This median business is really misleading as Rich has described earlier. I imagine that many people are feeling good this morning that prices are only down a little bit overall, and even up in a couple areas. If I lived in San Marcos, for example, I would have no idea that there is a fire sale going on in San Elijo, that there are countless neighborhoods where prices are down 10-20% and are not selling, and that there are others with multiple foreclosures. I can point to one home in Silvercrest in San Marcos where a home is discounted to 589k; the most recent 2 x comps are 715k and 725k! Another in Santa Fe Hills comps at 650k and is discounted to 550k.
