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Regular Contributor
myhouse
Posts: 59
Registered: ‎08-15-2012
0

Market slowing down?

Is market slowing down? I have not actively made offer for a couple of months. But it seems when I do searches, the homes seem to be on the market longer than before. Is multiple offers still the norm?

thanks

 

Super Contributor
fareastwarriors
Posts: 230
Registered: ‎10-26-2012
0

Re: Market slowing down?

Maybe it is the holidays and people slowed down a bit. Things should pick up in the Spring/Summer. I'm still actively looking.

Super Contributor
donjumpsuit
Posts: 245
Registered: ‎08-07-2012
0

Re: Market slowing down?

You post this every month.

 

I see no change.


Inventories are the lowest ever recorded, even for the lowest typical month of the Real Estate Activity year.

 

Time on market is still around 30 days or less.  Last August it was less than 10, but again, RE activity is higher then.

 

Mortgage rates still low, Shortsale Debt forgiveness extended, Mortagage interest tax break extended, Prop 13 in full effect.

 

Underwater homes still around 5 million, Delinquency rates lower than 2009, but climbing slowly.

 

Shadow inventory still being manipulated.

 

Flippers still making money.

 

Gold Super Contributor
norcalnative
Posts: 3,277
Registered: ‎05-04-2009
0

Re: Market slowing down?

Neigbor pulled their house off the listings in November - given they are not in a rush to sell and don't want to be bothered during the Holidays. Pretty common for many sellers to do. The off season is well the Off SEASON regarding potential sellers ie available homes to look at and purchase.

Silver Contributor
DealHunter0
Posts: 394
Registered: ‎04-05-2011
0

Re: Market slowing down?

[ Edited ]

Put in an offer on a place just after X-mass.  Offered asking price...property was well-priced but not a crazy lowball to create a bidding war.  Supposedly 10 other offers.  Still waiting to hear back from the agent, see if they counter or what.  Market is alive and well (unfortunately, as I'm still on the lookout for well-priced units).

Gold Regular Contributor
sheriff
Posts: 2,264
Registered: ‎06-01-2012
0

Re: Market slowing down?


donjumpsuit wrote:

You post this every month.

 

I see no change.


Inventories are the lowest ever recorded, even for the lowest typical month of the Real Estate Activity year.

 

Time on market is still around 30 days or less.  Last August it was less than 10, but again, RE activity is higher then.

 

Mortgage rates still low, Shortsale Debt forgiveness extended, Mortagage interest tax break extended, Prop 13 in full effect.

 

Underwater homes still around 5 million, Delinquency rates lower than 2009, but climbing slowly.

 

Shadow inventory still being manipulated.

 

Flippers still making money.

 


I agree with your entire post except the part about the shadow inventory.  It doesn't exist because it is being bought up in bulk by hedge funds so the foreclosures never come to market.

Gold Super Contributor
Jil
Posts: 3,060
Registered: ‎10-24-2011
0

Re: Market slowing down?

Super Contributor
BayAreaLifer
Posts: 269
Registered: ‎08-24-2011
0

Re: Market slowing down?

Our neighbors house sold in a few days most recently, for far more than I thought they'd get.  I still keep an eye on the market around here and the only stuff that sits is either priced too high or at the very high end of the market. 

Super Contributor
donjumpsuit
Posts: 245
Registered: ‎08-07-2012
0

Re: Market slowing down?


sheriff wrote:

 


I agree with your entire post except the part about the shadow inventory.  It doesn't exist because it is being bought up in bulk by hedge funds so the foreclosures never come to market.


 

Bud, I don't make this stuff up, I just report it.

 

If you look at the simplest of metrics, you see shadow inventory.

 

If you look at Fremont right now, there is 1 REO home for sale, and one "Bank-Owned". home for sale.

 

However, forclosure data suggest that there are still 141 homes in Fremont in the month of November that are REO owned.  

 

From Forclosure.com  The Bank Owned (REO) inventory indicates the number of properties that have been sold Back to the Bank at the trustee sale, and which the bank has not yet resold to another party.

 

So it's tough to make this stuff up, .... but for reasons not known to the average person, banks are holding onto 141 properties in Fremont, and selling less than 1 a month.

Platinum Regular Contributor
elt1
Posts: 4,809
Registered: ‎01-04-2010
0

Re: Market slowing down?

inventory is slowing down as prices go up....The question is how high do prices have to go for sellers to come back into the market? 20, 30, 40,50 percent? And are you willing to wait for the next slowdown in 2017?