There are definitely “townie” hangouts in Fallbrook. Farmhouse Coffee, Cafe Bravo and the Bistro at Jackson Square (which you referenced).
There are some deals, but few and far between. Overall, I think people here are like people throughout San Diego county when it comes to overvaluing their home. The general consensus is that, while there is a downturn going on, things will turn around in ’08 and this will be behind us.
I would strongly advocate waiting at least a year, if not longer (18 to 24 months).
I have family in Wisconsin, Michigan, Minnesota and Illinois, and that is what appealed to me about Fallbrook. Growing up in a small town has certain advantages. And, truth be told, certain disadvantages.
