Me personally. For a townhome/condo in carmel valley. I would wait. Prices for the better places have already crept up slightly since lows of i think around Nov 08 (where there were a couple of 3/3 townhome reo’s in nice areas for $4xxk…Not so from what I see now)…BUT, there’s also a sheer number of apartment converts…The problem you’ll find is quality. Much more of the underwater attached homes are recent apartment converts and a lot of them are crappy homes. So even if you are able to find something lower priced, chances are it’s not something of quality which you really would want right now anyway.
