The inventory is extremely picked over, and any house within 5% to 10% of being right on price has sold - leaving only the junkers, bad locations, and OPTs (see video). When a hot new listing hits the market, it really stands out - making buyers jump. The wild and...
This Sunday night you'll find me and a couple of lawyers near the front of the stage at the Belly Up Tavern for X and the Blasters - don't miss it:
From the latimes.com: Southern California home buyers have pulled back, purchasing fewer single-family homes in October as they struggled to afford houses that have jumped in price this year. They didn't, however, lose their appetite for condos. Changing cultural...
As more inventory hits the housing market and buyers rebel against rising home prices, the real estate market is likely to shift from seller dominance to one that is more counterbalanced by buyer reluctance to acquire homes deemed too expensive. The tighter inventory...
Reader avgjoe took exception to the whole idea of foreclosures in this environment. Yesterday he said, "There are still people around me getn a free ride after 5 years. The banks have limited inventory by not foreclosing on people hoping for a bigger payday. Lets get...
From the latimes.com - an excerpt: Pro Teck Valuation Services, a national appraisal firm in Waltham, Mass., recently completed research in 30 major metropolitan areas that dramatically illustrates the point. All of the fastest-rebounding markets in October — those ...
Almost half of the active inventory is over $2,000,000 (397 of 834, or 48%), yet only 27 sold in the last 30 days vs. 135 sales closed under $2 million. The only real shortage is in the Under-$800,000 group, where there is only 79 houses for sale in an area of...
More tidbits from around town:
I blew the Case-Shiller report on Tuesday, and didn't figure it out until now. Month M-O-M Y-O-Y March ’13 +2.0% +12.1% April ’13 +2.8% +14.7% May ’13 +3.2% +17.3% June ’13 +2.8% +19.3% July ’13 +2.0% +20.4% August ’13 +1.8% +21.5% September ’13 +0.9% +20.9% From the...
