High Priced Inventory?

[NotCranky]

Pigg Realtors adn others who follow inventory trends, Do your see see any evidence of high priced inventory being cancelled or expiring more rapidly than in recent times? What about as compared to the same activity for lower priced listings?

[XBoxBoy]

Russell,

I follow La Jolla inventory pretty closely, and to be honest I’m not seeing much change there. The only difference that I see now is that inventory is down from end of last summer, but I believe that is typical seasonal fluctuation.

In general, for the last three to four years La Jolla has seen a lot of places that come on the market, languish, and then are removed without selling. A small percent has gone into foreclosure, but the number of actual short sales and REOs is still probably less than 20% of the market. (SFRs, not counting the lower priced condos in UTC)

In the last several months, it does seem to me that we’ve seen a decline in ridiculously priced places. I’d guess that there are now enough comps that 2005-2006 prices seem silly even to the sellers.

Hope that helps,

XBoxBoy

[XBoxBoy]

Russell,

I follow La Jolla inventory pretty closely, and to be honest I’m not seeing much change there. The only difference that I see now is that inventory is down from end of last summer, but I believe that is typical seasonal fluctuation.

In general, for the last three to four years La Jolla has seen a lot of places that come on the market, languish, and then are removed without selling. A small percent has gone into foreclosure, but the number of actual short sales and REOs is still probably less than 20% of the market. (SFRs, not counting the lower priced condos in UTC)

In the last several months, it does seem to me that we’ve seen a decline in ridiculously priced places. I’d guess that there are now enough comps that 2005-2006 prices seem silly even to the sellers.

Hope that helps,

XBoxBoy

[XBoxBoy]

Russell,

I follow La Jolla inventory pretty closely, and to be honest I’m not seeing much change there. The only difference that I see now is that inventory is down from end of last summer, but I believe that is typical seasonal fluctuation.

In general, for the last three to four years La Jolla has seen a lot of places that come on the market, languish, and then are removed without selling. A small percent has gone into foreclosure, but the number of actual short sales and REOs is still probably less than 20% of the market. (SFRs, not counting the lower priced condos in UTC)

In the last several months, it does seem to me that we’ve seen a decline in ridiculously priced places. I’d guess that there are now enough comps that 2005-2006 prices seem silly even to the sellers.

Hope that helps,

XBoxBoy

[XBoxBoy]

Russell,

I follow La Jolla inventory pretty closely, and to be honest I’m not seeing much change there. The only difference that I see now is that inventory is down from end of last summer, but I believe that is typical seasonal fluctuation.

In general, for the last three to four years La Jolla has seen a lot of places that come on the market, languish, and then are removed without selling. A small percent has gone into foreclosure, but the number of actual short sales and REOs is still probably less than 20% of the market. (SFRs, not counting the lower priced condos in UTC)

In the last several months, it does seem to me that we’ve seen a decline in ridiculously priced places. I’d guess that there are now enough comps that 2005-2006 prices seem silly even to the sellers.

Hope that helps,

XBoxBoy

[XBoxBoy]

Russell,

I follow La Jolla inventory pretty closely, and to be honest I’m not seeing much change there. The only difference that I see now is that inventory is down from end of last summer, but I believe that is typical seasonal fluctuation.

In general, for the last three to four years La Jolla has seen a lot of places that come on the market, languish, and then are removed without selling. A small percent has gone into foreclosure, but the number of actual short sales and REOs is still probably less than 20% of the market. (SFRs, not counting the lower priced condos in UTC)

In the last several months, it does seem to me that we’ve seen a decline in ridiculously priced places. I’d guess that there are now enough comps that 2005-2006 prices seem silly even to the sellers.

Hope that helps,

XBoxBoy

[NotCranky]

Thanks, Xboxboy.
I guess I’ll have to watch these numbers. I have wondered if assisted debt repudiation, AKA principle reduction, would occur more in higher priced houses(in various zips)…and if the hopes of attaining it or an actual offer for principle reduction will show up in shifts to inventory.

Just curious about where the principal reduction will show up, if it does. Maybe I should have made that my thread.Those kinds of discussions will trickle into Piggington’s if it happens. I have a suspicion that it will favor higher priced houses for one reason or another.However, for all I know it will be amnesty in Indio.

[NotCranky]

Thanks, Xboxboy.
I guess I’ll have to watch these numbers. I have wondered if assisted debt repudiation, AKA principle reduction, would occur more in higher priced houses(in various zips)…and if the hopes of attaining it or an actual offer for principle reduction will show up in shifts to inventory.

Just curious about where the principal reduction will show up, if it does. Maybe I should have made that my thread.Those kinds of discussions will trickle into Piggington’s if it happens. I have a suspicion that it will favor higher priced houses for one reason or another.However, for all I know it will be amnesty in Indio.

[NotCranky]

Thanks, Xboxboy.
I guess I’ll have to watch these numbers. I have wondered if assisted debt repudiation, AKA principle reduction, would occur more in higher priced houses(in various zips)…and if the hopes of attaining it or an actual offer for principle reduction will show up in shifts to inventory.

Just curious about where the principal reduction will show up, if it does. Maybe I should have made that my thread.Those kinds of discussions will trickle into Piggington’s if it happens. I have a suspicion that it will favor higher priced houses for one reason or another.However, for all I know it will be amnesty in Indio.

[NotCranky]

Thanks, Xboxboy.
I guess I’ll have to watch these numbers. I have wondered if assisted debt repudiation, AKA principle reduction, would occur more in higher priced houses(in various zips)…and if the hopes of attaining it or an actual offer for principle reduction will show up in shifts to inventory.

Just curious about where the principal reduction will show up, if it does. Maybe I should have made that my thread.Those kinds of discussions will trickle into Piggington’s if it happens. I have a suspicion that it will favor higher priced houses for one reason or another.However, for all I know it will be amnesty in Indio.

[NotCranky]

Thanks, Xboxboy.
I guess I’ll have to watch these numbers. I have wondered if assisted debt repudiation, AKA principle reduction, would occur more in higher priced houses(in various zips)…and if the hopes of attaining it or an actual offer for principle reduction will show up in shifts to inventory.

Just curious about where the principal reduction will show up, if it does. Maybe I should have made that my thread.Those kinds of discussions will trickle into Piggington’s if it happens. I have a suspicion that it will favor higher priced houses for one reason or another.However, for all I know it will be amnesty in Indio.

[sdrealtor]

Still waiting for that elusive big chunk outta the higher priced inventory?

[sdrealtor]

Still waiting for that elusive big chunk outta the higher priced inventory?

[sdrealtor]

Still waiting for that elusive big chunk outta the higher priced inventory?

[sdrealtor]

Still waiting for that elusive big chunk outta the higher priced inventory?

[Author]

Posts