How Natural Disasters and Low Inventory Impact Selling Your Home Today
How Natural Disasters and Low Inventory Impact Selling Your Home Today. That headline might be a little aggressive; however, as August 2017’s housing market data begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME TODAY!
In a recent article by CBS News, they explained that the number of existing home sales is shrinking, and Lawrence Yun, Chief Economist for the National Association of Realtors, said:
“There should be 3 million homes on the market right now…Yet, there are only 1.9 million.”
And this situation will be affected greatly by recent natural disasters. Yun continued by saying:
“Before the hurricanes I would have predicted 1.35 million in new-home construction in 2018…I’ll have to scale that down now.”
How Natural Disasters and Low Inventory Impact Selling Your Home Today
NAR, in their August 2017 Realtors® Confidence Index , indicated that:
“Amid sustained job creation and sustained historically low mortgage rates, REALTORS® reported…that buyer demand is stronger compared to conditions one year ago… and that fifty percent of properties were on the market for less than one month when sold.”
The only challenge to today’s market is a severe lack of inventory. A balanced market would have a full six-month supply of homes for sale. Currently, there is only a 4.2-month supply of inventory, which is down from 4.5 months one year ago.
Bottom Line
With demand increasing and supply dropping, this may be the perfect time to get the best price for your home. Let’s get together and discuss the inventory levels in your neighborhood to determine your next steps.
Call Us Now To Sell Your Home…
Office: 909.985.9392 or Text Us: 714.657.6634
[gravityform id=”15″ title=”true” description=”true”]
60 Minutes Video on Strategic Defaults and Short Sales
CBS 60 Minutes Talks Strategic Defaults. Watch CBS News Videos Online
Bank of America Increases Notice of Auction Notifications…To Increase Short Sales, avoid Foreclosure
Even as defaults and foreclosure sales fell in April, lenders kept the pressure on borrowers by pushing delinquent borrowers through the foreclosure process, data from analyst ForeclosureRadar showed Tuesday. After a record-setting number of defaults and foreclosures...
Short Sale for "Real Housewives of Orange County" Tamra Barney… Strategic Default?
Wow, hot off the press.....Thanks to The Wall Street Journal for this timely content on "Real Short Sales Of Orange County"..... Reality has hit home for one of the “Real Housewives of Orange County’s” blond-and-Botoxed stars: Tamra Barney unloaded her Tuscan-style...
Kanye' West Selling His Hollywood Hills "Jetson Pad"
Kanye West Selling Home for $3,995,000 Hip-hop producer/rapper Kanye West is selling his Hollywood Hills home for $3,995,000. And, no — that sale price is not a typo, missing an extra digit. There are a couple of surprises in this listing: #1 is that West, who is #46...
Sandra Bullock and Jesse James New Orleans Home on the Market?
Now that actress Sandra Bullock and ex-husband-to-be Jesse James are selling their Sunset Beach, CA home, another one of their homes is getting some attention and that’s their Big Easy home. Known as the “Koch-Mays House,” it was built in 1876 for James Eustis, a...
Top 10 Myths About CEO's…Control Freaks!
I found this interest...recently printed in Bnet...Steve Tobak You know them as bean counters, pencil neck, human calculators, fraudulent embezzlers, or tight control freaks with no sense of humor or sense of the business. When it comes to CFOs, stereotypes abound....
Plastic Surgery..Higher Wages..Bad Economy…Short Sales and Foreclosure?
An article came across in an email, you know, the ones that get you and open because the subject line is just brilliant! the subject line....Why Your Career Needs Plastic Surgery--Literaly Our chosen "Career" is real estate, and right about now it feels like plastic...
Bank Of America Investigation…Short Sales, Loan Modifications, Foreclosure
Contact 13 investigates Bank of America Updated: May 10, 2010 11:33 PM PDT Video Gallery Contact 13 investigates Bank of America 6:44 Also on KTNV.com Bank of America customers march for mortgage help Bank of America's response Contact 13 Investigations Also on the...
LeBelvedere 630 Nimes Rd Los Angeles, CA 90077 Under Contract for $72MM
Happy Birthday Kam!
I Love You! Dad
Geithner Assails HAMP Servicers in Speech to Senators
Treasury Secretary Timothy Geithner told lawmakers Thursday that servicers are failing in their efforts to modify loans for Americans at risk of losing their homes. “I want to be clear that we do not believe servicers are doing enough to help homeowners – not doing...
Home Buyer Tax Credit Gone…Now What? Short Sales & Foreclosures..
Sting Sell His NYC Apartment for $19MM…Did He Short Sale?
It was the former home of piano man Billy Joel and now it's soon to be the former home of fellow superstar musician Sting. The 6,600 sq ft home at 88 Central Park W, New York, NY 10023 is under contract after being listed for $19 million by Halstead Property. Sting...
Foreclosure Or Short Sale….How Much Will Credit Scores Drop
Uncertainty about how much of a hit one’s credit will take is a frustrating situation, but in a recent report from money.cnn.com, there was some information disclosed about what a short sale or foreclosure will cost, in terms of points on your credit score. According...
Jon & Kate Sell PA Home on Short Sale
Jon & Kate apparently victims of a downturned economy sold their home in Pennsylvania on a Short Sale. Zillows report shows that 1/3 of all homes sold in February 2010, were sold for less than the orginal loan amount or, Short Sale. In the Forbes video below, Amy...
Short Sale of DC's MBA Office Building…50% Loss For PNC
Irony at it's best...... Back in February the Mortgage Bankers Association struck a deal to sell its headquarters building. But like many Americans with real estate that has plunged in value, the trade group is getting much less than it owes its lenders. The...
California Hot Spot for Foreclosures…CNBC Video…Short Sales Stop Foreclosure
Although California remains in the top 20 foreclosure activity, numbers are shifting into new areas. With the HAFA roll out April 5th Short Sales for homeowners that are upside down in equity have a realistic alternative to foreclosure. Email Buttons
Americans Buying Short Sale Homes To Meet Tax Credit
This is a Repost from Time Magazine By Coeli Carr – Sun May 2, 8:30 am ET Real Estate Agents, Buyers Cut Deals for Tax Credit At the stroke of midnight Friday, April 30, anyone hoping to cash in on the generous home-buyer tax credit will need a signed contract with a...