Are there any real estate steals in Calaveras County? (Stockton: bank owned, foreclosures)

[family first]

Wondering what the thoughts on finding a nice home in this county now that real estate has been in the cr%^$# the last two years? Some of the more appealing towns in this county have been price restrictive before the crash, but now are there some deals out there? If so, which towns would be the best to start my search? Homes seem to break down in price categories when you hear about some price ranges moving while others do not. Which of these price ranges have the best deals right now: Over $1,000,000 above $400,000 or the above $200,000 price ranges? I see a lot of bank owned or foreclosures on signs, but are they really dropping prices or staying at an unreasonble asking price? Which town or towns in Calaveras County are the most appealing to you and for what reasons? Thanks!

[DMenscha]

Valley Springs and Copper are the places where the best deals are to be found. Since they both were sort of bedroom communities for Stockton, the economy kind of hit them hard. There are some dogs out there in those areas, but some real gems come through just about every week. Prices have continued to drop but at a smaller rate. I see my mortgage broker over in Murphys has 4.5% mortgage rates with 1 point too. Jumbo loans at 5.25%.

There are some amazing values in the over 400K range as there have been darn few buyers in that price range. In the past year 1056 homes were sold in the county and only 66 were listed at $500k or higher. In my major market area in mid county, we haven't seen a buyer looking for anything over 300K in at least 9 months!