Popcorn Theory in effect. JP, little history for you, about two years ago I was constantly lamenting on the boards that all of the price slashing wasn’t taking place in the heart of Temecula, it was all 20 miles North of Temecula. South Temecula was holding up, then one popped up 10 miles away from where I wanted to be, then another, then 5. Six months later, one crazy priced one popped up in my hood, then another, then five more, then fifty more. It was like microwave popcorn, and the Popcorn theory was born. It moved like a virus or a train, hence, the Pain Train Theory. A similar thing was taking place in Eastlake at the same time. Many people thought downtown, Northpark, Southpark, South Bay and East County (already started) would be the next to be affected and it is very possible that you found the first kernal that popped in that area, keep watching, it’s fun. One tip, if it is the beginning of the Popcorn theory, the first to pop are usually crappy properties, this 600 sq ft, built in 1923, fits that description. The next one may be tolerable, but stay patient because when the bulk of the popping happens, the nice places get mixed in. Bon Appetit.
