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Regular Contributor
TheGreenBanker
Posts: 86
Registered: ‎12-11-2011
0

Starting to see a lot more inventory in my territory

Anyone else seeing the same?

Gold Regular Contributor
sheriff
Posts: 2,291
Registered: ‎06-01-2012
0

Re: Starting to see a lot more inventory in my territory

On my searches it has increased and now seems to be slowing down a little.

Gold Contributor
mediaguru
Posts: 1,875
Registered: ‎03-03-2011
0

Re: Starting to see a lot more inventory in my territory

Where I live, there are suddenly a TON of houses being put on the market...

 

I take it as a sign that people are recognizing this as a peak and thinking "this is about as good as it's going to get" (as a seller's market), and acting accordingly.

 

I think it's a wise move on their part. I'm trying to convince the mother-in-law it is time to sell her house in Lafayette and pocket the gains for retirement...

Silver Regular Contributor
sfsfr
Posts: 689
Registered: ‎04-15-2012
0

Re: Starting to see a lot more inventory in my territory

Inventory looks pretty flat in mid-Peninsula. I guess that's better than last year when it actually went down from January through April.

 

I like the new stats on Redfin showing average number of offers and such, though I'm not clear on what this number reflects. 11 avg # offers in RWC, 10 San Mateo, 8 San Carlos. That seems really high.

 

Super Contributor
Curmudgeon
Posts: 265
Registered: ‎06-14-2012
0

Re: Starting to see a lot more inventory in my territory

My area still has no inventory.  I track by the zip code, which in this case covers both a substantial chunk of low-end housing plus some mid-high end stuff  (San Jose). 

 

18 months ago the low-end stuff started selling like crazy to investors; since about 12 months ago anything at that level was selling in a few weeks.  Prices for these places are now 30-40% up from the bottom.  They are still selling fairly fast.  I tend to think of these as now being at a somewhat realistic price (for the bay area), still down 20% from the bubble.

 

The mid and high end inventory (there was quite a lot a year ago) in this area didn't start to move until around 6-10 months ago.  Now there are only 3-4 "dream-priced" places that are listed at bubble-peak prices and/or have significant flaws and have been sitting for quite a while.  Anything realistically priced sells within a few days.     

Silver Trusted Contributor
Michelle1x
Posts: 1,063
Registered: ‎02-17-2008

Re: Starting to see a lot more inventory in my territory

 

I take it as a sign that people are recognizing this as a peak and thinking "this is about as good as it's going to get" (as a seller's market), and acting accordingly.

 

I think it's a wise move on their part. I'm trying to convince the mother-in-law it is time to sell her house in Lafayette and pocket the gains for retirement...


Yeah ok Mediaguru.  We've had 9 mos of a rising real estate market vs the prior 4 years of steep decline... this has to be the absolute peak right?

 

Before you discount the following article, I am going to point out that 1)it was published TODAY, and 2)it is from a reputable source (SF Gate), 3)it quotes multiple sources.  Not just some guys opinion.

 

Bay Area home prices projected to surge

Looking at 245 Bay Area ZIP codes, Zillow projects that 244 will see home  values ratchet up by significant margins in 2013, with 27 ZIPs seeing  double-digit appreciation. Only one of the ZIPs analyzed - 94515 in Calistoga -  is forecast to see values recede, by a modest 1.4 percent.

"The forces of supply and demand seem to be exacerbated here right now," said Svenja  Gudell, senior economist with Zillow in Seattle. "We're happily surprised by  how well (the market) is doing and how much it's picking up steam

Read more: http://www.sfgate.com/realestate/article/Bay-Area-home-prices-projected-to-surge-4288392.php#ixzz2LT...

Silver Regular Contributor
Fishmarty
Posts: 681
Registered: ‎08-25-2012
0

Re: Starting to see a lot more inventory in my territory

GreenBanker,

 

Which area are you talking about, zip code please?

 

 

Silver Contributor
DealHunter0
Posts: 398
Registered: ‎04-05-2011
0

Re: Starting to see a lot more inventory in my territory

Inventory has risen a bit in Mountain View but is still very low.  We're up to 40 real listings, i.e. not including Redfin's "other" category which is usually a bunch of mobile homes.  That's up from the low of 27 in mid-january.  In 2012, inventory peaked at ~52 properties in early June.  In May of 2011 there were 74...in August of 2010 there were 156 (I keep a close eye on these things).

 

I think it's too early to tell.  If we can surpass the 2012 peak hopefully things will start to cool down a bit.

Platinum Regular Contributor
elt1
Posts: 4,890
Registered: ‎01-04-2010

Re: Starting to see a lot more inventory in my territory


Fishmarty wrote:

GreenBanker,

 

Which area are you talking about, zip code please?

 

 

Thegreenbanker is Stanley Lo..the king of discount realtors..has been around since before redinners were born... listing fee 1.67% and pays to buyers agent 2.17%.  His secret sauce is that he limits access and tries to get both sides of every deal..Location.... Burlingame.

http://www.greenbanker.us/who_is_stanley_lo.php

Super Contributor
Metalhead
Posts: 224
Registered: ‎12-20-2011
0

Re: Starting to see a lot more inventory in my territory


elt1 wrote:

Fishmarty wrote:

GreenBanker,

 

Which area are you talking about, zip code please?

 

 

Thegreenbanker is Stanley Lo..the king of discount realtors..has been around since before redinners were born... listing fee 1.67% and pays to buyers agent 2.17%.  His secret sauce is that he limits access and tries to get both sides of every deal..Location.... Burlingame.

http://www.greenbanker.us/who_is_stanley_lo.php


I drove through Burlingame a few weeks agon on a Sunday and saw one of his signs.