Oceanside, CA - Can you believe this price drop?

I sold my last home (my personal residence) a little over 2 years ago for $495,000. Unfortunately it ended up in foreclosure and just closed escrow for $250,000!!!! That is an extreme example of what has happened here in Oceanside. The beach properties are much more stable, but anything that is entry level was hit hard. As a local Realtor with 90% of my business in Oceanside I have mixed feelings about what is happening. So I have decided to make the best of it and concentrate on helping buyers get a great deal. I am working with more first time home buyers than ever and my move up buyers that don't need to sell are thrilled at the prices.