[quote]Hi FLU, I think Carmel Valley needs to drop another 30% before the numbers make any sense.[/quote]
I agree that Carmel Valley attached markets needs to drop some more to make sense. I’m not so sure it needs to drop the entire 30% though. Though it is more expensive than other areas, I think it probably can command higher rent too. Trying to figure out the sweet spot. I’m just monitoring things right now.
Frankly, I’m looking for things that make sense regardless of neighborhood, provided it’s not *too* far away and not *too* rough of a neighborhood. Despite what some may think, I like MM.
