Weekly Inventory Report-take 2

[bearishgurl]

[quote=sdrealtor]Another one of the handful of listings I saw this morning went pending. Now all that is left are a short sales that are mostly in lousy locations. Its gonna be an interesting Spring. I didnt expect it to be this tight.[/quote]

More thread “pollution” . . . :=]

Didn’t we already discuss the whys and wherefores ad nauseum why “real” homeowners (who actually have “equity”) and who followed all the rules over the years are unlikely to list in this current “climate” (which is slanted towards listings “owned” by deadbeats)??

http://piggington.com/poll_how_many_people_do_you_know_waiting_for_a_better_market_to

http://piggington.com/people_who_can039t_afford_their_house_but_get_to_keep_it

I’ll say it again. You can’t have it both ways.

[bearishgurl]

[quote=urbanrealtor][quote=SD Realtor]ummm…. if there are more buyers then inventory then wouldn’t that be characterized as a sellers market?[/quote]

yeah….so much for paying attention when I write.
Yes.
A seller’s market.
Wow.[/quote]

Agreed, UR. With a couple of caveats. It’s a “sellers’ market” for deadbeat “sellers” along with recent “beneficiaries” and “successful purchasers” of trustees’ deeds.

For a “real” homeowner (with equity) considering listing their property for sale, the current market is NOT your market.

[Wah-Wah]

ummm… okay so from all the comments so far I can summarize in these words: drastic decrease in inventory, feeding frenzy of buyers, multiple offers on a house, seller market, yet price is down according to this post http://piggington.com/caseshiller_index_ended_down_for_2011
welcome to econ one o whack.

[The-Shoveler]

Chicken/egg thing again,
No inventory because can’t raise prices so very very few voluntary sellers,

Can’t raise prices because every once in a while a beat-up foreclosure or desperate short sale occurs knocking down the comps keeping a lid on prices so even if a buyer was willing to pay up, they can’t get approved for the loan,

Welcome to frustration land.

[sdrealtor]

alot of truth in the last 2 posts

[an]

[quote=sdrealtor]alot of truth in the last 2 posts[/quote]
The million dollar question is, where will we go from here. Looking in the past price was falling. Looking at today’s market, supply is tight. So, in the next 1-6 months, will we see more supply, which will drive down price even more or will we se price start going up due to lack of supply?

[bearishgurl]

[quote=Nor-LA-SD-GUY2]Chicken/egg thing again,
No inventory because can’t raise prices so very very few voluntary sellers,

Can’t raise prices because every once in a while a beat-up foreclosure or desperate short sale occurs knocking down the comps keeping a lid on prices so even if a buyer was willing to pay up, they can’t get approved for the loan,

Welcome to frustration land.[/quote]

Agree with this, Nor LA, except that in many areas, these “distress” sales do not occur “every once in a while.” They are 80-90% of recent sales and have been for awhile.

The areas where there is a prevalence of “all cash” purchases or 40%+ down purchases (where buyers “could” get approved for a loan or don’t even need a loan) DO have more well-maintained “equity sale” properties available. But these are NOT the areas first-timers or young “worker bee” buyers either typically shop in or buy into.

This “worker-bee, school-age children set” of today seems to want to all flock to the same areas, engage in their own “bidding wars” with each other and thus, drive up their OWN prices :=}

[briansd1]

[quote=bearishgurl]

Agreed, UR. With a couple of caveats. It’s a “sellers’ market” for deadbeat “sellers” along with recent “beneficiaries” and “successful purchasers” of trustees’ deeds.

For a “real” homeowner (with equity) considering listing their property for sale, the current market is NOT your market.[/quote]

I don’t know BG, a seller is just as “real” as any other seller.

Don’t you feel that those “real” sellers that you’re referring to are “greedy” since they want bubble prices after the bubble has already popped? They are just as much a “problem” as the “greedy” and deadbeat people you talked about before.

[desmond]

All this discussion has just ruined this thread.

[bearishgurl]

[quote=desmond]All this discussion has just ruined this thread.[/quote]

Lol, desmond. Not to worry. It’s been “replaced.” :=D

[sdrealtor]

I figured we could pollute this one and hopefully everyone would get it out of their systems. Hope people can resist the urge, follow “guidelines” and just leave the Take 3 version for the data.

[bearishgurl]

[quote=briansd1] . . . I don’t know BG, a (distressed) seller is just as “real” as any other seller. . .[/quote] (clarification added)

I beg to differ, brian.

A “distressed” seller does not have the authority to truly “accept” an offer and put “their” property into escrow.

A “real” seller does.

There is a vast difference here, not only in the probable condition of the property in question, but in the ease, timeliness and straightforwardness of the transaction itself.

[bearishgurl]

[quote=sdrealtor]I figured we could pollute this one and hopefully everyone would get it out of their systems. Hope people can resist the urge, follow “guidelines” and just leave the Take 3 version for the data.[/quote]

I will note that a “thread starter” cannot control what happens to “their” (lol) thread once they post it here.

You are free to impose your “guidelines” at your own peril …

[sdrealtor]

Its not just here. I saw a link to this on the front page under Other Bubble Bloggers.

Dude, Where’s my inventory?

Dude, Where’s My Inventory?

[The-Shoveler]

(First I know shadows etc….)
Maybe this is a good simulation of what happens when we run out of foreclosures (I know there will always be a few, but for practical purposes), you know it is bound to happen someday.

[Author]

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