futureprez there are some short sales and even an REO here and there in 4S. I agree with you it is an overpriced area. However you will need extraordinary patience to get another 25% out of the pricing…The demand is still strong for 4S but I don’t see any superpower immunity for 4S. I do put 4S in the category of one of the somewhat desireable areas due to good schools and new housing stock. There are PLENTY of two income engineer/biotech families who love 4S and can afford it even at todays pricing.
I will be updating the 4S distress monitor next week and we will see if there are any new distress opportunities there.
Be patient, wait a a year or a few years. It will come to you.
