waitingpatiently,
You are looking in my backyard (actually your kids would love my backyard) and I own exactly what you are looking for. I would venture to guess that there is no one in this area (agents or otherwise) that knows that area better and has been more on target with predictions for this area over the last 5 years (both up and down). For the record, I have been on this site over 2 years. I pointed out a peak 950K for a decent newer 4/3 with 2500 to 3000 sq ft a couple years and called for a 30% fall bringing these homes down to about 675K at the bottom which I predicted would come between 2010 and 2012. So far everything has proceeded exactly as I expected. No one has stuck their neck out further than I with specific predictions for a specific area.
With luck you could get a decent newer 4/3 with at least 2500 sq ft and everything you are looking for between 775K and 800K today which you already know. Next Spring, I believe it will be possible to find that for 750K. Beyond that it will all get dicey as the last 50K to 75K bleeds out between late 2009 and 2012.
The real problem will be finding the home you want at those price levels and not just any house. Demand would be very high for homes like this if prices dip below 700K. Lowballing will get you a house but it might not get you the one you seek. IMO, Getting the one you really want will take the ability to recognize the right one and the willingness to strike when you find it.
All this of course is just my opinion. Take it for what its worth……………
