I’m looking at the inventory right now in 92126 condos, and it definitely seems like there’s more inventory. However, I don’t think the inventory is that great, and what people are asking for is sort of unreasonable…. it’s almost as if people are just throwing a big number out there to see if it will bite.
For example, this 2+1/2 condo… $825k? Really absurd.
When I was trying to buy condos in 92126 earlier this year, I was consistently getting beaten by people who were taking out loans and paying a lot more by people who were buying their first home to live in. They were willing to stretch and offer like 5-10% above asking and why I backed out because I didn’t feel comfortable with them as a rental. Couldn’t compete against very motivated first time home buyers or people relocating.
