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Originally Posted by pornguy
Property value in Socal is already starting to drop. VERY SLOWLY, and very little, but some people wil homes in the 300k range have had to drop thier prices by 5 and 10k to sell.
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A 300k home in so cal is in the ghetto. Yes its slowly coming down in southern California as homes are staying on the market longer and sellers are forced to drop pricing to create interest. However, this is the slowest buying time of the year, wait until March to assess true market conditions.