Albert Einstein Was Right…Go Figure!

In my last blog I used Sir Isaac Newton’s theories of gravity as a metaphor for the Huntington Beach real estate market. So this time around I was thinking, hmmm, there is another famous genius that I could use, that is analogous to the Newport Beach real estate market. Albert Einstein’s “for every action there is a reaction,” is certainly applicable for the trends we are seeing today. Prices go up, prices go down. The market is hot, the market is cold. Give out a million subprime loans and watch people try to get out of situations that they should have never been in in the first place. Yes my real estate friends, for every action there is a reaction. Sometimes these reactions are correctable and other times they are not. Whatever the case may be, these are the results of our past actions. Mr. Einstein, your genius is timeless.

 Albert Einstein

3308 South Clay St. #A: 4 Beds, 4.5 Baths, 2,600 SQ. FT. The list price was “$1,430,000″ and changed to “$1,390,000″

4437 West Coast HWY #17: 3 Beds, 2.5 Baths, 1,753 SQ. FT. The list price was “$1,295,000″ and changed to “$1,195,000″

247 Prospect St: 3 Beds, 3 Baths, 1,840 SQ. FT. The list price was “$1,349,000″ and changed to “$1,249,000″

126 35th St: 3 Beds, 2.5 Baths, 1,600 SQ. FT. The list price was “$1,400,000″ and changed to “$1,450,000″

120 40th St: 2 Beds, 2.5 Baths, 1,200 SQ. FT. The list price was “$1,299,000″ and changed to “$1,495,000″

515 Kings Pl: 5 Beds, 3.75 Baths, 4,000 SQ. FT. The list price was “$2,760,000″ and changed to “$2,720,000″

4102 River Ave: 2 Beds, 1.5 Baths, 1,133 SQ. FT. The list price was “$2,150,000″ and changed to “$1,990,000″

409 29th St: 3 Bed, 5Baths, SQ. FT. not listed. The list price was “$2,900,000″ and changed to “$2,599,000″