gut feeling

[CA renter]

Based on what I’m seeing, your gut feeling is absolutely correct.

I’ve been watching certain areas in SD County and LA County for many, many years. It’s subtle, but there has been a shift, IMHO.

It looks like there’s been a pretty big change in the parts of LA that I’m watching, as well as some parts of San Diego (more visible and drastic in LA at the moment, but it does seem to be happening here as well).

I’ve also heard the same from some people in other parts of the country.

Been on the double-dip bandwagon since the beginning, and think it’s about to begin. It looks like the market is getting very top-heavy and is about to compact everything below it.

[no_such_reality]

I’m watching select parts of OC and I’m seeing the opposite. Prices, particularly asking prices, are going the other way. The few sales, that’s the key, are relatively flat or slightly up based on the surge of tax buys. Otherwise, when the sellers don’t get their wishing price, they just take it off the market. The banks just look at the comps from the last six months and that’s the price.

It’s a very stagnant market from a price standpoint. The only exception are the equity sellers that command a premium for being able to actually sell.

[no_such_reality]

I’m watching select parts of OC and I’m seeing the opposite. Prices, particularly asking prices, are going the other way. The few sales, that’s the key, are relatively flat or slightly up based on the surge of tax buys. Otherwise, when the sellers don’t get their wishing price, they just take it off the market. The banks just look at the comps from the last six months and that’s the price.

It’s a very stagnant market from a price standpoint. The only exception are the equity sellers that command a premium for being able to actually sell.

[no_such_reality]

I’m watching select parts of OC and I’m seeing the opposite. Prices, particularly asking prices, are going the other way. The few sales, that’s the key, are relatively flat or slightly up based on the surge of tax buys. Otherwise, when the sellers don’t get their wishing price, they just take it off the market. The banks just look at the comps from the last six months and that’s the price.

It’s a very stagnant market from a price standpoint. The only exception are the equity sellers that command a premium for being able to actually sell.

[no_such_reality]

I’m watching select parts of OC and I’m seeing the opposite. Prices, particularly asking prices, are going the other way. The few sales, that’s the key, are relatively flat or slightly up based on the surge of tax buys. Otherwise, when the sellers don’t get their wishing price, they just take it off the market. The banks just look at the comps from the last six months and that’s the price.

It’s a very stagnant market from a price standpoint. The only exception are the equity sellers that command a premium for being able to actually sell.

[no_such_reality]

I’m watching select parts of OC and I’m seeing the opposite. Prices, particularly asking prices, are going the other way. The few sales, that’s the key, are relatively flat or slightly up based on the surge of tax buys. Otherwise, when the sellers don’t get their wishing price, they just take it off the market. The banks just look at the comps from the last six months and that’s the price.

It’s a very stagnant market from a price standpoint. The only exception are the equity sellers that command a premium for being able to actually sell.

[scaredyclassic]

Temecula murrieta 400-600k. Lots of recent price reductions

[scaredyclassic]

Temecula murrieta 400-600k. Lots of recent price reductions

[scaredyclassic]

Temecula murrieta 400-600k. Lots of recent price reductions

[scaredyclassic]

Temecula murrieta 400-600k. Lots of recent price reductions

[scaredyclassic]

Temecula murrieta 400-600k. Lots of recent price reductions

[pemeliza]

My observations in my area are the same as the OP. The bank properties are mostly overpriced and are sitting. Motivated sellers are starting to undercut the banks and the recent comps. Inventory seems to be spiking at exactly the time when buyer interest is waning. I feel like certain sellers are starting to pick up on this trend and are making their way to the exits hoping to get out before the herd panics.

[pemeliza]

My observations in my area are the same as the OP. The bank properties are mostly overpriced and are sitting. Motivated sellers are starting to undercut the banks and the recent comps. Inventory seems to be spiking at exactly the time when buyer interest is waning. I feel like certain sellers are starting to pick up on this trend and are making their way to the exits hoping to get out before the herd panics.

[pemeliza]

My observations in my area are the same as the OP. The bank properties are mostly overpriced and are sitting. Motivated sellers are starting to undercut the banks and the recent comps. Inventory seems to be spiking at exactly the time when buyer interest is waning. I feel like certain sellers are starting to pick up on this trend and are making their way to the exits hoping to get out before the herd panics.

[pemeliza]

My observations in my area are the same as the OP. The bank properties are mostly overpriced and are sitting. Motivated sellers are starting to undercut the banks and the recent comps. Inventory seems to be spiking at exactly the time when buyer interest is waning. I feel like certain sellers are starting to pick up on this trend and are making their way to the exits hoping to get out before the herd panics.

[Author]

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