I submit this strange case from Spring Valley for your viewing pleasure:

1628 PRESIOCA ST #23 91977 2/1 $160,000
1628 Presioca St #17 91977 2/1 $283,000

The past sales history makes #23 almost certainly a short sale. It could be a pipedream. The bank would probably laugh. The previous sale was recorded around $250K. But I can say the low short sale listing are driving down price expectations. I can see almost daily the prices creeping down. I know I’m talking about El Cajon/ Spring Valley condos and not S.D. SFRs, but this will have an eventual effect I bet.

Check out Stone Ridge Condos at 5707 Baltimore Drive in La Mesa. I found the sales flyer in my car today for their phase one release. I don’t know if they’ve sold any units. Looks like they have slashed prices 40K across the board. Was $365K and up now $320K and up. That was a big reduction considering they just started selling phase one in the last month I believe.