There is bubble… I think Mr. Rich’s latest data confirms that.
My antidotal is that there is as well. My wife is very interested in a development in North County but I am not willing to spend that much and become house poor. Nice house though… Here is the price sheet from 2/25 and 4/29
These are not anything different from the other lots. They are not bigger or have better positioning.
Just in two months. I was talking to the sales associate and she said there is a bit of a bubble as well. They are releasing a final phase in June and to prevent people from camping in the neighbor prior to the release they are pre-qualifying people on a first come first served basis. I pressed her about this a bit and she told me that when they initially release phase I, remind you this was recently, they had people camped out two and three days to be first in line.
Sounds like a bubble to me…
But here is another observation… It seems like the bubble is indeed getting houses to the market. In the last couple of weeks houses have been popping up as owners test the waters. Into this there are two categories of homes. Nice slightly over priced homes that move quickly and houses that are way-over priced with granite counter tops that are next to the I-5 that sit forever…
There are some incrediable over valued homes out there…
