I wonder what the bottom will be in this area. $125 per sq ft? 32% cheaper?
The decline will meet some resistance if and when larger houses like those two start going for 420-450k. So you can put 10% down and get a conforming loan on the rest. Imagine getting a new 3400 sf house for 2500/month fixed. Also imagine what it’ll do to resale values in older neighborhoods.
For now, though, I’d like to see the whole market come down to $150/sf. Just over one month ago, 1233 Pinehurst Rd (5/3, 3000 sf) sold for 710k. 1308 Silver Hawk was already listed for 616k.
