Selling in Orange County/Rancho Santa Margarita

[Wendy Black]

Slowdown or bubble right now?

We took our condo off the rental market and put it up for sale some 75 days or so ago, adjusted the price twice, and haven't gotten a single serious nibble. We're about to put it up for rent, again, albeit for a bit more than it was renting before. Keeping it on the MLS just in case a buyer wants it first.

I read the average time on market is up to 66 days and that sales in September dropped 24% from what they were a year ago.  Any predictions how long this situation could last?  We were going to sell it and transfer the money into notes.