It’s been previous obvious to me as a casual observer that the typically middle class markets are seeing a pretty significant increase in inventory (92126- Mira Mesa went from <100 units in the middle of last summer to 180+ now), but inventory increase is kind of expected during this time of year. You are seeing the signs of flipper type properties just based on the listing comments. Flipper properties often tend to have those catchy marketing phrases that bank owned, short sales, and organic properties don't necessary have (dream house, won't last long, upgraded....).
I think it will be interesting to see what happens as the tax credit expires and interest rates move up. The 10 year treasury just hit 4% again today and the fed is supposedly done with Quantitative Easing for the time being. If I was playing the flipping game I'd probably step away for a bit based on what I've heard. Maybe wait for things to settle down a bit and try again in Oct-Dec 2010 for spring 2011. This spring/summer might not act like the typical market at least in the low end/middle. That fringe middle/low end buyer probably sits out until next spring if they don't get in by the end of April. If they can't stretch it to get $8,000 right now they wait for inventory and prices to improve.
