Mid November Real Estate

Mid November Comments

As the old saying goes, where you stand on an issue depends upon where you sit -- and when someone is going bad they think the world is going bad...

Jean and I have been working North Poway and Rancho Bernado and we are doing well -- so we would naturally think the "market" is doing well. We have seen the Zip Code 92128 market go from 230 listings to 197, and many of those are actual sales. We had just four people through an Open House in an early November Open House, which is not bad for a Saturday -- and more importantly three of the four were semi-serious. Right now we have $2.2 million in Escrow.

BUT, Hidden Meadows is still dead, and it will remain so at least until March. The RB market has to decrease the inventory substantially before HM gets to its feet.

Last month I thought that time for HM would be almost 18 months away, but I think now that it is POSSIBLE for that turnaround to be as early as March.

Buyers have been out of the market for months, but people who could hold off buying for months may not be able to hold off for years. cannot wait forever. People who commute and need new and closer housing cannot wait forever. People whose fortunes have changed and can now move from a condo to a single-family home cannot wait forever...

There is some pent-up demand. How much and how soon, we don't know, but at least there is a change in the RB market...and we can only hope for a change in this market in March...