03-18-2012 10:45 AM
No doubt that inventory is down right now due to a number of factors. Any predictions on whether it will continue to drop throughout out the year or if it will eventually spike back up?
03-18-2012 11:24 AM
I am already seeing increasing inventory in my daily redfin listings emails...I'd say it will increase...and if homeowners who want to sell start hearing any wind of increasing prices we might see some inventory spikes.
03-18-2012 03:34 PM
I think we'll see some inventory hit the market as we get closer to summer. Sellers will start to hear from friends and agents that inventory is tight and they'll try to take advantage of that and sell quickly. As long as buyer demand keeps up, supply will follow.
Just my opinion of course.
03-18-2012 06:13 PM
Agree Digo ... Happened to me before when we were transferred to a distant city. Just rented the place at a loss for about 4 years and then afterabout 8 years sold for a small profit.
03-20-2012 01:29 PM
"Re: Will inventory go up or down as the year goes on?"
Banks will CONTINUE to do everything within their power to RATION the amount of houses allowed to go on sale in the open market at any given time in order to artificially prop-up the prices of the remainder. The government is openly ASSISTING the practice because for all intents & purposes American banks are already INSOLVENT. BofA for example, which holds a huge amount of inventory, is a walking ZOMBIE that survives thus far thanks EXCLUSIVELY to continuous cash-injections from the Fed.
If BofA alone were to release its inventory freely, the resulting TSUNAMI of properties hitting the market all at one time would drive RE prices down to the ground. Needless to say, this is EXACTLY what they should do because side-lined buyers such as myself would swiftly move-in to establish a price floor by buying them up in droves. After a brief period of pain the REmarket would quickly recuperate and start moving back up again gradually.
But THIS is NOT what banks want. Banks are MASSIVELY over-leveraged on these properties and permitting them to sell freely on the open market would put them out of business in about 3 seconds flat. Which is why we have this curent economic environment in America where the FAILURES are NOT ALLOWED to fail and the SUCCESSFUL are NOT ALLOWED to succeeed.
03-20-2012 05:02 PM
You said, among other things.............."But THIS is NOT what banks want. Banks are MASSIVELY over-leveraged on these properties and permitting them to sell freely on the open market would put them out of business in about 3 seconds flat. Which is why we have this current economic environment in America where the FAILURES are NOT ALLOWED to fail and the SUCCESSFUL are NOT ALLOWED to succeeed."
Ain't that the truth!
And I do speak from experience. Let's just say I am old as dirt, successful and now long retired accordingly.
I have almost seen it all. The Bankster Gangsters are running this country now, The USA is in deep trouble on all fronts.
Personally, I would love to buy a place closer to the ocean as a second home. But I will not allow myself to do it unless prices roll back to where they should be.
I do not however really expect to see such a rollback of pricing in The Land of Greed and Fear.
Still, I will not give up hope that sanity may eventually prevail..........I shall just keep on watching this lousy "New Normal" RE Market situation from the vantage point of my Longboard perch at "Old Mans", in the still beautiful Blue Pacific that I love so much.
I just refuse to do "The Sheeple Dance", no matter what. Salt water and cerveza go a long way towards easing the pain!
Buenas tardes amigo,
03-20-2012 05:46 PM - edited 03-20-2012 05:47 PM
Lol. I completely share your viewpoints & outlooks my friend! I too refuse to do the Sheeple Dance. It was never my favorite rythm to begin with anyway. I'm not quite as old as dirt myself, but gimme another 10 years or so and I'll catch-up I also am holding-back from buying, simply because I refuse to be suckered into entering a clearly tilted playing field. Clearly tilted against me as a buyer that is.
May God allow our People to Grow and Multiply!