Alane Anders…, Real Estate Pro in Newport Beach, CA

Where's the inventory?

Asked by Alane Anderson, Realtor | MBA, Newport Beach, CA Mon Apr 30, 2012

The O.C. is SELLING with low-to-no inventory left! Investors and cash buyers are snapping up properties, traditional buyers are making offers. New listings are significantly down, where's the Spring inventory?

Help the community by answering this question:

Answers

8
BEST ANSWER
I put a condo on the market a week ago Thursday - got 6 offers and had to stop because they were getting foolish on price. We countered everyone and settled on a strong realistic offer that will close.
This is getting a little "nuts" !
0 votes Thank Flag Link Mon Apr 30, 2012
Anybody see the WSJ article today? Headlines "Stunned Home Buyers Fine the Bidding Wars Are Back. Article highlights:

Purchase contracts are up 12.8% from last year, 4.1% from February.
Consistent bidding wars.
Inventory of homes for sale, down from 11.1 month supply to 6.3 mos.
Record number of offers
0 votes Thank Flag Link Tue May 1, 2012
I was just wondering that too...... Great Question!
0 votes Thank Flag Link Tue May 1, 2012
HI Alane,

Buyers realized it a good time to buy since all the investors out their are buying up the properties...
If you are interested in a certain area I can help. Talk to you soon

Ingrid Ski Realtor
949-874-0432
OCAreaHomes@gmail.com
0 votes Thank Flag Link Mon Apr 30, 2012
Banks are holding back. The foreclosure numbers are extremely low.
0 votes Thank Flag Link Mon Apr 30, 2012
So much for "Shadow Inventory". Or is it time for the banks to release some?
0 votes Thank Flag Link Mon Apr 30, 2012
No inventory in Santa Clarita either. Houses are seling with multiple offers now as the norm. It feels like 2005.
0 votes Thank Flag Link Mon Apr 30, 2012
That's just it - the inventory is getting SOLD !
0 votes Thank Flag Link Mon Apr 30, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer