Apparently true for us northerners as well. Take a look at the last sale closed date. Unless there's more to the story, this is just ridiculous. Some shenanigans going on based on the listing price before the last sale.http://www.redfin.com/CA/Manhattan-Beach/4114-The-Strand-90266/home/17229283USCTrojanCPA said:
Low inventory?
- Thread starter irvinehomeowner
- Start date
NEW -> Contingent Buyer Assistance Program
Ding ding ding... We have a winner!!!
Taking advantage of low inventory and low interest rates that will not last. Now is the perfect window for sellers. They will not be able to get the same prices once interest rates pick back up, which is imminent. The mini-bubble will deflate and prices will go back to their end 2010, 2011 levels. Sellers are realizing that and taking full advantage of it. I'd do the same if I had to sell my home.
My 2 cents.
That doesn't count pending sales ;-)
USC and IR will come up with a better number.
With Heritage fields, Cypress village, Portola springs, and the rest of Stonegate, as well as surrounding cities' (Rancho Mission Viejo) communities releasing new homes this summer, I would think this summer is going to have a high number.
That's a great observation. Not many people were talking about the lack of inventory 2 years ago, but it was already happening back then. We started looking in June 2010 after the tax credit expired. There was more inventory than now, but so much of it was distressed / flawed / fixer-upper stuff that it really didn't feel like much to choose from even back then.
Yeapppppppp
irvinehomeowner
Well-known member
Based on my Redfin alerts... it seems there is small uptick in homes getting listed.
Is it a combination of the seasonal new year sales and taking advantage of low inventory to get a better price?
Is it a combination of the seasonal new year sales and taking advantage of low inventory to get a better price?
homer_simpson
Well-known member
irvinehomeowner said:
Ding ding ding... We have a winner!!!
usctrojancpa
Well-known member
I think it's a little of both, homes are still flying into escrow though so buyer demand continues to stay strong.irvinehomeowner said:
Thermofoil
New member
irvinehomeowner said:
Taking advantage of low inventory and low interest rates that will not last. Now is the perfect window for sellers. They will not be able to get the same prices once interest rates pick back up, which is imminent. The mini-bubble will deflate and prices will go back to their end 2010, 2011 levels. Sellers are realizing that and taking full advantage of it. I'd do the same if I had to sell my home.
My 2 cents.
zubs
Well-known member
Wait a min! I thought the Bernanke said he would use the full power of the fed to hold interests low atleast until 2015. So you're saying that the Bernanke with the full power of the fed will not be able to hold interest rates at 3% for 2 more years?
You are betting against US government policy? If Romney had won, maybe the interest rates would creep up, but we got the other guy. How long has Japan been at 2% interest rates? 15 years?
You are betting against US government policy? If Romney had won, maybe the interest rates would creep up, but we got the other guy. How long has Japan been at 2% interest rates? 15 years?
homer_simpson
Well-known member
Are the inventory levels still pretty low?
irvinehomeowner
Well-known member
Yep... according to the IHB ZipRealty chart, 211.homer_simpson said:
cubiczirconia
New member
irvinehomeowner said:
That doesn't count pending sales ;-)
USC and IR will come up with a better number.
usctrojancpa
Well-known member
There are 208 active listings in Irvine as of 10:30am today.Cubic Zirconia said:
JasonTheArtist
New member
Isn't there usually a spike in inventory in the summer time?
irvinehomeowner
Well-known member
Usually... but no real big one last summer. Inventory has been slowly dwindling since mid 2011.JasonTheArtist said:
JasonTheArtist
New member
irvinehomeowner said:
With Heritage fields, Cypress village, Portola springs, and the rest of Stonegate, as well as surrounding cities' (Rancho Mission Viejo) communities releasing new homes this summer, I would think this summer is going to have a high number.
usctrojancpa
Well-known member
Those homes better get the to market fast because we are back down to 190 active listings as of today (down from about 220 about 3-4 weeks ago).JasonTheArtist said:
homer_simpson
Well-known member
Has the inventory blipped upwards yet?
cubiczirconia
New member
198, as per IHB. USC and IR know the exact number..
irvinehomeowner
Well-known member
As soon as homes hit the market, others get sold.
Too many buyers out there before we see a significant uptick in inventory numbers. This last 2 years or so of dwindling inventory has built up a backlog of demand, even new homes sales are moving through phases quicker than before.
Other than high unemployment, with the Dow breaking records, feels very familiar.
Too many buyers out there before we see a significant uptick in inventory numbers. This last 2 years or so of dwindling inventory has built up a backlog of demand, even new homes sales are moving through phases quicker than before.
Other than high unemployment, with the Dow breaking records, feels very familiar.
Liar Loan
Well-known member
irvinehomeowner said:
That's a great observation. Not many people were talking about the lack of inventory 2 years ago, but it was already happening back then. We started looking in June 2010 after the tax credit expired. There was more inventory than now, but so much of it was distressed / flawed / fixer-upper stuff that it really didn't feel like much to choose from even back then.
homer_simpson
Well-known member
gld2 said:feels very familiar before the crash??? :
irvinehomeowner said:
Yeapppppppp