I agree with your excellent assessments of RSF. I have been also watching this area. I am particularly interested in Santaluz but agree that this area is overpriced. I can’t help but think there won’t be a strong downward pressure on price as the “investors” realize they are losing money with each passing month when there is no home appreciation (and certainly with depreciation). The monthly burn rate is pretty high given the MR, HOA and loan carrying costs. The flame burns even brighter if you have even a basic club membership. It is already well documented from this site the NOD’s in some of the lower priced homes in Santaluz. Right now, those prices in Santaluz just dont pass the olfactory test………
