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There is a famous old saying in the commodities market that goes along the lines of: “The cure for high prices is – high prices.” It is a simple statement on supply and demand that anyone would learn in Economics 101. In today’s South Bay home market, the supply squeeze on homes for sale has been unrelenting. As the strong demand continues along with record low homes for sale, home prices can keep climbing. So, when does it stop? Essentially, when prices get too high, and buyers throw in the towel. (High enough prices drive away the demand.) Right now, we are not there yet. There are, however, new listings with aggressive asking prices that can
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The 2022 South Bay market is off to a fast start. If you read last week’s blog on the year-over-year 4th quarter numbers, then you’ll know the market is strong. That said, if you are not IN the market, currently listing and searching for homes, then it is difficult to understand the true craze being felt by everyone in the marketplace. Homes are on and off the market in record time, home buyers are continuing to offer record prices only to miss out, and sellers know they are sitting pretty with too little inventory to satisfy too much demand. Without experiencing it as an agent or a home buyer/seller in the moment, it is tough to
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If you can believe it, 2021 is in the rear-view mirror. But, my blog is not ready to ditch 2021 just yet! We have Q4 numbers to cover. The latest numbers are a big deal to keep a pulse on our South Bay real estate markets. My quarterly blogs from a year ago touched on how Q1 and Q2 numbers in 2021 would have “easy comps.” That was thanks to the Coronavirus impacting our markets in a big way at the start of 2020. The true test would be Q3 and Q4 of 2021. Q3 numbers were very exciting to cover because it was a comparison period with tougher comps. Of course, our South Bay markets
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Happy New Year! I would like to wish all of our South Bay readers a prosperous 2022. We are so excited to continue sharing free South Bay real estate information and are more inspired than ever for the start of the new year. This year, I am making it a point to produce at least two podcast episodes a month and a monthly email summarizing our top blog posts / podcasts for easier contact interaction. We hope to bring more upgrades to other areas of the business and thanks to everyone who keeps following along. Without further ado, let’s get to the annual “Fearless Predictions” for South Bay real estate. Market Recap & Past Predictions Our
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