Spring rally?

[klocs]

I have been looking to buy a townhome (<500K) in CV, Torrey highlands, rancho Penasquitos, scripps ranch area for the last 2 months and in the last 2-3 weeks, there has been a sudden surge in activity and houses seem to be selling really fast (bidding wars, houses going off market in 2-5 days). Is this common during this time of the year-- it being spring buying season? or has the market in these areas for (<500K) kind of bottomed and now everyone is jumping?

Is it advisable to wait?

[Coronita]

Me personally. For a townhome/condo in carmel valley. I would wait. Prices for the better places have already crept up slightly since lows of i think around Nov 08 (where there were a couple of 3/3 townhome reo’s in nice areas for $4xxk…Not so from what I see now)…BUT, there’s also a sheer number of apartment converts…The problem you’ll find is quality. Much more of the underwater attached homes are recent apartment converts and a lot of them are crappy homes. So even if you are able to find something lower priced, chances are it’s not something of quality which you really would want right now anyway.

[Coronita]

Me personally. For a townhome/condo in carmel valley. I would wait. Prices for the better places have already crept up slightly since lows of i think around Nov 08 (where there were a couple of 3/3 townhome reo’s in nice areas for $4xxk…Not so from what I see now)…BUT, there’s also a sheer number of apartment converts…The problem you’ll find is quality. Much more of the underwater attached homes are recent apartment converts and a lot of them are crappy homes. So even if you are able to find something lower priced, chances are it’s not something of quality which you really would want right now anyway.

[Coronita]

Me personally. For a townhome/condo in carmel valley. I would wait. Prices for the better places have already crept up slightly since lows of i think around Nov 08 (where there were a couple of 3/3 townhome reo’s in nice areas for $4xxk…Not so from what I see now)…BUT, there’s also a sheer number of apartment converts…The problem you’ll find is quality. Much more of the underwater attached homes are recent apartment converts and a lot of them are crappy homes. So even if you are able to find something lower priced, chances are it’s not something of quality which you really would want right now anyway.

[Coronita]

Me personally. For a townhome/condo in carmel valley. I would wait. Prices for the better places have already crept up slightly since lows of i think around Nov 08 (where there were a couple of 3/3 townhome reo’s in nice areas for $4xxk…Not so from what I see now)…BUT, there’s also a sheer number of apartment converts…The problem you’ll find is quality. Much more of the underwater attached homes are recent apartment converts and a lot of them are crappy homes. So even if you are able to find something lower priced, chances are it’s not something of quality which you really would want right now anyway.

[Coronita]

Me personally. For a townhome/condo in carmel valley. I would wait. Prices for the better places have already crept up slightly since lows of i think around Nov 08 (where there were a couple of 3/3 townhome reo’s in nice areas for $4xxk…Not so from what I see now)…BUT, there’s also a sheer number of apartment converts…The problem you’ll find is quality. Much more of the underwater attached homes are recent apartment converts and a lot of them are crappy homes. So even if you are able to find something lower priced, chances are it’s not something of quality which you really would want right now anyway.

[SD Realtor]

I cannot comment on the townhome inventory but with regards to detached homes it is about the worst inventory I have seen in quite awhile down in the price range you are talking about. I can honestly say I have never seen PQ so active in that price range. Again, it sounds like you are looking for townhomes so maybe this does not apply.

What you really need to hope for is that the foreclosures that have been getting held up by legislation finally get sold at trustee sale and then get put on the market.

If you want to track what is happening foreclosure market in the county then go to http://www.foreclosureforum.com/stats. As you can see, when you look at the trustee sales the numbers are absolutely abysmal.

Without a drastic change in those numbers we will continue to see the same sort of activity we have been subject to since February. Make no mistake, this is a VERY POOR time to purchase a detached home in many areas that are strapped for inventory.

[SD Realtor]

I cannot comment on the townhome inventory but with regards to detached homes it is about the worst inventory I have seen in quite awhile down in the price range you are talking about. I can honestly say I have never seen PQ so active in that price range. Again, it sounds like you are looking for townhomes so maybe this does not apply.

