Catherine Spearnak 5:30 p.m., May 5
Encanto, Otay "Hot" Markets -- Well, Sort of
The Wall Street Journal today ran a list of U.S. zip codes in which home sellers are receiving offers that are beating their asking prices. Generally, they are areas where there have been a lot of foreclosures, and houses are offered at low prices. Fifth on the list is Encanto, where sellers are getting 103.31% of their asking price. Eighth on the list is the 91913 zip code in eastern Chula Vista, which includes Otay Ranch. Sellers are getting 102.52% of their asking prices. The top market is Youngtown, Arizona, where buyers are getting 111.08% of asking prices. San Pedro, New Haven, and Oakland, California, are the next three.