You are absolutely right that there are inherent flaws in using median values. I would imagine that the only thing worse is blind acceptance of someone’s anecdotal information as fact.
Sure, it is possible to find an example of an occassional house selling at 2004 levels. However, I absolutely do not think this is representative of the north county market as a whole at this time. As a potential buyer I would love for houses to have fallen that low. I just don’t think that is reality…yet.
