tag:blogger.com,1999:blog-8281158.post1678346409981023621..comments2009-10-28T21:18:56.524-07:00southoctrackerhttp://www.blogger.com/profile/14078251154400696498noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8281158.post-51203811257374879222009-10-28T21:18:56.524-07:002009-10-28T21:18:56.524-07:00Anonymous has a good explanation for what was puzzling me also. I have been wondering why we are seeing so much price compression from the upper marked to the lower market. These transient low mortgage rates seem to allow the bottom of the market to be affordibility driven as it always is.<br />I am too much of a novice to understand what sets prices in the 700K+ range.wingnutnoreply@blogger.comtag:blogger.com,1999:blog-8281158.post-17363606934377360362009-10-28T07:02:22.799-07:002009-10-28T07:02:22.799-07:00I got pretty worked up when I read your comment about $372 per sq st in MV vs. $300 in LN, but then you redeemed yourself when you pointed out that there is no stock in LN at this price.<br />I think that&#39;s the big point - it&#39;s tough to find decent inventory under $500K, and it&#39;s the total price that is driving purchases, not the ppsf. Those properties in MV are moving quickly, and the ppsf does end up in the high 300s.Anonymousnoreply@blogger.com