Weekly Inventory Report discussion board

[sdrealtor]

Here you go Brian. I just want to try to keep it easy to see data week to week.

[sdrealtor]

bump. Please use this to discuss Weekly Inventory Report Take 3

[sdrealtor]

More of the same. Inventory keeps dropping at a time of year it should be increasing. Its worse than the numbers show also. I know that I have full price all cash offers sitting on properties (equity sale not distressed) that are stting in active and should be pending. I have offers on short sales still sitting in active also. Not much chance for downward pressure on prices with these conditions.

[The-Shoveler]

So about how long does it take to get a response from the bank to a full price offer on a short sale these days ?

[sdrealtor]

It depends upon so many things. It could be a month, 3 months, 6 months, a year, 2 years or never. I have stopped guessing.

[Coronita]

bump…

Just looking at the inventory for 92130 from sdlookup…

You have stuff contingent that is SS looks cheap on paper, but a lot of the stuff that is active is overpriced or just plane crap…

Man, if you have a bank trickle 1 or 2 houses every so often, where the hell is the supply?

http://www.sdlookup.com/Real_Estate-Carmel_Valley-Homes_For_Sale-92130

[ctr70]

That supply is likely deadbeat borrowers sitting in their homes for 3 years enjoying the life of no payments. Lot’s of supply just churning in the background. Waiting for their Government welfare in the form of loan mods or principle reductions.

[SD Realtor]

Yep lots of supply in the background. Lots of govt support in the background as well.

So far the score is govt/wall street infinity
joe consumer nothing.

[sdrealtor]

Alot of those deadbeats have been flushed from the system already. Lots more are in process of foreclosure, loan or short sale. The biggest portion of the problem has been digested based upon what I see in our pipeline. The shadow is shrinking every day.

[sdrealtor]

Just ran some preliminary numbers. Looks like inventory is starting to fall even faster.

[bearishgurl]

[quote=sdrealtor]Just ran some preliminary numbers. Looks like inventory is starting to fall even faster.[/quote]

Duh . . . wonder why? Could all those “baby boomers” think their property is somehow “special” . . . . or perhaps . . . currently “artificially undervalued,” lol :={

[an]

[quote=sdrealtor]Just ran some preliminary numbers. Looks like inventory is starting to fall even faster.[/quote]
It’s already the end of March and inventory is actually decreasing. Spring will be very interesting to watch. For MM, where there are 23k households and a population of 74k, there are currently only 95 SFR and 60 condos for sale. That includes contingent listings.

[CA renter]

[quote=sdrealtor]Just ran some preliminary numbers. Looks like inventory is starting to fall even faster.[/quote]

Yep, it’s a very strange year.

I’m glad we bought last year. The inventory situation has got to be excruciating for buyers out there. It’s like 2004 all over again. 🙁

[ocrenter]

[quote=AN][quote=sdrealtor]Just ran some preliminary numbers. Looks like inventory is starting to fall even faster.[/quote]
It’s already the end of March and inventory is actually decreasing. Spring will be very interesting to watch. For MM, where there are 23k households and a population of 74k, there are currently only 95 SFR and 60 condos for sale. That includes contingent listings.[/quote]

That seem to be the trend in the entire 56 corridor region. new listings in my neighborhood are going pending ASAP. Buyers seem to be ignoring the old listings, however.

[sdrealtor]

bump

Yes it is getting interesting. Pressure has to be up on pricing with these kinds of conditions. In my hood prices gapped down 50 to 75K between nov and Feb as did most of my area. Some nice listings are coming on but well about even the prices from last Summer. They will need to reduce but will be interesting to see what happens. I can see a possibility of the gap down reversing and gapping back up.

[Author]

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