you never made it past high school.
The post is about a short term trend that any buyer would find very important. There are no made up facts whatsoever. I'm sure plenty of real estate agents out there don't want potential buyers to know the bad news, but that's why I'm here. If the short term trend continues to next summer, new buyers will get burned.
While I do believe the overall trend is downward in housing (high end and low end) your white sails analysis is not 100% accurate. when we're dealing with the high end versus a cookie cutter stucco box in Anaheim or Brea, these properties are all a "little" different. But that "littleness" is enough to throw off the numbers. Some of these White Sails homes have sweeping ocean views while others have peek-a-boo view or literally now view at all from downstairs. Some are next to a noisy street, others are at the end of a cul-de-sac with a bigger lot. Some have immense amounts of money dumped into interior and exterior improvements while others are left in the original builder condition with minimal exterior work. I would say just be careful before when you take on a graph such as the White Sails one and draw a line like that.
Dear Anon, if you look at my other post on the White Sails price declines, you will find links to each listing. All had ocean views. None were near a busy street (indeed, if you knew the area, you would know there are no busy streets in Crystal Cove). And lastly, they are in fact cookie cutter stucco boxes built by the same company - albeit made with higher end materials. Some real estate agents just want to **believe** that there is something else happening other than price declines. Sorry, the truth is that price declines are happening.
4 comments:
Are you serious with this type of high school linear analysis.....draw a straight line and "instant analysis".
Why dont you keep the line moving, at that rate prices go to ZERO by 2015.
You seem to be reaching for facts right now. Houses continue to sell, prices have firmed, the data supports that.
You seem to make up "facts" as you go. This latest analysis shows you never made it past high school.
Try again.
The post is about a short term trend that any buyer would find very important. There are no made up facts whatsoever.
I'm sure plenty of real estate agents out there don't want potential buyers to know the bad news, but that's why I'm here. If the short term trend continues to next summer, new buyers will get burned.
While I do believe the overall trend is downward in housing (high end and low end) your white sails analysis is not 100% accurate. when we're dealing with the high end versus a cookie cutter stucco box in Anaheim or Brea, these properties are all a "little" different. But that "littleness" is enough to throw off the numbers. Some of these White Sails homes have sweeping ocean views while others have peek-a-boo view or literally now view at all from downstairs. Some are next to a noisy street, others are at the end of a cul-de-sac with a bigger lot. Some have immense amounts of money dumped into interior and exterior improvements while others are left in the original builder condition with minimal exterior work. I would say just be careful before when you take on a graph such as the White Sails one and draw a line like that.
Dear Anon, if you look at my other post on the White Sails price declines, you will find links to each listing. All had ocean views. None were near a busy street (indeed, if you knew the area, you would know there are no busy streets in Crystal Cove). And lastly, they are in fact cookie cutter stucco boxes built by the same company - albeit made with higher end materials. Some real estate agents just want to **believe** that there is something else happening other than price declines. Sorry, the truth is that price declines are happening.
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