I've got no INVENTORY, YES I DO, I've got NO Inventory, HOW about YOU?

By
Real Estate Broker Owner with Crown Key Realty, Tracy & Mountain House Real Estate 01490605

I've got no INVENTORY, YES I DO, I've got NO Inventory, HOW about YOU? How about you?

I know you've heard it before, but here in Tracy & Mountain House, CA this is a snap shot from the last 2 days of what has come on the market. 

Look at the number of homes that have come on the market the past 2 days, then look at how many have gone pending (Short sale that have been waiting for months) and the SOLDS.

The number of houses available for buyers is dwindling fast.  Have we hit bottom... for now we have.

 

Monday Screen Shot of Houses                          Homes for sale in tracy on Tuesday 9/25

MONDAY                                                                         TUESDAY

Interest rates are at historic lows, prices are still low 1990 prices, but there is nothing to buy!

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  1. Ginger Harper 09/26/2012 07:29 AM
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Topic:
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California San Joaquin County Tracy
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Comments 36 New Comment

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Rainmaker
634,747
Evelyn Kennedy
Alameda, Real Estate, Alameda, CA
Gallagher & Lindsey, Alameda, California

Susan:

I recently wrote a post about the inventory in Alameda.  New listings are very low, inventory is very low.  Homes new on the market are routinely receiving multiple offers.

September 26, 2012 04:03 PM
Rainmaker
508,876
Wayne Johnson
San Antonio REALTOR, San Antonio Homes For Sale
Coldwell Banker D'Ann Harper REALTORS®

I thought I saw a recent national news report that indicated Tracy had several homes on the market unsold and that the area had lots of foreclosures.

September 26, 2012 08:46 PM
Ambassador
1,516,895
Christine Donovan
Broker/Attorney 800-610-7253 DRE01267479 - Costa M
Donovan Blatt Realty

Susan - Like you, we have almost no inventory, and when we get it, it doesn't stay on the market.

September 26, 2012 10:17 PM
Rainer
22,378
Larry G. Williams, Stockton/Tracy/Lathrop/Manteca
Home Buyers Realty

What many people outside our area and California in particular don't understand is the dynamics of real estate in our area (San Joaquin County). Just 12 miles West of Tracy (over the Altamont Pass ) is another county where the average sales price is at least $300K more. Then you have the San Francisco Bay area with many new millionaire looking to invest and have cash. Couple that with the governmnet push for loan modifications and you can understand why inventory is low and will be low for some time.

Lots of talk about Tracy and Mountain House being "ghost towns" by people who have no clue about what is transpiring. Every listing will have 10-40 offers. I recently had to bid $20K over list price(and $18K over appraisal) to get a buyer into contract. We won the bid by paying all the seller's closing costs.

Susan is a very sharp agent and knows her business so if she can't get listings, I feel somewhat sorry for the many agents that are clueless. Believe me I'm dealing with a couple currently.

September 27, 2012 09:50 PM
Rainmaker
267,298
Inna Ivchenko
Los Angeles / Valley Homes
Mannis Real Estate Group

wow, this is brutal!

Larry comment ( #36) is giving great insides on the situation in your area.

We were very low in inventory too, but last two weeks properties are coming back. Another issue: prices are up, i have impression sometimes that those agents are clueless.....yet, comps have very little sense these days( I feel sorry for FHA and even conventional buyers, appraisals are a huge issue)

January 22, 2013 01:28 AM
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Ambassador
395,513

Susan Goulding

Northern CA - Tracy & Mountain House Real Estate
Call today to ask how can I help you?
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Helping people is what I do. How can I help you? Are you looking to buy in Northern California? What about selling, do you have questions about short sales or foreclosures? Do you need to short sale your luxury home? Confidentially CALL ME.


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