Hard to say where it will get to in the short run. Right now the cheapest resale over 3k sf is the Ralphs Ranch listing at 702k and that is new construction. You could see that 600-650k range in another 18-24 months. Maybe even a distress sale here or there but it will get snapped up quick. If we get a real fast interest rate hike or severe unemployment that would help. If the feds bailout some of those distressed homeowners and let them refinance to a lower nut then that will not help. People don’t want to hear that though.
