Our mailing Address is 1121 W Valley Blvd, Ste I-319, Tehachapi CA 93561. Make sure you note the address at which we will meet you for your appointment.
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Mailing Address is 1121 W Valley Blvd, Ste I-319, Tehachapi CA 93561. Make sure you note the address at which we will meet you for your appointment.
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Is it a Seller’s Market or a Buyer’s Market?

A question most often asked by someone thinking about buying or selling a home is, “Is it a buyer’s market or a seller’s market?”  It’s a bit surprising how often real estate professionals don’t know the definitive answer to that question!

Experience shows that 6 months of available housing inventory is considered to be a balanced market.  Less than that favors sellers and more than that favors buyers.  In the greater Tehachapi area, you can’t just consider the entire region because the absorption rate varies significantly from one community to another.

The real answer though is. “it depends.”  It depends on a number of different factors beyond the actual calculation of available inventory and probability that a particular house will sell.  It depends on things like the popularity of a particular area, what’s going on politically in that community, whether or not the community is showing up in local media in a positive or negative way.

The truth is that even if the numbers show that it is the type of market that you would prefer the reality may be different.  Want to know more?  Call 661-375-7325 today and let’s talk about the specific neighborhood you are interested in moving from (is it a seller’s market?) or moving to (is it a buyer’s market)?


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Why Might Short Sales Stabilize the Real Estate Market?

Find out why foreclosure may not be your best choiceI hear from lots of prospective buyers that want to get a list of Tehachapi foreclosed properties so they can look for the “best deal.”  The truth is a foreclosed property may not be the best deal whether you are the occupant of the foreclosed home, or the prospective purchaser.

As the occupant, if you are just waiting for the foreclosure to go through, you’re not really doing yourself, or your neighbors, any service at all.  I understand that the entire situation is distressing and stressful.  You probably already went through one or more attempts at a loan modification.  I’m sure you’ve had plenty of offers of “help” that didn’t seem very helpful.  Regardless of what your history has been, it’s pretty much never a good idea to stand by and let the lender foreclose.

As the seller, you can salvage the shreds of your credit rating by taking action.  In addition to stopping the free-fall on your credit rating, you’ll be able to hold your head up and move on with your life.  How do you do that?  Consider a short sale as an alternative to passively waiting for foreclosure.

Why is this good for your neighbors?  A foreclosed home typically sits vacant for extended periods of time while the lender is readying it for sale.  During that time, squatters may move in, but whether they do or not, the property continues to deteriorate while it sits there waiting.  This means that the value is going down while it sits too.  This spiral is contributing to the issues we face today with market values dropping because when these distressed properties finally do sell, they are the comps (comparable properties) that are being used to help value the properties for which buyers are getting loans.

Foreclosed properties typically will sell for a little bit less than non-foreclosures, but those savings come at a cost.  The costs can include both time and money.  A foreclosed property will, most often, need some work done in order to bring it up to the standard of a non-foreclosed property.  That means that it may not be the best deal when it comes to buying.

It also takes a special kind of person to look past the problems and see the beauty that can be revealed with some sweat equity.

It takes an even more special seller to take action and try to sell the house before the lender forecloses.  If you are that kind of seller, I’d be happy to talk to you about options.  Why not call today?

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Spectacular Stallion Springs Open Houses Today!

Three open houses in Stallion Springs today!

Three different price ranges available, starting at $149,000.  All three houses are open today, Sunday January 23 from 12-3 PM.

Enter at each open house for a chance to win a $60 Pacino’s gift card (one entry per household per location).  The more open houses you visit the more entries you get!

29801 Horsethief Drive - $149,000

28061 Stallion Springs Drive -- $284,900

27671 Buckpasser

Scan this code with your smartphone to get contact details

Information deemed reliable, but not guaranteed.

Presented by:

Sally Lawrence DRE License # 01863694

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Real Estate News Roundup for October 27, 2010

September Sales and Price Report According to the CALIFORNIA ASSOCIATION OF  REALTORS® (C.A.R), September marks the second consecutive month of sales gains.  This news is tempered by the fact that the median price of homes has dropped since August.

The seasonally adjusted home resale activity was up 3.8% in September as compared to August 2010.  However, this marks a 12.2% decrease from September 2009.

The median home price fell 2.7% in September from August’s $318,660 median price.  September’s median price of $309,900 marks a 4.5% increase from the same period a year ago.

C.A.R. also reports that the housing inventory in California is low as compared to the rest of the country.  California’s Unsold Inventory for single family resale homes is 6.2 months in September.  This represents the average amount of time needed to deplete the supply of homes on the market at the current sales rate.

Thirty year fixed mortgage rates are down almost 3/4% in September 2010 as compared to the same time last year.  September rates were reported at an average of 4.35%.

If you are interested in specific figures for your area, just fill out the contact form, send an email or call using the information on the contact page.

Highest Historic Inventory Levels Nationwide Trulia reports that price reductions for homes currently on the market have increased for the fourth month in a row and reached an all-time high of 27%.  This dramatic price reduction increase began in June 2010 for many cities across the country.

It is not unusual to see an increase in price reductions between June and October.  As we settle into fall, many sellers will reduce the price in order to sell a home that did not make the summer selling season.  Trulia attributes the increase in price cuts this year to buyer apathy and continued fall-out from job loss.

They report the top 10 cities nationwide for price reductions from June to October as follows:

Rank City % of Price Reductions in October 2010 % of Price Reductions in June 2010 % Increase
1 Las Vegas, NV 29% 10% 194%
2 San Diego, CA 26% 16% 64%
3 Sacramento, CA 27% 17% 61%
4 Fresno, CA 29% 19% 51%
5 San Jose, CA 23% 16% 46%
6 El Paso. TX 20% 15% 36%
7 Virginia Beach, VA 35% 26% 33%
8 Honolulu, HI 25% 19% 32%
9 Oakland, CA 17% 13% 31%
10 Omaha, NE 32% 25% 29%

Price reductions for the top 10 western cities are even more dramatic:

Rank City % of Price Reductions in October 2010 % of Price Reductions in October 2009 % Y-O-Y Increase
1 Fresno, CA 29% 14% 105%
2 Houston, TX 29% 17% 68%
3 San Antonio, TX 23% 14% 61%
4 Las Vegas, NV 29% 19% 55%
5 Mesa, AZ 38% 26% 46%
6 Arlington, TX 32% 22% 43%
7 Phoenix, AZ 39% 27% 43%
8 Virginia Beach, VA 35% 26% 33%
9 San Diego, CA 26% 20% 31%
10 Dallas, TX 35% 28% 24%

Despite Slowing Home Sales, Buyers Bid Above Asking Price Let’s temper some of the doom and gloom with some potential good news for home sellers.

ZipRealty’s 3rd quarter Home Hunter report shows that homes at various price points are selling above the asking price.  Fifty percent of the top 10 “hottest” zip codes nationwide are located in California.

What are your thoughts?  Share your comments on this story and let us know what you think.

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