Weekly Inventory Report discussion board

[bearishgurl]

[quote=markmax33®][quote=sdrealtor]Inventory stayed very stable. As much coming on as selling. Hopefully we can get some more inventory out here cause its pretty grim these for buyers.[/quote]

Worse than grim in my submarket. I’m watching few subdivisions for move up opportunity – there is simply nothing for sale, at any price. The cash-only condo complex that was an alternative destination for my savings went from ~10 listings to 2 in 6 months. I decided to spend a couple of weeks in EU to quench my spending drive for now. Greece should be fun destination this summer.[/quote]

Good for YOU! Have fun, captcha!!

[danthedart]

With the low inventory and bidding wars going on, what strategy should potential buyers use to get a house they want? Bid 10% over asking?

[sdrealtor]

My advice is get a great agent who knows how to position your strengths with the listing side, ignore asking prices and write offers based upon comparables, set your limits, stick to them and be patient. There will always be another house.

[an]

[quote=sdrealtor]My advice is get a great agent who knows how to position your strengths with the listing side, ignore asking prices and write offers based upon comparables, set your limits, stick to them and be patient. There will always be another house.[/quote]
It depends on how picky you are about floor plan and location. Sometimes, there won’t be another house for a long time.

[sdrealtor]

Inventory still falling. In a little over 2 months it has fallen 16%.

[an]

[quote=sdrealtor]Inventory still falling. In a little over 2 months it has fallen 16%.[/quote]
Is it summer selling season yet? What are your buyers saying/doing wrt to the declining supply and the poor quality of supply?

[an]

Wow, inventory is continuing to shrink for 92126. [img_assist|nid=16262|title=|desc=|link=node|align=left|width=418|height=460]
It’ll be a very interesting summer.

[sdrealtor]

AN
You do know those numbers include the short sales with offers on them already. There are actually only 19 active detached homes and 7 active condos on the market at this moment. Half of those have been on the market 14 days or less so you can pretty much cut the inventory at least in half of that as most of it will soon be gone too.

[an]

[quote=sdrealtor]AN
You do know those numbers include the short sales with offers on them already. There are actually only 19 active detached homes and 7 active condos on the market at this moment. Half of those have been on the market 14 days or less so you can pretty much cut the inventory at least in half of that as most of it will soon be gone too.[/quote]
Oh, I know. But this is the easiest way for me to put some data. Even including SS, the numbers are pitiful. For an area with over 70k people, to have less than 150 properties for sale is pretty sad. Now, the number w/out SS is abismal.

[sdrealtor]

The inventory is basically zero with a small rounding error

[Coronita]

[quote=sdrealtor]The inventory is basically zero with a small rounding error[/quote]

lol….

[sdrealtor]

bump.

Funny story from the field. A house I have been following has been sitting on the market unsold for 9 months (its overpriced). A neighbor just listed a model match in a better location much higher (its overpriced too). What did the seller do who was sitting on the market unsold for 9 months at current asking price do? Raise their price of course. Amazing!!!!!

[CA renter]

[quote=sdrealtor]bump.

Funny story from the field. A house I have been following has been sitting on the market unsold for 9 months (its overpriced). A neighbor just listed a model match in a better location much higher (its overpriced too). What did the seller do who was sitting on the market unsold for 9 months at current asking price do? Raise their price of course. Amazing!!!!![/quote]

I’ve seen this behavior a few times over the years. The craziest part? They sold!!! Some people (buyers) truly are idiots.

[sdrealtor]

Inventory still trending down. While I havent done the research yet the new listing prices I see seem to be trending up as do closing prices.

[Author]

Posts