Gammaguy

I'm 34, have a BA in Econ from top 20 US undergrad and a ms in stats from top 10 US grad program. I had average grades and a good GRE scores at the time. I have been out of school for 9 years, and would like to go back for a PhD in ECON. I'm no longer interested in a top ranked program and would like to apply to schools (i.e. lower ranked UC schools) that are near my hometown. Is this realistic or should I think about doing another masters? edit: I have outdated, but very good LORs