Sellers, Sellers, Wherefore Art Thou Sellers?

We are heading towards a Shakespearean tragedy here, extreme shortage of inventory.

The Los Angeles housing market is not going to recover if there is nothing for buyers to purchase.  Getting a loan is not a slam dunk, but mortgage rates are at an all time low and more than half of California home buyers can afford the median price in the state.Los Angeles home sellers, where are you?

So what is causing the anemic inventory?

The expected shadow inventory of homes hasn’t happened.  Less people are willing to short sell their homes.  Even thought they may still be upside down on their mortgages, they see hope in the rising prices and, if they can still afford to make payments, they are waiting for further price increases.  Banks are also willing to wait out the market until their inventory increases in price.

And the government is helping fuel this optimism by keeping mortgage rates low and providing assistance with  the Housing Affordability Refinance Program (HARP), Home Affordable Modification Program (HAMP) and the like.

The Fiserv Case-Shiller index predicts that home prices will rise at a steady rate of 3.3% over the next four years.  But nothing is going to rise if there is nothing selling.

It is extremely frustrating out their for Los Angeles home buyers.  If you are ready to sell your Los Angeles home now is a great time.  Priced right your home will probably receive multiple offers and sell quickly.  Please help.  Your contributions will be greatly appreciated.

New homes on the market this week in Los Angeles

See all Los Angeles New Homes on the Market.
(all data current as of 1/31/2015)

  1. 3 beds, 2 full, 1 part baths
    Home size: 1,870 sq ft
    Lot size: 5,374 sqft
    Year built: 1925
    Parking spots: 1
    Days on market: 1
  2. 4 beds, 3 full baths
    Home size: 2,786 sq ft
    Lot size: 6,350 sqft
    Year built: 1926
    Days on market: 1
  3. 5 beds, 2 full, 2 part baths
    Home size: 4,030 sq ft
    Lot size: 8,434 sqft
    Year built: 1927
    Days on market: 1
  4. 2 beds, 2 full baths
    Home size: 1,304 sq ft
    Lot size: 18,363 sqft
    Year built: 1967
    Parking spots: 4
    Days on market: 1
  5. 2 beds, 1 full, 1 part baths
    Home size: 1,252 sq ft
    Year built: 1970
    Parking spots: 4
    Days on market: 1
  6. 4 beds, 5 full, 1 part baths
    Home size: 4,443 sq ft
    Lot size: 4,059 sqft
    Year built: 1999
    Parking spots: 11
    Days on market: 2
  7. 1 bed, 1 full bath
    Home size: 953 sq ft
    Lot size: 32,042 sqft
    Year built: 1970
    Days on market: 2
  8. 2 beds, 2 full baths
    Home size: 1,066 sq ft
    Lot size: 1.48 ac
    Year built: 2006
    Days on market: 2
  9. 1 bed, 1 full bath
    Home size: 859 sq ft
    Lot size: 2.86 ac
    Year built: 2003
    Days on market: 2
  10. 2 beds, 1 full bath
    Home size: 610 sq ft
    Lot size: 4,484 sqft
    Year built: 1923
    Days on market: 2
  11. 1 bed, 2 full baths
    Home size: 1,310 sq ft
    Lot size: 1.72 ac
    Year built: 2006
    Days on market: 2
  12. 2 beds, 1 full bath
    Home size: 1,067 sq ft
    Lot size: 5,982 sqft
    Year built: 1952
    Parking spots: 4
    Days on market: 2
  13. 2 beds, 3 full baths
    Home size: 1,750 sq ft
    Lot size: 9,069 sqft
    Year built: 1993
    Days on market: 2
  14. 2 beds, 2 full baths
    Home size: 1,418 sq ft
    Lot size: 30,008 sqft
    Year built: 1982
    Days on market: 2
  15. 3 beds, 2 full baths
    Home size: 1,548 sq ft
    Lot size: 8,590 sqft
    Year built: 1920
    Days on market: 2
  16. 3 beds, 2 full baths
    Home size: 1,430 sq ft
    Lot size: 3,194 sqft
    Year built: 1964
    Parking spots: 2
    Days on market: 2
  17. 2 beds, 1 full bath
    Home size: 1,200 sq ft
    Lot size: 3,993 sqft
    Year built: 1949
    Parking spots: 2
    Days on market: 2
  18. 4 beds, 2 full baths
    Home size: 2,055 sq ft
    Lot size: 6,000 sqft
    Year built: 1950
    Days on market: 2
  19. 3 beds, 3 full baths
    Home size: 2,057 sq ft
    Lot size: 6,255 sqft
    Year built: 1924
    Parking spots: 4
    Days on market: 2
  20. 5 beds, 3 full baths
    Home size: 2,198 sq ft
    Lot size: 6,746 sqft
    Year built: 1916
    Days on market: 2

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 

For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the CONTACT FORM or call me at 310-473-6919

Jane Peters

Jane Peters is a Los Angeles Realtor®, specializing in absentee owners, out-of-town-buyers and those needing that extra personal touch to make the buying and selling of Los Angeles real estate a smooth and, believe it or not, fun process.

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Comments

  1. I see you’re having the same trouble on the West Coast that we’re having on the East Coast! Former short sale-to-be sellers are now able to capitalize on the lack of inventory and as predicted by those IN the real estate business, there WAS no shadow inventory that the media loved to keep scaring the public about! Our buyers are SO hungry for homes right now–it’s certainly a huge and welcomed shift in the market, for sure!

  2. It would be if the buyers had something to buy.

  3. Hi Jane. A few weeks ago, I attended a Broker Forum and they had top legal counsel from CAR. Those folks seemed to believed that the sellers will be coming out of the woodwork very soon. In San Diego County, we are faced with the very same problems that you are having in your area. I know that if sellers call you, you will do your very best to get them top dollar for their homes! Who couldn’t resist?

  4. Thank you, Melissa. And I sincerely hope that guy is right.

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