Posting this here, as there is no "outside OC RE" forum. I scan redfin daily just to keep tabs on a couple of very small areas I have a particular interest in within LA county. In any given week, I might see 1 or 2 new listings pop up. Today there were 6. To put that in perspective, there are 18 SFRs for sale total; 1/3rd of that came on the market today. Granted this is a small sampling population. Any similar bump in activity that you're aware of?
As a side note, a few weeks ago I had reason to chuckle a bit and thought to myself, "That's it; this bubble is over". A house that was for sale (standard) closed on Friday (5/15) at just over $450k. On Tuesday (5/19) the same house went back on the market at just under $550k. You will be challenged to find a more raw flip than this. The listing went into escrow within 2 weeks. The flipper might barely have any carrying costs and is looking to make ~80% ROI in maybe 6 weeks.
As a side note, a few weeks ago I had reason to chuckle a bit and thought to myself, "That's it; this bubble is over". A house that was for sale (standard) closed on Friday (5/15) at just over $450k. On Tuesday (5/19) the same house went back on the market at just under $550k. You will be challenged to find a more raw flip than this. The listing went into escrow within 2 weeks. The flipper might barely have any carrying costs and is looking to make ~80% ROI in maybe 6 weeks.
