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San Diego County existing home prices plummeted 24.8 percent last year, according to Standard & Poor's/Case-Shiller indexes revealed today (Feb. 24). Of the 20 largest metro areas, only five did worse than San Diego: Los Angeles, Miami, Las Vegas, Phoenix and San Francisco. The last three dropped more than 30 percent. San Diego home prices are now down 39.2 percent from their high in November of 2005. There was one bit of possible slightly good news. The drop from November to December was 2.1 percent, an improvement over the 2.3 percent drop from October to November. Nationally, the composite drop of the top 20 metro areas was 18.2 percent in the fourth quarter versus the same period of 2007 -- the largest decline in the 21 year history of the series.

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2

Option Rate ARMs are coming later this year thru 2012...next wave of foreclosures and plunge. Carlsbad and San Marcos are especially vulnerable to these loans. Look for price declines of 30% or more there from here.

Feb. 26, 2009

Response to post #1: Yes, there could be 30 percent further declines in some areas of North County where those kinds of mortgages were so prevalent, but I wouldn't look for another 30 percent for the entire county. The decline from the peak is now almost 40 percent. Best, Don Bauder

Feb. 26, 2009

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4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
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