Home Prices May be Down, but the Market is Just Heating Up

As usual, a lot of the reports that have been circulating this and last month show gloom and doom in the Orange County housing market. But lets not forget, the data that they are posting is often based on home trends from 1 to 2 months ago. It takes that long for homes sold in September and October to close. And then the question comes up, well how long did it take them to analyze and publish this data?

If you want to know what is really going on the market today, I find the best source to be realtors that are living it. I refer to this as being on the bleeding edge. Realtors typically live these trends 30 to 60 days before they are published. The good news today is that if your home has been priced correctly, being 5% to 7% below the high, your home probably has an offer on it right now. Every one of my listings that has been properly priced has gotten an offer on it in the past 2 months. It is exciting to see this kind of activity in the market. Looks like increased activity may lead to decreasing inventory. And with low interest rates, looks like Santa is going to give us a little momentum going into the spring selling season.