SD R– to answer your question, back when I originally started looking, it was 92127, but that has slowly (quickly?) expanded to include surrounding areas like Poway, Scripps and newer PQ. Then to west CV, CV proper and up the coast as well.

The reason I’ve expanded my search areas isn’t due to a dearth of inventory, but simply because more and more properties are within (or at least approaching) reach. Still stupid in many cases, but heading the right way.

Now, I’m not saying inventory hasn’t decreased because it has, but there’s still a lot out there. I could buy a nice house _today_ that is so much less expensive than it was when I first started looking in 2006. I only need one house.

Also, with regard to your comment that a lot of what I “see” is shorts and REO, I don’t disagree. I also agree that some of them you’re not going to be able to buy tomorrow, but if you’re patient (and why shouldn’t one be), you can just keep pecking away. Some of these that they aren’t taking any more offers on, don’t get sold to anyone, at least not yet. So, like the terminator, they’ll be back.

Finally, what I think, perhaps, you and others are seeing are buyers who just aren’t willing to settle. The house has to be pretty much perfect *and* at the right price. The problem is that the right price is a moving target. That is, for me (for example), there indeed is no inventory.