Okay first off I am pretty bearish on the overall market…
Yet I do have to say that over the past 2 weeks I have noticed an increase in activity. I have two listings that found escrow and (keeping my fingers crossed) am hoping to get an offer on a 3rd one tomorrow that has seen VERY little activity.
Also I don’t have any hard stats but I pretty much browse the MLS nightly as my wife and I track the zip codes where we hope to live. Anyways again I notice a bump up in the number of escrows.
Anyways, I cannot tell you why this is happening… my listings have not done any radical repricing so I am a bit puzzled by it all…
sdrealtor or contraman are you guys seeing any jumps the past week or two?
SD R,
Sorry but I’m not seeing it. In my area things ar just plodding along. Personally, my activity has been normal to a bit slower the last few weeks. I’ve got a couple I got in escrow this Summer that will close soon, but other than that I’ve got a few that are seeing less activity than a month ago. On the buyer side, I have about 6 folks waiting for the right house at what they consider a fair price. Most of these are high end buyer’s (1-2M). They are picky and the homes they are interested have sellers standing on ceremony. All are well qualified but patient which I am encouraging. Once we get closer to Winter some will probably get a bit more motivated. I do have one buyer about the pull the trigger on a very high end home ($3M to $6M). I’m having a great year but most people I know are struggling mightily. The funny thing is I have barely been working as I have been devoting most of my time the last 45 days to a couple new business ventures I am involved in(ughhh…business plans and pro formas UGGHHHHH!)
In my office, our listing inventory is very high and sales are slow. I am seeing lots of reductions and wonder what will happen late Fall as many strong agents who havent seen a paycheck in months pound on their clients for price reductions.
I was checking out Zillow comps for the property I sold last year in August. It seems it has not come down at all, though the comps were a couple months old.
The parts of Clairemont that I know seem to be short on both inventory and sales these days, just by my “driving around” survey. Seems like a real dead market.
Was lots of inventory last Fall, but the for sale signs seem to have lightened up. Also, many of the for sale signs that are up have been there for months.
Someone with MLS info could back this up with real data. This is just my impression.
I think most people believe the market will rebound in the spring. People who don’t need to sell now, may wait to list in the spring. Also, the fall is a seasonal low time for inventory. This year, the inventory could rise if more distressed borrowers decide they need to get rid out from under their loans.
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