Home Buyer Tax Credit Takes its Toll

[andymajumder]

Glad I pulled out of escrow last week. Lost $350 which I had spend on the inspection….but I think I made th right decision, there have been some price reductions in 92128, 92129 since May 1st and the trend seems downwards.

[sdrealtor]

I dont know where you are looking but along the prime coastal areas I dont see it. I’ve been looking in Scripps Ranch and its not there either.

Just checked 92127 and its not there either. Last year you could find houses in the Westwood area in the mid 400’s. Anything on the market under 500K is sold. Havent looked in PQ as much lately but cant imagine its much better there either.

Inventory is as thin as it has ever been. Sure there is some overpriced inventory on the market. There always is. That pretty much comprises most of the inventory thats on the market today. If it wasnt overpriced or impaired in some way it would be in escrow already.

July and August will likley look worse as what is on the market gets picked through and the seasonal/relo buyers come through the market. We could get some more inventory in early June but I wouldnt count on having a field day as a buyer any time soon. Its getting tougher and tougher to find anice house under $900K and even tougher as you move down in price.

[sdrealtor]

I dont know where you are looking but along the prime coastal areas I dont see it. I’ve been looking in Scripps Ranch and its not there either.

Just checked 92127 and its not there either. Last year you could find houses in the Westwood area in the mid 400’s. Anything on the market under 500K is sold. Havent looked in PQ as much lately but cant imagine its much better there either.

Inventory is as thin as it has ever been. Sure there is some overpriced inventory on the market. There always is. That pretty much comprises most of the inventory thats on the market today. If it wasnt overpriced or impaired in some way it would be in escrow already.

July and August will likley look worse as what is on the market gets picked through and the seasonal/relo buyers come through the market. We could get some more inventory in early June but I wouldnt count on having a field day as a buyer any time soon. Its getting tougher and tougher to find anice house under $900K and even tougher as you move down in price.

[sdrealtor]

I dont know where you are looking but along the prime coastal areas I dont see it. I’ve been looking in Scripps Ranch and its not there either.

Just checked 92127 and its not there either. Last year you could find houses in the Westwood area in the mid 400’s. Anything on the market under 500K is sold. Havent looked in PQ as much lately but cant imagine its much better there either.

Inventory is as thin as it has ever been. Sure there is some overpriced inventory on the market. There always is. That pretty much comprises most of the inventory thats on the market today. If it wasnt overpriced or impaired in some way it would be in escrow already.

July and August will likley look worse as what is on the market gets picked through and the seasonal/relo buyers come through the market. We could get some more inventory in early June but I wouldnt count on having a field day as a buyer any time soon. Its getting tougher and tougher to find anice house under $900K and even tougher as you move down in price.

[sdrealtor]

I dont know where you are looking but along the prime coastal areas I dont see it. I’ve been looking in Scripps Ranch and its not there either.

Just checked 92127 and its not there either. Last year you could find houses in the Westwood area in the mid 400’s. Anything on the market under 500K is sold. Havent looked in PQ as much lately but cant imagine its much better there either.

Inventory is as thin as it has ever been. Sure there is some overpriced inventory on the market. There always is. That pretty much comprises most of the inventory thats on the market today. If it wasnt overpriced or impaired in some way it would be in escrow already.

July and August will likley look worse as what is on the market gets picked through and the seasonal/relo buyers come through the market. We could get some more inventory in early June but I wouldnt count on having a field day as a buyer any time soon. Its getting tougher and tougher to find anice house under $900K and even tougher as you move down in price.

[sdrealtor]

I dont know where you are looking but along the prime coastal areas I dont see it. I’ve been looking in Scripps Ranch and its not there either.

Just checked 92127 and its not there either. Last year you could find houses in the Westwood area in the mid 400’s. Anything on the market under 500K is sold. Havent looked in PQ as much lately but cant imagine its much better there either.

Inventory is as thin as it has ever been. Sure there is some overpriced inventory on the market. There always is. That pretty much comprises most of the inventory thats on the market today. If it wasnt overpriced or impaired in some way it would be in escrow already.

