downside risk is still quite high in OC/LA. while pre-2001 pricing are easy to find in Temecula Valley and actually starting to pop up here and there in San Diego, I do not think the time has come for the OC.
remember, OC/LA were about 1 year behind SD. and if you see how much hurt SD folks that bought in late 2007 are feeling, that’ll be you in late 2009.
they just dropped the conforming loan limit in OC/LA to $625k, that’s going to accelerate the decline especially in top tier prices.
DO NOT END UP UNDER HOUSE ARREST just to save some money on taxes.
