The only stupid questions are the ones you don’t ask. You are doing your homework first instead of jumping in and THEN trying to justify why you bought in a declining market.
There are many different opinions expressed here on Piggington’s about how far the market will decline – my opinion: in 2009/2010 I expect to be buying rental properties for 1998 prices – that means entry-level single-family homes in Clairemont for about $225-275K in 2006 dollars – well located multi-unit properties (I like 4plexes) for 8-10 times yearly rents – Liberty Station wasn’t built until 2004 so it is harder to estimate a bottom price – I would guess there will be some desperate sellers in Liberty Station letting their townhomes go for $500-600K before this correction is over
