Your 10, 10, 20 logic is mind-boggling. Where did you get that one?
I also seriously question the notion that north county sales prices are at 2004 levels. I am not aware of any data to actually support this one:
1. I have actively looked in the north county market for the past year. For any house that I find interesting I’ll look up previous sales data. It is exceedingly rare that prices are even in the same ballbark as two years ago.
2. Jim the realtor’s own website contradicts the notion. Look at the page entitled Statistics 2006 — monthly. This page compares the median sales prices for 2003, 2004, 2005 and 2006. Unless I’m missing something, the median sales prices for every single month of 2006 is significantly higher than 2004.
For the record, I’m not a homeowner, I’m not angry and I do believe that house prices will go down over the next several years.
