sdr: Agreed. However, the drops are happening with greater frequency, and by larger amounts.
I use my purchase in 2003 as a yardstick (the market was accelerating at that point, but not nearly as fast as other parts of San Diego, plus I managed to drive a real good deal with a contractor friend who was in financial difficulties). I paid $425k for a 3,400sf custom on 1.2ac. I use approx $150/sf as a “reasonable” ppsf price, depending on quality. We are starting to get back to that point, albeit less quickly than I thought.
Temecula has some tempting prices, including the nicer areas like Morgan Hill and parts of Redhawk. If TG didn’t live there, I might consider picking one up as a rental.
