I’m not a big fan of 4S Ranch but the area is great. The inventory levels are horrible so I agree with you there. What price range are you looking at?
Carmel Valley (92130) is going to be more expensive vs. 4S Ranch and some of the communities are really horrible with almost no lots at all or houses so close all your neighbors can see inside of your house (think Pacific Highlands Ranch).
I’m really glad I bought when I did in mid 2011 as the inventory is really horrible now.