Low End Hopping - High End Slow

Say, the topic of discussion on this OC Register blog sure sounds familiar....

Here's a quote from the Insider Update newsletter we sent out this month:

It's been a wild ride for Real Estate over the last two or three years, but there are some signs that the market is beginning to stabilize. Although the much-reported Median Price continues to drift downward, homes are selling at a faster clip - April was the 13th month in a row of year-over-year sales increases.
One big reason the median price is still dropping is price pressure and less activity on homes over $500,000. Homes priced above the $1,000,000 mark are selling slowly, but for those priced under $500,000 it's an entirely different story. Buyers in that price range are faced with a defacto "seller's market" - reduced inventory, multiple offers, offers above asking price, and intense competition for Bank Owned and "Equity Sellers", as opposed to Short Sales. A few months ago, Bank Owned and Short Sale homes each made up about one-third of the homes for sale, but those REOs are almost gone. Rumours abound of a coming wave of new foreclosures and Bank Owned properties to hit the market, but for now there aren't many to be had.

Want a copy? Just shoot me an email or register at www.leslieeskildsen.com.