TG: I have remembered in recent posts that you have said things like “Temecula will be $100 per sqft or less”, and “anything that isn’t at least half price off is a rip off”. .. and I agree, but none of those properties really come close to either criteria.
You said… “If the rest of the market meets these in the “new 200’s” I’ll be itchy to call bottom.”
Would you really let reaching a “seemingly low price” determine the bottom? I would personally look at other factors such as the amount of inventory, # of credit worthy buyers, state of the economy (specifically local), and home prices to rents/incomes instead. I’ve seen homes quadruple in value over 10 years. Just because they have fallen nearly 50% doesn’t mean they can’t fall more.
