I would consider waitinghawk a respected bear and his decision to buy was extremely calculated, just in certain markets. He points out that the various areas have different timelines and his choice for a primary residence is a year behind where his vacation home it. I totally agree with his observations, some areas have lost the bulk of their values while others still hold tighter to their 2005 prices. I would be more comfortable buying in Eastlake or Temecula right now than Carmel Valley or Calrsbad because the latter have yet to experience their meltdown and they will have it, just further down the tracks.
My tone has changed from “waiting for the right price” to “waiting for the right house.” But I also want to wait to get to the other side of the spring bounce because the better ones are getting snapped up too quickly right now, I’m in no mood for a bidding war, these shenannigans will end soon.
