Can't Find Your Castle?
It's tough in this real estate market to find that home of your dreams. It used to be that the manicured home was the norm and distressed sales were something of an oddity. Sellers had to compete and compete HARD for the buyer's attention. Today, short sales and REO properties comprise almost 60% of the available properties. While a good many of these are very nice, the shopping buyer is frequently seeing homes in disarray physically and the sellers are not happy or motivated.
In this market, sellers should have a real good reason to sell. Prices declined over 4% in May and there is no rush to market. One of the indicators that we watch is the Absorption Rate and Inventory available for sale. Less than six months of inventory defines a seller's market and in some cases a "take-it-or-leave-it" attitude. With scarce inventory, buyers are having a tough go of it.... in this market.
Here Are the Inventory Numbers for May in my Little Corner of the World.
Inventory varies by price range. Regrettably, the price ranges that favor the first time buyer are also in shortest supply.
My suggestion is to keep the faith. We Will Find Your Castle.
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It's All About YOU! Brad Rachielles, REALTOR, Upland, CA
Brad Rachielles, REALTOR. Helping Inland Empire Buyers and Sellers with their Real Estate needs in the Communities of: Upland, Rancho Cucamonga, Fontana, Claremont, Ontario, Chino, Chino Hills, Pomona and La Verne, CA.
Web Page: http://www.BradRachielles.com