Tuesday's Caravan

We're supposedly swimming in inventory, thousands of foreclosure notices and re-setting mortgages have combined to create listings by the bushel. Properties are being hocked on street corners like bean pies, hot house roses, or illegal fireworks.

On Monday I leafed through the MLS open house guide, hoping to set a Tuesday caravan itinerary, maybe split between a couple of clients and numerous new and repeat listings. Nothing. In all of area 16, my epicenter, not a solitary open in the guide, and only one single-family open in area 17 (Mid-Wilshire). In area 19 (Beverly Center, Miracle Mile), nothing was featured under $1,139,000.

I'm not claiming all is good in the real estate world, ignoring the grey financial markets, and the sub-prime submergence, down the rabbit hole, into the looking glass, and off to see the wizard. Still, I have to guffaw when people bleat-on about inventory and scads of sales signs. Despite the media broad-brush there are entire neighborhoods without a single offering of undisputed quality or value, others with strong sales and rising prices. (Insert my usual disclaimer here: I have no idea what's on the bluffs or by the bay.)

"Buyer's strike" or no buyer's strike, there just isn't that much good available, even if that which is good is taking a little longer, in some instances, to sell. Maybe that's just my conservatism. Maybe I'm on strike too.