Inventory of single-family, re-sale homes was down for the fourth month in a row. It dropped 7.1% compared to last May. Pending sales, a harbinger of future closed sales, rose 3.1% from April, and were up 16.7% year-over-year. This is the sixth month in a row pending sales have been higher than the year before.  Curiously, closed sales were off 1.5% month-over-month, and down 16% year-over-year. This is the eleventh month in a row closed sales have been lower than the...continue reading...

A home estimate is a good start to understanding what properties are selling in your neighborhood and for how much. In our estimate, we examine the sales activity of comparable properties and generate an estimate of value. You can easily adjust the estimate of value by changing the selected comparable properties or adjusting the sliders for hyper-local market conditions. When you are ready for a professional CMA, contact us. continue reading...

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The “Shadow Inventory” of Foreclosed homes is rising.  This inventory is made up of homes already repossessed by lenders buy not yet on the market for resale.  There is great debate in the real estate community about the effect this shadow inventory will have on existing resale home prices and neighborhood values over the next couple of years.  Inman News published this article recently and addresses the issue at hand. Article from Inman News below: Source: CoreLogic The "shadow inventory" of homes...continue reading...