As a frequent visitor to Fort Bragg and with an interest in real estate I can give you a fairly educated opinion as to why housing seems slow to sell at present.
The jobs that could qualify you for a $300,000+ loan are not there today. The Ft. Bragg ecomony was largely based on blue collar workers and alot of those jobs have gone away, many of them for good. Arcata has HSU, Eureka has some of that spillover and other industry but they are not doing much better than Ft. Bragg which has a less vibrant economy.
The cost per sq. ft. for a home in Ft. Bragg is too high. The days of $400 sq. ft. for a home in town are over. In the push for the highest commission possible the real estate industry ( with the blessing of the wishful homeowner turned real estate investor ) has done the homeowner a terrible disservice by pricing homes for far more than what they should realistically be selling for. Collusion between these ' professionals' and appraisers has led to a glut of homes that sit unsold driving prices down even further.
The qualifications for a loan to buy anything, much less an overpriced home using a Jumbo Loan, have tightened. I saw people using 5% down to buy $650,000 homes less then 3 years ago. No lending insitution today would even look at you if you came in the door with that proposal. If someone sells a home today that they have owned for less than 5 years ( in California ) they may be lucky to get out of it what they initially put into it and for many this means their 5% initial down payment. You will need 20% down and a good job to get a loan today.
Fort Bragg is isolated, there is not much there to bring in outside buyers and California retirees today are looking elsewhere. Oregon, Texas and the midwest are winning out over the North Coast. Without this influx of new buyers prices in Fort Bragg are most likely going to decline for the foreseeable future.
If you are a potential Ft. Bragg homebuyer be patient, better deals will come. If you are a homseller try to look at the big picture. Price your home relistically, get it looking the best you can and get it sold. There will always be other opportunities.