Interesting question. Right now, true, there is less inventory on the market. At about this time last year there was about 20% more homes for sale. That includes SFR and condo's. Sherman Oaks tends to be a market that has a higher percentage of "good" homes. So, I am not sure that I would say there are no standard sales in that area for "good" homes. Most sellers really believe their home is much better than every other home out there.
I also would not agree that it is a "seller's market". Even with inventory down, banks are putting more foreclosures on the market and there are plenty of short sales coming this year. With interest rates at historic lows, I would tell sellers that it is a buyer's market and that they need to price and advertise accordingly. Anyone that pushes the idea that it is a seller's market is just trying to get a listing and are not reflecting reality. We probably won't have a true seller's market for a couple of years at least.
If a house is clean, staged correctly, marketed correctly and priced right, it will bring top dollar. The seller may just have to be a little patient.
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