Very nicely done. 

That issue of what a reasonable cap rate is always does rear its head, doesn't it?  I'd like to learn more about what's reasonable and how to determine it.

We've hit a point in Sacramento where many areas are witnessing sharp upswings in year-on-year unit sales.  Unit  sales in 95828 and 95829, for example, have increased 172%!  That area saw the kind of price decline that you quote for Stockton.  Other areas are seeing unit volume increase more modestly, but on the whole I think we're at the price where demand will continue to stay strong.