[quote=garysears]Not very scientific, but for Lakeside 92040 there are a total of 126 MLS listings, including land, condos, and SFR. 44 out of those 126 listings show a reduced price. Obviously some of the listings are newer and you wouldn’t expect everything to be reduced. But 35% reduced asking prices seems significant and mostly recent. I’m in escrow in the zipcode so I’ve been keeping a pretty close eye on it.
I think land prices might be really starting to crumble. One bank threw in the towel in late April, lowering the price for 9 acres raw land from 190k to 50k. That seems significant to me. That listing is still current if anyone is interested.[/quote]
That sounds like a good deal. My problem is that I don’t trust California. They are going bankrupt and going to be taxing anything that they can. To get anything built on that land would probably be a living hell to go through with the city, county.
How is it zoned? probably best to grow strawberries on it if zoned for that.
