I think you are going to see some activity in the area’s that have been hit the hardest. I don’t see this as being at or near the bottom, but this is going to put pressure on the more centralized sought after areas. Temecula, Chula Vista and other hard hit areas are becoming bargins compared to the Coastal and Central areas. You should start seeing some bargin hunters looking for a good deal in the less desirable areas that have the most price declines. You may also see some condo action as they are coming closer to being cash positive rentals.
