I live in Fallbrook. We have a 3,250sf custom on 1.19ac that we purchased in 2003 for $425k. During the height of the boom, it went as high as $810k (I had it appraised just for the heck of it), before settling back down into the low $600s recently.
If this guy thinks he is going to get $850k for a 1,900sf house in this market, he is clearly out of his tree.
BTW, Bugs, Morro Hills is a very tony neighborhood (it abuts Bonsall and Rolling Hills Estates), so you should factor that in when comparing homes in the Fallbrook area. “In town” carries less cachet than the outlying areas (like Morro Hills), or Bonsall. Just my $.02.
