I won’t look at it until it returns to price below $750s range.
You want to start a bidding war now, masayako? 🙂 Barring any kind of disasters, natural or manmade, I doubt price will ever drop to that low. That kindof percentage decline is unlikely to happen in CV imho. Tract homes or not, I think CV has established itself as one of the best areas in San Diego over the years mainly due to its location and schools.
With that said, I do think prices in CV will eventually decline. However, the decline will be relatively small and perhaps with most of the decline happening towards the end of the cycle. So the real decision for people waiting to buy CV is: is this worth the wait?
Also keep in mind that price may not decline much in nominal terms due to inflation. Most people on this board think home prices in 1998 are reasonable. Prices in CV have probably doubled since then. If you also happen to believe 2012 will be the bottom and assuming prices stay flat until that time, then prices have only doubled in 14 years, which comes to an annualized appreciation of just under 5.1%, quite reasonable given the current inflation numbers, don’t you think?
