I do not mean for my posts to be bullish. I am only reporting facts that I see. Please do not interpret them in any other manner.
In many areas prices are actually BELOW 2004 prices. Pretty much condos anywhere fall into that category. Even many many detached homes fall into that category. In my posts I have been consistent in trying to qualify my statements. I will try again…
Scripps Ranch – Very brisk. The active/pending ratio is low and has been that way since January. This is for detached homes.
Parts of 92129 and 92128 – Homes in nicer condition that are in the nicer areas of these areas have gone into escrow very quickly. Why has that happened? I do not know. However I have a few buyers who I have been working with in this area. One in particular who has submitted several offers (lowballs) in the past 3 months and none of them have been taken. Yesterday we submitted an offer on a home in Crestmont (92129) that was a BEATER and had been on the market for 2 days. It already had 3 offers on it.
Same is true for some spots in Carlsbad. I took a very nice couple to an REO property in La Costa (92009) a few days ago and it had only been on the market less then 2 weeks. It is in escrow already as well.
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I can 100% say in all my postings I am consistent and say the market is in a secular downtrend. I also always say that let’s see how the market looks later into the summer. I do not say that I am bullish on the market nor do I ever say this is a great time to buy. Please point to a post of mine where I have said that.
What I have been saying consistently all spring is that certain spots, with certain types of housing, have been quite active. I haven’t commented on the sales price, whether it is higher or lower then 2004 in these active areas.
Please point out to me where I have said that so I can post a retraction on that thread.
