Ok, you are right, I called and talked to the salesperson at Biarritz and she confirmed the price drops and that they were in the newspaper. The 100k drop is for specific lots, standing inventory, etc. and not an across the board drop but she said they would deal on any lot so we can interpret it as a 100k drop. She also added that the taxes were 1.4 which is very low for the Temecula Valley. My apologies for being skeptical, I reserve the right to be wrong and I was because I have said before that 20% drops don’t happen in a day and that prices ratchet down over time. In my defense I have also said that there has never been this combination of circumstances with the subprime hangover and crazy appeciation so things won’t follow historical patterns.
