I have a young couple who is really interested in clairemont and every month or so we go out and look at homes there. They are in no real hurry. I have seen some price drops there but there has been an elemenis still alot of stickiness for some of the nicer canyon homes. There is ALOT of inventory and I cannot help but think Clairemont will chunk down but it may not be until there is another good strong wave of foreclosures in that area. There already have been a good deal of foreclosures there and I think your price target will be reached but I am not betting on it in an immediate timeframe. It is possible by late 08 it will get there but it may be for the less desireable homes there. By 09 there is a 50/50 shot at some nicer homes finding that price level….
As always lots of dependencies/wildcards that can slow down or speed up the process.
