There are some great real estate deals in San Benito County.  There are 125 active single family homes and 17 condos that meet this dollar criteria.  Approximately 80% of the homes under $400,000 are either short sells or real esate owned (bankd owned) which provides tough competition for the howeowners trying to sell their houses. 

My freinds in the mortgage business have been very busy with refinancing recently due to teh interest and loan rate modifications. 

Have you been to an auction lately? Wall to wall people.

I do not think that the market will be going too much lower - I think we are very close to the bottom at this point. With the recent interest rate adjustments and the passing of the economic Stimulis package should help support the current price levels.