doofrat – I have to agree that the loose credit is really the root of this problem and evidenced by what happened once that spigot got shut off. Many people are not qualifying to buy a home. Buyers are out there and there is a demand, but you have to jump through hoops to get it. Only a short time ago, all you had to have was a lemonade or popsicle stand and it was raining free money. That is the difference. That and people buying multiple homes. There wasn’t a “real” shortage/supply. All of it was artificially created.
That said, there are bidding wars happening. This place was initially listed @ 525k. Got so many offers, they raised it to 650k. To be fair, this was the lowest price SFH in PB zoned multi, a couple of blocks from beach.
And also DWCAP said something. I certainly can qualify for 300k on my own. I can certainly buy something downtown or Chula Vista or Temecula. Just because I can, doesn’t mean I will. And also agree w/him on the BOM b/c not qualifying.
I also agree w/Rustico. I am not concerned so much w/granite as location. The only qualification I would give is if they are both in the same location, same price (about) and one has granite (improved) naturally pick the place that is fixed.
