Is it Buyers or Sellers Market in Sherman Oaks

There are many conflicting indicators in the Sherman Oaks housing market currently.

On balance it would seem that it is a sellers market.  But ask any seller if they feel that the value of their home indicates a sellers market and you will get a resounding “NO”!  This is largely due to the devastation on home values over the past few years.  A fair, “correct” answer to the question needs to give less importance to the current values than the average homeowner would like to see given.

Unemployment numbers are a mixed but overall it seems they have turned the corner into positveness.  Consumer confidence is certainly improving with some qualifications.  Looking at Real Estate in a vaccuum, the numbers in the Sherman Oaks, San Fernando Valley and greater Los Angeles areas seem to strongly indicate the best “sellers” market we have seen for more than 5 years.  Values seem to have stopped their slide, loan products are vastly more available to most qualified buyers, Interest rates are at hugely advantageous levels, home affordability is at a higher rate than any time in recent history, And the biggest factor of all is that the inventory of homes for sale is at record low levels in conjuction with the “months of inventory” rating is very strong for sellers.

With all the above factors listings in the Sherman Oaks area in particular are seeing very short marketing times for a home that is priced accurately commensurate with the appeal of the house.  Multiple offers above the list price are not unusual currently.  The discussion is open on what kind of premium to put on a straight forward listing price as compared to the closed sales prices of “distressed” short sales, foreclosures and other value priced listings.

This translates into very good news in that it gives the seller the opportunity to choose the right buyer for their situation.  The best price is not always the best deal.  There are many other factors that will contribute to a seller choosing the best deal for them.  Overall, I would definately classify this market in Sherman Oaks a “Sellers Market” with the exception of the long term value losses that most homeowners have suffered.

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About Blair Thompson

Blair Thompson has been selling homes throughout the Los Angeles Area centering on Sherman Oaks and the San Fernando Valley for 20 years. Working with sellers and buyers on the first time condo right up to the Multi-Million Dollar Estate he has experience with most any situation. His business is based on refferals past clients, friends and business associates he prides himself on his high level of service and extremely high customer satisfaction. Using a high service hands on approach he consistently gets the highest value possible for his home selling clients and insures that his buyer clients get the home of their dreams. In the rapidly changing field of real estate sales, Blair prides himself on keeping pace with technology and the best and newest ways to conduct business from electronic signatures, automated listing information, to the multitude of ways to communicate via text, email, facebook or email. He still values the old fashioned morals and ethics to earn repeat business

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