[pbs911]

Having been actively looking at the market for the past two years, I can see there is very little change. The homes are sitting on the market a little longer in my neighborhood, but that is normal for this time of year. I also think people are sitting back thinking the values have to drop. All this does is let the home sit on the market a little longer. The homes are eventually selling for more than similar homes sold for 6 months ago. Once spring comes around I anticipate you will begin to see multiple offers at or above asking price again.

With a 5.76% 30 yr mortgage rate, it is still a good time to buy. Until people start leaving So Cal faster than they are immigrating, I don't see why the prices would go down - its basic supply and demand. And if you want to live here, you have to pay.

After looking at buying a new home for the past two years my wife and I finally had an offer accepted on a new house. It's about 1/2 mile from our current one, but double the sq footage. We did get a "good deal" as the couple were going through divorce and had gone through a bankruptcy about four years ago. Saved about 5% off the listing price. However, we were very limited in our bargining power to correct items that turned up in the inspection because of other interested buyers. A homes across the street is listed at $1.4m.

Anyone interested in an uprgaded 2bd, 1 bth PUD in the Newport Beach Bluffs? Its listed at $599k. And that is the least expensive listing in the bluffs.