I think your hesitation is right on. I think 6 months to 1 year you can get the same home for $25-$45 less per square foot. That is just my opinion having watched SEH for two years. Or just low ball. I would NOT spend $200 per square foot here because we are still declining.
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One on Milan went for 180 a sq ft and another on genoa 170 a sq ft in the last month or so. That 25-45 dollar drop could happen quickly if a ton of inventory dumps on the market in 2009. 25 dollars off that 170 watermark – puts the smallest floor plan under 500K. I dont think that happens this year but why not be optimistic.
Im eyeing a commute from SEH to the 56/5 interchange (not as bad as a commute to LJ and have el camino as an alternate).
