Is It a Good Thing?

You’d have to be sleeping under a rock not to notice the dramatic drop in foreclosures and bank owned properties  for sale.  Great news for the housing market!  Something less noticeable to some sellers is the rising inventory.  The number of active listings in the MLS is 23,716 as of November 6, 2013 which is an increase of 3500 listings or an increase of 17.3% over the past 30 days.  After all the hype that inventory is historically low, some sellers think that they can still ask a premium for their home, get multiple offers, and sell in one day.  Yes, some areas are still selling quickly for a premium but beware that the market is changing.  The demand for houses has slowed down.  In particular, cash investors are disappearing as prices have risen.  It is a good thing that the market is stabilizing.  Before marketing your home, it is critical to position it competitively.  For a free market analysis of your home email or call me.