Housing market in San Diego/Carlsbad/Encinitas?

Question

I was in Carlsbad this past Dec-Feb and loved it. I have visited S.D. previously (city) and loved that too. I understand the housing market has taken a major nose-dive and I was wondering just how much (percentage/dollar wise) the average home has dropped.

I would love to move there permanently, but the homes I liked were still $200K over my maximum.

Any suggestions? Homes, condos only as close to the water as possible.

Answer 1

The area is still way overpriced, it may continue to drop in value. It's dropped 10%-15% from peak of 2005. Property near water is still pricey, but unaffordable to many...

Property taxes are about 1.25%

The sad thing is that the market tripled between 1995 and 2005, and many people living in the area could not afford to buy their home today, something is really wrong with that.

Some people who bought the last 2-3 years now owe more than their house is worth, and with loans adjusting, some will be losing homes to foreclosure.

I think that the market is still a long way from the bottom, but nobody has a crystal ball.