July and August will likley look worse as what is on the market gets picked through and the seasonal/relo buyers come through the market. We could get some more inventory in early June but I wouldnt count on having a field day as a buyer any time soon. Its getting tougher and tougher to find anice house under $900K and even tougher as you move down in price.

[34f3f3f]

I’ve noticed an definite uptick in listings (probably seasonal) in the $800-900k range, in coastal cities such as Santa Barbara, Santa Monica, Laguna Beach, Rancho Palos Verdes, and even a few in La Jolla. Listing to sales seems to hover around the high 90%, and although there are still many price reductions, it may be too early to see changes from the tax credit expiration. It’ll be interesting to see what the summer sales are like. If they are poor, then you’d expect the fall will bring some worthwhile price adjustments, but not in all price ranges, nor in all areas.

[34f3f3f]

I’ve noticed an definite uptick in listings (probably seasonal) in the $800-900k range, in coastal cities such as Santa Barbara, Santa Monica, Laguna Beach, Rancho Palos Verdes, and even a few in La Jolla. Listing to sales seems to hover around the high 90%, and although there are still many price reductions, it may be too early to see changes from the tax credit expiration. It’ll be interesting to see what the summer sales are like. If they are poor, then you’d expect the fall will bring some worthwhile price adjustments, but not in all price ranges, nor in all areas.

[34f3f3f]

I’ve noticed an definite uptick in listings (probably seasonal) in the $800-900k range, in coastal cities such as Santa Barbara, Santa Monica, Laguna Beach, Rancho Palos Verdes, and even a few in La Jolla. Listing to sales seems to hover around the high 90%, and although there are still many price reductions, it may be too early to see changes from the tax credit expiration. It’ll be interesting to see what the summer sales are like. If they are poor, then you’d expect the fall will bring some worthwhile price adjustments, but not in all price ranges, nor in all areas.

[34f3f3f]

I’ve noticed an definite uptick in listings (probably seasonal) in the $800-900k range, in coastal cities such as Santa Barbara, Santa Monica, Laguna Beach, Rancho Palos Verdes, and even a few in La Jolla. Listing to sales seems to hover around the high 90%, and although there are still many price reductions, it may be too early to see changes from the tax credit expiration. It’ll be interesting to see what the summer sales are like. If they are poor, then you’d expect the fall will bring some worthwhile price adjustments, but not in all price ranges, nor in all areas.

[34f3f3f]

I’ve noticed an definite uptick in listings (probably seasonal) in the $800-900k range, in coastal cities such as Santa Barbara, Santa Monica, Laguna Beach, Rancho Palos Verdes, and even a few in La Jolla. Listing to sales seems to hover around the high 90%, and although there are still many price reductions, it may be too early to see changes from the tax credit expiration. It’ll be interesting to see what the summer sales are like. If they are poor, then you’d expect the fall will bring some worthwhile price adjustments, but not in all price ranges, nor in all areas.

[sdrealtor]

Dont know how much you can read into sales figures as it all depends upon inventory and pricing. Low sales could simply mean there wasnt enough saleable inventory or there was a stalemate between buyers and sellers who didnt want to or couldnt accept current market prices. At current prices there are plenty of buyers for quality homes.

[sdrealtor]

Dont know how much you can read into sales figures as it all depends upon inventory and pricing. Low sales could simply mean there wasnt enough saleable inventory or there was a stalemate between buyers and sellers who didnt want to or couldnt accept current market prices. At current prices there are plenty of buyers for quality homes.

[sdrealtor]

Dont know how much you can read into sales figures as it all depends upon inventory and pricing. Low sales could simply mean there wasnt enough saleable inventory or there was a stalemate between buyers and sellers who didnt want to or couldnt accept current market prices. At current prices there are plenty of buyers for quality homes.

[sdrealtor]

Dont know how much you can read into sales figures as it all depends upon inventory and pricing. Low sales could simply mean there wasnt enough saleable inventory or there was a stalemate between buyers and sellers who didnt want to or couldnt accept current market prices. At current prices there are plenty of buyers for quality homes.

[Author]

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