Posts from April 15th, 2011
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15
NEWSFLASH: There Is NO Inventory!!!
I was in a conversation with one of the most productive agents in our area recently and he told me that there were "no homes for him to sell". I thought he had a brain cramp. Look at all the 'For Sale' signs, all the homes on MLS, all the short sales and foreclosures plus the entire shadow inventory on its way. Had this respected agent lost his mind? As he saw the puzzled expression on my face (which was his intent), he began to explain that every home that is priced correctly is being gobbled up by buyers right away. The only homes that remain on the market for more than 30 days are the ones where the price doesn't COMPEL a buyer (even multiple buyers) to make an offer. I pondered his assertion for a while and his premise began to make more and more sense because I am witnessing: Increased a...
