“Buyers’ Broken Hearts: With multiple offers, only one buyer wins.
Gone are the days where buyers scrutinize the market and slowly isolate the perfect home. They can no longer wait a week before preparing an offer to purchase. Buyers can no longer take their time and gingerly approach the market. Those tactics only work during a buyer’s market. For homes priced below $1 million, 71% of the active listing inventory and 92% of demand, it is a seller’s market with tremendous competition, multiple offers, and offer prices often at or even over the asking prices. And, the lower ranges are as hot as molten lava. For homes priced between $250,001 and $500,000, the hottest range, the expected market time is an eye-popping 24 days. With expected market times below one month, competition is so fierce that many homes generate over 10 offers.”
“SAN JUAN CAPISTRANO
Current Actives Pendings Market Time in Months Average Active
7/19/2012 (last 30 days) 7/19/2012 List Price
92 49 1.88 $1.5m
Number of Foreclosures % of Active
Current Actives & Short Sale Actives Inventory
92 9 9.8%”
lawrencecarlson 