I’m encouraged by some of the big drops I have seen in LJ. I think a more definitive judgment is coming in 2011/2012 in 92037. I also watch the lower end in LJ and it has been hammered already. The high end should uniformly be down substantially in a few years.
Also, some of the homes I have seen that have been listed at or above peak pricing have undergone some major remodeling since the peak price purchase. FWIW. Not saying the higher prices is justified, except in the owner’s mind.
