Keep waiting. As loans reset, etc. there could be more price depreciation in the area you like. I have seen a lot of price downturn in the area I am watching in the last six months and I have no reason to think it is going anywhere but down. The CA economy, jobs, etc. are contributing to the downturn and I do not think it will recover for the next couple of years. It might level off, but the long time owners who have not yet figured out that they just missed the boat will eventually wise up. When they do, there will be more houses available even in areas that people erroneously think are immune from the down turn. Watch and wait.
