Yes the Sales Volume Dropped, but Inventory is Still Tight in the East Bay

By
Real Estate Agent with SUNIL SETHI REAL ESTATE

Last week we all read about the drop in sales, and even May sales dropped around 30%, this is what I experience. I had a Fantastic June - 8 closings, which is the highest production month for me this year.

Yes I did see a drop of in visitors to open houses, and I do feel the frenzy did die down some. However when I search for new listings for my buyers and am working with about 15 right now, I don't have a lot of options. Most of what's available has defects that are unacceptable to my buyers (railroads, main streets, t-intersections,...).

So contrary to the pundits proclaiming the end is near. I don't buy that scenario. Buyers are waiting for choice properties to appear. They are ready, to pull the trigger once that property appears.

So my word to you sellers is don't be afraid to sell, prepare your property well (and for God's sake, please don't paint the walls white if you've decided to repaint!).

Let me know what's it like your neck of the woods.

Posted by

Sunil Sethi
Broker, President, Owner, MBA, CPA(inactive)

Sunil Sethi REAL ESTATE
38750 Paseo Padre Pkwy, Ste B3
Fremont, CA 94536
(510) 388-2436
www.sunilsethi.com

Comments (2)

Wanda Thomas
Montana Homestead Brokers, Broker, CRS, GRI, SFR, RN - Billings, MT
Billings Montana Real Estate

We actually have similar issues up here in Big Sky Country.  Our median priced homes and those that are entry level have only a 5 month inventory at the current absorption rate.  Of those homes that don't sell, we still have overpriced listings and those that are just undesirable.  We still have homes get multiple offers if they're in good shape and priced right.

Good luck down there!

Jul 06, 2010 02:25 PM
Sunil Sethi
SUNIL SETHI REAL ESTATE - Fremont, CA
Fremont, Union City Realtor - Homes for Sale in Fr

Your absolutely right, if it's priced right the homes are getting multiple offers. Pricing right means according to the last recent sales.

Jul 07, 2010 12:48 AM