Instead of lamenting I have nothing to wear, the thought running through my mind this morning is I have nothing to show. That’s right, sellers, housing inventory is so low in the Beach Cities of Manhattan, Hermosa and Redondo, as it is on Palos Verdes Peninsula, I have very few choices when constructing a show list for buyers.
South Bay Sellers, if you are contemplating selling your home in 2012, the market is begging you to list it now. Why? It’s what we all learned in economics 101: The demand is higher than the supply.
South Bay homes are spending fewer days on market due to the increase in number of buyers ready, willing and able to purchase a home. If a home is priced right, and although the prices appear to be stabilizing they have not yet started to climb in most areas, it will attract a bevy of buyers. After years of waiting for proof the bottom is in sight, it appears 2012 is sending the signal loud and clear.
Interest rates remain attractive allowing buyers to purchase a home in our desirable coastal location, not only at a price far more attractive than five years ago, but financing is also much more affordable than at the height of the real estate market. Toss in a tad of economic good news and buyers’ confidence started to climb. And why wouldn’t it?
Finally, the perfect seller’s sell signals have reached our Southern California shore:
1) Price correction appears to be stabilizing
2) Interest rates remain historically low
3) Buyers have increased confidence in the economy and housing sector
Savvy buyers are entering the market now but before they can purchase a Palos Verdes or Beach Cities home, they need to find a savvy seller ready to take advantage of the trio of positive market conditions working in their favor.
Norma Toering & Team can help you achieve your real estate goals. The decision to sell is often the hardest, but we’ll make the process easy for you and be there every step of the way.