Wednesday, September 12, 2007

The Best Buyers Market

The September 2007 Statistics are now in. We currently have one of the Best Buyer's Markets imaginable. In the past prices were high, inventory was low and buyers were bidding against each other while driving up the prices on the few available homes. Now prices are low, mortgage rates are low, inventory is high, yet the Buyers are hesitant to buy, even though EVERYTHING IS ON SALE NOW! There are some fantastic deals and some very motivated sellers.

"The South Orange County residential Real Estate market has really slowed down to an unfortunately record breaking low level… Data Quick reported a few weeks ago that July was the lowest sales volume in Orange County the past 20 years … and the past week was the lowest sales volume we have tracked in south Orange County since July of 2002’… Fortunately, the number of homes Active for sale has leveled off and has not been increasing… We now stand at 15 Months of Inventory for all price ranges… I don’t think these low sales volume numbers can last much longer.. "
  Quote and chart courtesy of Vince Bindi, Keller Williams Realty

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