Yeah, I saw a good little indicator today on the SoCal MLS that that is a great little bit of information that our clients need to hear.
With the current market fears being portrayed in the media along with the quietness of the holiday's a little good news in needed.
We all know the rule of supply and demand and how it works. Too much supply on the market - pricing comes down. Not enough - pricing goes up. Simple.
So as I reviewed the MLS this week I calculated the following:
New Actives on the Market: 1894
New Pendings: 444 (this does not include Back Up offers)
Closed Sales: 481
Expired: 1516
Cancelled: 961
Simply what does this indicate? The number of homes coming off the market are greater then the number coming on the market. Thus reducing the overall inventory.
Simple but a nice little glimmer, to help make us smile today!
Kelly Turbevilleis one of South Orange County premier Realtors® focusing in the Saddleback Valley and the communities of Lake Forest, Portola Hills, Foothill Ranch, Trabuco Canyon, Mission Viejo and Rancho Santa Margarita. Whether she's helping a first time buyer accomplish the goal of homeownership, or coaching a homeowner on how to use their equity to step up into a nice home or use it to buy an investment property or finding exclusive properties for the high end consumer. Kelly is committed to making it happen. So if you're considering selling or buying a home in Saddleback Valley, call Kelly to schedule a free consultation. Whatever your dream, with Kelly at your side, It's Possible!
The above information is provided as courtesy/opinion and is deemed reliable but not guaranteed.
 |
|
|
Kelly Turbeville is a South Orange County, California Real Estate Professional, specializing in helping clients realize their real estate goals with a simple motto - It's Possible!
Don't miss this great Seminar - Why Now is a great time to Buy! w/Gary Watts
Portola Hills, Lake Forest -2007 Year In Review
Portola Hills eNews - Holiday Events
Mission Viejo and Lake Forest Rank Tops as Safest City
Saddleback Schools Honored By Calif. Business for Education Foundation
Portola Hills Market Update - Week Ending 11/9/07
I am Sad, Someone Hurt My Beloved Santiago Canyon!
Portola Hills eNews - Week Ending 10/18/07
Portola Hills Elementary Holiday Boutique-New Schedule Due to Santiago Fires
Buying Smart In Today's Changing Market - Home Buyer Seminar
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
Do you think the ones that are taken off the market are coming from the help the FREEZE plan?
Hi Rosemary - Thanks for checking out my post. I don't thinke the FREEZE had anything to do with these numbers as I can't imagine mortgage companies have acted that fast. Plus since the freeze is structured to really only help those with 2/28, 3/27 loans and lower fico scores not sure how that will impact SoCal. Hopefully though the areas in the Inland Empire will be helped.
But truthfully and little helps right now!
Hi Kelly ~ Thanks for sharing. Every bit of hope is a wonderful thing! It is nice to see that your market is showing sign of stabilization! :)
Hi Sarah - Thanks for the read. Yeap, hope is a great thing! Merry Christmas
So could some of the expired home have been relisted?
Hi Ethan
I am sure a portion of the new actives include properties that were being relisted from Expireds and Cancelled but that number should be low. Those two categories account for 2477 of the homes that came off the market which is more then came back on.
Thanks for checking out my post!