Sellers, Sellers, Wherefore Art Thou Sellers?

Originally posted on March 08, 2013


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

  1. 2 beds, 1 full, 1 part baths
    Home size: 1,459 sq ft
    Lot size: 1.94 ac
    Year built: 1975
    Days on market: 0
  2. 2 beds, 2 full baths
    Home size: 1,050 sq ft
    Lot size: 7.15 ac
    Year built: 1971
    Days on market: 0
  3. 2 beds, 2 full baths
    Home size: 1,201 sq ft
    Lot size: 13,615 sqft
    Year built: 1986
    Parking spots: 4
    Days on market: 1
  4. 3 beds, 2 full baths
    Home size: 1,835 sq ft
    Lot size: 9,041 sqft
    Year built: 1954
    Days on market: 1
  5. 3 beds, 3 full, 1 part baths
    Home size: 1,930 sq ft
    Lot size: 11,294 sqft
    Year built: 1994
    Days on market: 1
  6. 3 beds, 2 full, 1 part baths
    Home size: 2,850 sq ft
    Lot size: 22,081 sqft
    Year built: 1952
    Days on market: 1
  7. 3 beds, 3 full baths
    Home size: 1,784 sq ft
    Lot size: 5,052 sqft
    Year built: 1957
    Parking spots: 4
    Days on market: 1
  8. 3 beds, 3 full baths
    Home size: 2,317 sq ft
    Lot size: 6,600 sqft
    Year built: 1919
    Days on market: 1
  9. 4 beds, 4 full, 1 part baths
    Home size: 3,463 sq ft
    Lot size: 5,901 sqft
    Year built: 2015
    Days on market: 1
  10. 1 bed, 1 full bath
    Home size: 1,130 sq ft
    Lot size: 1.06 ac
    Year built: 2007
    Days on market: 1
  11. 2 beds, 1 full, 1 part baths
    Home size: 1,426 sq ft
    Lot size: 6,049 sqft
    Year built: 1926
    Parking spots: 4
    Days on market: 1
  12. 2 beds, 2 full, 1 part baths
    Home size: 1,505 sq ft
    Lot size: 5,455 sqft
    Year built: 1955
    Parking spots: 4
    Days on market: 1
  13. 3 beds, 1 full, 1 part baths
    Home size: 1,191 sq ft
    Lot size: 6,022 sqft
    Year built: 1922
    Days on market: 2
  14. 4 beds, 2 full, 1 part baths
    Home size: 2,486 sq ft
    Lot size: 5,684 sqft
    Year built: 1951
    Parking spots: 4
    Days on market: 2
  15. 1 bed, 1 full bath
    Home size: 812 sq ft
    Lot size: 2.47 ac
    Year built: 1981
    Parking spots: 4
    Days on market: 2
  16. 1 bed, 1 full bath
    Home size: 960 sq ft
    Lot size: 27,285 sqft
    Year built: 1923
    Days on market: 2
  17. 3 beds, 2 full, 1 part baths
    Home size: 2,562 sq ft
    Lot size: 4,091 sqft
    Year built: 1997
    Parking spots: 4
    Days on market: 2
  18. 3 beds, 2 full, 1 part baths
    Home size: 2,192 sq ft
    Lot size: 10,206 sqft
    Year built: 1908
    Parking spots: 4
    Days on market: 2
  19. 4 beds, 3 full, 1 part baths
    Home size: 2,956 sq ft
    Lot size: 6,660 sqft
    Year built: 2008
    Days on market: 2
  20. 4 beds, 1 full bath
    Home size: 2,292 sq ft
    Lot size: 7,635 sqft
    Year built: 1900
    Days on market: 2

See all Los Angeles New Homes on the Market.
(all data current as of 8/2/2015)

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

 

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(4) 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. 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?

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