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John-Michael Kyono's Blog

By John-Michael Kyono | Managing Broker in Alameda, CA

Not so wonderful time of the year.

Usually this time of year I get really excited. Why? Because most of the time I am able to cherry pick houses that were over priced or came onto the market to late and am able to get my clients favorable terms. 
However, this year is completely different. I have not seen inventory this low in years. There are currently only 13 homes for sale in Alameda. Considering that we have at least 100 active agents working on the island all of whom have clients, the demand far exceeds the supply. Which means better home prices or a position of power for the sellers. 
If any new homes come on the market, rest assured there will be 50 plus business cards left from the brokers open house and a mob of people on the Sunday open house. 

The only bright spot is that the banks have a ton of REO's and they should be releasing the inventory once the data comes back that the market is dry. 

Stay tuned, its going to be an interesting 4 months. 

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