In a nutshell, what I am trying to convey here, is that in areas where sellers can hang on indefinitely (i.e. areas with many “prop-13” owners w/zero encumbrances and few “distressed properties”), the “bottom” has passed. I’m not saying these values will now skyrocket but don’t expect them to go down, either.
There are MANY micro areas in SD County which fit this criteria. It doesn’t have anything to do with current value of these properties. It only has to do with whether they will go down some more. IMO, the answer to this is NO.
