Any ideas of %down from now? Solely thinking financially, I would wait at least a year for things to settle. That being said, we would still really like to get in a house sooner rather than later. What price would you think is/will be reasonable for ~1500sf range? If we could get catch a deal on a foreclosure now, I’m hoping we could mitigate most of the short term losses (in the next year or so) and making up the rest in sweat equity. Do you guys foresee another 20% drop in prices, i.e. prices under 300k for that area? I think it’s possible with any big event in the economy, but long term I feel like the prices are getting close to reasonable… i.e. 2 working adults with decent jobs can afford it on a fixed 30yr. mortgage.
Sorry, I’m rambling a bit now. Basically, I’m asking how much lower do you expect Poway to go? Also, if we got a decent deal on a “fixer upper” do you think we’d be upside down after ~5yrs?
