Those sales prices threw me for a loop. In my mind, they are the canary in the South OC market.

Cashman – I could have bought an SFR on 7K sq ft lot in Lido Sands (private community on the Balboa Peninsula) for $400K in 1995, but had no wherewithal at the time to pull off such a transaction. I think we’ll get another crack at these sorts of bargains (adjusted for inflation) in the next few years.