No I have not really looked on sdlookup.com… As sdr said in last weeks short sale post there are two more periods in June that seasonally produce more active listings. It seems quite apparent that we will not reach 2006 levels of active listings. So the jump in actives that you are seeing is not surprising at all.
As for who will buy these homes, I guess we will see. It is always astounding to me how much money is parked out on the sidelines. I looked at a home in Old Scripps this weekend on Oakbend for 799k. Nothing special, but the neighborhood is okay and it is where I want to buy. They had two offers and the home hasn’t been on the market for 5 days yet!! So much for my lowball strategy on that home… So… what can I tell ya. That is but a single datapoint… Funny though because Stonebridge which is a new development in the back of Scripps with million dollar homes built very recently has suffered some serious depreciation as well as NODs…
Getting back to your point though, I am sure some of the million dollar places will sell and plenty of them will not… Depends on where they are, what they are… etc…Again though, the rise in active listings doesn’t surprise me at all.
