I would like to answer my own question a year after asking it:-)
We are starting to see a resurgence of second home buyers in North Coastal San Diego County. Many anticipate retirement here, and feel that the best timing for good buys might be now--rather than later. These buyers tend to be affluent and have a history of making good financial decisions.
Blue chip real estate will always attract buyers....... more
I think that the whole area is still overpriced, 40+%. It takes a while for people to realize just how big of a scam bubble that we had through 2006. Real estate bubble prices adjust downward more slowly than bubbled stock prices.... more
The luxury home market is not showing much of a drop less than 10%. If the property has a great ocean view like in Palos Verdes some of my properties are haveing multiple offers and one neighborhood has increased as much as $100,000.00 since January. My company has market trend charts available to our clients so they can chart the pricer per square foot in their neighborhood of the South Bay from 4/06 to 07/07. It is a great tool in tracking the market. It depends what price range you consider the luxury home market to determine an accurate tracking.... more