It will be difficult to determine the frenzy velocity because you will keep seeing eye-popping sales that make you think that the market is still on fire. This is where evaluating the features of each house will come in handy. The high-value targets - great...
What makes me think the frenzy is slowing down? 1. List prices have gone from 'exuberant' to "hit-the-lotto" range, generally speaking. Have you seen it too? It's not enough to just get more than the last guy, some sellers list so high that they must be thinking of...
Looking for a break in the frenzy? Keep an eye on the active inventory. We've considered a 2:1 ratio to be a sign of a healthy market. Since April 29th, the UNDER-$1.2 market has stayed red hot with 87 new listings and 78 new pendings (1.16:1), and the OVER-$1.2...
Pete was wondering if this is a good time to buy a house in Carmel Valley for $1.0 to $1.2 million. We know it's been hot all around the 92130, so let's examine the market data higher up to see if there are any threats from above. In the first half of 2012, there...
Prices are moving up rapidly on the lower-end of each market. People complain that there is no inventory, but part of the reason is that sellers are pricing much higher. Buyers in the mid-to-higher-end of each market will get a smaller house or yard, but those on the...
From the sddt.com: San Diego’s home prices are increasing by double-digit percentages — but local professionals say it’s not like the bubble of the early 2000s. “It’s still an underpriced market relative to rents, relative to incomes,” said Christopher Thornberg,...
An excerpt from HW: Any homebuyer on the market right now will tell you the crowd of buyers and multiple offers are creating a challenge. Those in search of distressed homes owned by the U.S. Department of Housing and Urban Development are not immune to this...
Not all bidding wars are the same. It is critical for the agent to properly access the buyer pool - to track both the actual and potential buyers - and the intensity of their pursuit. The frenzy is not constant and predictable - get good help!
Rich is the king of graphs, and here are two from his latest at Piggington: The median-price-per-square-foot since the 2009 trough: OK, you can probably ignore the huge spike in the condo psf, as the condo series tends to be all over the map. But how about that (much...
Will the frenzy continue? NSDCC sales have had an inverted relationship with the inventory. When plenty of homes are coming to market, buyers are picky and sales are slower. As inventory got tighter, sales increased. In particular, look at March, 2012 - it was the...
