I understand market cycles too. I sold out of California in 2004 (a year early, sue me). 🙂
I bought in Austin and have seen nice steady appreciation ever since. Austin is a nice place, reminds me of San Diego in the late 70’s. Sorta small and laid back with a nice vibe and not overcrowded yet.
That said, it’s a little small town for us in the long run, and the market is giving some warning signs here too (increased inventory and DOM – fewer sales – prices steady so far), so we are going to sell and downsize to North Dallas where there is more going on.
I love San Diego, but at the current prices, Dallas is a better option for us. I can visit California whenever I like. And if prices fall far enough, the money we save in downsizing can go towards a house in San Diego at the bottom of the market.
