Enorah looking back 2.5 weeks later I say you did well and indeed you may have made a good call.
Unfortunately I still contend that the shift is not happening in ANY of the neighborhoods I want to buy in. In fact the few homes I have REALLY REALLY been eyeballing went into escrow at their list prices. The homes that some of my clients want in La Costa Valley are still way way out of the prices we want them to be in and have not shifted. Similarly Solana Beach, Del Mar, 4S, La Jolla, University City are not following suit.
Will they? I think they will but it will take some time. I absolutely feel that this credit crunch will VERY MUCH help to accelerate the issue but I don’t see it taking the form of severe pricing declines across the board in these neighborhoods for awhile. I think there will be more here and theres… which will lead to more… and then even more.
It will be a good thing.