Skimming Active Rain Market Reports might not be a good idea...

By
Real Estate Agent with Berkshire Hathaway HomeServices 01238708
https://activerain.com/droplet/5dPY

Skimming Active Rain Market Reports might not be a good idea if you are trying to write your own sensationalized article. My advice is, it is better to read the explanations and the interpretations, rather than just skim them, since they are written by Local Realtors, who know what their local markets are like. (I get it, Market Reports can be a bit dry, never the less, it might help understanding the Real Estate Market)

Most of my readers know, that I try to address bad information no matter who the source is and try to correct it. Recently, I have written a few market reports and indicated, that it is not as wild as it was a year ago when it comes to finding properties. Now let’s be clear, instead of 20 -30 offers on the properties now we are seeing one to three offers on the well-priced properties. Never the less, it is still a sellers’ market in the Greater Los Angeles area.  As you know, when properties sell under 30 days in all price points all the way up to $3 million that is clearly a brisk market.

So, you can imagine, I almost fell out of my chair when I read this headline:

 

BRAD INMAN STAFF WRITER 8.16.2018

 

The inventory crisis is officially over….

 
 
 

The inventory crisis is coming to an end. Like rolled up skinny jeans, a for-sale housing shortage is becoming old news. Buyers have more choices…….

 I took a picture of my email inbox, so you can see these emails are from other agents, some in my company others from other brokerages looking for inventory. 

www.endrebarath.com

Clearly you can see from the headlines in their emails, that they are all looking for properties for their buyers. Now if you are not convinced I also took a few sample quotes from the body of their emails.

“…I have a buyer who can go up to $2.8m for an all done modern house, 2,400-5500 sqft preferably with a view and a guest house that is large enough for a large office with a separate entrance (or maybe a lot where a guest house of this size can be built...1,200 sqft).  Encino, Sherman Oaks, Studio City, Culver City, Brentwood, Orange, Yorba Linda, Anaheim Hills, Newport Beach, Huntington Beach, Huntington Harbor…’

 

“…I have a buyer moving to the area from Marina Del Ray and looking for the following below:

- Encino- Toluca Lake

- Prefers SOB or South of Freeway

- Complete Remodel to more Contemporary/ Modern Style

- Prefers High Ceilings

- Pool/Spa

- Separate Office/Den or Guest House

- Open Floor Plan

- Up to $2m…”

“…Hi agents. Our buyers would love a 1-story home, preferably 4 bedrooms with a backyard and pool in the El Camino school area of Westhills/Woodland Hills. Up to $1M. Any pockets or coming soons? Thank you!...”

 

“…Do you have a a fixer? Is there a upside opportunity? Send it to me. Up to 10 million…”

 

Anyway, you get the idea that we are not in a buyer’s market in the Greater Los Angeles yet, nowhere near it. How is your local market?

Maybe if the Staff writers would read our market reports, instead of skimming them, then they might have put a different spin on their headline.

Trolling Realtor Blogs on Active Rain is great, if you read the posts word for word. Then you can sound knowledgeable, when you carry on a conversation or write your own article, based on the information you read. While skimming market reports might be field expedient, but it might not get the correct information. Then in turn when you publish bad information, the public might also disagree as well. Especially those buyers, who are trying to buy homes in a seller’s market will be the first to laugh at headlines like that.

 

So, what is your local real estate market like? Please share with us.

Now, if you are looking for a knowledgeable, focused and goal-oriented Realtor in the Beverly Hills area who will help you achieve your Real Estate goals, please reach out to me directly!

If you are looking for a pet friendly Beverly Hills Realtor who can handle and sell the most difficult properties that no one else could, please reach out to me directly!! If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at 310.486.1002 (m) or homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com  I contribute a portion of my commission to local animal rescue organizations.

 

 

 

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Rainmaker
3,262,420
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Brian England  you are so right they get paid to talk, like some of the sports casters hard to believe the money they get for well let's just say talking from a position of weakness aka their backside...Endre

Aug 17, 2018 11:25 AM #14
Rainmaker
3,262,420
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Amanda S. Davidson  thank you and funny my reaction is like yours "delete" not click through, Endre

Aug 17, 2018 11:27 AM #15
Rainmaker
5,578,311
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Some reports really miss the mark.

Thanks for your market update. 

Aug 17, 2018 12:50 PM #16
Rainmaker
3,262,420
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Anna Banana Kruchten CRB, CRS 602-380-4886  indeed buyers and sellers need to tune these National Experts out and focus on the local Realtor's advice and knowledge, Endre

Aug 17, 2018 01:03 PM #17
Rainmaker
3,262,420
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Roy Kelley  thank you for adding to the conversation, Endre

Aug 17, 2018 01:26 PM #18
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Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Hello Endre Barath, Jr. if you read mine they say there are no condos available Please call me to get on the waiting list ...

