jdsuowner, FYI, different areas rise and fall at different rates/times. Some areas have hit bottom, some haven’t. If you’re thinking of it as a home that you will be in for a very long time, that should factor into the price you’re willing to pay (a little more). You probably won’t find a great house in a great neighborhood for really cheap, but you might find a great house in a great neighborhood that you can afford, and that’s a good thing.
[quote=SD Realtor]At some point investors will set the base due to the return they make on the investment as a rental.[/quote]
I believe this is what happened in the inland empire. My hood (Temecula) hit bottom about the time TG bought, in my opinion. Returns were so good at those prices that they couldn’t go lower, or even stay there for long. Prices then bounced a little due to the tax incentive, but now that that’s gone, they’re settling down to a more reasonable (not crazy low) level.
