Why is Housing Inventory So Extremely Low? скачать в хорошем качестве

Why is Housing Inventory So Extremely Low?

Reading Real Estate news is what I do....sharing is the next step. Wondering why inventory is so incredibly low? With the crash we saw a lot of distressed homeowners. That amount has decreased significantly. Particularly in California, a non-judicial state, foreclosures can happen 'fairly' quickly. Short-Sales have improved, Loan Modifications are happening. So with fewer and fewer REO's and SS coming on the market and homeowners still with negative equity in many cases...it's no wonder the inventory is so limited. New construction remains at a very low level too. When we see more newly built homes become available we'll see in inventory increase. When the remaining prospective SS sellers get on board, we should be seeing a few more of those as well since the Debt Relief Act was extended to the end of this year. The biggest, most obviously, reason we have low inventory is home owners are waiting for prices to get higher. The only standard sellers are either the smart ones that can afford to buy bigger, or the ones that just have to move...a significant reason has made them sell now. But, those people are taking advantage of this low inventory and getting their homes sold quickly....if priced right of course. Most homes, priced right, are selling with multiple offers in just a few days. Here in my area, our active inventory is 25% of what is was a year ago this time. Only 25%. When will it go up? As prices continue to go up, and when more new construction starts happen. For any questions you have about Southern California Real Estate...Lauren Lefkowitz Greber ~ Realty Executives Valencia ~ (661) 964-1600 ~ Lauren@KeepYourWitz.com