I agree with your post CAR, although I would say that it will be harder to get to the 2001 price levels on the lower end of spectrum because those prices are more interest rate dependent and there is much more buyer competition.
As a good example of that look at North Park. Houses in that neighborhood are flying off the shelves because apparently they are priced in the sweet spot of the market which because of the ultra low interest rates of today is considerably above 2000-2001 price levels.
The other key to getting top dollar in this market is to be selling a turn-key property. People want to take advantage of the low interest rates and will pay a lot of $$$ for a move-in ready house but many are not at all interested in a fixer even if it is in a much better location.
Thus, I think in this market there is tremendous opportunity in the over 1M market and also I believe some opportunity in the middle price ranges if you want to take on a project.
As a good example of the “project” type of buy in your neck of the woods consider this sale:
