I feel these homes are a relatively good value when compared with RB, 4S Ranch, and newer areas in Carmel Valley. Why are those neighborhoods more expensive? Are their schools that much better? Are their crime rates that much lower? So I guess that’s +1 for the neighborhood as a good relative value when compared to similarly featured nice neighborhoods in San Diego.
You asked about predictions for the bottom of the PQ market. Have you considered the shape of the curve at the bottom? Even if you find your perfect house at the ‘bottom’ of the market, how much have you saved?
My advice: be patient. It’s going to be a buyer’s market for a while. I can tell you really like the home, but I don’t think your should feel pressured to buy because of the artificially ‘hot’ market. Remember 8K is 1.6% of 500K, so I doubt the tax credit is a serious factor. Plus, people in PQ generally take good care of their homes.
