Home Selling in 94941>Question Details

Linda Saint…, Real Estate Pro in Stinson Beach, CA

Inventory has been 'Low' throughout 2013 - Do you believe 2014 will see a marked increase due to Sellers taking advantage of higher sales prices?

Asked by Linda Saint Amant, Stinson Beach, CA Mon Nov 25, 2013

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John Zeiter’s answer
Even though inventory was "low" in 2013, the volume of house sold was the highest since 2005. As interest rates and a low number of available house on the market, there will be an increase in value. Some sellers are reluctant to sell, until they find a replacement house. With no new development in Marin, the value can only increase as buyers have to wait until a seller is ready to move.
1 vote Thank Flag Link Thu Jan 30, 2014
One interesting "wrinkle" is the financing piece of the equation and what effect the proposed new QM Rule (Qualified Mortgage) will affect buyers' ability to borrow... Of course, many purchases have been "all cash" and the run up in the stock market has helped bolster that. I am just not sure how the implementation of the Dodd Frank Act come 1/10/14 will change the picture of real estate and home purchases.
1 vote Thank Flag Link Tue Nov 26, 2013
Sales prices are likely to go up next year, bringing sellers off the fence. I also expect a lot of REO's to come on the market as banks will try to clear their inventory, too.
1 vote Thank Flag Link Mon Nov 25, 2013
Hi Linda,

Please see our market report which details out sales, inventory and so forth http://www.marinhomelistings.com/Communities/Monthly-Market-…

Also my blog at http://www.marinhomelistings.com.

The problem with inventory has deep roots starting from the housing crash in 2007 when the builders halted new construction and focused on selling out their inventory. Reports suggest that it will take through 2015 for new construction to pick up. This is while reports by the National Association of Realtors also suggest that housing prices will continue upward through 2015.

Another factor is the increase in prices for goods in construction which will have an impact on new homes. It could be a few years before inventory catches up with the demand. I hope this helps.
0 votes Thank Flag Link Thu Jun 26, 2014
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