Jinx wondered if pricing was going to be flat for a while, and I think it’ll depend on the area in question. Some neighborhoods may look like they are going up in value, and others down.
The low-inventory conditions makes it harder to track the actual trends – either there aren’t enough comps to support a case either way, or the few comps are masking the real story. Plus the shadow inventory of defaulters is haunting the market – will there be a flood of REOs one day, or not?
Let’s highlight a few areas where buyers should proceed with caution.
The mid-Carlsbad market has shadow inventory of a different nature – new product waiting in the wings. Currently there are 150-200 homes underway around the Poinsettia/El Camino Real area, plus Robertson Ranch will add over 1,000 homes once it is built out – that’s a lot of Mello-Roos!
Two weeks in a row with a surfboard in a Porsche – will that be the new ice-cream truck? A bubbleinfo t-shirt to the first person to name that band!