Orange County's Inventory Is Down 33 Percent

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Real Estate Agent with TIM LORENZ - Elite Home Sales Team DRE# 00919781

Orange County's Inventory Is Down 33 Percent

Orange County has dropped 33 percent on the number of listings comparied to the begining of 2011.  The sellers are not coming on the market as they have in the past.  To be sure we have not seen this since 2005.  Some believe this will drive prices up.  Yet we have not seen that happening.

As I look at the blogs on Active Rain I see that many of the blogs note a drop in there areas as well.  If the market is picking up.  I do not see it.  We need consumer confidence and we need jobs.  We are not seeing the turn arround that normally would have been seen in a traditiioal market turn arround. 

We are also experiencing the lowest inventory of REO or short sale properties (distressed properties).  So we will watch and see what how this is all going to flush out.

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California Orange County Mission Viejo
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Rainmaker
863,856
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

There is also a slight decrease in the number of new listings in the Inland Empire. Prices are definitely on the rise. We are seeing multiple offers on most of properties that are priced correctly. Our inventory are being snatched within weeks, not months.

Mar 11, 2012 11:01 AM #1
Rainmaker
1,143,971
David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

One would think that would be the case... supply demand. So are they saying the demand isnt there right now so I am going to hold off listing? I guess if thatis the case there is some sense to it. If its not that (and that wont be the case for everyone) it makes you wonder

Mar 11, 2012 11:03 AM #2
Rainmaker
854,489
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

With inventory down (if it goes low enough) the prices will increase.

Mar 11, 2012 11:04 AM #3
Rainmaker
1,022,703
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Sarah

It is an interesting time we are in..

Mar 12, 2012 01:41 AM #4
Rainmaker
1,022,703
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

US Mortgage

It does make me wonder.  I do not know what is going on yet.

Mar 12, 2012 01:43 AM #5
Rainmaker
1,022,703
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Mark

We are in new territory.

Mar 12, 2012 01:43 AM #6
Rainmaker
4,207,388
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Tim, great news, and hopefully the market are rebounding!     Some homeonwers are finally putting homes on the market here in Denver, helping the shortage of inventory!

Mar 13, 2012 01:38 AM #7
Rainmaker
3,478,010
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Tim -- we are seeing multiple offers and often over the asking price for some listings in our areas -- of course, you have hit location, proper presentation/staging and pricing in the right balance to achieve those results.  Otherwise, you will linger on the market and wonder why every other home is selling --- it's not magic but you must know how to create the aura of magic to help the  sales process.   

Mar 16, 2012 03:13 PM #8
Rainmaker
1,022,703
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Joan

Thank you the news.

 

 

Mar 16, 2012 03:33 PM #9
Rainmaker
1,022,703
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Michael

Thank you for the your thoughts.

Mar 16, 2012 03:36 PM #10
Ambassador
1,346,122
Gayle Rich-Boxman Fishhawk Lake Real Estate
John L Scott Market Center - Birkenfeld, OR
"Your Local Expert!" 503-755-2905

Tim~From what my bestfriend who is a realtor in Portland says, inventory is down there, as well. For me, I'm such a niche, with it being a lakefront/offlake vacation/fulltime/retirement community, I am seeing a much better year this year than last. Lots of listings, lots of buyers...now finding just the right property for the buyers has become my bailiwick.

Here's hoping you can ride another wave in California...hang on!

Mar 18, 2012 04:41 PM #11
Rainmaker
1,022,703
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Gayle

Glad to hear that your doing well may that last forever.

Mar 19, 2012 01:52 AM #12
Rainmaker
2,428,572
Charles Stallions
Charles Stallions Real Estate Services - Pensacola, FL
800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.

Well if inventory is down that is a good thing and hopefully it will spread across the country. Good luck and Happy selling

Mar 24, 2012 06:36 AM #13
Rainmaker
1,022,703
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Charles

Thanks for your comments.

Mar 24, 2012 11:12 AM #14
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Rainmaker
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