[quote=temeculaguy]Parts of vista are fine, if you are in shadowridge you’ll like it, north of the 78 it’s hit and miss but if you like the price, the neighbors and can afford it, why worry? If you don’t have to live in Carlsbad or Encinitas, then it makes sense to look elsewhere where prices have come down considerably. The whole thing is about finding something you can comfortably afford and be happy with, sounds like you did it.
Ultimately this will cause Bug’s butterfly effect to come true. If places ten miles away drop in price significantly and shoppers looking at carlsbad or encinitas will look a town or two away, then ultimately it will put downward pressure on the towns they fled, if this keeps up, CAR and JP will get the price they want and then everyone will be happy.[/quote]
The way things are playing out, it seems more likely than the nicer area will stay flat/slow decrease and the marginal area crash and rebound back up to meet the nicer area in the future. Only time will see.
Here’s an example of the property strictly in MM. Small 1000-1500 sq-ft houses dropped ~40% from peak, larger 1800+ sq-ft dropped ~30-35% from peak. Over the last year, small 1000-1500 sq-ft increased ~15-20%, larger 1800+ sq-ft increased ~5-10%. So, it seems like the smaller homes crashed the hardest and now rebounding the hardest. When things start crashing, the supply of 1800+ sq-ft dried up a lot (most don’t need to sell). Now, the bottom end SFR of MM is closing the gap w/ the higher end. I would have preferred the top end dropping more to close the gap w/ the bottom end, but it didn’t happen.
If this scenario happens all w/in MM, I can see it happen on a larger scale, where school also comes into play. Those who buy in certain area for the school would never consider MM, Vista, O-side, San Marcos, Escondido.
