There’s no question about it, inventory is LOW!

We’ve written many times about whether or not now is the time to buy… but what if your thinking about selling? Now may actually be a premium time to list your house. Of course, it won’t be as dreamy as if you sold it in 2007ish, before the real estate bubble burst, but still, there are several perks to selling in this market.

First, inventory is LOW LOW LOW (if you suddenly pictured a car salesperson talking about their prices, so did I. I have no idea why I wrote it that way). Seriously though, the banks have been holding off on releasing their inventory of foreclosure properties. Bank owned/ real estate owned (REO)/ foreclosure homes have been the enemy of standard sellers (sellers with equity in their homes) for several years now. And with floods of these types of properties in past years being sold fire-sale style, prices have plummeted and ruined the market for people who have been paying their mortgage all along… people who are now ready to sell to upsize, downsize, move for work, etc. But here’s the good news (though this could change any time): for many reasons, the banks are holding back their inventory, and that means standards sellers are king again!

We represent buyers and sellers, and we are seeing this first hand on both sides of the coin. With our listings, we are getting significant interest and floods of buyers. Our buyers are contending with multiple offer bidding wars that are driving prices up. If you are thinking about selling, there’s no telling how long you’ll be in this position. The banks DO have backed up inventory and WILL release it eventually. So now may be the best time you’ll see in years. And here’s the other good news, if you do sell now, even though you won’t get those 2006/07/08 prices, you’ll likely be in the market to buy. You can take advantage of ultra low interest rates and low prices to get something that was out of your price range a few years ago. So it just may be time to consider selling.

Oh, and here’s a listing of ours just for fun.

http://www.zillow.com/homedetails/2431-Forman-St-Upland-CA-91784/17287662_zpid/

 

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