On the real estate front, everything is still selling, prices are even creeping up, 10 bids are normal.
In my hood of 685 houses, only one is for sale that isn’t a short or in escrow with the exception fo two organic listings that want 2006 prices. That one house has been on the market for 11 days and more than likely already has offers.
I just ran a redfin of the area south of the 79 and the non short/non escrow properties are as follow for the bigger developments (redfin now allows you to exclude shorts and under contract)
vail ranch- 4 houses
redhawk- 14
wolf creek-6
morgan hill-3
pretty slim compared to about 500 six months ago. In an area home to about 20k and of those 30 listings, 15 are priced at 2006 and the other 15 are probably in escrow and not updated.
It’s been a few months since I called bottom in my area, I’m sticking to it. Model matches in my tract have sold laetely for anywhere between 10 and 20% more than I paid in december, two years from now alot of people are going to owe me a beer.
This story is about the area 20 minutes north of murrieta but it is interesting, the chinese are looking to bring 3300 manufacturing jobs to the area
