Low inventory?

NEW -> Contingent Buyer Assistance Program
Before heading off to show some homes for the day, MLS said that there were only 453 active listings this morning.  ???  :-\  Are the super agents on vacation or something???  Give us more listings ASAP!  >:(  >:D
 
A lot of people in your profession are going to have to start submitting job applications if things don't change...
 
IndieDev said:
A lot of people in your profession are going to have to start submitting job applications if things don't change...
Click to expand...
Good, we could use a round 2 of flushing to get rid of those realturds that didn't getting flushed in round 1. 
 
So when I first posted this thread, I wondered what the numbers would look like during the summer selling season... because every year prior, inventory has gone up... for the first time in 5 years, Irvine (and actually many SoCal cities) has gone significantly down from the prior winter/spring numbers.

From the chart on:
http://www.irvinehousingblog.com/inventory/

7/15/07 1253
7/15/08 851
7/16/09 626
7/13/10 770
7/14/11 873
7/12/11 425

425 is the lowest number since 440 in 1/4/10... and that was a winter number. That's half of last year's inventory at this time.

Does this low availability help new home sales? Is that why Lambert Ranch is seeing good traffic?

What does that mean for the fall/winter numbers where inventory is historically lower?

"Buy now or there won't be any homes to buy?" (?2012 TalkIrvine.com)

I don't like it... esp because we are starting to look to buy again. Not sure if the wife can wait until 2013.
 
irvinehomeowner said:
So when I first posted this thread, I wondered what the numbers would look like during the summer selling season... because every year prior, inventory has gone up... for the first time in 5 years, Irvine (and actually many SoCal cities) has gone significantly down from the prior winter/spring numbers.

From the chart on:
http://www.irvinehousingblog.com/inventory/

7/15/07 1253
7/15/08 851
7/16/09 626
7/13/10 770
7/14/11 873
7/12/11 425

425 is the lowest number since 440 in 1/4/10... and that was a winter number. That's half of last year's inventory at this time.

Does this low availability help new home sales? Is that why Lambert Ranch is seeing good traffic?

What does that mean for the fall/winter numbers where inventory is historically lower?

"Buy now or there won't be any homes to buy?" (?2012 TalkIrvine.com)

I don't like it... esp because we are starting to look to buy again. Not sure if the wife can wait until 2013.
Click to expand...

I'm thinking it is a lot of fear and posturing.  Let the election season go by and give Europe time to do whatever it will be doing.  Too many people in the area concerned about their money makes stuff like this happen imo.
 
Inventory keeps going lower...416 active listings as of an hour ago.  I'm really hoping we get more houses on the market soon.
 
i understand fear of not buying but why arent people listing?  even if its WTF price, why arent they putting their houses on the market?

 
qwerty said:
rkp said:
i understand fear of not buying but why arent people listing?  even if its WTF price, why arent they putting their houses on the market?
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underwater?
Click to expand...

This might have something to do with it for the past few years.  If you look at the YOY, people who have bought since the boom have lost money if they were to sell now.  That stops flippers also.  Also, if you are a seller, that kinda also immediately makes you a buyer unless you plan on living under the freeway.
 
rkp said:
i understand fear of not buying but why arent people listing?  even if its WTF price, why arent they putting their houses on the market?
Click to expand...
Foreclosures have slowed down (thank California politicians for that) and as of March or so anyone that was barely above water or underwater can refinance their mortgage to the low rates we have now.
 
I've seen a more and more listings that are getting close to 2005 prices. It seems like for certain subdivisions where a few agents dominate listings are doing a good job at convincing sellers to list with them and increasing their list price from existing comops.
 
I guess inflated list pricing calls for low ball offers... especially if the offers are much closer to comps than the list price.
 
<3 redfin's trending stuff.  You can see that listing prices have been going up in general while sold prices have been going down.  It is voodoo RE pricing!
 
webmonkey said:
I've seen a more and more listings that are getting close to 2005 prices. It seems like for certain subdivisions where a few agents dominate listings are doing a good job at convincing sellers to list with them and increasing their list price from existing comops.
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Let those listings sit on the market and collect dust.  The listing agents are only wasting their time and their client's time by listing at WTF prices.
 
Lots of new homes are coming.

Cambria, Saratoga and Medocino in Stonegate
Sage, Garden Hill, and un-named development in Portola Springs
More SFRs in Woodbury
SFDs in Cypress Village
William Lyon's two projects in Woodbridge and University Park
Spring next year Great Park housing phase 1
 
The Motor Court Company said:
Lots of new homes are coming.

Cambria, Saratoga and Medocino in Stonegate
Sage, Garden Hill, and un-named development in Portola Springs
More SFRs in Woodbury
SFDs in Cypress Village
William Lyon's two projects in Woodbridge and University Park
Spring next year Great Park housing phase 1
Click to expand...

Un-named development in Portola Springs, which part of portola springs?
 
between LR and KB's Sage and Garden Hill.

javacly said:
The Motor Court Company said:
Lots of new homes are coming.

Cambria, Saratoga and Medocino in Stonegate
Sage, Garden Hill, and un-named development in Portola Springs
More SFRs in Woodbury
SFDs in Cypress Village
William Lyon's two projects in Woodbridge and University Park
Spring next year Great Park housing phase 1
Click to expand...

Un-named development in Portola Springs, which part of portola springs?
Click to expand...
 
The Motor Court Company said:
between LR and KB's Sage and Garden Hill.

javacly said:
The Motor Court Company said:
Lots of new homes are coming.

Cambria, Saratoga and Medocino in Stonegate
Sage, Garden Hill, and un-named development in Portola Springs
More SFRs in Woodbury
SFDs in Cypress Village
William Lyon's two projects in Woodbridge and University Park
Spring next year Great Park housing phase 1
Click to expand...

Un-named development in Portola Springs, which part of portola springs?
Click to expand...
Click to expand...

i think that is a taylor morrison development, it will be bigger than Las Ventanas, more like Las Colinas and therefore more cash money.
 
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