Monday, June 29, 2009

Orange County Real Estate Listings Lowest Since 2005

Hard to believe 2005 was 4 years ago. Wow how long has this recession really gone on? For many it began in late 2005 and those who have stuck it out are beginning to see an opportunity to make a move in the right direction.

Why do I say right direction, well if you were a home seller who in 2005 was thinking about moving up and buying a new home but held off, then you are in a perfect position to take advantage of where the market is today.

As you will note from this attached article the inventory levels today have not been this low since 2005. If you understand the rule of supply and demand and are realistic about where home pricing is then you have the opportunity to find that move up home at buyers pricing vs. at sellers pricing. If you think back 2005 it was all about the sellers!

There is a demand for equity sellers on the current market, why buyers are tired of sitting on the fence and realize that benefits such as the $8000.00 tax credit low interest rates will not continue forever. In addition, many buyers are tired of dealing with banks and putting offers in on short sales that fall through for no other reason then the banks can not get their acts together.

So, thinking about selling your Portola Hills home and wondering where the market currently is, contact Kelly for a complimentary market summary. As of today Portola Hills has less then 1 month of inventory on the market. The demand is highest on the low end properties, i.e. townhomes, but we are starting to see demand in the mid-range single family homes as the condo buyer is ready to take the jump into a single family home.

The goal with any market is to take a personal look at where you are at personally and where your local market is. Remember two things, all real estate is local and It's Possible!
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