Zeev's Turnips Patch-No Politics (ZEEV)

[qwave]

For well over a year I have been tracking active listings of single family homes in the 700k-2M range in my zip code, 92127. Currently there are 158 homes on active list. Last year at this time there were 52. Many homes that make it through escrow are selling below the asking range. Starting to see distrested sales. Appears that folks who bought 1-2yrs ago are understanding that they have little or no equity when their neighbors are selling their homes at less than they paid for their own home. Looking a SD County property records there are many people who have 2nd and 3rds on their homes. Again they have little or no equity. -Q