What you really need to hope for is that the foreclosures that have been getting held up by legislation finally get sold at trustee sale and then get put on the market.

If you want to track what is happening foreclosure market in the county then go to http://www.foreclosureforum.com/stats. As you can see, when you look at the trustee sales the numbers are absolutely abysmal.

Without a drastic change in those numbers we will continue to see the same sort of activity we have been subject to since February. Make no mistake, this is a VERY POOR time to purchase a detached home in many areas that are strapped for inventory.

[SD Realtor]

I cannot comment on the townhome inventory but with regards to detached homes it is about the worst inventory I have seen in quite awhile down in the price range you are talking about. I can honestly say I have never seen PQ so active in that price range. Again, it sounds like you are looking for townhomes so maybe this does not apply.

What you really need to hope for is that the foreclosures that have been getting held up by legislation finally get sold at trustee sale and then get put on the market.

If you want to track what is happening foreclosure market in the county then go to http://www.foreclosureforum.com/stats. As you can see, when you look at the trustee sales the numbers are absolutely abysmal.

Without a drastic change in those numbers we will continue to see the same sort of activity we have been subject to since February. Make no mistake, this is a VERY POOR time to purchase a detached home in many areas that are strapped for inventory.

[SD Realtor]

I cannot comment on the townhome inventory but with regards to detached homes it is about the worst inventory I have seen in quite awhile down in the price range you are talking about. I can honestly say I have never seen PQ so active in that price range. Again, it sounds like you are looking for townhomes so maybe this does not apply.

What you really need to hope for is that the foreclosures that have been getting held up by legislation finally get sold at trustee sale and then get put on the market.

If you want to track what is happening foreclosure market in the county then go to http://www.foreclosureforum.com/stats. As you can see, when you look at the trustee sales the numbers are absolutely abysmal.

Without a drastic change in those numbers we will continue to see the same sort of activity we have been subject to since February. Make no mistake, this is a VERY POOR time to purchase a detached home in many areas that are strapped for inventory.

[SD Realtor]

I cannot comment on the townhome inventory but with regards to detached homes it is about the worst inventory I have seen in quite awhile down in the price range you are talking about. I can honestly say I have never seen PQ so active in that price range. Again, it sounds like you are looking for townhomes so maybe this does not apply.

What you really need to hope for is that the foreclosures that have been getting held up by legislation finally get sold at trustee sale and then get put on the market.

If you want to track what is happening foreclosure market in the county then go to http://www.foreclosureforum.com/stats. As you can see, when you look at the trustee sales the numbers are absolutely abysmal.

Without a drastic change in those numbers we will continue to see the same sort of activity we have been subject to since February. Make no mistake, this is a VERY POOR time to purchase a detached home in many areas that are strapped for inventory.

[sfexporter]

We been actively looking for the past 6 months in CV and can’t believe how many properties were over bid or paid above the listing price. Let’s hope for the foreclosures to kick back in soon or else we will experience another buying frenzy like past years. Can’t believe many are actively buying, with the current economy, along with the high unemployment, I thought it will be the buyers market in SD. I guess not….

[sfexporter]

We been actively looking for the past 6 months in CV and can’t believe how many properties were over bid or paid above the listing price. Let’s hope for the foreclosures to kick back in soon or else we will experience another buying frenzy like past years. Can’t believe many are actively buying, with the current economy, along with the high unemployment, I thought it will be the buyers market in SD. I guess not….

[sfexporter]

We been actively looking for the past 6 months in CV and can’t believe how many properties were over bid or paid above the listing price. Let’s hope for the foreclosures to kick back in soon or else we will experience another buying frenzy like past years. Can’t believe many are actively buying, with the current economy, along with the high unemployment, I thought it will be the buyers market in SD. I guess not….

[sfexporter]

We been actively looking for the past 6 months in CV and can’t believe how many properties were over bid or paid above the listing price. Let’s hope for the foreclosures to kick back in soon or else we will experience another buying frenzy like past years. Can’t believe many are actively buying, with the current economy, along with the high unemployment, I thought it will be the buyers market in SD. I guess not….

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