Today the birds are singing and the weather is sunny, a sure sign of spring. The lawns are green from the recent rains, but oddly enough they are not sprouting enough "For Sale" signs to replenish the dwindling supply of homes on the Palos Verdes Peninsula.
There were nine offers on a recent new listing priced well over $1,000,000. Obviously, the supply is not keeping up the demand. Some buyers are removing themselves from the multiple offer madness after submitting many offers and always losing out to a buyer with a better offer. From a market stopped dead in its tracks to a market moving with bullet train speed, it's a challenge to keep buyers and sellers aware of the market swings.
Sellers, if you're waiting for the spring housing market to pick up steam before listing your property, wait no longer.
Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800
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South Bay Los Angeles cities I sell real estate, property, houses and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach. Information is deemed reliable but not guaranteed.
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Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800
PalosVerdesLifestyle- Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Chosen by MovingCost.com as one of the best Los Angeles realty blogs. Awarded 5 out of 5 stars by Lender411 blog review. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper.
South Bay Los Angeles cities I sell real estate, property, houses and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach. Based on information from the Association of REALTORS®/Multiple Listing as of the initial date of this article/blog publication and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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Norma, the listings are definately dwindling in our area.
Norma - we seen a small reduction in listings also. I think those sellers that were not distressed just got fed up with the market and decided to wait until things get better. We are also seeing an uptick in buyer activity though so I am hoping the "regular sellers" come back to the market soon.
I have been having this problem for several months now - have actually had buyers that I was concerned I was not going to have viable listings to show/sell. To date a lot of sellers just not listing despite my efforts to show them why the market is turning - or at minimum - a window of opportunity if it works for their particular situation.
Yes Norma, I agree. let's bring 'em on. I'm getting bored. When a new listing DOES come in, we have so many offers on it that the buyers end up in a bidding war. Not good
Norma, I'm sort of thinking that I like it better when it's a little bit slower and calmer. But I really do like working with buyers.
Norma - Things are starting to pick up here listing-wise too, so maybe yours will do the same. Best of luck to you.