I Do Love Being Right

Yesterday's post brought another question:
"Do you know much the Sunnyvale 94087 area values have declined? especially in Ortega Park, Cherry Chase, Birdland neighborhoods?"
My answer was:
"Fortunately, these neighborhoods have not been impacted as much the 94086 areas....fewer subprime loans and better schools. Three to five percent loss in value, in most cases."
Today's business section of The Mercury News brought the headline: "All Dried Up?", telling us that million dollar plus home sales in the state fell by 43% in 2008....the lowest level since 2003, and that Santa Clara County's drop was the second highest. Was I wrong? Turns out that the drop in valuein the million plus price range was down only 3.3% from 2007, right in the 3-5% range I had estimated