I have been watching the market in 92127, 92129 zip codes for about past 6 months, and the inventory increased quite a lot, but failed to see any significant price reduction yet. I am still wondering when I can actually see the real price reduction (20-40%) that many people are talking about in this blog. I want to see 40% price reduction personally, but it looks like very unrealistic in short term.
I agree that there are too many million dollar homes, and they do not look like a million dollar home at all.
