Well Happy Monday to Acitive Rain. The banks seem to be boggin down the Fremont Real Estate once again. We continue to hear about "Shadow Lisitngs". We continue to hear in the news that more inventory is to come down the pipe to help stimulate our economy. We are waiting on the ledge, holding our breath...ready to take a leap of faith as we talk to our buyers who seem to be stacking up!
I spent all weekend showing the limted number of homes on the market to my qualified buyers. "Where is the inventory they ask?" The news keeps leading us to a direction of lots of homes for sale, but we just aren't seeing this on our local levels. Buyers are frustrated. It's all we can do to keep them pacified with as much information as we are receiving from our bank/lending Real Estate sources. It's not working!
Sadly, I continue to show homes with good prices, but we continue to get hit with "Oh sorry, I received 10 offers and we are not looking at anymore." Buyers are over purchasing once again. Banks are experiencing some leverage here, and taking advantage of our markets once again. In 2005, they over delivered on loans, 2010, just a mere 5 years later, they are manipulating the inventory. When will Real Estate be back to buyers, sellers, and agents helping our neighborhoods prosper?
Banks, STOP holding your inventory for your prosperty, and help our economy re-build!
Kimberly Moore, Realtor