The market statistic for Fremont, Ca. for 1-12-12 show that inventory has moved up slightly from year-end 2011 but is still far lower than the inventory figures for the end of September, 2011.
It does not matter whether you are considering the purchase of a condo, townhouse or single family detached home. It does not matter whether you want a traditional sale, short sale, or REO – or if you would rather steer away from REOs and short sales – inventory is thin.
What does that mean? The law of supply and demand has not been repealed. Demand may be down due to prevailing economic forces. But demand has not disappeared. Supply is definitely down. There are obviously fewer houses for sale than in the recent past.
If you see a well located, attractive home, other buyers will also find it. That home will get lots of attention. If it happens to be competitively priced it will probably receive multiple offers. It may even sell for more than the asking price. That is how the law of supply and demand works in Fremont, Ca. and everywhere else.
By the way, unattractive REO’s are also selling with multiple offers if the offering prices make sense. The same can be said of short sale houses.
Prices have tumbled from the height of the market. Interest rates are at record lows. Do you really think that you can “time” the market? Now is a good time to buy.
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