[quote=AN]CAR, I didn’t know you consider Escondido and Vista too. That definitely open up the supply much more, especially Escondido, since they do have quite a few large lots single story home. So I guess you’re not that picky after all :-). I’m sure you probably looked at this one:
Single story, 2,871 sq-ft, 4bed/2.5bath, on 0.73 Acres. Best part of all, it’s listing at $825k and sold in 2001 for $598k. Which mean you’re w/in $40k of 2001 inflation adjusted price.[/quote]
That’s a beautiful house, but it has an HOA, and the price is too high. If we move to Escondido or Vista, it would have to be and exceptional house **at an exceptional price.** If we had to choose between this and the one in O’hain, we’d choose O’hain (the $850K one).
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sdcellar,
Yes, price is the main issue right now. We think prices on these homes will gradually go lower over the coming years. Without all the equity from the starter homes, move-up buyers will not be able to afford what they did during the bubble years.
While foreclosures got the lower end, it will be a lack of **future** qualified buyers that will sink the higher end homes (in addition to some financial stress and foreclosures/short sales, etc.). It will just take time, IMHO.
