[quote=meadandale][quote=flu][quote=meadandale]Many of these homes were bought at the ‘low’ end, i.e. under a million and many folks look to be trying to get out with some cash before the high end gets hit any harder.

One of those houses belongs to a friend of mine and they are selling due to divorce. They currently have it on the market for about the same or slightly less than they paid in 2001-2002 (and they did quite a bit of remodeling and landscaping). Others on the street are quite a bit more out of touch and are still holding firm to prices of $1.2 to $1.3 which I doubt they’ll get.

They ARE nice houses though if you want a 3000+ sq foot house in CV but the yards aren’t terribly large; my 1100 sq foot house in Allied Gardens has a back yard of comparable size.[/quote]

They are nice (don’t mind the yard size)….Just the hoa fee is a doozy.[/quote]

Don’t forget the property tax. My friend pays over $12k a year in property tax at his current assessment. That’s quite a chunk of change.
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I already pay close to that for prop taxes too. Looking to upgrade 🙂