5-10% percent annually until finally reaching late 2002, early 2003 prices. This will be for any area resale home. New homes purchased in 2002/2003 may have been contracted 3-12 months earlier and therefore may not reflect actual pricing on purchase date. That’s why new downtown condos were selling for a 20% profit after 3 months from original purchase date during 2004.
Predicted 3000 sq ft(newer)home prices after decline:
Carmel Valley $650,000 (with small lot/6500sqft)
Carmel Valley $750,000 (with larger lot/10000+sqft)
Chula Vista $500,000-$600,000
Escondido $400,000-$500,000
San Marcos $400,000-$500,000
Valley Center $400,000-$600,000 (depending on lot/acres)