Aug 17, 2018 02:21 PM #19
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Endre real estate is local, so I don't understand why someone who is not from the area and familiar with the market would claim to know what the market is like.  When they do they should be called out like you are doing.

Aug 17, 2018 02:49 PM #20
Rainmaker
3,262,420
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Hannah Williams  I read your post and maybe the Staff Writer at Inman should read all those posts including mine:)Endre

Aug 17, 2018 02:56 PM #21
Rainmaker
3,262,420
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

George Souto  I loved how they generalized to get everyone's attention...too bad it was misinformation, Endre

Aug 17, 2018 02:57 PM #22
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Local, local, local.  Condos in a particular community?  I've been working with a buyer and about once every 2-3 months we get an opportunity in that subdivision.  They stay on the market less than 7 days typically.  On the other hand in the same city there's an abundance of luxury home resales because they're going head to head with LOTS of new construction.  The builders are winning that one, easily.

So basically I have little use for anything the proclaims how the real estate market is when they try to use a national broadbrush approach.  For the most part, there's still not enough inventory here, but the story is still the same.  Price it wrong, and it'll sit, even in a seller's market. 

Bill

Aug 17, 2018 05:59 PM #23
Rainmaker
3,262,420
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Liz and Bill Spear you illustrated it perfectly, same story here .FYI  our Ultra Luxury Market is slow because there are only about 3000 people in the world that can afford them. Then to boot we have virtually no new construction and no subdivisions, thanks to all the obstacles that are put in front of the Developers by the local community activists as well as the building department...Endre

Aug 17, 2018 09:13 PM #24
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

FAKE NEWS!!!

I saw that and could not believe it, Endre! When I'm struggling to locate properties for 1/2 dozen folks who can find NOTHING in the area they want, the style they want along with a couple of other very minor preferences, I wonder what ROCK he's living under! He's certainly not citing data from any of the major metropolitan areas, that's for sure. 

Your example is absolute proof of your area, which I hope buyers read...and not the Inman article. Frankly, and not to go on a tirade here, he's doing the consumer an injustice. When you're in a tight market, you HAVE to stay on your toes, armed and ready to pounce. Relaxing because you hear that there is no more 'low inventory worries' is NOT good for the consumer.

Okay, I'm off my soapbox now! 

Aug 17, 2018 11:01 PM #25
Rainmaker
3,262,420
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Debe Maxwell, CRS  indeed Fake News it is sad in a way that someone who worked so hard to establish himself in the Real Estate Community with good information would stoop this low as others said to use Click Bait... it really is annoying:)Endre

Aug 17, 2018 11:09 PM #26
Ambassador
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Click bait, indeed, Endre! I've noticed their fan base is dwindling as a result of the out-of-touch articles...with the exception of those who prefer lecturing over selling real estate, of course.

Aug 17, 2018 11:32 PM #27
Rainmaker
3,262,420
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Debe Maxwell, CRS  it is sad it reminds me of some of the News Papers that used to be respectable and then they sold out for "false headlines".... Endre

Aug 17, 2018 11:41 PM #28
Rainmaker
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John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Endre Barath, Jr. it is very difficult for a person to form an opinion on not familiar of a local market. Good educational post.

Aug 18, 2018 02:49 PM #29
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

We are not in a buyers market here either. Though the market is slowing it will take months for the change to really happen. 

Aug 18, 2018 07:59 PM #30
Rainmaker
2,030,108
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Endre - we all learned how important titles were at Active Rain University.  That one took it too far to the extreme.  Don't take the title to the bank.

Aug 19, 2018 06:52 AM #31
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Robert Vegas Bob Swetz
Realty ONE Group - Las Vegas, NV
Las Vegas Henderson Homes for Sale

Hello Endre and this is an interesting post.

There are several reasons why inventory is so low. One of them would be foreign and national investors scooping up the inventory. Second would be not enough workers to help home builders build new homes because President Trump scared so many back across the border.

It will be very interesting once again when the bottom falls through and it's just a matter of time ... ;o)

PS: There is a community in Texas that lost approx 25,000 employees for building new homes 8 months after Donald Trump was elected, and this is just 1 community in America.

Aug 19, 2018 11:20 AM #32
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Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Endre, maybe Inman skimmed over your post... when I clicked on the link, the headline was rephrased into a question "Is the inventory crisis over?" 

Nevertheless... not seeing it in our market neither. 

Sep 16, 2018 12:41 PM #33
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