Where have all the Houses gone??

When your agent says there aren't many homes to show you, you may be hesitant to believe them because of all the FOR SALE signs you see.  But, you better believe them, because available inventory here in the Menifee has hit the lowest numbers I have ever seen. 

There are currently only 175 ACTIVE residential listings FOR SALE on the market as of 8/22/2012.  And here they ALL are.  (For info on the properties, click on the links below and then click on the "ML#" for details.)

The "Sale Type" is broken down as follows:

118 Standard Sale
            51 Age restricted Senior Homes (55+)
                    http://www.mrmlsmatrix.com/DE.asp?k=1830058XVMcb&p=DE-114770835-685

            67 Family Homes
                    1 property at $99,999 or less
                         http://www.mrmlsmatrix.com/DE.asp?k=1830058XVMcb&p=DE-114769992-687

                    10 properties between $100,000-$149,999
                         http://www.mrmlsmatrix.com/DE.asp?k=929188XD9bB&p=DE-114766752-11

                    21 properties between $150,000-$249,999                              
                        http://www.mrmlsmatrix.com/DE.asp?k=929188XD9bB&p=DE-114767478-206

                    36 properties at $250,000 +
                        http://www.mrmlsmatrix.com/DE.asp?k=929188XD9bB&p=DE-114767945-699

 36   Short Sale
           http://www.mrmlsmatrix.com/DE.asp?k=929188XD9bB&p=DE-114769139-557

19   REO  (bank owned)
            http://www.mrmlsmatrix.com/DE.asp?k=1830058XVMcb&p=DE-114769244-38

2     Probate
            http://www.mrmlsmatrix.com/DE.asp?k=1830058XVMcb&p=DE-114770643-526

1     HUD owned
            http://www.mrmlsmatrix.com/DE.asp?k=1830058XVMcb&p=DE-114770742-4

Although continued rumors about the banks' "shadow inventory" abound, the latest I have heard is that they are waiting until after the elections to release them.  Hmmm... we'll see about that.

In the meantime, Diligence & Patience is key for buyers right now.