farbet, breee and blackbox, both sdrealtor and myself, SD Realtor) are of the opinion that we are in a heavy bear market and that there will be continued depreciation that will be substantial. I am not sure where you guys derived opinions that are otherwise.
Now in this particular thread sdrealtor has taken a different stance regarding some of the particular properties that ocrenter has researched. The argument is not that these properties are at a certain price level (with regards to the past) but has the entire area depreciated to a given level…(ie, is the entire area at 2003 pricing, or are a few homes at 2003 pricing)
Finally the point sdrealtor is also making is that in 2003 there was incredible appreciation, that is pricing in February of 2003 was substantially different then pricing in November of 2003 so taking the year as a whole is quite subjective.
ocrenter continues to find major price reductions and distress sales in the area and like the tide going out, eventually it will be true that the entire area will hit November 03 pricing and then February 03 pricing. Will that happen in a month, or in a year or in two years is anyone’s guess.
