My family decided to rent a place in 4s, although our development (La Vina) isnt really part of the 4s master plan.
Prices in this development have dropped steadily since we started looking over here for rentals in Feb 2007. People were asking 600-650 for the 1700-2000 sq ft homes and recently one home was listed at 500-5andchange.
Since we moved in there has been a constant 8-12 homes with REO/ Fore Sales/ FSBO signs. As one gets bought up, another comes on the market. There is one on Tallus glen for rent (see craigslist) I think might be in trouble given that they are asking over 3K for rent and has dropped the rent price already in a week. So more to come in my opinion.
On 4s, the northern part of the “ranch” mello roos are outrageous. The ones on the south side are better (Older homes) and the gated community over in 4s had a listing just over 500k so that ones dropping a fast too.
