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NotCranky.
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April 11, 2010 at 9:05 AM #17333April 12, 2010 at 1:03 PM #538456
XBoxBoy
ParticipantRussell,
I follow La Jolla inventory pretty closely, and to be honest I’m not seeing much change there. The only difference that I see now is that inventory is down from end of last summer, but I believe that is typical seasonal fluctuation.
In general, for the last three to four years La Jolla has seen a lot of places that come on the market, languish, and then are removed without selling. A small percent has gone into foreclosure, but the number of actual short sales and REOs is still probably less than 20% of the market. (SFRs, not counting the lower priced condos in UTC)
In the last several months, it does seem to me that we’ve seen a decline in ridiculously priced places. I’d guess that there are now enough comps that 2005-2006 prices seem silly even to the sellers.
Hope that helps,
XBoxBoy
April 12, 2010 at 1:03 PM #539407ParticipantRussell,
I follow La Jolla inventory pretty closely, and to be honest I’m not seeing much change there. The only difference that I see now is that inventory is down from end of last summer, but I believe that is typical seasonal fluctuation.
In general, for the last three to four years La Jolla has seen a lot of places that come on the market, languish, and then are removed without selling. A small percent has gone into foreclosure, but the number of actual short sales and REOs is still probably less than 20% of the market. (SFRs, not counting the lower priced condos in UTC)
In the last several months, it does seem to me that we’ve seen a decline in ridiculously priced places. I’d guess that there are now enough comps that 2005-2006 prices seem silly even to the sellers.
Hope that helps,
XBoxBoy
April 12, 2010 at 1:03 PM #538577ParticipantRussell,
I follow La Jolla inventory pretty closely, and to be honest I’m not seeing much change there. The only difference that I see now is that inventory is down from end of last summer, but I believe that is typical seasonal fluctuation.
In general, for the last three to four years La Jolla has seen a lot of places that come on the market, languish, and then are removed without selling. A small percent has gone into foreclosure, but the number of actual short sales and REOs is still probably less than 20% of the market. (SFRs, not counting the lower priced condos in UTC)
In the last several months, it does seem to me that we’ve seen a decline in ridiculously priced places. I’d guess that there are now enough comps that 2005-2006 prices seem silly even to the sellers.
Hope that helps,
XBoxBoy
April 12, 2010 at 1:03 PM #539140ParticipantRussell,
I follow La Jolla inventory pretty closely, and to be honest I’m not seeing much change there. The only difference that I see now is that inventory is down from end of last summer, but I believe that is typical seasonal fluctuation.
In general, for the last three to four years La Jolla has seen a lot of places that come on the market, languish, and then are removed without selling. A small percent has gone into foreclosure, but the number of actual short sales and REOs is still probably less than 20% of the market. (SFRs, not counting the lower priced condos in UTC)
In the last several months, it does seem to me that we’ve seen a decline in ridiculously priced places. I’d guess that there are now enough comps that 2005-2006 prices seem silly even to the sellers.
Hope that helps,
XBoxBoy
April 12, 2010 at 1:03 PM #539044ParticipantRussell,
I follow La Jolla inventory pretty closely, and to be honest I’m not seeing much change there. The only difference that I see now is that inventory is down from end of last summer, but I believe that is typical seasonal fluctuation.
In general, for the last three to four years La Jolla has seen a lot of places that come on the market, languish, and then are removed without selling. A small percent has gone into foreclosure, but the number of actual short sales and REOs is still probably less than 20% of the market. (SFRs, not counting the lower priced condos in UTC)
In the last several months, it does seem to me that we’ve seen a decline in ridiculously priced places. I’d guess that there are now enough comps that 2005-2006 prices seem silly even to the sellers.
Hope that helps,
XBoxBoy
April 12, 2010 at 4:52 PM #539074NotCranky
ParticipantThanks, Xboxboy.
I guess I’ll have to watch these numbers. I have wondered if assisted debt repudiation, AKA principle reduction, would occur more in higher priced houses(in various zips)…and if the hopes of attaining it or an actual offer for principle reduction will show up in shifts to inventory.Just curious about where the principal reduction will show up, if it does. Maybe I should have made that my thread.Those kinds of discussions will trickle into Piggington’s if it happens. I have a suspicion that it will favor higher priced houses for one reason or another.However, for all I know it will be amnesty in Indio.
April 12, 2010 at 4:52 PM #539437ParticipantThanks, Xboxboy.
I guess I’ll have to watch these numbers. I have wondered if assisted debt repudiation, AKA principle reduction, would occur more in higher priced houses(in various zips)…and if the hopes of attaining it or an actual offer for principle reduction will show up in shifts to inventory.Just curious about where the principal reduction will show up, if it does. Maybe I should have made that my thread.Those kinds of discussions will trickle into Piggington’s if it happens. I have a suspicion that it will favor higher priced houses for one reason or another.However, for all I know it will be amnesty in Indio.
April 12, 2010 at 4:52 PM #539170ParticipantThanks, Xboxboy.
I guess I’ll have to watch these numbers. I have wondered if assisted debt repudiation, AKA principle reduction, would occur more in higher priced houses(in various zips)…and if the hopes of attaining it or an actual offer for principle reduction will show up in shifts to inventory.Just curious about where the principal reduction will show up, if it does. Maybe I should have made that my thread.Those kinds of discussions will trickle into Piggington’s if it happens. I have a suspicion that it will favor higher priced houses for one reason or another.However, for all I know it will be amnesty in Indio.
April 12, 2010 at 4:52 PM #538607ParticipantThanks, Xboxboy.
I guess I’ll have to watch these numbers. I have wondered if assisted debt repudiation, AKA principle reduction, would occur more in higher priced houses(in various zips)…and if the hopes of attaining it or an actual offer for principle reduction will show up in shifts to inventory.Just curious about where the principal reduction will show up, if it does. Maybe I should have made that my thread.Those kinds of discussions will trickle into Piggington’s if it happens. I have a suspicion that it will favor higher priced houses for one reason or another.However, for all I know it will be amnesty in Indio.
April 12, 2010 at 4:52 PM #538486ParticipantThanks, Xboxboy.
I guess I’ll have to watch these numbers. I have wondered if assisted debt repudiation, AKA principle reduction, would occur more in higher priced houses(in various zips)…and if the hopes of attaining it or an actual offer for principle reduction will show up in shifts to inventory.Just curious about where the principal reduction will show up, if it does. Maybe I should have made that my thread.Those kinds of discussions will trickle into Piggington’s if it happens. I have a suspicion that it will favor higher priced houses for one reason or another.However, for all I know it will be amnesty in Indio.
April 12, 2010 at 7:33 PM #538663sdrealtor
ParticipantStill waiting for that elusive big chunk outta the higher priced inventory?
April 12, 2010 at 7:33 PM #539129ParticipantStill waiting for that elusive big chunk outta the higher priced inventory?
April 12, 2010 at 7:33 PM #539224ParticipantStill waiting for that elusive big chunk outta the higher priced inventory?
April 12, 2010 at 7:33 PM #538541ParticipantStill waiting for that elusive big chunk outta the higher priced inventory?
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