May 23, 2010
Lack of Inventory Turns the Inland Empire Region into a Seller's Market:
Now is a Great Time to Sell Your Home
In a blog posted last December, I made reference to the fact that the real estate market in the Inland Empire could be on the cusp of shifting from a Buyer's Market to a Seller's Market. Five months later and the market continues to shift in that same direction.
Lack of available inventory, multiple offers, properties selling for above list price and minimal Days on Market are now now the norm. From standard sales (where the homeowner has equity in the home), to short sales (the homeowner owes more on the home than the amount owed on the loan(s) to bank owned sales (REOs); this shift from a buyer's market to a seller's market is across the board.
If a property is priced correctly - that is, in direct relationship to it's condition - it will NOT be on the market for very long once it's listed. It doesn't matter if the property is a fixer, in turn key condition or anywhere in between; when a property is properly placed in a competitive position in the Inland Empire real estate market, it will tend to sell within a matter of days than a matter of weeks or months. Skeptical? Read on...
I will soon be posting information on my home page about a listing for a home I sold recently in Yucaipa. This home was a standard sale. I listed it on a Friday evening; the next day I received an offer and by the following Tuesday we were in escrow. This home sold in 3 Days!*
Was it because of the awesome[ ;) ] listing agent? The turn key condition? The price? It's position in the market place? The location? Marketing? More buyers than available homes? The answer to this is yes, yes, yes, yes, yes, yes and yes.
The agents (both listing and selling), condition of the property, pricing, positioning in the market, location, marketing and lack of inventory in the property's neighborhood and marketplace ALL have a hand in the successful sale of a property.
Get that combination of the agent, condition, pricing, positioning, location and marketing right - pair it with the fact that there are more buyers than there are properties for sale in the current Inland Empire real estate market - and selling your home can be as easy as shootin' fish in a barrel.
Believe me when I say STANDARD SALES ARE THE KINGS OF THE CURRENT REAL ESTATE MARKET! Take if from one who's been there, done that and is still doing it! I'll expand on the subject of standard sales in a future post.
So I leave you with this: If you want/need/have to sell your home in the Inland Empire - from Yucaipa, Oak Glen, Calimesa, Beaumont, Redlands, Loma Linda and beyond - now is an absolutely GREAT time to sell your home (how many thousands of times have you heard THAT cliche?). But it's true. It doesn't matter if you have equity in your home, you're at a break-even point or even if you're upside down on your home. The buyers are out there. In droves. With cash. With pre-approved financing. Ready, willing and able. Chomping at the bit. Looking to buy your home.
Whether you're looking to buy or sale your home in the Inland Empire, feel free to drop me a line to see how I can provide you with the same knowledge, experience, exceptional service and results my clients have come to expect.
*Reference/testimonial available upon request
Randy Fox is a REALTOR® with Coldwell Banker Kivett Teeters Realty in Yucaipa, California. Randy can be reached by phone at (909) 965-2937 and by email at Randy.Fox@ColdwellBanker.com. Randy also has a website; http://yucaipaproperties.net.