Scripps has been very tough because it did experience depreciation but not nearly as much as other areas. I think it did provide a stark example of the old money verses new money differential in play. By far the biggest drops were out in stonebridge which represents new homes in scripps. This is not to say old homes didn’t depreciate but on a percentage scale not nearly as much.

Right now scripps is showing very poor inventory and strong demand. You will most likely experience depreciation but to me it is not any different then any other nice area. Don’t get in over your head.