Maybe the numbers for the period I charted were an anomaly. I am going to run another report in Febuary to see what’s happening for the 07-08 January period. It would really defy the market to see appreciation again.

I hope this answers your question. Thanks for stopping by!

Did you take a good look at the charts? The questions you ask about the comps are right there. The numbers you see are real. I am not putting up lies. What good would that do?

The company that provides the charts takes the information directly from the Multiple Listing Service. The results are for Single Family homes – attached and detached. It does not include condos. The information compares December 2007 to December 2008. Other than indicating the city and dwelling types, I have zero control on the report results. In other words, I’m not making this stuff up.

Check out my other posts for Crystal Cove and Newport Beach. Those posts are not pretty pictures.

Truthfully, I was surprised to see the increase in values. I ran the report twice just to be certain. I am not trying to convince anyone about anything. I am just reporting the news and giving opinions.

As for the future, I misplaced my crystal ball, so I can’t say what is going to happen in the next 3-5 years. I will tell you this — there is a tremendous amount of interest in Newport Beach real estate from all over the world.

With regards to other Realtors and what they say – It’s difficult enough keeping my head straight with my business to be concerned with what other Realtors are telling folks. I’m just trying to do my job.

As for the mess we are in – it’s way bigger than Realtors talking about the market. It started with greed from every direction. But that’s another discussion.

Thanks again for your comments.

Michael