That house is smack dab in the middle of one of the markets that is in fact crashing in San Diego. We are hearing that San Diego has been a tale of two cities with prices falling in areas like Oceanside, San Marcos, Vista while staying level in Carlsbad etc. Of course, now they may actually be falling everywhere, but you need to realize that unlike much of say Carlsbad or Encinitas, this area you are looking at is going down.
Next point: Look at San Marcos, not Vista. Prices are down heavily in some areas in San Marcos too, the city has money and is very up and coming, and they have a major university there. City has budget surpluses. Look at the city offices, the new development in San Marcos, go to their Christmas festival in December, look at the handful of master planned communities they have built there – all very nice. I am also from Illinois and lived in Vista 2 years, San Marcos 2 years. I hated Vista, loved San Marcos. Better yet, if you haver 600k to spend and don’t mind 1700 sqft. 3br/2ba, look to Encinitas.
To give youa feel for the market, homes in Shadowridge in Vista that were 515k at the peak are now selling for 415k. Homes in San Marcos that were 700k at the peak can now be found at 575k.
