Yes it is. THe higher price point is taking longer to sell because of a restriction on capital and access to loans in the amounts needed to buy there. Another factor we are seeiong is people are losing jobs, getting cut back and moving to other parts of the country to work.
So you have homes stating on the market longer and people moving around due to economic turmoil hence the number of homes on the market. Will it be enough to put downward pressure on prices? Depends on the need level of the sellers.
It is a very good time to be a move up buyer. Selling a home in a moderate priced neighborhood where borroweres can access the higher loan limits and using the equity to buy in the Wood is the ticket.... more
I believe that all earthquake insurance in California is handled by the state. You need to buy it through your insurance agent, but the premiums are set by the state. You can see what you would have to pay by using this calculator. http://www.earthquakeauthority.com/
I hope this helps.