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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Check your marketing times... Posted by Ward-CA- on May 25, 2003 at 12:23 AM In Reply to: Buyer's or Seller's market? posted by Zack on May 25, 2003 at 3:19 AM : Hi, : I'm new to RE investing and was wondering if anyone knows the answer to this: : Is southern California currently a buyer's or a seller's market? And does this lead to there being fewer or more bidders at the foreclosure auctions? =•=•=•=•=•=•=•=•=•=•=•= Zack, Think of the real estate market as stratified by price, sort of like a 3 tiered wedding cake. The top level is the Luxury market, the middle tier is the Move-up market and the large bottom tier is the Entry Level market. Here in San Diego entry level is priced from $0—$250,000 while the move-up level goes from $250,000—$500,000 and the luxury level goes from $500,000 on up. At this point in time only the entry level is in a fast-paced Seller’s market. The average marketing times of the move-up and luxury levels are very long and stretched out. But since the entry level makes up for at least half of the total real estate market it seems like we’re in a Seller’s market overall. It’s more difficult to find bargains in a seller’s market. So bargain hunters are forced to go further afield than previously necessary and eventually end up chasing foreclosures. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Hi, : : I'm new to RE investing and was wondering if anyone knows the answer to this: : : Is southern California currently a buyer's or a seller's market? And does this lead to there being fewer or more bidders at the foreclosure auctions? : =•=•=•=•=•=•=•=•=•=•=•= : Zack, : Think of the real estate market as stratified by price, sort of like a 3 tiered wedding cake. The top level is the Luxury market, the middle tier is the Move-up market and the large bottom tier is the Entry Level market. : Here in San Diego entry level is priced from $0—$250,000 while the move-up level goes from $250,000—$500,000 and the luxury level goes from $500,000 on up. : At this point in time only the entry level is in a fast-paced Seller’s market. The average marketing times of the move-up and luxury levels are very long and stretched out. : But since the entry level makes up for at least half of the total real estate market it seems like we’re in a Seller’s market overall. : It’s more difficult to find bargains in a seller’s market. So bargain hunters are forced to go further afield than previously necessary and eventually end up chasing foreclosures. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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