Yes your dream is very possible. It will depend on how much land you want with that home. If you want 4S then those homes have small lots (comparitively) to other areas in RB or Poway with similar sized homes. Both Poway and RB have a pretty wide variance when it comes to housing. Poway has some very high end homes on very large lots AND it has some pretty grim homes on small lots and plenty in between.
Nonetheless the basic answer to your question is yes and you will have plenty to choose from. In some cases it will take the 30-40% drop you are speaking of and in other cases it will not need to drop 30-40% as some meaningful depreciation has already happened. My sellers just closed escrow on a sale a few days ago in Poway for a smaller home then what you are looking for (low 2000’s sq ft, 5/3) for 565k in a decent Poway neighborhood. That was off almost 20% of the peak that they would have realized had they sold in late 04.
